I Joined Uptrennd and Read About Their Token. Here's What I learned About It.
I Joined Uptrennd and Read About Their Token. Here's What I learned About It.

By SkinnerCrypto | Magic and Lasers | 29 Mar 2020


I love writing. Hell, I love writing for YOU fine people! It's a hobby, and a therapy and an all-out good time. I'm always looking for something new to learn about so I can inform and with a little luck make somebody shit themselves with laughter. It has received good reviews here, and I have generally done alright. I am actually amazed at how well I actually managed to do so far. I'm not tooting the Ol' Horn or nothing, I'm just incredibly surprised. People have enjoyed my work. Seriously. I just learned about a shout out I received from the Brand Ambassador for DigiByte, Josiah Spackman:

Holy F*CK Check Out The 4 Minute Mark

Specifically, it is about THIS ARTICLE HERE. This blew my mind. It's a late "Thank You", but big thanks to Josiah for the mention! AWESOME. Any case, this is just a slight bragging right, what I wanna talk about today is UpTrennd!

Expanding Out Into the Brave New Crypto World.

After I found a following here, my next question was, "What do I wanna do next? What direction do I wanna take this?" Is this just a side hobby I do for a little beer money, or could I someday actually ... you know.... be a WIDELY RESPECTED Internet Asshole in the Crypto Realms? While that is still for the future to decide, I thought it would be prudent to branch out (already did some with Steemit and now HIVE) and see what other communities and folks thought of the type of work I do. So, after my second Brother from a Canadian Mother Scott Cunningham AKA ScottCBusiness turned me onto Uptrennd through one of his review videos, I thought I would go and have a look.

And I waited for.. oh about a month. I procrastinate.

Then I signed up. Technically, if I wanted to engage in DUE DILIGENCE, I probably should have taken a closer "gander" at their information. But, to be completely honest, Scott gave it a stamp of approval, and that's quite enough in my book. He is a straight shooter, friends.

FIRST IMPRESSIONS.

I'm of the philosophy that if you have a token, you more than likely need a platform. The platform is the central venue by which the token can see in-flows and out-flows. This is important, especially if you're trying to have people use it for a specific purpose and to sell it on exchanges through some sort of earning mechanism. Uptrennd hits the nail on the head with this; they have made one hell of a platform. It's smooth, easy to use, and it's a nice cool blue. Relaxing, really.

351665157-87933f4d8492b183c6882de96f6132cfb1420ea57bf2bd13c1e586cbf6223afd.png

Very Pretty!

It reminds me a bit of Steem.....err *COUGH* HIVE BLOG. Its functions are similar in that somebody familiar with Hive would have an easy time adjusting to this platform. If you're generally familiar with social media platforms, forums, etc, you'll have an easy time. After this, the next thing that's a must read is How Uptrennd Works. Here, the first thing they lay out is the Philosophy of their platform, and let me tell you: This REALLY pumps me up. Allow me to summarize their founding principles:

1.) Distribution of Wealth. I know, especially in the USA, this type of talk is quick to get you labeled a Commie Pinko that likes to engage in intercourse with cattle. Well, sometimes in my experience. Like it or not, it is a really interesting egalitarian principle. You earn through interactions in commenting, curating (reposting), authoring and leveling up! That's a fun little feature of their platform; the more points you earn, the higher a level you can reach and have the opportunity to earn MORE points. But, I don't wanna spoil the earnings part, I'll get to that in a minute.

2.) Freedom of Speech. Oh Ho HOO boy! This is a big one. See, you might have heard of this guy that bought a social platform called Steemit. His name is Dr. Jackass. Anyways, Dr. Jackass really flubbed the process because while he bought a platform, he sure as shit did not buy a community. After several fiascos, the community got pissed and made their own blockchain. They HARD FORKED to HIVE. One of the things that ended up happening on the platform after this hard fork was that Dr. Jackass was censoring people. Oh... No. That's WAYYY BAD. Any case, Uptrennd has a simple philosophy: Talk about whatever the hell you want in whatever the hell way you want to. The only exceptions to the rules here are things pertaining to illegal content, incitement of violence and so on. The typical stuff. They want their community to speak freely without fear of the GRAND BANHAMMER OF GLORY. In short, keep it legal, say fuck and shit or whatever you want, and you're golden. Naturally, I LOVE this. If you're an avid reader, you know why I say that. I like to get... spicy. a little controversial at times. Oh, and BIG PROPS to Publish0x for not censoring me. I love you guys. Thanks.

3.) Eqaulity of Opportunity. This is REALLY nice. For those of you familiar with both Steemit and Hive (sorry Hive, this applies to you too), it can be hard for a new comer to get their foot in the door. Uptrennd runs a transparent shop; they wanna make sure everyone from new to old get an opportunity to be heard. Are you a whale in Uptrennd's patented 1UP tokens? Don't matter to them; their algos make sure that there's a good mix to go around. This isn't to say that they don't have popular posts, new posts and stuff like that. They do. But they make it to where visibility is accessible to all. I enjoyed this a lot too.

4.)  Data Security. I really appreciate this one too. Unlike a multitude of other sites on the InterButts, Uptrennd respects your data, they won't sell it, and they want you to know that you have your privacy. This is of course, just a promise, but until I'm otherwise shown that they are not following this, I think a little bit of trust can be placed in them.

So How Do I Earn Points and What Are They Good For?

Good queston. Points can be earned in a multitude of ways:

1.) Upvotes on comments or posts

2.) Reposts earn you 50% of the shared points from the post - The Sharing Economy.

3.) Donations from Users (They have a donation button where fans or other folks can donate more points to your work).

4.) Daily Activity Bonuses. If you do a lot of activity daily on their site, they will give you a a number of daily points for each consecutive day. Day 1 gets you 1 point, Day two gets you two points, and so on. It's a fun little way to incentivize use, and I think it is brilliant.

5.) Contests. Just like Publish0x, they run contests. If you win, you win points!

6.) Referral invites. Grab your friends, sign up them up and you get rewarded!

Cool. What are they good for? The number one thing that points are good for is that they can be exchanged for 1UP tokens. In fact, NEW and AWESOME HIVE BLOG!one point is equal to one 1UP Token! So, if you do a lot of work on one of these sites, you can redeem your points for tokens which can then be sold on their listed exchanges. Nice! A great way to either speculate on their token or to make a little cashola. You can also use points on the platform to start a community, level up (and gain more points), or even to "boost" a post or buy some sidebar adverts. Basically, their points are representatives of tokens on the platform, which is an interesting thing.

So far, I have enjoyed the experience. My first post netted me 42 points. Not bad at all. My additional bits and pieces of comments got me over 60 points. WHOO, almost to level 2. Regarding the levels, it makes it almost like a game! Can you earn more points to get more levels? Post more, interact more and do what you can to earn them points! I personally think the "levels" are a great incentive to get people to continue interacting.

This is all well and good, but what of the token?

THE FINANCIALS.

So, their token economics is a little bit complex, but not Cardano Complex for sure. Basically, the initial total supply was less than 1.5 million tokens. Wow, that's a lot less than Bitcoin. But, that's okay! Because they have means of introducing more tokens and "burning" them, so to speak. Basically, upvotes create points, which can create tokens. those tokens are essentially created by the community. When somebody cashes out their points for tokens and sells them, that introduces tokens into the circulating supply. When the points are used to level up or buy services, those points are essentially destroyed, mitigating the possibility of them becoming tokens. Uptrennd buys back tokens from the third party exchanges using 80% of their ad revenue, which go into a pool. Based on the circulating supply, some are put into cold storage. So, it's a really dynamical state of affairs that both ensures scarcity and supply over time. I actually think this is very interesting. The full nuts and bolts can be seen on CoinMarketCap, just click on the link to their technical documentation.

So, How Will This Token Fare Over Time? Well, anything I tell you is first and foremost NOT financial advice, but I think the number one thing that sets the Tokenomics of 1UP apart from the rest is that it is very much contingent upon adoption of the platform. If you're using Uptrennd and cashing out tokens, you are contributing to the Inflows. When people - including Uptrennd - buy the tokens back, they are supporting the outflows. The way they are set up gurantees inflows and makes being part of the community a fundamental prerequisite for the continued increase of inflows. That is in short... a genius move on their part. But what the hell do I know, do your own due diligence on this one. Now, Let's take a look at the CoinGecko:

Uptrennd is still relatively new, so you're seeing a rather small market cap, but still one that is healthy enough when compared against the current circulating supply (over 80 million) and the price of the token.  Their rank at the time of this writing is 802, which is also pretty good. They are at least in the top 1000 of all cryptos ever. but can it grow? This one is hard to say because the circulating supply is rather dynamical. However, I think they do expect the circulating supply to increase, because in their technical documentation, an upvote will decrease in value over time when more tokens are in circulation. But fear not! The first upvote devaluation (essentially, their version of a Halving event) will occur when there are between 1 and 2 billion circulating tokens. I think this will eventually increase token scarcity, because they will be harder to get. With the BTC Halving and Stock to Flow predictions holding, it would not be weird in the least to see this token increase in value. I'm nearly certain of it. Time will tell, of course. Watch this one carefully.

Thank you SO SO MUCH for reading, I REALLLY appreciate it. If you wanna read more, please follow and take a look at my "backstock" of articles. Hopefully you will be pleased!

SHILL OF THE WEEK!

Hey, you like antics? Fun? Adventure? Wanna be part of THE REVOLUTION? already part of the REVOLUTION? Please consider giving me a follow on the NEW and AWESOME HIVE BLOG! That simple. No payments necessary. Just fun.

Until next time, keep your eye on the markets and your Trends Upward.

 


SkinnerCrypto
SkinnerCrypto

I'm a futurist, cryptocurrency enthusiast, techie, artist and aspiring land surveyor. I like to solve problems. I have some ideas for a planned community.


Magic and Lasers
Magic and Lasers

This blog is dedicated to the talk of Cryptocurrency topics, Futurism, Technology, and scifi/Fantasy.

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