UPFI Network is a fractional-algorithmic stablecoin protocol whose stated goal is to provide stable, highly scalable, decentralized, algorithmic money as an alternative to fixed-supply digital assets. The protocol issues two tokens: UPFI, a stablecoin partially backed by collateral (including USDC and the UPS share token) and partially stabilized algorithmically and pegged to $1; and UPS, a non-stable utility token that serves as a volatility-absorbing asset. The team says this design reduces the system's reliance on external collateral and increases capacity for scaling. UPFI has launched a public testnet (https://devnet.upfi.network/) and reports more than 20,000 followers across social channels. The project won 1st prize at the Solana Season Hackathon - Nation Vietnam. The company says an open-beta mainnet and a public sale may come by November.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Oct 2021