Yup’s Multi-Chain Token Launch Will Reward Liquidity on Ethereum and Influence on EOS
NEW YORK, NY / ACCESSWIRE / October 6, 2020 / Yup, the opinion layer of the web is releasing Yup Protocol v1 and its YUP token on October 9. Per the protocol, YUP will be emitted consistently, mostly distributed as rewards to users that rate content across the web. With a custom implementation of an EOS-ETH Bridge, liquidity providers can farm YUP by staking Uniswap LP tokens, essentially providing liquidity on Ethereum.
Liquidity will primarily exist on Ethereum, allowing liquidity providers to farm YUP with their YUP-ETH Uniswap LP tokens by staking and bridging them to the EOS smart contract. Yield for the first six months will amount to 23% of all token emissions.
Yup co-founder, Vernon Johnson stated: "The future is multi-chained. This is a bold step in that direction and we're excited to take it. Ethereum has proven the power of composability. This power increases exponentially as integration with other chains and layer 2s improves, making way for new and exciting use cases."
Available as a Google Chrome browser extension, Yup allows users to reward valuable opinions through rating across multiple platforms including Twitter, Reddit, YouTube, and Google Maps. The protocol incorporates an incentive mechanism so that if other users vote consistently with themselves, the initial user is rewarded with YUPX tokens. As users continue to contribute, express their opinion, and curate content, the weighting of their votes increases in value and influence. More influence leads to greater opportunities to earn YUPX tokens.
About Yup
Yup is a social layer for the internet where opinions are monetized while achieving a genuine measure of social capital. Through a unique application of blockchain technology, Yup captures online influence as an asset, making online engagement and ratings truly meaningful. More than 3,000 weekly active users include tech founders, YouTube streamers, crypto VCs, and music artists.
Learn more at https://yup.io/
Contact for Yup.io:
Dan Edelstein
pr@marketacross.com
SOURCE: Yup
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