Upfire — BSC’s & ETH’s File-Sharing Platform

UPR launch, free seeding, Binance Smart Chain, ETH payments, staking, governance, and expansion of the team

The Upfire logo

What is Upfire?

Upfire is an innovative rebrand and expansion on Upfiring that will completely change the dynamics and usability of the existing Upfiring application. Upfire will be an entirely new product that seeks to serve as an upgraded version of traditional torrenting that incorporates blockchain, rather than a replacement for the current system. This will give users the option to torrent on both normally, but add advanced blockchain aspects to the process that will allow content creators to profit from their own work directly.

Binance Smart Chain

Upfire will first launch on Binance Smart Chain with a bridge from ETH to BSC for UPR. This will serve as the initial breeding grounds for use of the dapp, and allow for files to be transacted with an extremely low transaction fee. Binance Smart Chain is incredibly easy to use and directly models itself after ETH, so the onboarding process for users will be simple.

Upfire — Features

Upfire will be an open-source dapp, and all development can be tracked on Github here: https://github.com/UpfiringHQ/Upfire. Development is already underway, and we are a few weeks away from moving forward with the transition and release.

Free Seeding

Modeled after the traditional BitTorrent protocol, Upfire’s free seeding will be a quick and easy way to onboard new users. Free seeding mean the dapp has no barrier to entry, since anyone can download and start seeding files to support the community and grow the content-base.

Paid Seeding & BNB/ETH Payments

One of the biggest changes from Upfiring to Upfire is the method of currency used within the dapp’s ecosystem. Rather than using an ERC20 token, Upfire will utilize BNB/ETH as its primary method of fueling the paid seeding aspect of the dapp. This will create an economy centered around ETH, which is a huge change from requiring all users to buy a token (UFR) on Uniswap as with the old protocol.

Staking

Staking will be one of the most important drivers that will encourage long-term holding of the UPR token in the dapp. Users will be able to load their wallets into the dapp and stake their UPR on the wallets tab. Every time a transaction in the dapp occurs, 5% of the ETH will go to the UPR staker’s pool. Each user who is staking UPR will split the ETH in the pool based on the proportion of UPR they own relative to the entire pool.

Liquidity Mining

We will implement liquidity mining on Unicrypt on a much larger scale in order to ensure there is sufficient liquidity on Uniswap for the UPR token.

BNB Wallet

The dapp will include a fully-functional BNB wallet that will be capable of storing BNB and a bridged-version of the UPR token.

ETH Network Integration

We plan to integrate ETH into the dapp and offer solutions for using both networks. Paid files will either be released on the ETH network or BSC network, and users can switch their network and purchase files on that network.

xDai- Layer 2 integration

When ETH is integrated into the dapp, we will implement it on xDai in order to deal with the high network fees. On xDai, transaction fees will be fractions of a penny, allowing for users to transact freely on the network.

Governance

In the future, the Upfire project will be 100% decentralized, with the existing team serving as just another contributor to the project. Full information on the Upfire Governance System will be released in its own post.

Treasury Integration

The Upfire Decentralized Treasury will have control over a supply of UPR tokens, with a set issuance each year, chosen by token holders and voters. More information is below.

UPR Token

Total Supply: 1,000,000,000 UPR

Swap amount: 1 UFR — -> 10 UPR

We will be having a token swap, UFR → UPR, upon the launch of Upfire this week. UPR will be a utility and governance token, used to give users full control over the Upfire platform.

The UPR Decentralized Treasury

Upon implementation of the treasury, a large portion of the non-swap UPR will be transferred into the treasury smart contract. The treasury will then set a yearly emission rate for the UPR token. UPR holders will then be able to take full control over the project by creating and voting on proposals regarding the expenditure of UPR and the overall direction of the project. Because Upfire is open source, users can choose to hire more developers if they feel development speed or progress needs to be increased. They can also create marketing events and gain funding for them if needed via the treasury.

Upfire (UPR) Tokenomics

Total Supply: 1,000,000,000 UPR

Smart contract-based decentralized & incentivized P2P file-sharing platform