Digital money for a digital age. Global, fast and up-only.
Stablecoins have established its crucial role within the cryptoverse. As a medium of exchange backstopped by a store of value, there have been numerous systems deployed as a means to distribute, stabilize and transact value.
We have seen such systems (not limited to)
- Fiat backed systems — dollar reserves.
- Crypto backed systems — crypto reserves.
- Commodity backed systems — stabilized by hard assets such as gold, silver or real estate.
- Seigniorage systems — algorithmic systems adjusting a token’s supply in accordance to demand.
From the above, fiat backed stables such as USDT and USDC have consistently held through the test of time (as shown in the growth of their respective total market capitalizations). As a team we wondered if there was a way to introduce a crypto asset that would hold value above an expected threshold (as any stablecoin would) but still provide upside from a value accrual standpoint. Such an asset would be a prime candidate for speculative participants around the world.
As such, we are pleased to introduce to you the first addition to the upOnly ecosystem, upTether.
upTether is a 2nd-layer speculative asset that combines the stability of Tether’s price with the utility of the ERC-31337 protocol to create an asset sturdy enough to prosper even during the most bearish of markets.
By marrying these two concepts it provides the best of both worlds, a mathematically verifiable floor value for each asset while providing exposure to further upside as a result of buybacks and initiatives enabled through use of its own underlying liquidity.
Simply put, one upTether >= one USDT, where one upTether is attainable by one USDT.
Traditional finance suggests as investors we should measure the performance of our investments against a risk-free alternative, after adjusting for its risk (Sharpe Ratio). As it relates to upTether, the asset return (Ra) relative to risk-free return (Rb) is such that it would never drop below the asset it is paired against, which in this case would be USDT.
Where to Ape?
To learn more about the upcoming M.G.E (Market Generation Event), where upTether will be made available click here.