Hello, @antonio and my fellow members of ₮RON Community,
Thank you for giving us the chance to share our project!
Project Info:
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Project Name: UpDawg
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Project Track: DeFi
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Team Name: uDawgDAO
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Team Member(s): 2,
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Dorahacks BUIDL Link: Click here!
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Website: udawg.org
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Smart contract: Click here!
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Twitter: @udawgdao
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Project Repo: GitHub Contract Repo
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Deck: UpDawg Deck (7.7 MB)
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Demo video: Watch here!
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TronDao Forum - UpDawg Topic: Click here!
UpDawg is a deflationary token on the TRON blockchain, backed by ₮RX. It burns a small portion of each transaction on dawgDEX, reducing the total supply of UDAWG tokens over time and increasing the value of the remaining tokens. This mechanism helps to maintain the scarcity of the token and potentially increase its value compared to the ₮RX reserve.
The Proof of Reserve mechanism ensures that every UpDawg token is backed by a corresponding amount of ₮RX, which stabilizes the value of UpDawg.
UpDawg was launched with no pre-minted tokens, pre-sale, or ICO. The Launchpad established the initial price of UDAWG token against 1 ₮RX on TRON mainnet. It is now available for trading against ₮RX.
In addition to the deflationary and HODLpool incentives, uDawgDAO buys and burns UDAWG tokens from their various revenue streams. This process of buys and burns keeps pushing up the price of UDAWG against ₮RX. This can be seen as a way to payout dividends from the various revenue streams of uDawgDAO.
We recently launched Bark, a public chat room where users can engage in conversations anonymously. In the future, users will be incentivized in UpDawg for their engagements on the Bark platform.
UpDawg provides an investment opportunity for both short-term and long-term HODLers to earn passive income through various platforms and utilities. With more utility cases on the way, UpDawg HODLers will have more options to spend and earn tokens in both the real and digital world.
Thank you for your interest in UpDawg!
Best regards,
@astitv & the UpDawg team 