As announced before, the YouCoin Ecosystem will be launched on the BNB chain soon, so without further ado, let’s explore YouCoin Upool V1 first!
The new version of YouCoin on the BNB chain will synchronize the parallel migration of V1 on the SERO chain to the BNB chain. After the migration of V1, V2, and Upool on the original SERO chain is completed on the BNB chain, it will be renamed to Upool, currently divided into Upool V1 (direct migration of V1 on the original SERO chain), Upool V2 (V2 and Upool on the original SERO chain will be merged into Upool V2 on the BNB chain), and in the future, the brand new Upool V3 will be launched as well. Each version of the mining pool has its own unique characteristics, suitable for the different needs of different users, without any conflicts or disparity.
Upool V1 — Characteristics
- Stake one token to earn two tokens.
- New Defi staking financial model — Equilibrium Strategy and Conservative Strategy.
- The perfect combination of NFT and bonuses allows the loyal, high-contributing owners of Umedal NFTs to get extra bonuses in each round.
- Earn high APY on both the token and USD, especially in a bear market.
- Invite your friends for extra income. Earn cryptocurrency together.
Upool V1 — Bonus Pool and NFT
The bonus pool of Upool is the integrated version of Upool V1+V2. Part of the performance fees of V1 and V2, as well as 3% of V1 will flow into the bonus pool. Everything concerning the bonus pool is accessible in the main interface of V1.
- Time left until the next dividend
- Bonus pot
- Amount of bonus distributed
- Your Umedal NFT rank
- Your total amount of bonuses harvested
- Your recently earned bonus
Upool V1 — Staking Pool
Upool V1 continues the classic V1 mechanisms but has been thoroughly revised and optimized in terms of interface and functions. We expect to prioritize three mining pools at first: UCON, SERO, and ETH, and we will be launching pools for other mainstream tokens such as BTC, BNB, and DOT in the near future. Anyone who owns any of these tokens can participate in staking to earn a Take dual-currency reward (UCON pool is a single-currency reward). There is no minimum amount set for staking and you can be a part of UPool with any amount of assets. The main differences from the classic V1 are as follows:
- The interface will automatically calculate and display APR/APY according to the actual earnings, helpful for users who want to analyze the current reward of each pool and their personal reward history data.
- The extra power and medal power are calculated independently for each pool, and the rewards are distributed independently. The V1 referral code is shared with V2.
- The daily reward release amount is flexible and will be automatically adjusted according to the smart contract. The smart contract will automatically adjust according to a certain proportional relationship between the newly added stake and the release amount.
- The new V1 will adopt the same gold standard calculation method of direct power as the original V2.
- The new V1 will take the smaller of the two, and there will be no 100,000 SERO limit unlike the original version, and each pool will be compared according to the actual value.
- All pools of the new V1 have a 13% performance fee when staking, of which 4% is reserved for the team, 3% flows into the bonus pool, using another 3%, SERO will be automatically repurchased into the SERO pool corresponding to the user V1, 2% will be used to automatically repurchase UCON and flow it into the DAO dividend pool, and the remaining 1% will be allocated to the automatic repurchase of UCON to be burned. The performance fee will not be deducted from the user, instead, it will be deducted from the main pool of the V1 contract.
- When staking the new V1, there will be equilibrium strategies and conservative strategies, and a richer financial model that can meet the individual needs of almost all different users. Please look at the pictures below for detailed rules.
Upool V1 — Staking Strategy
According to the different needs of users, two receiving strategies can be selected when staking the new V1: equilibrium strategy and conservative strategy.
- Equilibrium strategy: That is the classic V1 stake model, all the assets staked will flow into the V1 main contract pool. The release rate in this strategy is twice as fast as the conservative strategy.
- Conservative strategy: An innovative staking model, 50% of the amount staked, called the gold standard, will flow into the V1 main contract pool, and become the staked amount that actually counts toward earning. The other 50% will flow into the V1 conservative strategy contract pool and will not participate in the release calculation of normal earnings, but it will still count toward the mining quota, direct power, and UMedal power. Once the 50% staked amount is doubled, it can be manually unlocked in the pool interface (users can decide themselves). After unlocking the assets, the user will have no losses on the gold standard, and all the rewards harvested during the staking period can be considered profit. Even if the gold standard has yet to be doubled, users can still unlock their assets ahead of time, but the contract will deduct 50% of the unlockable amount as liquidated damages, which will automatically repurchase UCON and burn the tokens.
All the V1 content and interface conditions introduced in this article are previews of the V1 version at the current development stage, and the final content might be subject to the final launched version or subsequently updated articles (there will be no big differences). Please stay tuned to our social media platforms during the launch phase of the YouCoin Ecosystem on the BNB chain.
Thank you for your attention YouCoiners!
We look forward to entering a new YouCoin Metaverse together!
