Exnetwork Capital Invests in Algorithmic Stablecoin Startup UPFI Network

Exnetwork Capital is proud to announce their latest investment, UPFI Network the first stable coin protocol whose goal is to create a highly scalable, non-custodial, extremely stable, fractional-algorithmic, and pure on-chain financials on Solana. The company is looking forward to starting the expansion and growth of the project through their marketing initiatives.

Introducing UPFI Network

The end goal of the UPFI protocol is to provide a highly scalable, decentralized, algorithmic money inplace of fixed-supply digital assets. Only a portion of the capital necessary to mint is denominated in other stable assets. The remainder is denominated in a volatile asset required as collateral.

In order to mint 1 UPFI token, the user must deposit approximately $1.00 worth of collateral into the protocol in the form of USDC & UPD token. This ratio is determined by the Target Collateral Ratio. The percentage of USDC token required is always equal to the TCR percentage, while the required percentage of UPS token is 100% minus the TCR percentage. On the other hand, the protocol burns the redeemed UPFI token and pays the user approximately $1.00 worth of value in USDC and UPS token. The ratio of USDC and UPS token paid to the user is determined by the Effective Collateral Ration (ECR). The ECR percentage equals the percentage of USDC token the user receives in the redeeming process, while the percentage of UPS token paid to the user is the sum of 100% minus the ECR percentage.

Read more about UPFI Network through the following channels:

Website: upfi.network
Twitter: https://twitter.com/upfi_network
Medium: https://upfinetwork.medium.com/
Telegram: http://t.me/UPFInetworkchat
Facebook: https://www.facebook.com/UPFInetwork

About Exnetwork Capital

Exnetwork Capital is an incubator composed of an exclusive group of investors, builders, traders, and influencers mandated to promote and raise funds for crypto projects in the Crypto industry to guarantee their spot in the mainstream.

Exnetwork has been a leader in the space since 2018. Their portfolio companies include FTX Exchange, Orion Protocol, Thorchain, Celsius, Serum, and Polkadot.

Website: http://exnetworkcapital.com/
Medium: https://medium.com/exnetwork/
Telegram: https://t.me/exnetworkpublic