What Is UpStableToken (USTX)?
UpStableToken (USTX) is a token implemented using a TRC20 smart contract deployed on the Tron blockchain. It leverages all the underlying features of the Tron network, like low fees, DPOS, low environmental impact. USTX can be obtained by exchanging USDT, USDJ, TUSD, USDC (TRC20) on DEX. There will be a launchpad phase, where a finite amount of USTX will be offered at a fixed price: Round 1 will offer 10M tokens at 0.01USDT, Round 2 will offer 10M additional tokens at 0.012USDT. After launchpad, the USTX tokens can be exchanged on the DEX, at market price, starting at 0.015USDT.
UpStableToken (USTX) Other decentralized and centralized exchanges will be added in the near future. To get TRX you need to exchange some other tokens or fiat currency for TRX and send it to your Tron wallet address. The easiest way is through an exchange. To get the stablecoind needed to purchase USTX you can use an exchange that supports sending to TRC20 addresses. Another very easy way, if you already have TRX in your wallet, is to use SunSwap (or another DEX) to swap TRX into USDT (or USDC, TUSD, USDJ) on-chain.
UpStableToken (USTX) Storage Key Points
|Circulating Supply||15,330,909.11 USTX|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
UpStableToken (USTX) The project is built around two pillars: the USTX token and the DEX. The token is a TRC20 contract, deployed on Tron blockchain, implementing the needed features to enable simple transactions at very low fees. The DEX is the core of the project. A smart contract actively manages all exchange transactions on the USTX/Stablecoin pairs (USDT, TUSD, USDJ, USDC), with the goal of keeping the internal stablecoins reserve at a certain level compared to the circulating market cap of the token.
UpStableToken (USTX)If the reserve is above the target level, the system allows price expansion during up-trends of the market and dampens price reductions during down-trends, reducing volatility. If the reserve is below the desired level, the system reduces the expansion and damping effect, to recover the reserve levels.
UpStableToken (USTX)All this is managed on-chain, without the intervention of the owner of the contract. The stablecoins reserve is locked inside the DEX contract and is verifiable on chain by any user. This provides intrinsic value to the USTX token. Being multiasset, the reserve guarantees resiliency. Also, since the price action is not based on oracles, it’s immune to avalanche effects in case of price fluctuations of the stablecoins. The smart contracts are audited and open source.
UpStableToken (USTX)USTX project aims to be sustainable. 90% of the liquidity raised during launchpad is locked in the DEX reserve. 5% of the USTX liquidity raised during Launchpad will be shared as rewards among the community testnet participants. During normal DEX operation a 1% fee (applied only on sell transactions) will guarantee long term sustainability of the project. The team tokens are placed in vesting smart contracts to enforce the release date.
UpStableToken (USTX) One of the main risks for an early token/coin adopter is being scammed by the team proposing the project. For this precise reason our main goal has been from the beginning to build a trustless and decentralized system. That’s why the smart contracts will manage most of the token and DEX operation autonomously. The team will not be allowed to tamper with the contract parameters outside predefined levels, hard coded in the contract code and visible to anyone, because the code is open source.
Is it true that USTX price can only grow?
UpStableToken (USTX) Unfortunately, no! The USTX price is actively managed by the smart contract with the goal of reducing the price decrease during bear markets, thus reducing volatility and drawdown. But USTX is NOT a stablecoin. There is a compromise between growth potential and loss protection and since want the value to increase over time, we need to be prepared also to some losses.