As technology advances, social media users are becoming more concerned about how social networks handle users’ data, and what security measures are deployed across such networks. With data becoming the new oil and a cash-cow for social media giants, the quest for decentralized information-sharing is now on the rise. Uptrennd is a social media company aiming to reinvent the business model and bolster support for privacy and free speech.
People are getting more educated about how traditional social media companies are leveraging their personal information to stay highly profitable. This awareness accounts largely for why decentralized social media networks like Uptrennd, Steemit, and Hive are now going mainstream.
What You Should Know About Uptrennd
Uptrennd, which launched last year, has already gathered a massive userbase. Barely a few months after launching, Uptrennd has witnessed an astronomical level of growth with a batch of new users signing up each day, thanks to its user-friendly and value-focused ecosystem. By design, Uptrennd has been able to re-engineer a social network based on a decentralized sharing economy where users get rewarded for uploading and engaging on content related to cryptocurrency, blockchain, technology and gaming.
Uptrennd as a platform has been able to overcome existing barriers reaching out to non-crypto users who can tap into its resources without prior crypto knowledge. By simplifying the platform, Uptrennd addressed one of the biggest challenges that have stood in the way of widespread crypto adoption.
The noble social network is built on four rock-solid pillars which account for the massive success it experienced since going live. Its operating model is established on preaching and practicing fair distribution of wealth, freedom of speech, equality of opportunity, and data privacy.
It gives users the freedom to voice their diverse opinions without censorship based on subjective biases while keeping up with the platform’s legal requirements and community guidelines. By providing equal opportunities, Uptrennd gives every user, both new and old the needed visibility and the opportunity for their voice to be heard in the most secure atmosphere.
The Uptrennd Token Economy
The Uptrennd platform is powered by a deflationary token economy, the 1UP token. Users earn points that can be redeemed into 1UP tokens for withdrawal. Uptrennd is growing at a breakneck speed among its decentralized social media counterparts like Steemit and Hives. Since the beginning of the year, the Uptrennd platform has witnessed over 60 percent monthly growth to break a record 100,000 users.
The 1UP token is currently listed on four exchanges including IDEX, p2pb2b.io, Altilly, and Uniswap. The token is also being tracked by popular coin aggregators like Coinmarketcap and Coingecko. Plans are currently underway to get 1UP listed on other top exchanges.
At the time of putting this piece together, 1UP was trading at $0.003802 after opening trading at $0.001518 at the start of the year, printing over 120% gains from year to date. With further adoption, future listings, and platform on-chain upgrades, the token is well poised for positive price action.
The total supply of 1UP is capped at 1,000,000,000 tokens with a current circulating of 144,422,687 tokens. The circulating supply increases whenever a user redeems points earned on the platform. Points can be redeemed by sending them to an ERC20 wallet which automatically credits you with the corresponding amount of 1UP tokens.
Uptrennd adopts a similar mechanism like the Bitcoin halving to limit the number of tokens that currently goes into circulation. The algorithm is ‘set in stone’ to halve the reward received in the point system once the circulating supply grows above 200 million. The reward system is halved for every 200 million growth in circulating supply.
The Uptrennd Team Is Committed To Its Long-term Growth
Uptrennd is pioneered by founder and CEO Jeff Kirdeikis, an innovative and passion-driven entrepreneur who is also the founder of the CI network, a cryptocurrency investment network that boasts of over 1.6 million members.
By staying true to its mission in achieving a decentralized sharing ecosystem, the project never conducted an ICO. Most of its tokens in circulation were earned by sharing content and engaging with the platform. Despite the non-existent of a token sale, Uptrennd has been able to generate a viable revenue-generating model for its users and the platform at large.
To create more token value for its users, the laid down operating model triggers a token buyback with a portion of the net profit realized during a given period while the rest of the revenue is put into the project’s wallet for further development of the ecosystem.
How Uptrennd Plans To Evolve And Scale In The Future
At present, Uptrennd is fully web-based but the development of the IOS/Android version of the Uptrennd application is currently underway. To achieve a sustainable decentralized ecosystem, Uptrennd has planned a transition to an on-chain DAO platform.
The transition will be built on the well-established InterPlanetary File System (IPFS) libraries which will aid the storage, sharing, and retrieval of data-intensive content on the platform’s distributed network in a fast and efficient manner. This transition will further tighten security and improve privacy within the platform.
This move will also check for abuse and user manipulation of the point system which is currently raising mild concerns within the Uptrennd community.
In conclusion, Uptrennd is presently taking all the required steps to create an ecosystem that not only drives value back to the community but also gives them control over their information.