[AMA Question] Why is there a new token on Near/other chain ?

UPFI Network
2 min readApr 25, 2022

💡We have been receiving numerous questions about Cross Chain on Near, UPN, roadmap, updates.etc. In respect to that, we’ve decided to start a weekly education series where We collect the most frequently asked questions from the community and answer them.

🔎 So here is the first one:
Why is there a new Token on Near chain?

The answer 👉:
The team had a cross-chain / multi-chain plan on the roadmap of which The team is still trying to develop inorder make the project the best and still stick to the roadmap.

1. Project — — On each chain, the project will need backers to support network expansion as well as finance.
- Multi-chain makes that stablecoin chain more secure and stable when there is a native share token (UPS/UPN)
- After UPFI each chain is gradually stabilized, there will be a bridge to cross UPFI between chains.

2. Community & investor
- Share token (UPS/UPN), each chain will be staked and minted into xUP and used in UPFI World (there are many advantages for xUP Holders on the first chain)
- There will be a cross program for xUP holders
- Token management mechanism will be taken by DAO (xUP holders) in the future
- When UPFI is applied on multiple chains, the share token of the chains will increase in value at the same time.

In this way, the project will develop longer and more sustainable, avoiding the risk of cross-token that has occurred recently. You can read more about cross-chain and multi-chain mechanisms to better understand.

P/S Keep following up and get updated with these answers, We will run Quiz with Rewards in the future, so you guys can have a chance to earn with Upfi.