Upland announces Economic Update

Details on introducing a new funding mechanism, an in-app voting system and more have been revealed.

Aug 21, 2022
by Dragan
Upland announces Economic Update
News

Uplandme, Inc., the Silicon Valley-based company behind Upland, a virtual property trading mobile and web game, have announced an economic update at the beginning of this month.

The official article that talks about the update features info on implementing a new funding mechanism for the Upland Pool, introducing an in-app voting system for community governance proposals, minting more Spark and keeping property earnings at 14.7%.

Instead of going with the funding mechanism initially laid out in the game’s whitepaper, the developers would like to go with a new UPX funding mechanism for the Upland Pool near the end of Q3 this year, as the original one, while feasible, would not help in providing “progressive decentralization.” Thus the team has come up with a simple new mechanism that would better help in creating a more decentralized economy all the while optimizing the UPX circulation. Instead of minting UPX that goes to the Upland Pool, all of it would go to the Community Pool, and it would only happen if minting is necessary, allowing the Community Pool to fund the Upland Pool.

With the voting system planned for launch in Q3 this year, players will be able to vote on whether they’d like to have the new UPX funding mechanism introduced, or keep the one in the whitepaper until a new method is made.

For more info on things such as the formula to be used for the funding method and more, check out the official article here.

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