Upland's Spark Token Now Tradable On Ethereum
The new token, Sparklet, is a thousandth fraction of Spark and will be tradable on Ethereum.
Upland has announced its token will now be tradable on Ethereum after it got an 87.25% vote from its community supporting the move. This development will be instrumental in its vision of building the biggest digital open economy in the metaverse.
TTE And The New Sparklet Token
Last month, Upland shared its Sparklet Whitepaper to its community for review. The document included details on the proposal to Spark into the Ethereum chain, where it will be traded as Sparklet. This move will allow Spark to be tradable outside Upland, where it serves vital functions such as NFT mining, world-building, and asset creation.
Based on the acceptance of this proposal, Upland is Organizing a Token Tradability Event (TTE) where Spark, as named by the EOS chain, will be created as Sparklet on Ethereum.
This event is important as it expands Upland's activities in the metaverse.
Founder's Opinions On Sparklet
A Co-Founder, Dirk Lueth, said Sparklet facilitates our goal of responsibly advancing towards progressive decentralization. It grants our users tradability but with protective mechanisms to safeguard Upland's economy. Trading Sparklet externally can heighten Upland's visibility, boosting its credibility and liquidity for existing Spark holders."
Another Co-founder, Idan Zuckerman, said,
“Our observations assure us that we're laying the groundwork for a sustainable Spark economy within Upland. The introduction of Sparklet signifies a moment where players can genuinely possess and freely trade Spark.”
Currently, players must have Spark in Upland to build or create items. 93.6% of the over 130,000 players holding Spark have used it on the platform for at least one purpose.
Sparklet is expected to be a thousandth of Spark after it is created as an ERC-20 token. Since there are 1 million Spark tokens, there will be an equivalent of 1 billion Sparklet tokens.