Utility

Network fee

When conducting transactions on UPCX, users and protocol owners must pay a small network fee. This network fee is allocated to block generation rewards, Fee Pool, and if applicable, to referral fees of referral programs, in order to contribute to the maintenance of the UPCX network as well as the expansion of the whole ecosystem.

Additionally, as described in MPA (Market Pegged Asset), it is also possible to pay network fees using MPA.

In case that an MPA is used to pay network fees, these network fees are also allocated to block generation rewards, Fee Pool, and if applicable, to referral fees of referral programs. However, in order to maintain the value of UPC, UPC with the same value as the network fees in MPA are transferred from the Fee Pool to the Reservation Pool and burned.

By delegating to any Witness, UPC holders can earn staking rewards through Witnesses.

Witnesses can earn compensation by contributing to block generation and to the network’s security.

Governance

UPC holders can indirectly participate in the selection of Witnesses based on their UPC holdings. Witnesses can participate in the approval of UPCX related issues to be worked on and on which solutions to implement. Please refer to Governance for further details.

MPA Collateral

UPC can be used as collateral to support the issuance of MPA. For details on MPA」, please refer to MPA (Market Pegged Asset)."