UPFI Network UPS Price $ 0.00015

UPFI is the first stablecoin protocol that designed principles to create a highly scalable, non-custodial, extremely stable, fractional-algorithmic, and pure on-chain finance on Solana. It supports next-generation payment networks on the blockchain. UPFI aims to replace fixed-supply digital assets by bridging the gap between digital currencies and real-world applications with transaction costs of almost zero.

The UPFI token is a partially collateralized and partially algorithmically stabilized token soft-pegged to the U.S. Dollar. The protocol's goal is to keep the UPFI token price stable. 

Two tokens are used as collateral: USDC and the UPFI share token (UPS). When a user mints UPFI by depositing USDC and UPS, the USDC is locked in the protocol, and the deposited UPS is burnt. When a user redeems UPFI for the underlying collateral, the user gets their deposited USDC back, and the protocol mints UPS. This dual-collateral design along with the redemption mechanism helps to keep the price of UPFI stable.