The cryptocurrency market is developing rapidly due to the emergence of new, technological projects. Usually they are launched according to the classic scenario – creating a minimum viable product (MVP), attracting investment through a tokensale, finalizing it, and entering the market. The most promising projects receive CEX support. Listings on major exchanges significantly increase asset ratings. Cryptocurrencies can shoot up immediately or accumulate the potential for further growth. For example, MEXC recently poured a new token UBDN. This article discusses the key features of the project that may affect the price of the cryptocurrency in the future.
What is UBD Network
Developers are creating a platform of decentralized trusts. This is a blockchain analog of the traditional wealth management system with improved features that are provided by the use of digital technologies.
Historically, trusts are based on English law. It is a basic asset management institution. It is designed to preserve and multiply funds. It is based on trust management of capital with the possibility of its transfer to heirs without paying taxes.
Due to the high entry threshold, the instrument was available only to rich people – there is no open data on this segment of the market. According to experts’ estimates, the total amount of funds under trust management amounts to trillions of dollars.
UBD Network modernizes this financial instrument with the help of blockchain technology. The project makes trusts available to a wide range of users. Clients are offered transparent tools to accumulate, manage and transfer funds to heirs. Application scenarios can be different. Investors create and modify them independently by setting the necessary parameters in smart contracts.
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To interact with the platform, the project team has developed 2 types of coins:
- UBD Algorithmic Stablecoin. This is a reserve asset tied to USD and backed by BTC, ETH, other stable coins.
- UBDN Token. The coin powers the ecosystem and guarantees holders monthly rewards in UBD.
How it works
UBD Network is a smart contract system that acts as a user network with end-to-end E2ED decentralization. To participate in the project, you need to purchase a UBDN token. The cryptocurrency is traded on MEXC, BitMart, XT.COM, and Uniswap exchanges.
Holders can become Guardians – to maintain the work and security of the ecosystem. To do this, you need to:
- Place a minimum of 1024 UBDN in the wallet for 30 days (Epoch).
- Cryptocurrency cannot be transferred before the end of the term. The algorithm keeps track of the wallet’s status.
At the end of each Epoch, Custodians are rewarded in UBD stablecoins. They are used to create trusts and customize the terms of asset management. Also, 50% of deTrust user fees and 50% of commissions from UBD conversions are distributed among UBDN holders.
Project features
Decentralized capital management system does not require the participation of intermediaries and external control. The investor independently sets the terms of the trust, and the smart contract exactly fulfills them. For example, it is possible to protect heirs from irresponsible spending. To do this, the account owner blocks access to the funds. The heirs will only receive interest on the deposit. Other features of the project:
- Assets in the trust can be placed in a staking and receive monthly profits.
- Investors are able to change the terms of money management at any time or create a new contract. The commission for editing is 500 UBD. In traditional trusts, it is $25k.
- Proof-of-Reserved concept guarantees storage of clients’ funds in full.
- The decentralized structure of the protocol excludes denial of inheritance and other legal risks. However, in relation to UBD Network, it is necessary to take into account the rules of using digital products in force in the country of client’s residence.
- The project does not track investor activity and does not share information with third parties.
- Unlike a traditional trust, a deposit on the platform can be created in 15 minutes. Price of the service (basic tariff): retention 128 UBDN, 0 UBD per month. In classic trusts, the starting deposit is a minimum of $50 thousand. The process of registration takes up to 6 months.
Pros and cons of decentralized trusts UBD Network
The developers of the project offered a flexible and reliable tool for managing cryptocurrency assets and realizing the inheritance procedure using blockchain technologies.
The platform provides protection of funds in users’ wallets. This is possible, among other things, thanks to the Hold and Gain rule: investors must keep assets in the account during the term of the contract and not transfer them to other addresses.
The status of accounts is monitored by a special algorithm. This also simplifies the work with the platform and minimizes the risk of hacker attacks. Other pros and cons of the project can be compared in the table.
| Advantages | Disadvantages |
|---|---|
Main characteristics of UBDN token
This is the main tool for earning money in the UBD Network ecosystem. The cryptocurrency is launched on the Ethereum blockchain under the ERC-20 standard. In the future, the native UBDN token will be migrated to its own network.
| Characteristics | Values |
|---|---|
Additional ways to earn money
To ensure maximum safety of assets, the developers have implemented the Hold and Gain rule. Clients’ funds are always on their wallets. At withdrawal, the holding period is interrupted and the rate is reduced to the minimum.
As additional opportunities for earning, investors are offered stable coin staking and participation in the referral program.
In the first case, clients receive passive income. The referral program requires a small amount of activity. In addition, participation in airdrops is available.
Steaking
The option is available only for UBD holders. To participate in steaking, you just need to place a stablecoin in your wallet. Income will be credited automatically (depending on the number of coins and holding period).
To calculate the exact profit, you can use the online calculator on the project website. To select a period, just move the slider. The program will give the result taking into account compound interest. This will allow you to multiply your investment.
The investor can withdraw the deposit at any time and receive the accrued interest. In this case, the holding period is interrupted, the rate is not saved.
Referral program
UBD Network clients can earn by inviting new users to the project. The multi-level affiliate program provides rewards for the activity of direct referrals and below. You can get a link in your personal cabinet, distribute – in social networks, blogs, messages. For each token swap by a referral user receives up to 10% in USDT (depending on the level).
Airdrop
Ahead of the UBDN listing, the MEXC exchange held a giveaway of the project’s tokens. Participation required holding MX coins in a spot wallet at the time of the snapshot. The winners shared a prize pool of 4673 UBDN and 30k USDT.
The MEXC platform was one of the first exchanges to support the project. The team will continue to implement the listings program. This means that customers will still have the opportunity to participate in native token giveaways.
Is it worth investing in UBDN in 2024
UBD Network is the first fully decentralized platform for fiduciary capital management and inheritance of digital assets. The project opens wide access to classic trusts. The platform solves the main problems of this financial institution with the help of blockchain technologies.
The UBD Network team was one of the first to modernize the huge niche of trust savings. Historically, flagship projects attract the most investment. The platform is growing rapidly, which provides strong support for the native token. UBDN coin can be a good investment in the emerging cryptocurrency market.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
