The MoneyUP Whitepaper
Abstract
MoneyUP is an auto-rebasing, autonomous, community-oriented project possessing an auto liquidity pool algorithm and auto-buyback. The supply is mathematically guaranteed to increase in price until it reaches 113,730.2 USD per token. MUP utilizes a flexible supply mechanism to dynamically adjust supply to meet an increasing price peg. The listing price begins at $0.00000000017 and increases by 10% every 8 hours until it reaches the ceiling. A 10% tax per transaction is charged by the network and split between liquidity and marketing provisions.
Introduction
It is considered symbolic to rebase a currency as it does not have any impact on the exchange rate of a currency with others. However, it may have a psychological impact on the population by suggesting that a period of hyperinflation is over, and remove the reminder of how much inflation has impacted them. The image of the currency is also improved by the reduction in the number of zeros. On the contrary, MUP uses rebases to float up in price, at a minimum rate of 10% every eight hours, not to influence geopolitics.
MUP is unique in its mechanism with no other tokens on the market that operate on the same protocol. The contract mathematically guarantees a constant minimum price increase over time before reaching a ceiling. This process is entirely automatic after the first supply-adjustment is called. All the initial liquidity will be locked until the ceiling is reached.
Starting with an initial target price of $0.00000000017 as the peg, MUP’s price increases by 10% every 8 hours, contracting the circulating supply when the current trading price is below peg. The rebasing mechanism can be called every hour to make for a more continuous price rise. After 108 days the price MUP reaches its ceiling price of 113,730.2 USD per token and then maintains a close stable peg to this value.
MUP also introduces RFI type burning and an LP acquisition fee mechanics for every trade, amounting to a total of 10%. 5% is used for marketing and another 5% added to the MUP/BNB LP to minimise price movements when large wallets decide to sell their tokens in the future, which leads to a reduction in significant price fluctuations away from the exponentially increasing price floor when compared to coins without an AutoLP system. This also acts as an arbitrage-resistant mechanism that secures a portion of the volume of MUP as a reward for the holders.
Protocol
An elastic supply (or rebase) token works in a way that the circulating supply expands or contracts due to changes in token price. This increase or decrease in supply works with a mechanism called re-basing. When a rebase occurs, the supply of the token is increased or decreased algorithmically, based on the current price of each token. In some ways, elastic supply tokens can be paralleled with stablecoins. They aim to achieve a target price, and these rebase mechanics facilitate that. However, the key difference is that rebasing tokens aim to achieve it with a changing (elastic) supply. MUP differs by having an increasing peg price and no positive rebases, making MUP a upcoin.
Rebase mechanisms
Let’s have look at mathematical equation below:
M is the marketcap of MUP, S is the total supply of MUP, P is the price. By modifying the total supply using a rebase, we wish to change the price. if the M is a fixed number, and S is less than before, the P will become larger.
We know that at any given moment, in the absence of any trades, M is constant. This means we may assume without loss of generality that m0 = m1. This fact can be used, along with equation before, to give
which implies that to reach our target price pt+1, we must set the new total supply to be
Price Target
We set target prices based on a peg price, in USD. Starting from the initial peg pˆ0, we increase the peg by 10% every 8 hours. This means the peg price can be expressed as
We have a calculation about the price that it will pump 2613 times after 30days later!
Transaction Tax
MoneyUP employs an automatic liquidity pool algorithm (MOOTHY) in its contract. The network collects 10% from each transaction, whether to buy or sell, and splits it between MoneyUP MOOTHY and Marketing. This also acts as an arbitrage-resistant mechanism that secures a portion of the volume of MUP as a reward for the holders.
10% transaction tax is applied to each transaction (buy or sell) and shared between:
- 5% added to liquidity provision to create a solid price flood and secure a portion of the volume for holders.
- 5% to the marketing budget to support the growth of the MoneyUP community.
Conclusion
MoneyUP is aiming to launch the world’s first community-driven quantitative cryptoasset manager (hedge fund) using the liquidity raised. Those who hold MUP when MoneyUP reaches its final price peg of $113,730.2 will gain special access to the new fund, and also receive a dividend payout.
There is a requirement for the total liquidity to be $50m+ when the final price peg is reached for this second phase to proceed (half for a dividend payout to all holders, half as initial fund liquidity). More information can be found in a letter from the MUP Dev.
Links
Twitter: https://twitter.com/moneyup_finance
Telegram: https://t.me/moneyup_finance
