I’ve been invested in and covering UPDC since 2018. In that time, through thick and thin, I’ve seen the Core Team stay focused on their long term vision. That vision is best defined as a simple solution to financial freedom using Blockchain Technology. It is a vision for creating a globally adopted cryptocurrency. It was designed to solve key problems we felt were restricting the adoption of cryptocurrencies as a form of payment while giving early users an incentive to join. Throughout the last couple of years, the team has received feedback from the community asking for specific items that they felt would make the project more transparent. Well, folks, the time has come! UPDC has transitioned to become The Centric Foundation complete with a public team, a new website, a decentralized token, p2p, and listing on major echanges. The following message has been released on the old upstake exchange, and all social channels to let the community know about this wonderful development.
UpStake Website Announcement
UPDC Protocol Upgrade (Hard Fork)
3rd February 2020
Two years ago we launched our vision for creating a globally adopted cryptocurrency, it was designed to solve key problems we felt were restricting the adoption of cryptocurrencies as a form of payment while giving early users incentive to join. The team has learnt a huge amount over the last couple of years and we are now ready to take the next step in our journey.
We are now upgrading the token protocol (hard fork), listing on external exchanges (decentralizing) and sharing more information about the future of the project. The founding team want to take this opportunity to thank everyone for their amazing support over the years and we look forward to many more years of continued success.
UPDC is being hard forked (replaced) by Centric. For more information please go to the official website. www.joincentric.com
Existing holders of UPDC will be airdropped 1:1 to the new token Centric Rise (CNR) immediately through a hark fork of the existing UPDC network. This means if you hold 100 UPDC you will receive 100 Centric Rise (CNR). To view your Centric balance login to the Centric wallet here. Your login details are the same as UpStake.
What is Centric?
Centric is a dual cryptocurrency payment network and the next iteration of UPDC. The first token, Centric Rise, steadily increases in price hourly, offering a reliable store of value and an incentive for new users to join the network. The second, Centric Cash is pegged to the first token and freely trades on major cryptocurrency exchanges offering liquidity and an onramp to Centric Rise.
Any users can exchange between the two tokens which is governed by a decentralized smart contract. The protocol self-regulates the Centric Rise token supply to meet ongoing changes in demand for Centric Cash. From a new user perspective, Centric is a payment network and a reliable store of value. For more information, check out the official Website www.joincentric.com
Given the upgrade to the token protocol and hard fork, we have put the exchange into a trading halt and plan on closing the website in due course. Members will be given 90 days to withdraw any BTC from their wallets. To log in to UpStake click here. Registration of new accounts is now closed.
Will be closed in the following months.
Anyone that purchased Premium Memberships will be fully refunded either the BTC and/or UPDC they invested into premium membership. BTC will be credited to your UpStake account within 14 days and UPDC burned upgrading membership will be automatically converted to Centric Rise and deposited as an airdrop into your Centric Wallet within 14 days.
Holders UPDC staked at Moolah will be airdropped 1:1 to the new token Centric Rise (CNR) once upgrades to the moolah.bet platform and the full deployment of Centric Rise are completed in due course. In the short-term UDPC betting will be disabled and 10,000 UPDC available daily for mining provided by the Moolah stability fund. The stability fund will be maintained daily and the buyback will be restarted once the ability to purchase from an exchange is possible. The connection to the UpStake exchange will be disabled meaning UPDC at Moolah will stay there until replaced with Centric Rise.
If you hold Edge’s these can still be accessed through your UpStake login here. In the next few months, a dedicated website will be deployed for the Edge project.
As the team works around the clock to list Centric Cash on external exchanges, restrictions (send, receive, and convert) are in place to prevent slowing down or disrupting this process, you can learn more about the timeline here. if you wish to follow and track the teams progress.
Additionally, the price growth of the Centric Rise token will be temporarily suspended while the team officially launches the upgraded protocol. The announcement and official growth rates can be viewed here.
The team plans to list Centric Cash on exchanges around the world. This process is expensive and relies on a number of external partners. The team will only announce firm listings once the exchange has announced first. We won’t be speculating, hinting or discussing exchange listings until they are announced officially.
Expression of Interest
The team plans on raising additional funding to ensure the ongoing development and success of the project over the coming years. If you are interested in getting additional information please get in touch through the following link here.