1UP News: Fundition Campaign, New Platform Account And UP Token Dis...

Introduction

1UP is a hivemind curation system for communities where all votes are equal. It funnels upvotes to the highest voted posts and optimizes trailing of community supporters for higher curation rewards. The platform will use its own Smart Media Token (SMT) and distribute that to a large degree via airdrops and bounties to the Steem community.

This is the first post of the new @Utopian-io blog series after creating the new platform account @steem-1up. All previous links of the series by @flauwy can be found on the bottom of this post but will not be added to future posts anymore as 1UP has transformed into a pretty different project than previously anticipated.

Repository

https://github.com/therealFlauwy/1UP

Post Body

New 1UP Account: @steem-1up

Welcome to @steem-1up, which will become the platform account for the new 1UP system. All official posts about 1UP will be done on this account in the future. The old @utopian-1up account is now officially retired. We still have one of the biggest curation trails on Steemauto with the old account (over 500 trailers) but will not make any more upvotes with it. Utopian will be one of our starting communities so we will continue the root idea of 1UP but open up to the rest of Steem as well.

Fundition Campaign Started

Developing 1UP in a heavy bear market like now is really difficult. We have been already investing 4000 Steem but the costs are higher than that which is why we started the 1UP-Fundition fundraiser. Fundition is like Kickstarter but build upon Steem and works exclusively with crypto donations.

The campaign aims to get $3000 for finishing the 1UP development until the Beta release in October. To reward our donators we will offer 6 million UP tokens out of the 280 million total supply (see below for more details about the distribution). This is our first goal. The second goal is another $3000 for continous development after the initial release. As 1UP is not a commercial project but building a decentralized community, we need the support of you, the community. The 6m UP tokens will be split among all backers on Fundition.

If you are interested in becoming a backer please go to our Fundition campaign page and make a donation via Steem or other cryptos.

Our top (and only) backers at the moment are:

@eftnow, @zekepickleman, @hungryhustle, @indigoocean and @elevator09. Thank you so much for your support and welcome to the 1UP family.

UP Token Distribution

1UP will release its own UP token based on Steem's Smart Media Tokens, coming out in March 2019. We will create a total supply of 280 million tokens, which reflects the current Steem supply. The token distribution will happen mostly via generous airdrops and bounties to the community.

Here is our donut chart for the UP distribution:

Airdrop Via User Authority

65 million UP tokens will be airdropped to active Steemians. Instead of doing an airdrop based on the Steem Power holdings, we will use the new User Authority (UA) from @steem-ua. This is an alternative reputation system that will allow us to give much higher airdrops to the average active Steemian. This will allow us to create a much fairer distribution as UP is a community token and we need users to be excited about it.

The airdrop will take place before March 2019 but we have no concrete date for it yet. The entire process will take place via the 1UP wallet on our upcoming platform.

User Bounty Program

65 million UP tokens will be distributed via a bounty program that starts with the release of the Beta app in October 2018. These bounties will be paid for activities on 1UP itself, like delegating Steem Power, upvoting posts via 1UP and receiving upvotes from 1UP.

Further, we will offer bounties for promotion posts, graphics and videos shared via the Steem blockchain.

Community Bounty Program

To give communities directly the chance to grow some handsome stakes and increase the combined efforts of community members, we will distribute another 65 million UP tokens to all participating communities on the 1UP platform. The bounties will be based on the received 1UPs for each community, which also be our basis for the planned community levels.

The tokens will most likely be distributed to the community accounts, if they exist. For communties, merely based on a tag without special community structures behind them, we might create community accounts ourselves and hand them over to the establishing community leaders on the 1UP Discord channel at the end of the Beta phase. When the hivemind protocol from Steemit is published before that, we will likely base our community accounts on that.

1UP Team, 1UP Account and Investor Pool

The 1UP team is currently only made out of a few people but we are quickly growing. Users who support the 1UP efforts internally to bring this project forward will be rewarded out of the 15 million UP token pool.

The @steem-1UP account will get 40 million UP tokens to be functional and dominating the upvoting mechanism of the UP reward pool. The account will never power down the initial amount but will power down extra earnings coming in via curation rewards to create liquid funds for ongoing development and other costs.

Finally, a pool of 30 million UP tokens is reserved for private investors. Out of this pool also come the 6 million UP tokens for the Fundition campaign backers. Any money that is generated with that will go to 100% into the 1UP development and server costs.

1UP Is Looking For You

We are currently looking for more supporters for all sorts of things like Discord moderators, supporting developers for minor tasks and influencers who can more their peers over to 1UP. Joining our efforts will make you eligible for a cut of the 1UP Team pool. Please contact @flauwy or @stoodkev on Discord or directly join the 1UP Discord channel.

Resources

Old Utopian-1UP Homepage (includes a test for the new community creation tool)

1UP News: Fundition Campaign, New Platform Account And UP Token Distribution Explained