[Notice] Advance notice of UPVU 2.0 release and major changes
Ahead of the 2nd anniversary of the launch, UPVU 2.0 will be released with some features added and the frontend (website) completely renewed.
Launched in June 2022, UPVU has grown steadily to become the most loved Steem DeFi protocol by over 1,000 users for two years, becoming a flagship platform with a TVL valued at $11.15M.
As the number of users in the domestic as well as overseas community is steadily increasing, UI improvement, new FAQ, and function addition are necessary. Prior to the release of UPVU 2.0, we would like to inform you of some changes.
- Official Website : https://upvu.org/
UPVU is a Steem blockchain-based representative yield aggregator that allows users to delegate their SP to UPVU and receive voting support with higher efficiency.
In UPVU 2.0, the following items will be renewed.
(UI and front-end renewal) UI and front-end improvement work is in progress to improve the user experience. (Aim to open in April)
(FAQs for new users) You can use UPVU more easily and conveniently by opening Frequently Asked Questions section for new onboarding Steemians.
(Add a fee) Some fees are added to STEEM curation rewards, which is paid as a daily reward for UPVU's sustainable service operation
(UPVU Boost) UPVU Boost, which boosts the APR of existing users by sharing a portion of the fee with users, is released.
(Governance Reward Integration) You can set a proxy through Upview, and the account that has set the proxy will be automatically integrated into the Witness Reward Sharing Program at @upvu.witness.
The team has been running UPVU with the goal of maximizing the returns for users.
We want to add a fee for sustainable service operation, but the principle that always puts the user first does not change, and we want to provide users with choices. With UPVU Boost, you have the option to use UPVU without changing fees.
If you decide to turn ON the UPVU Boost function, you can receive the same STEEM rewards as before by returning the fee through the boost.
If you turn on the UPVU Boost function, a proxy that delegates the governance voting authority to @upvu.proxy is automatically set.
This function is a basic work for the expansion of active developer-centered witnesses and seed nodes (full nodes) to improve the security and stability of the Steem blockchain.
As many SPs are not yet actively participating in the governance voting, the governance power is fragmented and needs to be utilized more effectively.
- When the UPVU Boost function is turned OFF, the existing STEEM reward is reduced by 50%. (There is no change in the VP supported by @upvu once a day)
Before the UPVU 2.0 website reorganization, the UPVU Boost function will be added first. (Scheduled to start on April 1, 2022) So, please make your decision in advance.
UPVU Boost will be announced as soon as it is updated.
Governance Reward Integration
- UPVU user: Set UPVU Boost to ON
- UPVU non-users (direct vote): Vote for @upvu.witness
- UPVU non-user (proxy): Set the @upvu.proxy account as a proxy
In the case of any of the above, all are automatically integrated into UPVU's Witness Reward Sharing Program and rewarded.
How to Proxy(using Keychain)
- It doesn't matter which way you do it.
1. Open keychain and go to "Witness Menu"
2. Click "Add" Button
3. Input "upvu.proxy" and select "Chose Proxy"
4. Click "Submit"