Find out the details of the Ubeswap project and the UBE token

• Overview of the Ubeswap . floor
• What is Uberwap?
• Features of Ubeswap
• Highlights of Ubeswap
• Security on Uberwap
• Ubeswap . development team
• Project development roadmap
• UBE token overview
• Details about UBE . token
• Allocation rate of UBE token
• UBE token sale opening schedule
• Purpose of using UBE token
• Instructions for storing UBE tokens
• Trade UBE tokens
• How to earn and own UBE tokens
• Conclude

Overview of the Ubeswap . floor

What is Uberwap?

Ubeswap is a protocol that applies the AMM mechanism to decentralized transactions (AMM is a tool to help create automated markets and is mainly used for DEXs) on the Celo mobile blockchain platform . 

In essence, Ubeswap allows users and applications to exchange any 2 tokens (ERC-20 standard) on Celo. It is the pioneering DeFi platform for mobile phones. In addition, Ubeswap also supports Ledger cold wallet and integrates the Celo Extension Wallet extension on Chrome browser for website users.                                                                                                                                        

Ubeswap's goal is to increase liquidity on Celo. From there, aim for a world where anyone can trade assets from their mobile phone or browser. Ubeswap seeks to bring liquidity from the DeFi market by leveraging Celo's fast transaction times, large block sizes, and stablecoin system.

The development team built Ubeswap from the elements that make up Uniswap, Sushiswap, Synthetix and Compound. This is to ensure that the Ubeswap ecosystem can support most of the tools and projects on the Ethereum ecosystem.

Features of Ubeswap

Here are the features of Uberwap: 

Swap tokens 

Ubeswap allows token swaps to take place quickly and conveniently on mobile platforms. Buyers or sellers do not need to wait long for order execution, swap transactions will be processed instantly thanks to an automated liquidity process.

Provide liquidity

Pool is a system method that provides liquidity or the ability to trade between two different tokens on Ubeswap. This system allows users to access the price of 2 tokens while still earning transaction fees on their tokens. 

When staking tokens in the pool, investors will receive 1 token called LP token (Liquidity Provider token). These LP tokens are extremely useful as they can be used to provide collateral, to earn rewards on the Yield Farming platform, and for many other uses.

Yield Farming

Ubeswap provides more than 30 liquidity pools for investors to easily choose and exploit maximum profits from.

Highlights of Ubeswap

With other AMM systems, the web platform is prioritized to build first, even many projects have not yet implemented the mobile version of the application. With Celo, they chose to create the mobile app first. However, prioritizing building on mobile does not mean developing only on mobile. Ubeswap also incorporates Celo's Chrome extension (support for web users) and direct support for Ledger cold wallets.

Here are the advantages of Uberwap:

• Ubeswap is a DEX protocol incorporating AMM that is leading the Celo ecosystem. Besides, UBE token can be considered as Celo's strategic card to attract cash flow into this ecosystem. The reason is because, this is the first native DEX coin of the Celo blockchain. This relationship is similar to Raydium and blockchain Solana
• Ubeswap works on both mobile and desktop platforms
• Ubeswap's protocol design is based on Uniswap's core contract. DeFi applications that are also built on Uniswap can be easily integrated with Ubeswap
• Ubeswap provides features like staking and farming with high APY. At the time of writing, the percentage ranges from 100 to 500%
• Celo is a new blockchain that currently ranks in the top 100 on Marketcap. This shows that Celo in general as well as Ubeswap in particular has potential for future development.

Security on Uberwap

Ubeswap puts security first. The project team uses secure, reliable security protocols and is audited by Bramah.systems. Protocol largely reuses code from Synthetix, Uniswap, Sushiswap and Compound. All smart contract tokens are publicly verifiable via Sourcify.

Ubeswap smart contracts are moderated by Bramah.systems, which has audited several reputable protocols on Ethereum including dYdX, Set, and mStable:

• Core/Exchange: Bramah.systems
• Farming: Bramah.systems
• Governance: Bramah.systems
• Moola Router: Under audit

Ubeswap . development team

• Co-Founder – Ian Macalinao: He has experience as the Co-Founder of Saber – a cross-chain stablecoin exchange on Solana. Besides, he graduated in mathematics and computer science from the University of Texas.
• Business Lead – Evan Kereiakes: He used to contribute to the design and launch of stablecoins on Terra. He has more than 7 years of experience working at the Federal Reserve Bank of New York, having worked in the US Treasury Markets department and the National Economic Council of the White House.
• Technology Lead – Brian Li: Besides the Ubeswap project, Brian is also currently involved in building many DeFi projects in the Celo ecosystem such as PoofCash, Nomspace, Romulus, RCelo.

Project development roadmap

In the near future, Ubeswap is planning to launch the following notable products:

• Timelock portal: Helps users have an overview of admin-related actions
• On-chain governance: Allows UBE token holders to propose changes to the protocol

UBE token overview

Details about UBE . token

• Token Name: Ubeswap
• Abbreviation code: UBE
• Blockchain: Celo
• Token Standard: Updating
• Contract: 0x00be915b9dcf56a3cbe739d9b9c202ca692409ec
• Token type: Utilities, administration
• Total amount: 100,000,000 UBE
• Total Circulation: 11,003,258 UBE

Allocation rate of UBE token

• Mining Reserve: 34%
• Partners & Ecosystem: 30%
• Development team & advisors: 13%
• Early backers & strategic investors: 12.7%
• Celo System Reserve: 8%
• Liquidity: 2.3%

UBE token sale opening schedule

There will be a small amount of tokens (100,000 UBE tokens) farmed in UBE-mcEUR and UBE-mcUSD at 0.1 USD per UBE token

Here is the unlocking schedule of the UBE token:

Purpose of using UBE token

UBE tokens will be used to:

• Administration
• Staking receives transaction fees.

Instructions for storing UBE tokens

The UBE token is a token of Celo (of the Ethereum platform), created from the Ubeswap exchange. To store UBE tokens, users can use wallets with support for Celo and Ethereum such as:

• Mobile wallet: Valora
• Computer wallet:
  • Ledger (recommended when storing over $1,000)
  • MetaMask
  • Celo Extension Wallet

Trade UBE tokens

Currently UBE tokens can only be traded on the Ubeswap exchange itself.

How to earn and own UBE tokens

There are 2 ways to earn UBE tokens:

• Method 1: Users can earn UBE tokens through providing liquidity on Ubeswap
• Option 2: Investors can buy UBE tokens by protocol swap directly from 1 token to UBE on Ubeswap.

Conclude

Celo is a fledgling ecosystem. Therefore, it is inevitable that it still has many holes in the development process. However, this is still a potential project with an experienced development team and support from large investment funds.

Besides, the project team also showed their determination by spending more than 100 million USD on developing DeFi on Celo. Their purpose is to attract investors, and at the same time create a certain position for the project in the market. As the first mobile AMM system, Ubeswap will continue to attract large cash flows in the future. This can be a good time for investors to take advantage of the high APR and farm for profit, as well as anticipate future trends.

Hopefully with the rapid growth of Ubeswap on Celo, we will see more integrations between Ubeswap's unique token swap system and new DeFi products in the near future.

For more details about the project, please visit the communication channels below:

Website | Medium | Twitter | Discord | Telegram

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