Abstract

UpDawg is a decentralized, TRC20 Proof-of-Reserve (TRC20-PoR) token on the TRON blockchain, designed to provide transparency, stability, and community-driven growth. The token operates on a flexi-supply model, where the minting and burning of UDAWG tokens are governed by user transactions on dawgDEX (UpDawg’s built-in decentralized exchange). This blackpaper outlines the key features, mechanisms, and purpose of UpDawg, aiming to create a secure and engaging ecosystem for users by rewarding participation, promoting long-term holding, and ensuring full transparency via the Proof-of-Reserve mechanism.

Introduction

UpDawg was launched on October 1, 2022, on the TRON blockchain. It operates using a TRC20 token standard and leverages TRON's speed and low transaction fees to deliver a user-friendly, community-driven DeFi experience. UpDawg features an innovative Proof-of-Reserve mechanism that guarantees that every UDAWG token is backed by TRX in reserve, ensuring stability and trust. UpDawg also includes a built-in DEX, dawgDEX, to facilitate decentralized trading of UDAWG against TRX.

Token Overview

• Name: UpDawg

• Symbol: $UDAWG

• Standard: TRC-20

• Blockchain: TRON Network

• UpDawg Contract on Tronscan: TFLBD1LgA9aqeJqiiUnHAd9q3CUpqvop3k

Key Features

Proof-of-Reserve

Every UDAWG token is backed by a corresponding amount of TRX held in the contract's reserve. This ensures that the total supply of UDAWG is always tied to the reserve, creating stability and trust among token holders.

dawgDEX

Users can trade UDAWG tokens directly on dawgDEX, with transaction fees that support project development, token burns, and community rewards.

Minting and Burning

New UDAWG tokens are minted when users buy UDAWG with TRX via dawgDEX. Tokens are burned when users sell UDAWG for TRX, reducing the overall supply.

HODLPool

A percentage of transaction fees are allocated to the HODLPool. UDAWG holders who refrain from selling their tokens can claim rewards directly from the pool, incentivizing long-term holding.

Proof-of-Reserve Mechanism

UpDawg’s Proof-of-Reserve mechanism is at the core of the project’s value proposition. For every UDAWG token in circulation, there is an equivalent amount of TRX in reserve, ensuring that the token is always backed by a tangible asset. This relationship between the UDAWG supply and the TRX reserve determines the price of UDAWG at any given time.

Price of UDAWG = Total TRX in Reserve ÷ Total UDAWG Supply

Launchpad

On October 1, 2022, UpDawg's launchpad began. During the month-long launchpad phase, users were able to claim free UDAWG tokens via the airDropClaim method. Each claim minted 21 million UDAWG tokens to the caller’s wallet. No buy or sell transactions were available during this period, and as more tokens were minted, the price of UDAWG against TRX decreased. At the conclusion of the launchpad on October 31, 2022, the total supply of UDAWG reached 12 trillion tokens, and the price at launch was set to: 1 TRX = 12,026,342,191,750,000 UDAWG. Following this, dawgDEX was opened for trading, allowing users to buy and sell UDAWG freely.

dawgDEX - Decentralized Exchange

The dawgDEX enables users to buy and sell UDAWG tokens using TRX. The exchange operates with a fee schedule that dynamically adjusts based on the amount of TRX held in reserve:

Fee schedule

Exchange TAX Distribution

UpDawg employs a three-part tax system that funds project development, incentivizes holders, and supports price stability through burns.

Fee Distribution:

Tokenomics

Supply: UDAWG operates on a flexi-supply model, where tokens are minted when bought with TRX and burned when sold, ensuring that supply is dynamically controlled.

Fees: Transaction fees are applied on both buy and sell transactions, with higher fees for selling to incentivize holding.

Fee Distribution:

HODLPool

HODLPool is a feature in UpDawg that allows UDAWG token holders to earn a share of the exchange transaction tax collected by the UpDawg protocol. To claim their share of HODLPool, UDAWG holders do not have to stake their tokens, but instead, they have to call the Claim Reward function on the UpDawg smart contract. The formula for the Claim Reward function is "Reward" + "Bonus", where "Reward" is determined by the formula - [(Current Time - Time of Last Claim) ÷ 24 hours] × (HODLer's balance of UDAWG before the Claim Reward is called ÷ Total Supply of UDAWG before the Claim Reward is called) × (Current HODLPool)], and The "Bonus" is 0.01% of "Reward", which are newly minted tokens issued to the caller of the Claim Reward function.

Timepot

UpDawg's smart contract has a unique feature called Timepot, which callculates HODLers claim rewards whenever their balance is updated, including transactions such as Buy, Sell, Burn, and Transfer. This innovative feature ensures that HODLers are always incentivized and rewarded for holding their tokens.

Transparency

The UpDawg smart contract is fully auditable on the TRON blockchain, providing transparency to all users. The Proof-of-Reserve mechanism ensures that UDAWG tokens are always backed by TRX, mitigating the risk of manipulation or devaluation.

Conclusion

UpDawg is is not a standard TRC20 token. It is a decentralized, transparent, and community-driven TRC20 token with a flexible supply backed by TRX reserves. The token's Proof of Reserve, dynamic fee structure, burning mechanism, and HODLPool rewards system create a sustainable and rewarding ecosystem for TRON users.