What is UpDawg?

UpDawg is a Decentralized Proof-of-Reserve TRC-20 token launched on October 1st, 2022. It is backed by TRX, one of the leading cryptocurrencies in the market, and operates on the TRON blockchain.

A small portion of each exchange transaction on dawgDEX is automatically destroyed or “burned”, reducing the total supply of UpDawg tokens over time and increasing the value of the remaining tokens. This mechanism helps to maintain the scarcity of the token and potentially increase its value compared to the TRX reserve.

UpDawg's proof of reserve mechanism provides transparency and security by allowing users to verify that each UpDawg token is backed by an equivalent amount of TRX. This helps to ensure that the token maintains its value and that users are protected against potential market risks.

With its proof of reserve mechanism and burn feature, UpDawg aims to provide DeFi users looking for secure and stable investment opportunities. The decentralized nature of UpDawg also offers greater transparency and security compared to traditional centralized finance solutions.

Proof of Reserve

UpDawg's Proof of Reserve mechanism is a key factor that sets it apart from other cryptocurrencies. It provides a level of transparency and security to UDAWG token holders that is often lacking in the cryptocurrency market.

In simple terms, the Proof of Reserve mechanism means that every UDAWG token is backed by a corresponding amount of TRX. This creates a direct relationship between the value of UDAWG and the value of TRX, which in turn, helps to stabilize the value of UDAWG. For example, if 1 UDAWG token is worth 100 TRX, then there must be 100 TRX held in reserve for every UDAWG token in circulation.

This mechanism helps to prevent price manipulation in several ways. Firstly, it restricts the total supply of UDAWG tokens, as the number of tokens that can be in circulation is limited by the amount of TRX held in reserve. This makes it difficult for any individual or group to manipulate the price of UDAWG by flooding the market with a large amount of tokens.

Secondly, the Proof of Reserve mechanism makes it easy for anyone to verify the authenticity of the reserve. All one has to do is check the amount of TRX held in reserve on the blockchain. This helps to build trust among token holders, as they can be sure that their tokens are backed by a tangible asset.

For layman, this can be explained as if you are holding a coin backed by gold, you know that the value of your coin is tied to the value of the gold. Similarly, if you hold UDAWG tokens, you know that the value of your tokens is tied to the value of TRX. This creates a sense of security and stability, as the value of your investment is not solely dependent on market speculation.

For TRON Community, this means that they have an opportunity to invest in a cryptocurrency that is backed by TRX, a well-established cryptocurrency with a strong following. This makes UDAWG a low-risk investment opportunity, as the value of UDAWG is tied to the value of TRX, a cryptocurrency that has been around for several years.

For UDAWG HODLers, this means that they have a unique opportunity to invest in a cryptocurrency that is both stable and secure. With the Proof of Reserve mechanism, UDAWG HODLers can be confident that their investment is backed by a tangible asset, and that the value of their investment is not solely dependent on market speculation.

So, if you are a layman, TRON Community member, or a UDAWG HODLer, you can BUY UDAWG Token from dawgDEX at [udawg.org/dex](http://udawg.org/dex) with confidence, knowing that your investment is backed by a secure and stable mechanism.

Burn

The Burning mechanism of UpDawg is an important aspect of the token's design and helps to maintain its value over time. The mechanism works by automatically burning a small portion of each exchange transaction on dawgDEX, reducing the total supply of UpDawg tokens.

The Burning mechanism of UpDawg is designed to work in tandem with its proof of reserve mechanism. The proof of reserve mechanism ensures that each UpDawg token is backed by an equivalent amount of TRX. The Burning mechanism helps to maintain the value of UDAWG tokens over time by reducing its Total supply compared to it's TRX reserve and potentially increasing the exchange rate.

The Burning mechanism of UpDawg is an important feature that differentiates it from other tokens and provides a secure store of value for its users. By reducing the total supply of the token, the Burning mechanism helps to maintain its scarcity and value over time.

HODLPool

HODLPool is a mechanism in UpDawg that allows UDAWG token holders to earn a share of the exchange transaction tax collected by the UpDawg protocol. HODLPool receives 20% of the exchange tax, which is then used to incentivize UDAWG token holders to hold their tokens for longer periods. The longer a UDAWG holder holds their tokens, the more of the HODLPool they are entitled to claim. This encourages UDAWG holders to HODL their tokens instead of selling them, which helps to stabilize the price of UDAWG.

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 following 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)

In this formula, the "Current Time" is the current block timestamp, and the "Time of Last Claim" is the timestamp of the last successful claim by the UDAWG holder. The "HODLer's balance of UDAWG" is the balance of UDAWG held by the caller of the Claim Reward function, and the "Total Supply of UDAWG" is the total supply of UDAWG at the time the Claim Reward function is called.

The "Current HODLPool" is the total amount of HODLPool at the time the Claim Reward function is called. The "Bonus" is 0.01% of "Reward", which are newly minted tokens issued to the caller of the Claim Reward function. This "Bonus" helps maintain stability between UpDawg Total Supply and UpDawg TRX Reserve.

In the case where the reward calculated by the Claim Reward function exceeds the available HODLPool, only the Bonus portion of the reward will be distributed to the caller. This is because the total available HODLPool is distributed among all eligible UDAWG holders, and if the reward exceeds the available HODLPool, it would not be fair to give more to some holders over others.

Launchpad

A launchpad is a platform or mechanism that is used to introduce and launch a new cryptocurrency into the market. The purpose of the launchpad is to set the initial price of the token and create demand for the token.

In the case of UDAWG, the launchpad was designed to be unique as there was no Initial Coin Offering (ICO) for the token. The aim of the launchpad was to set the initial price of UDAWG token against 1 TRX.

The launchpad was available for a limited time, starting at the deoployment of UpDawg smart contract on October 1, 2022, and concluding on October 31, 2022, at 6:30:00 PM (UTC). During this period, every Tron address was able to claim 21 million UDAWG Tokens per claim through a special function called "airDropClaim." This function was available to all and could be called as many times as the caller wanted, with each call providing the caller's TRON address 21 million UDAWG Tokens for free. No TRX was required in exchange for these tokens.

Transparency

The UpDAWG Smart Contract provides a secure, decentralized and trustless process for managing UDAWG tokens and the TRX reserve. The contract owner cannot interfere with the contract's specifications, ensuring the security and stability of the system.

The internal reserves in the UpDAWG Smart Contract are viewable to ensure that the value of the tokens is backed by the expected amount of collateral. To verify the reserves, users can visit the UpDAWG website or use a TRON blockchain explorer. As a TRC20 smart contract, all of the reserves are stored on the blockchain, providing full transparency.

To provide additional security and protection against scams, the UpDAWG Smart Contract will undergo verification to ensure its reliability and integrity. Trust in the UpDAWG Smart Contract for a decentralized, secure and transparent solution for managing UDAWG tokens and the TRX reserve.