Ama Recap: Gem Chasers & Upfiring

Below is a full-recap of the AMA, for the gem chasers who couldn’t make it, or for anyone that’s interested. Feel free to have a read!

Telegram: https://t.me/GemChasers

Twitter: https://twitter.com/GemChaserz

Gem Radar ✪:

Hello Gem Chasers and welcome to our second AMA for the day. Today we have with us Upfiring. Welcome @tylerfallon

Tyler Fallon:

Hey everyone, thanks for having me :)

Gem Radar ✪:

No problem Tyler 🙂 warm welcomes again. So could you please introduce yourself as an individual first? Such as how long have you been in the crypto space for. What is your background from etc?

Tyler Fallon:

I’ve been in crypto since 2012, first buying Bitcoin like many people, but as a software developer I didn’t really get sucked in until the launch of ETH in 2015, where I started to get really active/interested in coding on the blockchain. I developed Upfiring in 2016/launched in 2017, and have been involved in 10+ crypto projects of various sizes over the years.

My main profession is a software engineer but I do a good amount of digital marketing as well.

Gem Radar ✪:

Wow, okay so you definitely have a stacked history regarding Cryptocurrencies. Since you are a non-anon, do you have a linked-in?

Tyler Fallon:

Yes, you can add me here: https://www.linkedin.com/in/tylerfallon

Gem Radar ✪:

Perfect! Thanks for that 🙂 Ok so what is Upfiring? What are the main purposes of it? It’s been out for a while now right?

Tyler Fallon:

Upfiring is a fully decentralized,

P2P blockchain file-sharing desktop application for Windows, MacOS, and

Linux that encrypts and distributes files between peers using the Upfiring protocol.

The application allows users to generate custom encrypted Upfiring files with

embedded price data and seed them on the Upfiring network.

Users earn UFR tokens in exchange for seeding and keeping files online.

Tyler Fallon:

Upfiring is the only P2P file-sharing dapp in the space that rewards seeders (file-sharers) for sharing files. Think of it like BitTorrent/traditional torrenting, but you can earn UFR through our system of smart contracts through sharing files in the dapp. The dapp is out, it fully launched earlier this year and can be downloaded for Windows, MacOS, and Linux here: https://upfiring.com

Gem Radar ✪:

As you know DeFi has been a huge trend lately, has $UFR done anything to integrate with the DeFi space?

Tyler Fallon:

Yes, I’m really into DeFi as well and the dapp has several big DeFi integrations planned. The largest integration is that UFR will be soon turned into a governance token with a staking system that allows stakers to earn a percentage of all the transaction fees from the network from file unlocks.

In addition, our UFR Liquidity Yield Farming event is live now so if you buy UFR and add liquidity, you can farm UFR with 80%+ APY on Unicrypt: https://farm.unicrypt.network/farms?token=0xEA097A2b1dB00627B2Fa17460Ad260c016016977

Gem Radar ✪:

You mentioned you have been involve in other projects aswell, will we see any of it in the $UFR ecosystem? Will any other of your projects be connected to it..

Tyler Fallon:

Yes, I try to link my projects so that users benefit if any of them is successful. The biggest one to mention is LOTTO, it’s a DeFi lottery system where the token rebases once per day, removing 10 tokens from all users’ wallets automatically, and gives them all to one random user who participated in the lottery. It’s simple but very unique, and airdrop registrations (which are free) are open right now since it’s a brand new project. You can quickly register for the airdrop by reading the instructions here: https://www.lotto.finance

UFR Holders will benefit the most from the initial airdrop (earning 3x the number of tokens) and further benefits will continue to be shared between the 2 projects.

Gem Radar ✪:

Ok wow that seems interesting for sure!

So will you continue to build into the Upfiring ecosystem in the future aswell? Upfiring is the main network right?

Tyler Fallon:

Yes, Upfiring is the main network. We actually have a full rebrand planned for it which will involve switching the main crypto used in the dapp over to ETH, UFR staking and governance, and potentially some other interesting experimental features like staking-based subscriptions for file downloads.

Because the dapp will be open source, anyone can contribute, and development will be incentivized.

Gem Radar ✪:

This is really interesting. So good things are definitely coming for Upfiring, a full rebrand with ongoing developments in the near future. Is Upfiring a community driven project? What can the community do to contribute towards Upfiring?

Tyler Fallon:

It’s community-driven for sure. The market cap is still quite low so we have some holders with big stakes in the project who help guide its path. We have a UFR Community Marketing Group that active UFR members can join to help with marketing the dapp. In the future, it will be transitioning to entirely community-driven. Due to the nature of the dapp, I want it to be as decentralized as possible. So community members will be able to help via marketing, writing code, etc- and several other activities which will be established through proposals passed via Upfiring’s (future) community-run treasury

Gem Radar ✪:

Upfirings future seems bright. It’s refreshing to also see the developments are keeping up with the DeFi trend. Has the contract been audited externally? If so can you please provide the company or verification link?

Tyler Fallon:

No, the contracts were developed by devs who work as smart contract auditors as well so we didn’t need to get them audited. They’ve been live for several years now with no issues! In the future when we implement more advanced features like staking (where the contracts will hold more value), we’ll likely get them audited just for an extra set of eyes. Right now they only store UFR tokens, no ETH, so it’s not like traditional DeFi projects that act like full-on banks.

Gem Radar ✪:

I see, well it is good to see your team is open to getting externally audited when you start doing more complex updates 🙂

Ok so we have some community questions that we’ve preselected for you to answer. Let me know when you are ready!

Tyler Fallon:

I’m ready 👍

Gem Radar ✪:

@Greatfulblockchainn asks, which types of Industries & userbase your project is mainly focusing on? Do you plan to establish partnerships with local cryptocurrency developers in each country to make the use of the token more global?

Tyler Fallon:

We’re focusing on content creators right now. In a traditional P2P file-sharing/torrenting network, artists typically want to avoid having their music/content listed there. With Upfiring, artists and content creators have a way of earning and receiving payments directly from users, with no 3rd-party intermediaries. We want to partner with more content creators in the future once UFR transitions to the ETH-based model. And yes, once we open up the source code for the new version of the dapp, we want to bring in a variety of developers/contributors from different countries

We want to have the Upfiring dapp available in at least 5 major languages within the next year, with way more to follow.

Gem Radar ✪:

@rko247az asks, If upfiring is registered in Estonia, do the project team list baltic states in some kind of priority in any ways? Will the marketing be different in baltic states?

Tyler Fallon:

We seek to tailor marketing to various regions when necessary but there is no priority given to any particular region at the moment. Estonia is really crypto-friendly and I’ve had an amazing experience incorporating Upfiring there so far.

Gem Radar ✪:

Penghasil Uang asks, Do the token holders have the right to participate in the governance of upfiring project? What kind of decisions can they vote on about the project?

Tyler Fallon:

We’re transitioning to a governance model right now. The entire project will be run by token holders in this way, and they can pass proposals on anything, as long as they receive a majority vote. The UFR treasury, which will be controlled by token holders, will have the ability to incentivize various aspects of the project to ensure its continued development, marketing, and overall success over the next 30 years.

Gem Radar ✪:

@bpetridiss asks, Your Q3 roadmap packed UpFiring Dex, UFR Staking and Wallet Expansion, what benefit will it bring to the project?

Tyler Fallon:

Staking will allow token holders to earn ETH passively by staking UFR in the dapp and also participate in governance. The wallet expansion will integrate Metamask, Ledger Nano X/S, as well as more ways to load wallets/existing crypto into the dapp. And the UFR Dex has been replaced with Uniswap, Uniswap has been working so well that we’ve decided to focus on that for now. If you want to view UFR’s statistics on Uniswap, you can see it here: https://info.uniswap.org/token/0xea097a2b1db00627b2fa17460ad260c016016977

Gem Radar ✪:

@Rennattaa asks, Moving onto security, which is obviously paramount in the space, what can you say your team have done to ensure funds are safu?

Tyler Fallon:

We’ve designed the dapp in a way that ensures users are in control over their own funds. Users can keep their funds in their own ETH wallets and only need to use the UFR smart contracts when downloading/decrypting UFR files. The contracts themselves have been reviewed countless times by developers who have worked as smart contract auditors.

Gem Radar ✪:

Ok Tyler, this concludes our AMA today. Thank you for spending your time to explain everything and provide us with critical updates for the Upfiring ecosystem. We hope to see these developments happen soon 🙂 On behalf of @gemchasers we thank you again for putting some time aside for us. Take care!