In this article we will provide our community more detailed information on the function of the UOS token and how these tokens are being used within specific use cases of the Ultra ecosystem.
UOS is the token that empowers the whole Ultra ecosystem enabling efficient and transparent value transfer between stakeholders: developers, influencers and players. All purchases of games, virtual items and services within the ecosystem require the use of UOS tokens. This includes features such as loyalty programs, advertisements, trading of digital goods and so on. All transactions are completed on the blockchain with our tokens which will cause a constant demand for Ultra token as the ecosystem grows.
We will also accept traditional forms of payment such as Paypal and credit cards. Fiat currencies entering the system are converted to UOS on the backend. We do this by purchasing UOS on exchanges and then send it to a smart contract to complete the intended transaction for the user.
This fiat-to-UOS conversion process is fully integrated in Ultra to provide a seamless user experience. All this is carried out with minimal friction and without the user noticing that blockchain technology is involved.
UOS is the central piece of our blockchain’s resource management mechanism. Staking UOS will get you an ultimate service quality regardless of the state of the blockchain.
The token can also be used across the platform for non-purchase related transactions including through our stacking program, betting applications, tournaments, tipping and many more.
Ultra is designed as a self-sustaining ecosystem, different actors are incentivised to use their tokens through different channels adapted to their particular needs. It’s being utilized as a medium of exchange to its full extent for each and every action that could benefit from blockchain technology within the Ultra platform.
No matter if it’s used by a developer, a player or an influencer, all actors utilize UOS tokens to interact within the ecosystem.
Below is an overview of some of our token mechanisms and how they interact within the ecosystem. As the product and ecosystem evolves, we expect additional use cases for UOS to emerge either through our own development or through 3rd party developers. We will encourage all use cases that increase the alignment between all actors, including our token holders.
Players, Game developers, third party developers and any actors of the Ultra blockchain, can stake UOS to get the highest priority for instant free transactions.
The staking of UOS will be an essential part of our ecosystem, and the originality of our resource management is that you can stake for other participants of the network or directly sponsor a smart contract, allowing anyone who interacts with this smart contract to have their transaction executed truly for free and with the highest priority.
We envision that actors within the Ultra ecosystem will incentivize users to stake for them by rewarding them with NFTs such as free games, exclusive content, items, tournament entries and so on. Our staking feature forms a perfect synergy with our engagement rewards, as users can constantly increase their token stake through engagement activities and by holding these tokens they’ll earn even bigger rewards.
By staking UOS to provide Ultra power to smart contracts, users are helping curate the blockchain by prioritizing smart contracts that matter. For this effort, users will be rewarded in UOS, minted by the protocol. The reward will be defined by the governance, depending on the network’s needs. Details about the staking program will be presented at a later date.
At Ultra we aim to create a beneficial ecosystem for players as well as developers. To ensure this, we provide players with diverse ways to easily and instantly earn UOS tokens. Everyone can earn tokens by engaging on the platform in various ways.
Players may also be able to earn UOS by helping developers to build better games through such opportunities as watching ads, participating in beta tests, answering surveys, and much more.
Players usually own powerful computers but don’t want to bother with the complexity of crypto mining, missing out on potential revenues.
On Ultra, players will be able to earn UOS by providing their computing power such as CPU and GPU and other resources, through an undisclosed partner’s solution.
Our “One click mining” solution can do traditional crypto mining, but can also provide resources for other computing needs such as AI or graphic rendering which are generally much more profitable. It will automatically select the most profitable computing demand for the user based on his hardware.
In all cases, the reward is used to purchase UOS on exchange and directly rewards the users on their wallet.
5% of Ultra’s profits will be reserved for 2 years to fund exclusive games that use our blockchain and NFTs capabilities. This reserve enables Ultra to continually build out the games portfolio which is valuable to all actors in the ecosystem.
Obviously, the locked tokens will come back into circulation at a later time, but when Ultra achieves constant traction on the platform with a healthy growth rate, then there will never be a stage of equilibrium for supply and demand.
Developers will be able to create NFTs in a very simple way using the “Ultra Developer Center” , our developer back-office tool. With our powerful SDK, these NFTs are ready to be easily integrated in their games.
Influencers and communities will also have the possibility to generate Ultra NFTs using specific tools and not only for game related content.
Since transactions are free on Ultra blockchain, developers will have to “fuse” UOS tokens within their NFTs to pay for the RAM cost associated with the creation of this blockchain asset.
Fusing UOS to an NFT is not only a solution to spam problems, it also guarantees that developers will generate more revenue in the second hand market. Developers are incentivized to create NFTs as they will receive a sales revenue share every time this item is resold in game or on item trading platforms.
At any time, the owner of this NFT can “break” the NFT to get its contained UOS tokens back.
We will provide additional information about our NFT technology in another article alongside its other UOS use cases.
Earn tokens on the Ultra platform or buy and sell games, services and digital items for UOS tokens and spend them in thousands of stores around the world through exclusive partnerships.
Recent development in the blockchain space such as DeFi showed us interesting new ways to use ERC20.
We believe that not forcing a full swap after the release of the mainnet, will help us (and our community) to integrate Ultra better in different ecosystems, which results in new use cases for our token such as the Uniswap liquidity program.
In the future, we are not excluding adding UOS to other chains, as we believe blockchain intercommunication will be an important topic in the years to come.
This type of strategy not only provides more opportunity to our token holders but also helps to evangelize Ultra on other chains. One could imagine communities or the company itself doing marketing activities on other chains with UOS as a reward to incentivize people to join Ultra ecosystem by swapping to the mainnet.
The Ultra ecosystem is designed in a way that developers are incentivized to keep a portion of their revenue within the ecosystem.
For example, developers will be able to spend UOS to improve their games and communities such as reinvesting their revenues into advertisement or forging unique and valuable virtual items for their players. Furthermore, all developers can directly decide how much of their revenue should be distributed to the publisher and to influencers who create additional sales of the game by advertising it for them.
The same concepts that apply to other actors in the ecosystem also apply to influencers. They have the opportunity to get rewarded from each sale of a game they promote, and they are incentivized not to cash out their entire compensation.
Instead, influencers have the ability to build their community and increase their reach by rewarding their followers. Some of these activities might include actions like buying a valuable item and organizing a giveaway, organizing a tournament with UOS as a reward, rewarding unique community activities, or staking their tokens for profit.
Token Flow Infographic
What we want to demonstrate in this example, is rather simple.
Starting from the player that bought a game from the smart contract (created by the game dev), it splits revenues among a multitude of actors (Game devs, Influencers, Ultra…), that will use UOS to perform different actions.
We estimate that for each dollar injected in our ecosystem at least 40cts will be retained in UOS
We could have made this token flow infographic a lot more complex since, for example, the NFT crafting opens a new entire token flow. Also advertisers buying ADs have a lot more complexity: Game developers but also brands and service providers can advertise their products in Ultra using our ADs platform.
Advertisers can get ADs credits by using their earned UOS tokens (through commission), purchasing UOS tokens either on exchanges or purchasing them directly from our Ad-platform, we estimate that their weight on Ultra ecosystem will be important, increasing the token demand heavily.
As we are designing and developing new concepts and smart contracts, that will make our token and ecosystem even more useful, simply by having new features that add value to our ecosystem and that serve well any type of actors from the gaming ecosystem, and beyond.
If you are interested to learn more about our ecosystem and what’s coming, join our community on Telegram: https://t.me/ultra_io or follow our Twitter: https://twitter.com/ultra_io