Final wUPX Liquidity Rewards & Bridge Shutting Down

uPlexa
2 min readOct 4, 2021

Today we have launched a new thirty day wUPX liquidity mining period. All taxes collected via transactions to the upxReaper contract are being used for this thirty day period. You may have noticed that this is a shorter period than our typical ninety day periods: Unfortunately, we have made the decision to shut down the uPlexa Bridge (to/from wUPX/bUPX) on November 30th, 2021.

This may sound disconcerting to some, however, is ultimately a
choice that required quite a lot of thought as well as the legal recommendations from our legal partners that we have discussed with regards to new upcoming regulatory policies around DeFi.

Once Plexanet is live, we we do hope to fund a completely decentralized version of the bridge that does not require any custodial wallets (given that we would require a fund to do so with). This would require a custom protocol built onto uPlexa (or more specifically, uPlexa’s Utility Nodes) that would introduce atomic swaps between chains.

It is our recommendation that those who currently have their assets in wUPX or bUPX swap to the UPX native coin via the uPlexa bridge prior to the bridge close date of November 30th, 2021.

The bridge to/from bUPX and wUPX will be closing on November 30th, 2021.

UPX to wUPX/bUPX swaps will be halted on October 19th, 2021.

wUPX/bUPX to UPX swaps will be halted on November 30th, 2021.

Final wUPX Liquidity Mining Reward Period:

Start height: 13,354,929

End height: 13,549,929

Rewards per block: 0.26 wUPX

Currently, rather than focusing in multiple different areas at once,
we are buckled down and only focused on finishing Plexanet (our dVPN/mixnet).

Happy Liquidity Mining, and thanks for your understanding.

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uPlexa

uPlexa: Incentivizing the mass compute power of IoT devices to form a means of anonymous blockchain payments.