UPcoin, is designed to only run for a short 6weeks. This short timeframe concept idea is designed that all IPO funds will be spent to purchase cloud mining equipment via HashNest (antminer s4/s5) to produce profits daily, which will be used to buy [XUP] straight off the order books, and then be burned. The coins will be burned daily from day 1 all the way till day 42, in addition to this burn, every week one antminer s4/s5 will be sold off, and the funds will be used to buy straight off the the sell order books. This idea is branched off the idea of a drastically decreasing supply over a very short period of time. After the 6 weeks, the coin will not be abandoned, we will collaborate with our team and the developers and pick a brand new/fresh approach to the success of the coin, and the rest of its lifespan.
based on rough calculations, the supply should reduce by 15% weekly. The way this has been devised is to obviously be greatly beneficial to early investors.
All burnt coins will be documented and posted in the thread and visible to all.