Utility

Fees

When engaging in transactions on UPYY, both users and protocol owners are required to pay a nominal network fee. This network fee is distributed towards block generation rewards, the Fee Pool, and, when applicable, referral fees within referral programs. This allocation aims to support the upkeep of the UPYY network and contribute to the overall expansion of the ecosystem.

Governance

UPY holders can indirectly engage in the selection of Witnesses through their UPY holdings. Witnesses play a role in approving UPYY-related issues to be addressed and deciding on the implementation of solutions. For more comprehensive information, please refer to the Governance section.