UQC is a utility token created on the basis of the Ethereum blockchain and fueling the Uquid platform licensed by the Estonian government. The asset was released to power the economy of the Uquid ecosystem. The facility offers cross-border business solutions and pursues the goal to create a smart shopping system running in the Web3 environment.
The platform positions itself as a pioneer in building bridges between DeFi and e-commerce. Its target audience mainly consists of cryptocurrency holders who want to make use of their crypto assets in the traditional consumer environment. The platform tries to create a metaverse that should connect merchants in different regions and remove geographical barriers for customers when shopping.
The Uquid platform offers favorable conditions for trading and enables exchanging cryptocurrencies hassle-free. A special service provided by the platform gives users the possibility to store UQC on plastic cards. It means that its customers can spend their digital assets in any country of the world where such cards are accepted. Thus, the token establishes the bridge between real-world financial infrastructure and the world of cryptocurrencies.
The platform utilizes the ‘customers first’ approach, therefore, all new features are introduced with this aspect in mind. At this, the team strives to create an “all-in-one solution” that would cover all possible needs of its users. The developers of the platform have upgraded the solution to Web 3.0 creating the decentralized finance payment system for digital eCommerce with 10 integrated cryptocurrencies. They have also added an NFT marketplace called NFTD to meet the demand of their customers.
In addition, the team standing behind the platform has been developing the DeFi infrastructure science 2022 to create more opportunities for investors and stakeholders. Thus, Uquid has created an e-commerce system, in which buyers can get loyalty points to be used as DSS tokens for their future purchases. Similar to the traditional shopping experience, shoppers earn tokens as they complete a purchase on the DeFi shopping platform. However, the system provides a few more perks that have become possible thanks to blockchain. The interest is credited to their wallets with transparent liquidity. Also, the system employs such features as shopping mining, shopping staking, and automated shopping staking so as to help customers get higher rewards and thus boost their buying behavior.
Besides, the platform has released an automated trading system working on smart contracts to support merchants and suppliers who can easily contact each other and find the required commodity. The system helps to reduce the costs of deals as it removes the expenses associated with intermediaries. The automated trading system also contributes to security, making transactions transparent and verifiable.
The ecosystem combines a number of various projects under its hood. Thus, the list includes Defito, a decentralized platform that establishes a bridge between Defi and ecommerce, OMGFIN, the exchange that supports the conversion of fiat to crypto and vice versa, and NFDT, a smart NFT supermarket system for digital products. The last option supports products on the BSC blockchain taking numerous traders on board. It increases and strengthens the ecosystem as it opens more opportunities for the members of the community.
As mentioned earlier, the platform issues debit cards that can be both physical and virtual. At the time of writing, the network supports around 90 digital assets, including the most popular ones such as Bitcoin, Ripple, Litecoin, Ethereum, etc. Also, Uquid Coin provides an e-wallet, payment processor, and mobile money solutions that operate in 178 countries. The fiat currencies supported by the platform include USD, EUR, and GBP. Holders of Uquid cards can get payments via PayPal, Gaming websites, etc. The fee for card issuance is 16.99 USD while the card itself also requires a fee of 1 USD per month. Holders of virtual cards have access to such features as card-to-card transfers, zero fee for POS transactions, 3-year validity, online verification, and instant card delivery. The holders of physical debit cards can get their cards fast for free and enjoy such features as card-to-card transfers, zero fees for POS transactions, and unlimited ATM withdrawals.
The Uquid Defi Payment service was launched in September 2020. The platform actively develops its own online shop devising diverse promotion actions for that. For instance, it is possible to get a 5BUSD cashback voucher if you use a Binance Pay payment method or 10% cashback at Uquid Digital Shop on Binance Marketplace. In October 2021, the facility announced its partnership with Binance. Since then, the integration of Uquid and Binance Pay resulted in a faster growth of the store that comes both in a digital and virtual format. At the time of writing, the number of available products has reached 60 million. In addition, the platform promotes a shop-to-earn experience. The strategy seems to be successful as, during 5 years of work, the shop has acquired a customer base of 500K users.
The Uquid Coin
It is possible to use the asset for governance, mining, and staking purposes. Besides, it is possible to use UQC as a store of value, that makes it a good investment tool, or use it just for payments. The platform implements new functionality that affects the price of the token. With its expansion, the value of the token increases.
Since it is an Ethereum-based token, it can be stored in any ERC20 wallet. The wallets that are compatible with the UQC token include Metamask, Ledger, Bitgo, MyCrypto, Trezor, and MyEtherWallet. The list of exchanges where the asset is listed embraces OMGFIN, Bittrex, Bitcratic, Indoex, Folgory, CoinSuper, Kucoin, Bibox, and many more.
The Uquid team
The company is proud of its multinational team that works hard to make the facility the leading platform on the cryptocurrency market. The core team of Uquid includes Trun Hung, CEO, with 6+ years of expertise in the area of blockchain, Dang Hung, CTO, who previously worked as a software developer for different financial institutions, Hristo Margov, CBO, who was a Lead Engineer Contractor at Jaguar Land Rover, and many others.