[ANN][UFR][ICO] Upfiring | Incentivized P2P File-Sharing

[CoinFarmer]

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CONTRIBUTION PERIOD v1.0.

Start Time: October 3rd, 2017 at 12:00 PM EST
End Time: October 31st, 2017 at 11:59 AM EST
Updated: Amount Raised: ~844 ETH
Cryptocurrencies Accepted: ETH, BTC, LTC



TOKEN DISTRIBUTION

To ensure the fair distribution of UFR tokens, we have no pre-sale or special bonuses. The Contribution Period is the only way to acquire UFR and the rate is standardized. UFR tokens are minted when ETH is sent to the contract. We do not use whitelisted addresses or participate in any 3rd-party allocations.




*This has been updated and scaled down to a maximum supply of 24,000,000 UFR. Full update here: https://www.reddit.com/r/Upfiring/comments/7ck86w/ufr_token_burn_event_on_november_19th_updated/

24,000,000 UFR was generated in the contribution period. A small number of tokens are reserved for in-app use, the team, and a potential 2nd contribution period only in the event that additional funding is needed for the continuation of the project. This would only take place in the distant future after key roadmap events have been completed and well into the main application launch - otherwise, those tokens will be burned.**

**Token distribution and reserve supply has also been scaled down with the burn event, and a 2nd contribution period has been ruled out. The project has the required funding to proceed.





How will Upfiring work?

Upfiring is a P2P file-sharing application that encrypts and distributes files between peers over a decentralized network. Upfiring operates similarly to services like uTorrent but with several key upgrades and inherent advantages. All transactions are linked to the Ethereum blockchain - allowing transactions to run securely and for proof-of-transfer protocols to be carried out between peers. The movement of files across the network requires Upfire tokens (UFR). When a user downloads a file from a seeder, the user pays for the transaction with UFR - which covers the cost of gas and compensates the seeder for offering the file to the network. This allows users to earn passive income by seeding files and allows users download large quantities of files at an extremely low cost. Upfiring supports the exchange of many different file types on the network, including .torrent and magnet files.





How will Upfiring ensure seeders are compensated?
Files seeded on the Upfiring network will be encrypted so that other P2P services cannot access them without using the Upfiring Desktop application. Smart contracts written in Solidity govern the process and ensure the successful transfer of tokens and files in each transaction. This allows anyone to earn tokens passively and trustlessly by simply seeding files in the Upfiring Desktop or mobile client.

[Doublelucky]

Good luck to the team, this is a pretty cool idea  

Edit: Images aren't showing up btw, just a heads up.

[ogrudko]

Good day, Team!
Will you provide some bounty campaign for you ICO?

[CoinFarmer]

Good day, Team!
Will you provide some bounty campaign for you ICO?

We will not be doing a bounty campaign, the only way to acquire UFR is through the crowdsale at the moment. After the crowdsale there will likely be a few small bounty campaigns/offers.

[jezus]

Where open exchange when ico close?

[zakalwe]

Just quoting original post so the pictures are visible. Seems like a good project, I like the fair distribution with no special bonuses.

[CoinFarmer]

Jezus: Absolutely, we are currently working on applications to Bittrex, Liqui, Binance, Etherdelta, 0x, and a few others.

And thank you Zakalwe for that - it seems like pictures are showing up on the original post now as well.

[BLACKCOIN883]

I love this part:

> no pre-sale or special bonuses

Who else agrees with me that ICOs and cryptocurrency have gone mad lately with their bonuses? They make later investors feel left out.

[Doublelucky]

I love this part:

> no pre-sale or special bonuses

Who else agrees with me that ICOs and cryptocurrency have gone mad lately with their bonuses? They make later investors feel left out.

I never invest in ICO's that do this and think it is a shitty pyramid-scheme tactic to try and get people to invest. Yet almost every new ICO seems to do this shit now.

Good on your guys for keeping it real, the ICO structure looks straightforward and pretty fair here.

[BLACKCOIN883]

I love this part:

> no pre-sale or special bonuses

Who else agrees with me that ICOs and cryptocurrency have gone mad lately with their bonuses? They make later investors feel left out.

I never invest in ICO's that do this and think it is a shitty pyramid-scheme tactic to try and get people to invest. Yet almost every new ICO seems to do this shit now.

Good on your guys for keeping it real, the ICO structure looks straightforward and pretty fair here.

ICOs that do that are trying to create fear of missing out. That's what a lot of scammers do, they try to get you to take a decision as fast as possible.

[GoBelle]

Is Ethereum SWARM the main competitor of this project? How is development on that going?

[freemind1]

It would be possible to obtain more information?. Team members, escrow, advisors... The project seems interesting guys, I will be attentive to the waiting for more information.

[CoinFarmer]

Is Ethereum SWARM the main competitor of this project? How is development on that going?

The main competitors are projects like Filecoin and IPFS, but overall this project differs from those in a lot of ways. Filecoin is concerned with storing files on the blockchain and renting out storage space, while we're more focused on file-sharing and the ability to earn tokens for seeding.

We'll also have to compete with uTorrent and SoulseekQt. Compared to those applications, our main advantage is offering an incentive for sharing files. This will promote seeding and allow for higher file availability - aka more files overall on the network and faster downloads.

[CoinFarmer]

The Upfiring Contribution Period is now live, by the way!

[BuyingFast]

Is Ethereum SWARM the main competitor of this project? How is development on that going?

The main competitors are projects like Filecoin and IPFS, but overall this project differs from those in a lot of ways. Filecoin is concerned with storing files on the blockchain and renting out storage space, while we're more focused on file-sharing and the ability to earn tokens for seeding.

We'll also have to compete with uTorrent and SoulseekQt. Compared to those applications, our main advantage is offering an incentive for sharing files. This will promote seeding and allow for higher file availability - aka more files overall on the network and faster downloads.

Could you say that you're like torrents where seeders get paid? I've been a seeder more than a peer my whole life, and I've never been rewarded for that in any way. It would be something if that changes.

[scam confirmed]

8% going to legal and regulatory expenses? Shouldn't this be zero though, that's why we're moving towards decentralization, to get rid of "legal" and "regulatory".

[CoinFarmer]

Is Ethereum SWARM the main competitor of this project? How is development on that going?

The main competitors are projects like Filecoin and IPFS, but overall this project differs from those in a lot of ways. Filecoin is concerned with storing files on the blockchain and renting out storage space, while we're more focused on file-sharing and the ability to earn tokens for seeding.

We'll also have to compete with uTorrent and SoulseekQt. Compared to those applications, our main advantage is offering an incentive for sharing files. This will promote seeding and allow for higher file availability - aka more files overall on the network and faster downloads.

Could you say that you're like torrents where seeders get paid? I've been a seeder more than a peer my whole life, and I've never been rewarded for that in any way. It would be something if that changes.

Yes, it is essentially that - crypto rewards for seeding, but the file doesn't have to be a torrent. Almost any type of file can be seeded.

[CoinFarmer]

8% going to legal and regulatory expenses? Shouldn't this be zero though, that's why we're moving towards decentralization, to get rid of "legal" and "regulatory".

Legal and regulatory steps still need to be taken to ensure we're not stepping into the crosshairs of any regulatory agencies. Ideally the legal work we do will all be preventative.

[okspam]

What if the ISP simply bans IPs of seeders? I listened to this podcast episode recently that explained how a decentralized exchange would need a decentralized internet first. Is the same case true for this one?

[anti-scam]

How do you promote to attract investors to join?
I think you need some people to work with the team.
yes bounty hunter is ready.