Upland is an ever-evolving ecosystem, continually striving to enhance the dynamic and engaging user experience. Today, we are thrilled to share some exciting news about Spark, the utility token that fuels the Upland metaverse platform. Although Spark has played a vital role in the Upland ecosystem for nearly two years, it has not been tradable among its owners.
Now, we are taking the first steps in potentially making Spark tradable outside of Upland via a Token Tradability Event (“TTE”). We are introducing our Sparklet White Paper to the community, which outlines our initiative to enable the trading of Spark on external exchanges, expanding its reach beyond Upland’s boundaries. As part of the TTE, Spark will be mirrored by a new ERC-20 token named ‘Sparklet’, with each Sparklet being equivalent to one-thousandth (1/1000) of a Spark.
This initiative signifies Upland's commitment to advancing its path toward progressive decentralization, where Spark holders will be able to trade Sparklet in liquid markets and store Sparklet on Ethereum wallets of their choice.
Utilizing the Upland governance mechanism, we want to ensure that the community plays a pivotal role in shaping and deciding on this initiative. We have published the Sparklet White Paper for the community to review and provide feedback. Additionally, we plan to hold a community vote to gauge your approval of the Sparklet White Paper. Only after receiving approval from the community will we move forward with the next steps of engaging with relevant partners for this significant development to expand Spark's potential and reach.
Important Note: Before reading the Sparklet White Paper, we would like to emphasize that the actual outcome of this initiative is not fully guaranteed. The publication of the Sparklet White Paper marks only the first step of a lengthy process.
Click here to read the full Sparklet White Paper.
If you're interested in discussing the Sparklet White Paper with your fellow Uplanders and having your voice heard by the Upland Team, we invite you to leave your comments and feedback on the Upland Sparklet White Paper Reddit post. The Upland Team will close this post on Friday, October 6th, at 9 AM PT, before the community vote.
After it closes, we will carefully review all the comments and feedback to make necessary adjustments to the Sparklet White Paper and present the final version when it is ready. Your participation is incredibly valuable, and we eagerly anticipate your input in this important decision-making process.
We will be hosting a Community Town Hall prior to the start of the Community Vote. This Town Hall will provide an opportunity for open dialogue and discussion with our community on the details of this development. Stay tuned for the official date and time of Community Town Hall, which will be announced soon.
The TTE presents a foundational change and opportunity for the Upland community and future Uplanders. We strongly encourage everyone to carefully review the Sparklet White Paper as we are sharing it with the community to gather your feedback and approval.
Following the community review of the Sparklet White Paper, we will conduct a community vote to determine whether it receives approval from the community. The voting polls will be open in Upland from Monday, October 9th, at 9 AM PT and close on Wednesday, October 11th, at 4 PM PT.
In the case where the Upland community approves the Sparklet White Paper, we will then begin working with relevant partners, such as exchanges and market makers on the TTE. Depending on their input and feedback, further revisions to the White Paper may be necessary. Throughout this process, we are committed to maintaining clear and open communication about the development and any updates to the White Paper.
It is important to note that while our primary objective will be to have Spark traded on exchanges, we cannot fully guarantee the outcome of this initiative. Nonetheless, we will dedicate our efforts and focus toward achieving this goal.
