Own the liquidity layer
of BNB Chain

An evolved ve(3,3) exchange built to move an entire ecosystem in one direction. up.

Preview — contracts are not deployed. App actions use demo balances only.

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1 BNB = — USDTFee 0.05%

Crypto and Stock Tokens in one venue

Every listed market settles on BNB Chain and plugs into the same flywheel.

Four ways in, one way up

Traders pay fees, liquidity providers earn rewards, and long-term lockers decide where those rewards go.

1

Swap

Swap through v2 and v3 pools with one quote. Every trade pays a fee to the pool it crosses. Fees earned by staked liquidity go in full to the voters backing that pool, paid in the pool's own tokens.

2

Provide

Deposit into the pool that fits the pair (stable, volatile, or a v3 range), then stake it in the gauge. Staked liquidity trades its fees for UP emissions, sized by the vote and capped by the fees the pool produces.

3

Lock

Lock UP for one week to four years and receive veUP, an NFT that carries your voting power. Power scales linearly with the time locked. A permanent lock holds full weight and never counts down.

4

Vote and earn

Point your veUP at the gauges you want funded before each 7-day epoch flips. Your vote directs the next epoch's UP emissions and earns you that epoch's own fees and incentives, claimable at the flip.

Real numbers, updated live

Totals across up. pools on BNB Chain: value locked right now, volume and fees since the first pool opened, and the 7-day epoch they are running in. These go live with the first pool.

💧Total value locked
—OPENS AT LAUNCH
⇄Volume (all time)
—OPENS AT LAUNCH
🎁Fees (all time)
—OPENS AT LAUNCH
◷Current epoch
0Epoch 1 starts with the first pool

Two ways to provide

Spread liquidity across every price, or concentrate it in a range you pick. Either way the pool can carry a gauge and compete for emissions.

v2 pools

Paired, full-range liquidity in two curves. Volatile pools use a constant product and charge a 0.3% fee, which suits uncorrelated pairs. Stable pools use a curve shaped for assets that should trade near parity, at a lower fee. Deposit both tokens and stake the LP token you get back in the pool's gauge.

price
Liquidity spread across every price.
Pool typeSwap fee
Volatile0.30%
Stable0.05%

v3 pools

Place liquidity inside a price range you choose and earn fees only while the market trades there. A tight range earns more per dollar deposited. A wide one needs less tending. Seven tick spacings cover everything from pegged stables to new listings.

price
Liquidity focused where trading happens.
Tick spacingBase fee
10.01%
100.05%
500.05%
600.30%
1000.05%
2000.30%
20001.00%

Fees that move with the market

Swap fees are read live rather than fixed at deployment. When volatility and volume pick up, a pool's fee climbs from its base toward its cap. When markets calm, it settles back down and stays cheap for routine flow.

Read live, every swap

No pool hardcodes its fee. Each swap asks the fee module for the current rate at execution, so pricing policy can change without migrating positions.

Base to cap with volatility

Every dynamic pool carries a base fee and a fee cap. Turbulence lifts the fee toward the cap, paying liquidity for the risk it is carrying. Calm brings it back to the base, where routine flow is cheap to trade.

Hard ceilings

The factory accepts nothing above 10% from any fee module and falls back to the pool's listed rate if a module ever misbehaves. v2 pools keep fixed rates under a 3% hard ceiling.

Turbulence feeds the flywheel

Fees from staked liquidity flow to voters, and fee value sets gauge caps. A volatile hour pays voters more and lifts the pool's emission ceiling at the next distribution.

One market day

Calm morning, violent noon, calm close. The fee sits at its base while the market drifts and climbs toward the cap while it whips. It comes back down once the storm passes.

Fee capFeeBase feeVolatility

Emissions go where they earn

Gauge caps tie each pool's emissions to the trading fees it produces. Votes decide the split and fees set the ceiling. Anything past the cap burns instead of diluting the protocol.

Pay for performance

Three pools, one epoch. The busy pool trades enough to clear its ceiling and is paid in full. The steady and idle pools are both voted past what their fees justify, and everything above a dashed line burns.

cap
cap
cap
Busy poolpaid in full
Steady pool—
Idle pool—

Anything above a pool's cap is burned rather than paid out.

Fees set the ceiling

A gauge can receive at most a governance-set multiple of the WBNB value of the trading fees its pool produced. A vote can move emissions toward a pool. It cannot raise that ceiling.

Excess burns

Emissions voted past the cap are burned, not redistributed. Idle pools cannot drain active markets, and every burned token is supply growth that never happens, so holders never take the dilution it would have caused.

Rules in the open

A new gauge gets a 7-day grace period before any cap binds. Cap changes are onchain actions, visible before they affect an epoch.

A dial for growth

Caps scale with fees on their own. A single pool's multiple can be widened when volatility picks up and liquidity needs to lead demand, then tightened again as the market normalizes.

Measured in value

The caps compare value to value. When UP trades high, the same emission is worth more, meets the caps sooner, and more of it burns. Issuance tightens when dilution would cost holders most and loosens when liquidity needs buying.

The difference from earlier deployments

The first ve(3,3) exchanges paid emissions for votes alone, so voting your own quiet pool was the winning strategy and the token inflated to fund it. Caps close that loop.

Earlier ve(3,3) deploymentsup.
Votes alone set every payoutTrading fees cap every payout
Over-voted emissions pay out in fullOver-voted emissions burn
Farming a dead pool is profitableFarming a dead pool wastes the vote
Inflation equals the scheduleInflation runs at or below the schedule

The case for locking UP

Locking turns UP into veUP, an NFT that votes on where emissions go and collects what the protocol earns. Built as a public good for BNB Chain, with no venture allocation ahead of its users.

Fee share

Fees from staked liquidity route to voters in full, paid in the tokens each pool earned.

Incentives

Projects pay voters to send emissions to their pool. Back a gauge and you take a share of that by voting power, on top of the fees.

Permanent locks

Switch a lock to permanent to hold maximum voting power with no expiry, and switch back to a dated lock whenever you choose.

No one ahead of you

No venture allocation and no early tranche waiting to unlock. Every allocation except the incentive budget and seed liquidity is locked as veUP, and the foundation earns fees beside every other locker.

Lock calculator

Voting power is linear in both amount and duration: veUP = UP × lock time ÷ 4 years.

Your voting power100 veUPDecays linearly to 0 at unlock

Locking 100 UP

How lock time sets voting power.

Lock durationVoting power
4 years100 veUP
2 years50 veUP
1 year25 veUP
6 months12.5 veUP
1 week0.48 veUP

An airdrop every epoch

The 100,000,000 UP community distribution is not a launch event. It pays out epoch after epoch to the people aligned with the protocol, for as long as the allocation lasts. Qualifying again next week is what earns the next payout.

One snapshot

A one-time drop pays for what an address did before the snapshot, and it is gone in days.

Paid once. Farmed, then dumped.

Every epoch

A drop every epoch keeps paying for staying aligned, week after week, so there is no exit event to farm toward.

Paid weekly. Earned again every epoch.

Lockers and voters

Weight to locked positions and epoch vote participation. The people with the longest commitment come first.

Liquidity providers

Depth in the pools the protocol needs most, rewarded on top of the gauge emissions those pools already earn.

Traders

Real flow through the protocol's markets. Volume that pays fees counts as alignment.

Builders and partners

Protocols, wallets, frontends, and communities that route flow to the protocol or build on top of it.

On the shoulders of giants

The design draws from established exchange architectures. The changes are aimed at the pitfalls those deployments exposed.

Proven foundations

The planned ve(3,3) core draws from the Velodrome line and the v3 liquidity engine from Uniswap. Both have cleared years of adversarial use at scale, so up. starts from code the market has already tried to break.

Where it departs

Gauge caps burn emissions that trading cannot justify, and dynamic fees price volatility instead of averaging it. The swap engine and the pool math are untouched.

How the modules attach

Guarded calls, hard ceilings and automatic fallbacks stand between every module and the core.

Gauge caps
Dynamic fees
Proven coreve(3,3) + v3 engine, planned

New behavior docks as a module. The planned core keeps pool math untouched.

SECURITY

Audit before launch

The audit report, all findings and their statuses get published here before the first pool opens.

REPORT: TBA

Planned integrations

Routing, analytics and portfolio tracking on BNB Chain. Integrations are listed here as they go live.

DexScreenerDefiLlamaCoinGecko1inchKyberSwapOKX DEXDeBankBinance Wallet
up.

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