UDAP Becomes the Second Project to do an IXO
QuarkChain’s first ecosystem partner, UDAP, is conducting an IXO on the cryptocurrency exchange Piexgo. The IXO will take place on 7th July 2019, and last up to 8th July 2019.
An IXO is an initiative by Quarkchain to raise QKC tokens for blockchain projects built on top of QuarkChain. An IXO is similar to ICO but instead of any other token only QKC tokens, the native token of QuarkChain, is raised.
UDAP, short for Universal Decentralized Asset Platform, is a blockchain based asset protocol that sits between applications and public blockchains to provide Restful APIs and an “Asset Wallet” for application developers to create powerful blockchain-based applications without writing any smart contracts.
As the number blockchain applications grow and blockchains improve, there is a fundamental divide between blockchains and the applications in terms of scalability, performance and user experience. UDAP plans to provide a middle layer solution to the above problem.
Using UDAP, developers can create DApps (decentralized applications) without any knowledge of blockchain or scalability required.
UDAP has been started by ex-IBM employees, with Derrick Warren, Former Vice President of IBM Global Services, leading UDAP project as the Chairman of the UDAP Foundation. Other team members include Bing Rang, Li Zhang, and Frank Ying.
The concept of UDAP was completed in 2018 and received favorable reviews in the form of angel investment from world class VCs which include JIC Capital, Direction Capital and also QuarkChain’s venture fund. To raise funds for scaling the project the UDAP will be doing an IXO.
UDAP will be the second blockchain project to raise funds through am IXO. If the IXO is a success more projects will be raising funds through an IXO.
The Token symbol is UPX and only 1,400 people will be allowed to take part. 1 QKC = 10 UPX and the cap amount to raise is 5,000,000 QKC (or $100,000 in today’s market valuation).
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