Team researches the costs of digital asset transfer within the UpOnly ecosystem
UpOnly is a one-stop shop for investors, gamers, and developers in the GameFi and Metaverse market. To boost utility, we are debuting a range of interconnected services to produce an ecosystem with multiple ways to earn maximum profits. One way to ensure our users make as much as possible is to reduce the cost of transferring items on our platform.
Many of our new services will require item transfer on the blockchain. Our Gacha Service, Marketplace Service, and ICO Service all require the transfer of digital assets from one Web3 user to another. Transfer fees must be as low as possible, particularly for high-volume traders.
Fortunately for all UpOnly community members, we are on the Polygon blockchain. Polygon employs various technologies, including sharding, proof of stake (PoS) consensus, and plasma, to facilitate quick and cheap transactions. This feature enhances the accessibility and usability of dApps for end-users.
More good news — Polygon proposed a hard fork on January 17th to address gas spikes and chain reorganizations. The hard fork aims to cut transfer fees in half, dropping from 12.5% to 6.25%.
However, UpOnly will also do its part to ensure users get the best possible transaction prices. Depending on the time of day, gas fees vary. Our developers are installing a widget that informs users of the optimal times to perform transactions on Polygon. We will also offer gas discounts for high-volume users as a loyalty rewards system.
UpOnly plans to become a trading hub in the Web3 world. A place where partnering projects can display their GameFi and Metaverse items in one place, akin to a digital shopping mall. With that vision, making gas fees for customers as low as possible is essential. Our team is working tirelessly to make it a reality.
UpOnly Sprint Objectives
System Analyst
- Design workflow for multichain switching interface.
Frontend
- Support Gacha service.
- Implement marketplace service.
- Implement multi-chain switching.
- Refactor investor tracking.
Backend
- Implement marketplace service.
- Support Gacha service.
- Support multi-chain switching.
- Support investor tracking
Smart Contract
- Research gas fees for transferring items.
- Refactor marketplace service.
- Support Gacha service.
- Audit ICO and staking service.
QA
- Create a manual test for the Gacha service.
- Create an automated test for the ICO service.
