Uplink Review : Legit or Scam?

UpLink token is apparently ‘doing well in crypto apps. It is currently even trending on coinmarketcap as the highest gainer at the time of writing. I have decided not to repeat the mistakes of GreenMoonZilla, and immediately review Uplink. Therefore, If you are considering fomoing, because you saw it pumping on coinmarketcap.com, or maybe you are just curious about the token. This review is definitely for you. I have checked everything (well, almost everything)on your behalf. All you need do is to get a bottle of beer or something and consume this magnificent piece of review.

Before I start, you need to know that I’m not a banker or financial expert. I will not be held responsible for your financial decisions. This article is just for educational purposes, consider it a form of entertainment. I’m not here to promote or disparage any coin. I consider my analysis to be objective and fair. If you are not satisfied with the things I say, no problem. You are encouraged to always do your research, whether you agree with me or not.

With that say, let’s get started

Here’s a little intro to UpLink, according to Coinmarketcap.com

UpLink is the first and only BSC token that brings together rebasing and ChainLink rewards. The ChainLink rewards are distributed evenly and fairly between all holders, rewarding them for holding. The tokenomics include a tax to automatically provide the liquidity pool, marketing wallet, and the ChainLink rewards. Also, there is an Anti-Dumper mechanism that prevents people from selling large amounts, by taxing them more for these transactions”

Personal Opinion.

Rebase? Here we go again! This token looks BitUp, CakeUp, WeiUp token. The only new thing here is the ChainLink reward mechanism. But, let get into the review proper

When I am looking at a new token, to confirm their actual nature, the below are the things I look out for.

Website

White paper

Market Capitalization

Liquidity Pool

Developers behind the project

What people are saying about the

(If you are a frequent visitor of this website, you should know this. I want to stop writing this, however, 80% of my readership are new people)

I will go on to explain these points, in the following paragraphs.

Website

Uplink’s website is low budget, in my opinion. The website looks like something the developers wanted to spend little time on. It looks unoriginal, if you say childish, I’d agree with you. I could design a better site. The website is, however SSL secure, which is always a good thing. The description begins with this line.

Introducing UpLink, the first automatic rebasing token that is programmed to keep the chart constantly in an uptrend and also provides Link rewards to holders!

As a reviewer, I have seen that line multiple times. These rebase tokens always claim to be the first to do this and that. Take that with a pinch of salt.

Thank Goodness they didn’t go on fluffing around, trying to confuse everyone. They went straight to Tokenomics.

Tokenomics

They described their tokenomics like this

6% Marketing & Buyback: The marketing and buyback tax insure that UpLINK has enough reserve funds to not only maintain the growth with marketing, but also, to maintain the charts momentum when needed. Combination of Marketing and Buybacks are used to create FOMO. 1% Ecosystem: the ecosystem fee is the smallest portion of each trade, and is used to grow the WeiUP ecosystem as a whole. Whenever new developments are needed as far as with the contract, dapps, nfts, expansion of the ecoystem, etc. Overall, this tax is one of the most important as it allows UpLINK to have the ability to grow more. 3% Liquidity : This tax is used to maintain a healthy liquidity pool with also a good ratio to the market cap. A strong liquidity pool helps insure stability of the chart. Holders can make big buys or sells without it affecting the chart too much. Overall, this causes WeiUP to be more sustainable in the long-term, and a more reliable investment. 5% LINK Rewards : This tax is to pay UpLink rewards holders in Bep20 LINK. LINK contract address: 0xf8a0bf9cf54bb92f17374d9e9a321e6a111a51bd Every holder, receives their fair share of LINK, as long as they are holding. If you sell, you are limited for 4 hours from receiving rewards.”

What all these mean is that, upon buying and selling Uplink tokens, you’d be charged 15 % percent. That is, if you are investing $100 into Uplink, you’d be issued with $85 worth of Uplink, the remaining $15 goes to uplink tokenomics. If you somehow it rises to maybe $200, you’d only be able to take out $170. If you sell at a loss, they’d still include the %15 charges. 

A lot of people don’t understand what rebase is. Here’s what rebase is According to Uplink, 

Rebase is an increase or decrease in the total supply of a given token across all holding pools and all wallets. This is done in order to adjust the token price, without affecting the value of anyone’s share of coins. This can be beneficial as the chart will always look healthy regardless of dips and we can be on the top gainers parts of websites due to the illusion of a rise in price floor so is a brilliant marketing tool in itself”

If you don’t understand that definition, here’s a simple explanation.

With rebase, charts (The Uplink chart you saw, that probably persuaded you to consider the token) doesn’t mean anything in the grand scheme of things. The only things that matter is the market capitalization and total supply. If you buy and the market cap goes down, the chart goes up, holders sort of lose money. But when you buy and the market cap goes up, the chart goes down. The value of the token increases. While this is going on, the mechanism reduces your token by burning them. 

White paper

Thankfully, unlike most rebase tokens, Uplink has white paper. The white paper begins like this

“UpLink token, in its full form, is an automatic next-gen rebase contract with Chainlink rewards.Being based on a unique rebase contract, UpLink is a price-elastic token with an automatically adjusting supply. Designed to continuously rise in price, you can be sure that UpLink is on its way up the list of trending tokens. Automatic ChainLink reward let community members hold their token with peace. It also brings an additional incentive to hold and watch the chain link reward.”

The whitepaper promises to reward holders with Chain Link whilst they hold the token. The reward, however, depends on the trading volume of that day, aka do not expect rewards all the time.

Market Cap and Liquidity Pool.

According to poocoin.app, Uplink’s market cap is $2,542,737. This is an ok market cap, considering Uplink just launched. It means people are investing in the UpLink ‘project’.  The Liquidity pool is worth $319,302. 96% of the liquidity pool is locked according to Mudras, a token research third party company.  While about 2% is unlocked. Mudras also say 0.7057 (0.01%) will be unlocked in 15 days.  This gives investors more confidence against a rug pull.

The UpLink token has 8,084 holders. This is generally seen as good. People are FOMOing into this token, without really knowing the they are doing. The holding percentage is a mysterious. The top holder is holding a massive 2, 105% of the token. Whether this is a glitch or not, I don’t know. It is a potent red flag.  The Developer’s plan seem to be working and many more people will join the crowd as the token consistently take the top spot on CoinMarketCap and others.

Developers behind the coin

The creators of UpLink are unknown. The developers aren’t doxxed. This is a red flag. I get the feeling that the developers of this token are also responsible for other tokens that have fizzled out. For example, check CakeUp, BitUp, and even WeiUp. Anything that contains Up, they are responsible. It’s a never-ending circle of Ups. When this one fails, eventually, they’d come up with another ‘Upsomething’ or somethingUp.

What people are saying about the coin

On youtube, no creator seems to have done anything about it. The only thing I saw as regards the coin was a video on how to buy it. 

However, on Twitter, many people seem to not know what the coin is about. Here’s a screenshot on their Twitter page.

On Discus, here’s what people are saying about the coin.

Conclusion

UpLink token has the potential to be a scam. The token has ticked most of the boxes of a scam coin. The coin is however very new and it has locked liquidity according to a third party. The negative ethical rationale behind the token is however obvious,  they prey on investors’ need (greed) to not miss out to sell them what is essentially a Shitcoin. The token doesn’t have any use case, and when the token fails, eventually, they will move on to create another one. It is designed to confuse and frustrate while pretending to be legit. You’d always see it at the top of CMC, that it is because it was designed to be that way. But, in case, you feel like I’m talking rubbish and go ahead and buy. Look at the market cap before buying.

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10 Comments

  1. Thank you for review.
    You done all the work for me, shame I read your review a day to late!!
    Thankfully I only invested £50, it’s pretty much all gone now, however token price still keeps shooting up!! Great mechanics to keep the price up! And you can’t sell either…if it looks to good to be ture, it probably is!!

  2. $300AUD is now worth $100AUD, but the coin has managed to go 11ty billion percent up?
    makes no sense that my stake is worth less than one third as the originally invested amount but hey it is only 300 bucks so ill just hold it and see if it eventually gets fixed and I start making money, 300 bucks is only one and a half trips to the knock shop, and god knows I’ve spent that in one night on alcohol so I don’t really care

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