In October of 2023, Uplanders voted to adopt the Sparklet whitepaper that would lead to the launch of a new token called Sparklet on the Ethereum Blockchain. This token is a utility token that can be bridged into the Upland metaverse and utilized to construct, manufacture, and more within Upland.

Ahead of the token release, on July 19th, 2024 Upland has made some amendments to this white paper, and they are as follows:

  • Spark has been removed from Upland. All Spark has been converted to Sparklet at a rate of 1 Spark = 1000 Sparklet. This was done to remove confusion between the two different tokens. This change was implemented in June 2024.
  • The “Upland Treasury” account has been renamed to “Development and Growth”
  • The Development and Growth account has been reduced from 40.3% of all Sparklet to 31%
  • An additional account was added named “Token Launch Campaign” and will be 2%. In this pool will be appropriated to support token launch activities in conjunction with partnering central exchanges as well as rewards for Chapter 2 airdrop campaign.
  • The vesting period of Sparklet has been reduced to 10 years down from 30 at the advice of token launch partners to addressed concerns about potential liquidity problems.
  • The existing Upland players sparklet account has increased from 5.7% to 7.55% of total Sparklet. This 7.55% will further increase to 14% as the current holders of Sparklet will get more holding in proportion to the total supply of Sparklet. This is due to the expectation that Sparklet will have a lower valuation so Upland wants it to hold value. The distribution will be done in two different allocations:
    • Players who have purchased Sparlet/Spark: Your additional Sparklet will be proportional to the amount of Sparklet purchased, and will have to be proactively claimed. Any unclaimed Sparklet will be forwarded to the Incentives & Rewards allocation.
    • Players who have earned Sparklet/Spark through contests/treasure hunting, etc: The distribution of additional Sparklet for those earned it will be based on continued engagement on the platform and will be distributed over the next few seasons. Players will need to hold and use their Sparklet in Upland and stay active and engaged to receive the airdrop.

For more insight as to what type of players need Sparklet, check out the video below. Learn about the 5 years of Sparklet in the making here.