BTCFOMCWatch

$BTC is currently trading around $69,800, with the fear and greed index showing a score of 72, indicating some level of optimism among investors and traders about its price direction. After reaching a new all-time high of approximately $73,700 on March 14, 2024, Bitcoin underwent a consolidation period. Following this peak, it dropped sharply to the $61,000 region, then rose again to the $71,000-$72,000 range, only to be rejected twice and start declining towards the range-low. During this decline, it formed a bullish flag pattern on the daily chart. On May 15, Bitcoin successfully broke out of the bullish flag, reaching the $71,000-$72,000 region, which has been acting as a strong resistance zone. It was rejected twice again from this area.

Another key observation is the recent upward movement that began from the range low on May 2, forming a trendline. After the latest rejection from the range high, $BTC broke below the trendline and dropped to the $66,000 region, creating a sub-range. This sub-range low also coincides with the EMA 50 (1D), making it a significant region. Today, with a positive CPI outcome, Bitcoin bounced from this level and is currently retesting the trendline.

Let's explore both bullish and bearish scenarios:

Bearish Scenario: This sub-range is currently crucial. If $BTC gets rejected again from the trendline, it is likely to decline towards the sub-range low once more. A break below the sub-range low would likely lead to a drop to around $64,000, which also aligns with the daily supertrend.

Bullish Scenario: For bulls, the region around $72,000 is the most critical area, representing the range high. $BTC has been rejected from this level five times in the past three months. For a bullish outlook, Bitcoin needs to achieve a clear breakout of the range and a daily close above $72,000. In the event of a successful breakout, Bitcoin could rise to the $78,000 to $84,000 region. See the chart below, where targets for both scenarios are mentioned.

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Who will Up?

The UXLINK project adopts dual-token (on-chain points & token) economics model, comprising the community's native utility token or points ($UXUY, as POW records) and governance token ($UXLINK).
The point plus token model provides a framework of governance and development of our community and ecosystem, while maximizing the transparency and fairness.
1 UXUY: UXLINK Utility Token/Points
UXUY is the reward system points for UXLINK's community and ecosystem development, solely based on a transparent Proof of Link (POL) mechanism. There is no pre-minted UXUY; linkers earn UXUY by inviting others or contributing to the ecosystem. A linker can be an individual or a partner/developer. Stored in an Ethereum-compatible wallet, the earlier a linker creates their social network, the more UXUY they receive. This approach ensures fairness and simplicity of community growth.
1.1 UXUY Token Reward Decreasing Formula
Rewards = OG [ TAM(ts) (1 + EAR（cLg）)* cLu / log2(cLg) ]
Where:
TAM(ts0) = max(3000 - [(ts0 - tsG)/3600*24], 1)EAR(cLg) = max((k/100) - 0.001 * [cLg / 100000], 0)OG - Users holding SEAMAN NFTs are OG users, and their incentive weighting coefficient is 120%.TAM - Time amplifier, incentivizes early adopters.EAR - Early Adopter Reward, incentivizes early contributors.For networks with 0-100,000 people, the EAR incentive factor starts at 90%.For networks with 100,000-1,000,000 people, the EAR incentive factor starts at 30%.After 1,000,000 people, the EAR incentive factor decreases to 10% and decreases linearly by 0.1% every 100,000 people.k - EAR incentive factor:
[cLg < 100,000, k=40].
[10 < cLg < 1,000,000, k=20].
[cLg > 1,000,000, k=10].

ts0 - the current node's establishment time.tsG - the project's genesis release start time.cLu - the number of people who established the current node.cLg - the total number of people in the UXLINK network.When cLg >= 30 million, Rewards = 0, which means that no new UXUY Tokens will be produced once the network reaches 30 million. At that time, the value formed by the network effect can support users and nodes to continue expanding and reach a level of billions.
The UXUY utilizes a decrement logic reminiscent of Bitcoin's, employing a computational formula closely aligned with Bitcoin's mining logic. Key variables influencing token decrement include time, the number of connections to a single node, and the overall UXLINK network's total user count. As the UXLINK network expands, users will experience an exponential decrease in the UXUY earned. Consequently, users entering the UXLINK network later will receive fewer UXUY, emphasizing the scarcity and value of early engagement.
1.2 UXUY Utility and Burn Mechanism
Both users and developer utilize tokens to interact with UXLINK networks.
UXUY can be used to pay for commission fees and "gas" fee within the whole ecosystem, covering transactions, transfers, and social network interactions. Notably, a percentage ranging from 3% to 15% of these fees within the UXLINK ecosystem will be subject to a token burn mechanism at UXLINK’s sole discretion.
If UXUY is not claimed on-chain and the users are not active within 6 months, the points would be re-allocated to the community or burnt.
If UXUY is generated by misbehaved or dishonest behaviors, e.g. by linking fake accounts, the points may be disqualified and re-allocated to the community or burnt.
2 UXLINK: UXLINK Governance Token
Our to-be-issued governance token - $UXLINK is to realize governance and capture benefits from UXLINK project and products.
5.2.1 Total Supply and Allocation
The tokens have limited supply of no more than 1,000,000,000 and we propose below allocation based on maximized supply.
Community |Users who own UXLINK utility tokens, and builders and partners contributed to UXLINK projects and ecosystems =65%
Private Sale |Partners of this project.=21.25%
Team | Co-founders, contracted employees, advisors.=8.75%
Treasure | Reserves such as launchpads, reserves, staking.=5%

Notes：
Among the 65% of community, users account ~40% while all other types of builders and partners account ~25%.For development of the project, new partners would be in, and this would change the allocation. We will keep the change transparent if it occurs.
For dishonest and misbehaved behaviors, the community reserve the rights to disqualify the tokens and reallocate to the community.
$UXLINK Utility
Both users and developer utilize tokens to interact with UXLINK networks.
Developers need to pay $UXLINK for usage of UXDapps, protocols and data.Users can pay $UXLINK for commission or gas fee for Dapps and services.
5.2.3 Release Schedule
Please note the starting point is upon listing/TGE
Community: $UXLINK tokens will be airdropped to active users, builders, and partners monthly. Notably, once airdropped, there is no lock-up period, providing immediate access.Partners: Initially subject to a 3-month lock-up, followed by a 2-year linear quarterly release. This entails a gradual release of 12.5% per quarter for 8 quarters, promoting long-term engagement.Team: Initially subject to a 6-month lock-up, followed by a 2-year linear quarterly release. This entails a gradual release of 12.5% per quarter for 8 quarters, promoting long-term engagement.Treasury: Flexible
Below is the indicative maximized supply of $UXLINK since listing in 16 quarters, 4 years.
Notes:
By end of 12th quarter, if the project reaches 30,000,000 users, the total supply will reach the max.The current release schedule is aligned by partners and community, but if the tokens are listed in CEX, the release schedule would be further adjusted.
5.2.4 Community Allocation Strategy
The total supply of $UXLINK allocated to the community is intricately tied to the POW (Proof of Work)/POL (Proof of Link) contributions from users and various builders. According to our utility tokens generation formular: the maximized potential supply will occur when the total qualified users achieve 30,000,000; the networks' utility and gravity can support growth without a reward system beyond 30,000,000 users.
The $UXLINK release according to the total number of users; time axis is an indirect factor, indicating that:
If total number of users reaches 30,000,000 earlier than scheduled, more $UXLINK will be release earlier.If the total number of users reaches 30,000,000 later than scheduled, the maximized supply will take longer time to released.If the total number of users cannot achieve 30,000,000 users, the total supply will not reach the max supply at all. As a result, the total supply would not reach the max-supply of 1,000,000,000.
Project team reserve the rights to buy back tokens (UXUY and $UXLINK) from public market, private market and community to maximize the benefits of community at UXLINK’s sole discretion.
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