On August 6, PANews reported that the cryptocurrency company Superform Labs announced the establishment of the Superform Foundation on platform X, which is legally independent from Superform Labs. The foundation will advance its work through four core objectives: maintaining core infrastructure, expanding the ecosystem, developing a token governance mechanism and overseeing token and fee distribution, and promoting the transition of the protocol to decentralization while maintaining transparency.
In the coming months, with the release of the Superform version, the foundation will launch the token economics paper, protocol documents, core governance proposals, and will implement token utility functions. It should be noted that the foundation does not allow users from restricted regions to participate. UP is a utility token used for protocol coordination and does not represent equity, dividends, or any claims to future revenue.