June 18th, 2020 
 

Uptrennd  
 
 
Overview 
 
Uptrennd  (1UP)  is  a  fast-growing  social  media  platform  for  web, 
IOS/Android  (pending),  and  on-chain  DAO  (pending)  with  four  key 
principles  that  underpin  its  primary  goals  of  decentralization  and 
user-centricity:  
 
1) Distribution of Wealth  
 
Uptrennd  users  are  able  to  earn  points  for  interacting  with  the  platform 
through  posting,  commenting,  receiving  upvotes,  and  similar  activities. 
These  points  are  redeemable  for the platform’s token, 1UP, which in turn is 
redeemable  for  fiat  currency  on  third-party  exchanges.  In  addition,  the 
platform  employs  a  level  system  which  is  tied  to  users’  point  earnings: 
users  with  higher  levels  are  able  to  earn  more  points  for  their interactions 
with the platform.  
 
2) Freedom of Speech 
 
Uptrennd believes that users should be free to voice their diverse opinions 
without censorship on the basis of subjective biases. This is so long as 
users are compliant with the platform’s legal requirements and 
community guidelines (e.g. - no hate speech/threats of violence, content 
plagiarism, point system abuse/manipulation, etc.).  
 
3) Equality of Opportunity 
 
Uptrennd makes it a priority to not give preference to older users on the 
platform: it strives to give all users equal opportunity for visibility and point 
earning potential based on the quality of users’ activity on the platform as 
opposed to their seniority. 
 
4) Data Privacy 
 
Uptrennd places immense importance on the preservation of user privacy. As 
such, Uptrennd does not collect, sell, or disseminate user data in any form.  
 
 
 
 

 
  
 
The point system is an integral part of the Uptrennd platform that gives it a 
unique value proposition over competing platforms: users are essentially able 
to monetize their content. A summary of the point earning and spending 
channels is outlined in the table below.  
 
POINT EARNING  POINT SPENDING 

Upvotes  Advertising 
Comments  Highlighted Posts 
Content Promotion   Goods/Services Marketplace 
Contests  Community Creation 
Donations  Token Redemption  
Login Bonuses 
Point Purchases 
Friend Invites 

 
SWOT Analysis 
 
The matrix below outlines a high-level SWOT analysis summary of 
Uptrennd at its current stage. Note that each category is elaborated on 
further in different sections of the report.  
 

STRENGTHS    WEAKNESSES 

Very high user growth rate  Software developer shortage 

- 60% monthly YTD  - Previously limited by capital 
- Outpacing competitors  constraints  
Compelling user value proposition   
- Four key principles  Platform currently implemented as 
Strong user engagement  off-chain web 2.0 application  
- 18:51 average time on site   - Currently in beta development 
- 21 average page views per visitor  phase  
Considerable potential undervaluation   
- Token potentially trading at roughly 1/12 of its intrinsic value  User abuse/manipulation of point 
​Driven and relatively experienced team  system 
- Record of managing large cryptocurrency communities  - Lack of robust automated system 
- Company culture of intrapreneurship  for flagging fraudulent user 
Institutional partnerships  activity  
- GDA Capital  - Pending development  
- Mousebelt blockchain accelerator 

OPPORTUNITIES  THREATS 

Steemit-Tron takeover controversy  Competition 

- Centralization concern due to Tron’s large token stake  - Steemit (STEEM) and Hive 
post-takeover  - Currently larger blockchain-based 
- Allegations of bribery/collusion leading to takeover  social media projects 
Increased user adoption with mobile application and DAO   
development   Cyberattacks 
- Android (Aug. 2020)  - Minimal though potential risk of 
- IOS (Oct./Nov. 2020)   user data/asset theft  
- DAO (Dec. 2020)  
Additional revenue-generating features/channels 
- Token withdrawal 
- Payment interface 
Increased partnership/promotional channels 
- Cryptocurrency community groupsIOST 
Pending others 

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Investment Thesis   CPM attempts to measure the cost to 
  advertisers in reaching 1,000 user 
Uptrennd’s compelling value proposition  impressions on a social media platform. 
is evident through its significant monthly  Given that advertisers can purchase 10 
user growth in addition to its impressive  impressions for one 1UP token on 
user engagement statistics. In this regard,  Uptrennd, 1000 impressions would 
it’s clear that Uptrennd’s ethos resonates  require 100 1UP tokens. Since the price of 
with users: it presents a unique  a single token is currently $0.004515 
opportunity for users to finally place their  (USD), 100 1UP tokens would cost $0.4515; 
social media experience in their control.  this is Uptrennd’s current CPM. 
The combination of Uptrennd’s driven,  Uptrennd’s market value per user (MVPU) 
relatively experienced team as well as  is simply calculated by dividing its current 
institutional partnerships and capital  market capitalization ($870,761) by its 
provides additional affirmation of the  current total user base (roughly 100,000), 
company’s ability to execute its mandates  producing an MVPU of roughly $8.70. 
despite its current weaknesses and   
threats. Furthermore, the possibility to  The table below compares the average 
capitalize on additional opportunities  CPM and MVPU of different social media 
such as mobile/DAO platform  platforms that share some fundamental 
implementations, major competitor  similarities to Uptrennd:  
controversy, and continued platform   
development renews confidence in    CPM​1  MVPU​2 
Uptrennd’s significant upside. Additional 
analysis of Uptrennd’s financial  Uptrennd  $0.4515  $8.70 
information, token economics, trading 
summary and Telegram activity provide  Facebook  $7.19  $252.59 
increased favourable support. 
Instagram  $7.91  $102.00 
Considering the above factors coupled 
with the considerable potential of current 
Twitter   $6.46  $82.91 
undervaluation, Uptrennd appears to 
present a strong and unique investment  LinkedIn  $6.59  $39.70 
opportunity.  
  Average   $5.72  $97.18 
  1​https://www.webfx.com/how-much-does-social-me
Valuation  dia-advertising-cost.html 
2 ​https://ca.finance.yahoo.com/​; 
  https://www.statista.com/ 
June 4th, 2020 
  
 
The lack of publicly-available financial  Evidently, Uptrennd’s CPM and MVPU are 
information for early-stage blockchain  significantly smaller compared to the rest 
projects makes traditional valuation  of the platforms in the table. However, 
methods difficult. However, there are two  based on the ratio of the average CPM to 
key proxy metrics that can give insight  Uptrennd’s CPM as shown above 
into Uptrennd’s relative valuation: cost per  (5.72/0.4515), Uptrennd’s 1UP token could 
mille (CPM) and market value per user  potentially be worth $0.0572, with a 
(MVPU).   corresponding market capitalization of 
$11,031,627. Likewise, based on the ratio of 
 
the average MVPU to Uptrennd’s MVPU 

June 18th, 2020  Global Digital Assets | gda.capital ​3 

  
 
listed above (97.18/8.70), Uptrennd’s 1UP  token, 1UP, at the time of writing (i.e. - 
token could be worth $0.0504 with a  June 4th, 2020​). 
corresponding market capitalization of  Ticker  1UP 
$9,726,552. Therefore, based on MVPU and 
CPM averages, Uptrennd’s 1UP token may  Price  $0.004515 USD 

intrinsically be worth $0.0504 - $0.0572  Market Capitalization  $870,761 USD 

with a valuation of approximately 
$9,726,552 - $11,031,627; roughly 11x - 12x its  Volume (24h)   $33,566.71 USD 

current price and market capitalization.  Circulating Supply   192,860,607 1UP 

While Uptrennd is the smallest and the 
youngest social media platform in the  Total Supply  995,554,318 1UP 

table, the huge discrepancy in its CPM  Percent of Supply in  19.37% 
and MVPU metrics compared to social  Circulation 
media averages may suggest 
Trading Exchanges  Altilly, Idex, P2PB2B, 
considerable undervaluation and  Multi.io*, Amplify*, 
potential for upside growth.   KuCoin* 
  *Pending listing 
   
Trading Summary   
   
The adjacent table details high-level 
trading data regarding Uptrennd’s utility 
 
 
Token Economics  
 
 
Currently, there are 192,860,607 1UP  In terms of implementing this scarcity 
tokens in circulation with a total supply  and slowing token generation, as the 
of 995,554,318 1UP tokens. 1UP tokens  circulating supply increases by 
enter circulation when an Uptrennd  100,000,000 tokens, Uptrennd invokes 
user redeems their points earned on  a halving process akin to Bitcoin (BTC). 
the platform for tokens.   In essence, 1UP tokens become 
  roughly twice as difficult to earn after 
The Uptrennd team plans to limit the  each halving in terms of the number of 
supply of circulating tokens by  points required for token exchange. 
engaging in buybacks from exchanges  For instance, when the circulating 
using some percentage of advertising  supply passed 100,000,000 tokens, the 
revenue (50% - 80%). Uptrennd’s goal  exchange rate for upvotes to tokens 
in limiting the circulating supply is to  went from 1:1 to 1:0.45. Likewise when 
focus more on the value of tokens  the circulating supply passes 
rather than distribution, with a  200,000,000 tokens, the rate will be 
particular emphasis on pegging the  1:0.267. Uptrennd has provided a table 
value of tokens to ad impressions on  to visualize this process as shown 
the platform.  below.  
 
 

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In addition, note that Uptrennd forecasts an equilibrium level of circulating supply 

around 400,000,000 tokens, potentially resulting in an equilibrium upvote to token 
exchange rate of 1:0.120. Finally, note that when Uptrennd transitions to an on-chain 
platform, non-circulating tokens will be burned and new 1UP tokens will be generated.  
 
 
COMPETITIVE ANALYSIS  can join and begin interacting with the 
  platform seamlessly, unlike with 
Uptrennd’s competition stems from  Steemit and Hive, where new users 
other blockchain-based social media  often have to wait days for verification 
platforms, particularly Steemit (STEEM)  to create an account and onboarding is 
and Hive (HIVE), with current market  generally geared towards those 
capitalizations of $72,664,239 and  involved in the cryptocurrency 
$87,889,761, respectively. While Steemit  community. This will likely make the 
and Hive currently have larger market  process of widespread adoption and 
capitalizations and wider user bases  onboarding relatively easier for 
than Uptrennd, the latter has a  Uptrennd as a result.  
considerably greater growth rate:   
Uptrennd has grown by roughly 60%  Secondly, Uptrennd has an inherently 
month over month in 2020 and is  more democratic structure in terms of 
projected to reach 2.2 million users by  equal opportunity for visibility and 
January 2021. Moreover, some of  earning among users. Steemit and Hive 
Uptrennd’s key engagement metrics  are more oligarchic, as bigger accounts 
also serve as a testament to its  tend to get better visibility and 
impressive growth so far: 3,132,000  monetization. Moreover, new users 
monthly upvotes, 92,516 posts per  cannot instantly find their friends on 
month, and 1,288,812 comments per  these platforms which impedes the 
month.   growth of their networks. This leads to 
  relatively poor average engagement for 
Uptrennd has a few key advantages  Steemit and Hive, with low user 
that position it well in relation to its  stickiness and a high bounce rate. The 
competitors going forward. First,  opposite seems to be true for Uptrennd, 
Uptrennd’s user-friendliness and  which can be observed via the 
onboarding extends well-beyond the  engagement metrics in the following 
cryptocurrency community. New users  table. 

June 18th, 2020  Global Digital Assets | gda.capital ​5 

  
 
  basic voter protocol MVP) is currently 
  Uptrennd  Steemit  Hive  less than $1000.
(1UP)  (STEEM)  (HIVE) 
 
Avg.   
time o​ n  18:51  2:45  1:31 
site  Scenario Analysis  
(min.)   
Based on current growth levels and 
Page 
views  21  2.2  2.1  collected financial information, the 
per  table below details some high-level 
visitor 
downside, target, and upside scenarios 
  in terms of Uptrennd’s growth in the 
  near future (i.e. - January 2021).  
 
Financials  
300,000 total users 
  Downside (3x)   
The table below details high-level  $45,000/month 
information related to Uptrennd’s  revenue  

monthly income and expenditures  1,000,000 total users 

year-to-date:   Target (10x)   
  $150,000/month 
revenue  
Operating  Banner Ads - $15,000 
Revenue  2,000,000 total users 
Upside (20x)    
Operating  Developers - $7,000  $300,000/month 
Expenses  Miscellaneous - $2,000  revenue 

Operating  Total - $6,000   

Income   Note that the total user projections 
  represent growth from the current user 
Note that a portion of Uptrennd’s  base (≈100,000 total users), with a 3x 
operating income is in-turn used for  (downside), 10x (target), and 20x 
token buybacks to manage circulating  (upside) multiple. Monthly revenue 
supply, as well as to service monthly  projections also scale proportionally in 
loan payments. Additionally, note that  this way from the current levels 
Uptrennd maintains adequate cash  (≈$15,000/month revenue) by the same 
flows to remain liquid for covering  multiples. The multiples used in the 
expenses and keeps minimal debt on  analysis represent approximate 
its balance sheet.    benchmarks based on Uptrennd’s level 
  of monthly growth year-to-date (i.e. - 
In addition, it is also notable that  60% month-over-month; 1.6x). 
Uptrennd plans to introduce new   
revenue channels onto the platform in   
the near future, which could potentially  Investment Risks  
bolster its monthly revenue levels.   
Moreover, the expenditures associated  The list below summarizes some of the 
with Uptrennd’s IOS/Android  key risks associated with Uptrennd 
applications have already been  currently:  
successfully financed and the projected   
total cost for the on-chain DAO (i.e. -  1. Transition to on-chain DAO 
platform  

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The chief concerns associated with  3. Cyber attacks 
Uptrennd’s transition to the blockchain   
DAO platform are two-fold. The first risk  Uptrennd is subject to the risk of cyber 
concerns the reduced speed of  attacks that may compromise user data 
delivering data-intensive content (e.g. -  and assets (i.e. - tokens/points). To date, 
videos) to users on-chain relative to the  Uptrennd has only experienced a single 
current web implementation. Uptrennd  cybersecurity incident in its third 
plans to address this risk by using  month of operations. With the help of 
well-built libraries (i.e. - InterPlanetary  security consultants, the Uptrennd 
File System; IPFS) in order to efficiently  team was able to identify and patch up 
store and share data on the platform’s  any vulnerabilities associated with the 
distributed network. The second risk  incident, as well as others that posed a 
concerns payments being issued by  potential threat. Continued 
Uptrennd for fraudulent interactions  development and patching has made 
with the platform (i.e. - user  cyber attacks a minimal risk for 
abuse/manipulation). Currently, the  Uptrennd going forward. 
web implementation allows for   
payments for fraudulent interactions to  4. Competition  
be reversed after issuance, though an   
on-chain implementation would make  Uptrennd’s biggest competitors, 
such transactions immutable after their  Steemit (STEEM) and Hive (HIVE), 
addition to chain. Uptrennd plans to  currently have larger user-bases, 
address the risk of payments for these  market capitalizations, and token 
fraudulent interactions by having a  transaction volumes. In order to remain 
review period to verify transactions  competitive and ultimately usurp them, 
before adding them to the chain.  Uptrennd will need to continue 
  growing its user-base and iterating its 
2. User abuse/manipulation of  platform. 
point system   
   
Perhaps one of the biggest risks facing  Management, Team,  
Uptrennd currently is user abuse and 
& Partnerships 
manipulation of the point system. Users 
engage in schemes to earn points such 
 
Uptrennd is headed by founder and 
as colluding to exchange upvotes and 
CEO Jeff Kirdeikis, a driven and 
reposts, creating multiple accounts for 
passionate entrepreneur who 
increased earnings, copying others’ 
previously founded and manages the 
comments, creating automated 
Cryptocurrency Investing Network (CI 
account login bots to collect login 
Network); one of the world’s largest 
bonuses, and other such fraudulent 
cryptocurrency communities with over 
activities. Currently, this risk is managed 
1.6 million members. The rest of the 
via community moderation and manual 
management team also consists of 
identification of such activity by the 
dedicated and passionate 
Uptrennd team, though Uptrennd has 
entrepreneurs with backgrounds 
made it a priority to develop a robust 
including sales, marketing, product 
automated system to flag abnormal, 
design, among others. The Uptrennd 
potentially fraudulent activity in the 
team has primarily been assembled 
near future.  

June 18th, 2020  Global Digital Assets | gda.capital ​7 

  
 
through the CI Network as well as 
management’s mutual connections, 
and management is looking to use 
AngelList, job boards, and similar 
channels to expand the team in the 
future. Uptrennd’s management seems 
to foster a culture of intrapreneurship, 
resulting in a team of 
intrinsically-motivated, dedicated, 
self-starters that seems to have led to 
one of the fastest growing 
blockchain-based social media 
networks.  
 
Aside from its recent partnership with 
GDA Capital, one of Uptrennd’s major 
partners is renowned blockchain 
accelerator, M​ ousebelt​. This partnership 
has allowed Uptrennd to accelerate its 
growth by tapping into a pool of 
world-class software developers, 
business consultants, founders, 
knowledge, capital, and networking 
connections. 
 
 
Disclosure 
This research is for informational use 
only. This is not investment advice. 
Other than disclosures relating to GDA 
Capital, this research is based on 
current information that we consider 
reliable, but we do not represent it as 
accurate or complete, and it should not 
be relied on as such. The information, 
opinions, estimates, and forecasts 
contained herein are as of ​June 4th, 
2020​ and are subject to change 
without prior notification. We seek to 
update our research as appropriate. A 
minority stake of GDA Capital’s assets 
under management (AUM) is in 1UP 
tokens.  

June 18th, 2020  Global Digital Assets | gda.capital ​8