# $UP

## Introduction

UP is the token representing ownership over Superform; staking it yields sUP which confers voting power over SuperVault parameters, SuperAsset weights, and ability to set economic configuration.

There is only one UP token, deployed on Ethereum mainnet at [`0x1d926bbe67425c9f507b9a0e8030eedc7880bf33`](https://etherscan.io/token/0x1d926bbe67425c9f507b9a0e8030eedc7880bf33) .

## Phases

| Phase | Milestone                  | New $UP utility                                          |
| ----- | -------------------------- | -------------------------------------------------------- |
| 0     | Open Access                | Initial set of governance votes for protocol params      |
| **1** | SuperVault launch          | Strategist upkeep burns; validator‑secured PPS           |
| 2     | Validator decentralization | Bond $UP to join sets with slashing                      |
| 3     | SuperAsset launch          | Voting on SuperAsset composition                         |
| 4     | Bundler decentralization   | Bundlers may bond $UP in a similar fashion to validators |

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