Karate Combat is planning to launch a Layer2 network UP and Token UP based on Hedera next year

On October 11th, it was announced that the karate league brand Karate Combat will launch the UP network on the Hedera Layer2 network in the first quarter of 2025. Karate Combat will enable the league to license its 'Up Only Gaming' technology stack to other sports projects, leagues, and initiatives, including even Meme coin. The co-founder of Karate Combat stated that there are currently 20 to 30 projects that will be launched on the upcoming Layer 2 network of the company. UP plans to launch a Token next year, part of its total supply will be allocated to a grant program aimed at helping early builders of the network. In addition, 30% of the total supply of UP Token will be allocated to flow back into the Wallet of KARATE Tokenholder. The specific operation is yet to be determined.