Coinme is building a larger encrypted ATM network. As the only licensed Bitcoin ATM company in the United States, Coinme's proven track record and people-first approach has brought thousands of fresh faces to this growing community. This is truly a unique partnership. Coinme will reward customers with UpTokens (digital "1% cashback") when they use Coinme ATMs. Coinme will purchase UpToken rewards from the crypto community.

Project Application

UpToken is a reward for our ATM customers. Coinme uses 1% of every ATM transaction to buy UpToken, which is given to customers as a 1% "cashback" incentive. Customers can use their UpToken to get a 30% discount on ATM fees by making payments with UpToken. However, the UpToken rewarded to ATM users by using the ATM is not withdrawable until the ATM amount of that user reaches $10,000.

Also, Coinme will hold regular auctions to determine which cryptocurrencies should be added to Coinme ATMs (currently Coinme only supports Bitcoin, and Ethereum will be added soon). These auctions will require UpToken participation. We don't distinguish which protocol will win in the end - we want to have a large ATM network to support the big coins of the future, and the promoters of such coins will need UpToken to secure their place on our network. These auctions will be held as frequently as possible to provide maximum benefit to the UpToken community and ATM customers. We plan to hold the first auction right after the token sale (once we have sent the UpTokens).
(The above information is from the official website of UpToken)

Related Links:

https://uptoken.org/faqs/