From the included ReadMe File: Look ma, no Downgrade Dongle v0.2
In keeping with our Red Valentines theme this month... we release another red themed app. Tonight, in our second release we bring you a second handy app that continues our commitment to the removal or the need for ANY dongles. A simple app that should likely make it into everyone's PS3 tool set. An XMB application that places the PS3 into factory service mode. Now, You can now throw away that downgrade dongle! Also, as an added bonus we've included CEX and DEX versions of the pkg.
Psgrade was ported to all sorts of devices, even calculators ... none of those external devices are needed any longer! You may now re-purpose them!
When you run the app it will beep once and reboot if successful. Three beeps indicates...