UTRUST new ICO structure
UTRUST, the cryptocurrency payment platform that is bringing Protection for Crypto Currency, has recently announced some changes in its upcoming token launch. Despite the recent news and warnings coming from regulatory authorities like the SEC and others, UTRUST is set on launching its funding campaign and to bring safe cryptocurrency transactions to the world of online commerce once and for all.
The new ICO date will be announced during the first week of October and some key changes have been made to the ICO, which was planned to take course over a 7-round period in which the price would gradually increase. Instead the ICO will last for 7 days and have a fixed price. The recent blog post by the team reads:
“After careful consideration, we will no longer offer 7 rounds with different pricing levels. Instead, we will only offer 1 investment round at a fixed price of $0.065 per UTRUST token. A maximum of 50 Million U.S. Dollars will be collected over a maximum of 7 days, making this model end much faster than the original structure.”
Although the bonus structure is no longer in place, early supporters who have participated in the pre-sale or who have created their account during that time are entitled to a 20% bonus for purchases up to $10,000. With these changes, UTRUST hopes to create a transparent distribution that is fair both to early supporters and ICO participants.
What is UTRUST and UTK
Although the advantages provided by Bitcoin and Cryptocurrency Technologies are evident, they are completely worthless if they cannot be taken advantage of with full security. UTRUST is an ambitious project that wants to make cryptocurrency payments safe and a commonplace reality. To do so, UTRUST is building the first-ever crypto payment platform with a built-in client protection and dispute resolution mechanism, ensuring that anyone can purchase easily and safely on online stores that accept bitcoin.
UTRUST will allow users to pay for items or services online with any cryptocurrency like BTC or ETH, allowing them to avoid unnecessary cryptocurrency exchange rates. The funds are then allocated and held until the client confirms that he has received the item purchased. The transaction is then completed and the merchant receives his payment in fiat, allowing him to be protected from volatile cryptocurrency exchange rates.
The platform also features its own token, the UTK, which allows its holders to use the platform without fees. The UTK is an Ethereum-based token that runs on a buy-back and burn campaign which sees part of the revenue generated by the platform used to buy back tokens and burn them, making UTK a deflationary currency.
To learn more about UTRUST, be sure to visit the official website and to read the whitepaper. In order to keep up with the recent events, watch the recent video AMA (Ask me anything) with Nuno Correia, the CEO of UTRUST.