Deposits / Withdrawals & Other Comms
NEWS | UltrAlpha Announcement of Permanent Lock-up of 150 Million UAT (30% of Total Supply)
Publish on 2019-08-22
Dear UltrAlpha Users,
In order to support long-term development of the UAT service platform, UltrAlpha (UAT) announces permanent lock-up of 150 million UAT tokens (30% of total supply) from the pending release portion per following schedule.
- 30 million UAT from pending mining portion and 15 million UAT from team portion will be permanently locked up. The release ratio among mining: presale: team will remain 1:1:0.5.
- Per discussion, UltrAlpha's strategic investors will permanently lock up 42 million UAT from presale portion in support of the project. In addition, 21 million UAT from team portion and 42 million UAT from pending mining portion will be subject to permanent lock-up.
Therefore, total supply of UAT will be reduced from 500 million to 350 million with the permanent lock-up of 150 million tokens per following break-down:
- 72 million from pending mining portion
- 42 million from presale portion
- 36 million from team portion
The remaining pending release tokens will be unlocked and released per following schedule.
- For every UAT mined, one UAT will be released and unlocked from presale portion and half UAT from team portion.
- Every time when UAT is listed on a certified top-tier exchange or trading platform, 5% of presale portion (approximate 10 million UAT) will be subsequently unlocked and released.
Following the release ratio, respective tokens from pending mining portion and team portion will be subject to permanent lock-up.
UAT Permanent Lock-up Address: 0x14beb25abe23e90c46eb1cc206eee99ed92a1f42
Aug 22nd, 2019
Telegram Group: https://t.me/UltrAlphaInternationalOfficial
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