Publish on 2019-07-31
What is UltrAlpha Token (UAT)
The native digital cryptographically-secured utility token of the UAT platform (UAT) is a transferable representation of attributed functions specified in the protocol/code of the UAT platform, designed to play a major role in the functioning of the ecosystem on the UAT platform, and intended to be used solely as the primary utility token on the platform.
The UAT issued and sold in connection with the token sale are being created as ERC20 compliant tokens on the Ethereum protocol.
UAT is a non-refundable functional utility token which will be used as the payment medium of service exchange between participants on the UAT platform. The goal of introducing UAT is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on the UAT platform. UAT does not in any way represent any shareholding, participation, right, title, or interest in the Foundation, the Distributor, its affiliates, or any other company, enterprise or undertaking, nor will UAT entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any relevant jurisdiction. UAT may only be utilised on the UAT platform, and ownership of UAT carries no rights, express or implied, other than the right to use UAT as a means to enable usage of and interaction within the UAT platform.
UAT provides the economic incentives which will be distributed to encourage users to participate in the ecosystem on the UAT platform. UAT is an integral and indispensable part of the UAT platform, because without UAT, there would be no incentive for users to participate in activities on the UAT platform. Users of the UAT platform and/or holders of UAT which did not actively participate will not receive any UAT incentives.
The limit of 500 million UAT is strictly imposed without any further increase.
UAT are designed to be consumed/utilised, and that is the goal of the UAT token sale.
· 40% of total issuance is set aside for presales - private sales and public sales
· 40% to be released and distributed daily to encourage users to participate in the ecosystem on the UAT platform.
· 20% for team
The contributions in the token sale will be held by the Distributor (or its affiliate) after the token sale, and contributors will have no economic or legal right over or beneficial interest in these contributions or the assets of that entity after the token sale. To the extent a secondary market or exchange for trading UAT does develop, it would be run and operated wholly independently of the Foundation, the Distributor, the sale of UAT and the UAT platform.
Unlock and Release Mechanism
10% of private sale and 50% of public sales (in total approximation of 30m UAT) will be unlocked and released on the first day when UAT is listed on the digital asset trading platform / exchange.
Every time when UAT is listed on a certified top-tier exchange or trading platform, 5% of presale portion (10 million UAT) will be subsequently unlocked and released.
Unlock and Release Schedule
Unlock and release schedule is based on the user's rate of participation in the UAT platform. For every UAT mined, one UAT will released and unlocked from presale portion and half UAT from team portion.
UAT Holder Rights and Ecosystem
By purchasing various investment products available on the UltrAlpha platform, users would be incentivised with the proportionate number of UAT tokens (i.e. "mining" on the UAT platform).
Utilization of UAT
Service fees: Investors can utilize UAT token as the platform currency to pay for all services on the UAT platform, for example inquiry, transfer, redemption, purchase and other administrative operational services. All UAT paid to the platform as payment for services will be deposited in for payment will be subject to permanent lock-up.
Loyalty rewards: As part of the loyalty reward, if users carry out a certain volume of transactions, they would be entitled to certain rebates of transaction fees (to be paid in UAT).
Ecosystem development: In order to promote long term development of the UAT platform, all third-party service providers on the UAT platform would be required to set aside 10% of earnings to promote ecosystem participation.
Pledge: there would also be various applications in which an amount of UAT, as the native platform currency, would be required to be locked-up and set aside in order to indicate level of commitment of the initiator, before the initiator will be allowed to carry out the specified function.
Total Amount： 500,000,000
Circulation：30,000,000（To be ended on Aug 15th）