UTRUST

[alphashotgun]

I was suspicious to this project and all the changes make me think i was right to put no money

good for you. unfortunaly i did.

uShouldDon'tTrust team

at least tokens were burned so you got a bigger part of the market

[Piggy]

It seems they are going to lock the token of the investors who participated during the presale, those who bought at 0.02 and 0.03 dollars, this will mean no dump hopefully 

[levyashin]

ICO extended till 20-Nov

Dear Community,
 

Let us begin by saying that we truly appreciate our Member’s and Investor’s loyalty, support and engagement – without you, none of this would be possible. Thank you for being awesome! 🙏

 

When we first idealised UTRUST, our vision was to create a borderless payment platform that would allow people from all over the World to perform day-to-day crypto-transactions in a simple and effortless manner. 

 

Today, we are proud to announce that we have taken several important steps that will ensure the UTRUST vision does indeed become a reality for all of us. After analyzing our ICO, it is quite clear that our timing has not been ideal, particularly given the current market conditions.

 
That being said, we have gone back to the drawing board, sat down with our Team and Advisors and decided to implement some major improvements.

 
So, without further ado...

 
Team Tokens — REDUCED  ✅
We are changing the amount of tokens that UTRUST will hold from 100 million to only 50 million. The newly released tokens will be added back into the total supply for everybody to purchase during our ICO.
 

Smart Contract — AUDITED  ✅
Today we are releasing an independent review of our smart contract by Positive.com. We are proud to say that they gave it their approval and that it will be deployed shortly. You will be able to use the contract shortly after the ICO ends and when your KYC is complete.
 

Private Investors — VESTED  ✅
We talked to our private investors to negotiate a minimum vesting period of 12 months. This is great news as it means that another 100 million tokens cannot be withdrawn or sold for a full year.
 

500 Million Tokens — BURNED  ✅
We made the decision to burn 50% of all tokens today, prior to the end of our ICO, permanently reducing the total maximum supply by half. We now have a very limited number of tokens available for sale.
 

Public ICO — EXTENDED  ✅
Since all these structural changes will result in an improved value proposition, we would like to give everyone a fair chance to participate in our ICO. As a result, we have extended our ICO to end on 20 November 2017 at 2 PM UTC.


This decision was not taken lightly and also reflects the feedback we have received from many of you advocating for more favourable market conditions in order to participate in our ICO. With the latest news regarding the cancellation of the SegWit2x fork, we believe this is a unique opportunity to be part of this online payments revolution — join the future with UTRUST!
 

All the best,

Your UTRUST Team

Well I guess it is not all bad news. They burned 50% of all tokens, so our tokens will probably be worth more, hopefully.

Besides they will keep 50 million instead of 100 million which is better.

Extension of the ico is also logical, i wrote this in here before. 1 week was too short for an ico also now fork get cancelled, it will reach their new hard cap easily.

[Partizant]

This is a good thing

    Team Tokens — REDUCED  
    Smart Contract — AUDITED
    Private Investors — VESTED  
    500 Million Tokens — BURNED

---------------------------

So how much does Utrust finally want to raise money? $21.375.000?
275M (ICO) - $17.875.000
150M (Pre-ICO, investors) - $3.500.000
75M (bounty, marketing, team) - not for sale

With 21M market cap, the token price should triple easily.

[traveler007]

Yestarday total tokens sold was 435 millions and today 415 millions? Show your adress with tokens 

[Yasemin]

This is a good thing

    Team Tokens — REDUCED  
    Smart Contract — AUDITED
    Private Investors — VESTED  
    500 Million Tokens — BURNED

---------------------------

So how much does Utrust finally want to raise money? $21.375.000?
275M (ICO) - $17.875.000
150M (Pre-ICO, investors) - $3.500.000
75M (bounty, marketing, team) - not for sale

With 21M market cap, the token price should triple easily.

I understand the first shock that is hitting everybody, but if you take a moment and think about it, this is also good news. 1 week was short for an ICO

[Partizant]

Yestarday total tokens sold was 435 millions and today 415 millions? Show your adress with tokens  

These are not only sold tokens. These are tokens for distribution. Their number also included the team's tokens.

[Adya]

I was suspicious to this project and all the changes make me think i was right to put no money

good for you. unfortunaly i did.

uShouldDon'tTrust team

at least tokens were burned so you got a bigger part of the market

for me first of all can i trust to people or not, then how much money i can rich with them.
and now it is possibly price will low.

[mrsaint]

Yestarday total tokens sold was 435 millions and today 415 millions? Show your adress with tokens 

Yeah, it's been like this on their website all the time. Up and then down again.

[Jay2408]

This is a good thing

    Team Tokens — REDUCED  
    Smart Contract — AUDITED
    Private Investors — VESTED  
    500 Million Tokens — BURNED

---------------------------

So how much does Utrust finally want to raise money? $21.375.000?
275M (ICO) - $17.875.000
150M (Pre-ICO, investors) - $3.500.000
75M (bounty, marketing, team) - not for sale

With 21M market cap, the token price should triple easily.

I understand the first shock that is hitting everybody, but if you take a moment and think about it, this is also good news. 1 week was short for an ICO

I actually don't like when ICOs are extended but thankfully UTRUST has taken some actions, like burning half of token supply, reducing team tokens + vesting period for private investors, that the extension might not be bad at all.

[Piggy]

This is a good thing

    Team Tokens — REDUCED  
    Smart Contract — AUDITED
    Private Investors — VESTED  
    500 Million Tokens — BURNED

---------------------------

So how much does Utrust finally want to raise money? $21.375.000?
275M (ICO) - $17.875.000
150M (Pre-ICO, investors) - $3.500.000
75M (bounty, marketing, team) - not for sale

With 21M market cap, the token price should triple easily.

I understand the first shock that is hitting everybody, but if you take a moment and think about it, this is also good news. 1 week was short for an ICO

I actually don't like when ICOs are extended but thankfully UTRUST has taken some actions, like burning half of token supply, reducing team tokens + vesting period for private investors, that the extension might not be bad at all.

i agree with you in every point i think they acted quite well and in the interest of the investors.

[Elkmar]

it's not good for investor if expand ICO , i think UTRUST already very great now.

They do not seem to plan this no ?

[Gwyn]

signature 400 participants
twitter 2500 participants
facebook 1400 participants.
3 months passed. same pool. or maybe it will 1/2
11 more days, wich not expect no one exept devs.
cheap words "The 50m "extra" tokens come from the dev team blablabla" without proof. and thye say it just now, not earlier.
non investors non bounters have no respect here.
this guys are impressive

i support you , this is a big question , will hurt bounty hunter, hope UTRUST official will do something .

[Kakumei]

There is nothing good for investors! I cant trust gready people, who change rules in last moment! You must go to schedule!

The newly released tokens will be added back into the total supply for everybody to purchase during our ICO.

You can create unlimited tokens? wtf?  
How many tokens you created for himself in fact?

You must be new here. We cannot change the smart contract once it is deployed. The contract will create 1 billion tokens and burn (with proof) one half of it.

Kakumei

What with our 50 mln tokens for bounty? We working for you few month.

If you followed the market and our ICO, it was clear that if we ended our ICO today, we would never have distributed and 1 billion tokens and therefore bounty was never going to be 50 million. So absolutely nothing changes for bounty hunters and we will be true to our words. The bounty thread clearly states: "5% of all distributed tokens".

First of all, as I stated above I am not conform with the extention but please guys, before you start fudding or whatever, just read the announcement first carefully. There are no tokens which could be made out of air. The 50m "extra" tokens come from the dev team which had 100,000,000 before and now just 50,000,000 token. The other 50,000,000 are now open for sale.

Beside that, could you please discuss the bounty stuff in the bounty thread? It's there for this.

Thank you  for your support!

So and extension and a lowering of total number of tokens. I guess this will impact the bounty hunters the most.
For the investors, lowering the amount of tokens is good news, as they will be worth more in the long run when the product is released.

It doesn't affect bounties at all, we would never have allocated 1 billion tokens and bounty is not fixed, but a 5% of all tokens. Nothing at all changes.

This is a good thing

    Team Tokens — REDUCED  
    Smart Contract — AUDITED
    Private Investors — VESTED  
    500 Million Tokens — BURNED

---------------------------

So how much does Utrust finally want to raise money? $21.375.000?
275M (ICO) - $17.875.000
150M (Pre-ICO, investors) - $3.500.000
75M (bounty, marketing, team) - not for sale

With 21M market cap, the token price should triple easily.

I understand the first shock that is hitting everybody, but if you take a moment and think about it, this is also good news. 1 week was short for an ICO

I actually don't like when ICOs are extended but thankfully UTRUST has taken some actions, like burning half of token supply, reducing team tokens + vesting period for private investors, that the extension might not be bad at all.

Thanks! We really tried hard and thought a lot about what we can do to prove that we are extending for the right reasons. Cutting OUR tokens in half, burning 500 million tokens and vesting private investors (even though some people here say they don't care about them) is great news for all investors.

In the end, and this is a big deal for us, UTRUST is absolutely not about the ICO. We appreciate and love our community, the trust you have given us and the funds you provide to build the online payments revolution. But UTRUST is about the platform, not about the ICO. We are super excited to finally start focussing on the platform, and the changes we implemented last night go a long way in helping us do just that.

I hope that, over time, people will understand that what we did had nothing to do with greed (since we halved our own tokens as well), but instead was what we thought was best for the platform.

[traveler007]

And you lost all your trust in one day. Extented ICO show, that you very greedy and don't value investors!

[Bambulee]

50 million supply is much better. Thanks UTRUST i like 

[janggernaut]

50 million supply is much better. Thanks UTRUST i like 

It's impossible because 420 million tokens have been sold to investors. They decided to burn 500 million tokens which the result their total supply only 500 million tokens

[martinholly167]

it's not good for investor if expand ICO , i think UTRUST already very great now.

They do not seem to plan this no ?

It seems like they have thought about this earlier, this is from the whitepaper that i downloaded long time ago.

During the round, the tokens are distributed in a first-come-first-served basis and only the tokens sold on each round will be created and issued (for example, if only 50% of the tokens are sold in 7 days, then only 500 million tokens will be generated, thereby decreasing the total token pool from 1 billion to 500 million).

[mrsaint]

Isn't it ironic when they say that utrust is not about the ICO, yet literally every single e-mail and press release speaks exclusively of the ICO? Meanwhile, how much did they talk (and show) about their product and development besides spreading thin air?

So they decided to extend the ICO - even though they stated previously with a lot of furor that by having reached the softcap they gained "technical and operational viability" with a "solid foundation to work from".

[o48o]

it's not good for investor if expand ICO , i think UTRUST already very great now.

They do not seem to plan this no ?

It seems like they have thought about this earlier, this is from the whitepaper that i downloaded long time ago.

During the round, the tokens are distributed in a first-come-first-served basis and only the tokens sold on each round will be created and issued (for example, if only 50% of the tokens are sold in 7 days, then only 500 million tokens will be generated, thereby decreasing the total token pool from 1 billion to 500 million).

Good point... I also don't understand what's with all the drama. It's not the first time an ICO got extended.

I understand that extending will affect mostly to bounty hunters feelings, and you shouldn't irritate people who got lots of free time and are getting paid to write in bitcointalk. But then again, this is not the first time they have to deal with extented icos.