U Network to Buy Own Tokens

The company launched the BuyBack program in an attempt to redeem the tokens from early investors to support own ecosystem
23 July 2018   721

The increased interest of investors for U Network ICO led to the fact that the developers did not have their own UUU token to maintain the ecosystem. The company launched the BuyBack program in an attempt to redeem the tokens from early investors who received them in February via AirDrop, CoinDesk reports.

According to available information, the project will acquire UUU tokens per thousand Ethereum in several stages. So, on the first of them 200 ETH will be spent on the purchase, the price of the token will be from $ 0.004 to $ 0.005.

It should be noted that at the start-up phase, the issue of tokens was limited to 10 billion.

I think this case illustrates the huge trade-offs founders face. If they keep too many tokens in reserve, they are often accused of being greedy. But if they give away too many tokens then they lose a crucial lever they need to incentivize people to use their platform or service in the future.

Catherine Tucker 

Professor of management and marketing, Massachusetts Institute of Technology

According to Catherine Tucker, professor of management and marketing at Massachusetts Institute of Technology, the situation with U Network proves that startups do not have a specific methodology for calculating the required number of tokens.

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Pantera Capital to Intend to Raise $175M for Crypto Fund

Whether the firm can achieve its funding goal is still unclear
16 August 2018   167

Pantera Capital intends to raise up to $ 175 million for its third venture fund, focused on the blockchain and cryptocurrencies, which marks significant progress against the background of the company's other two funds: the assets of the first of them are $ 13 million, the second - $ 25 million. This is reported by TechCrunch.

As reported, company's partner Paul Veradittakit says the target amount is a “function of how fast the space is moving, the talent coming in, the opportunities, and the sizing of rounds. With more interesting later-stage investments [on our radar], too, we want to be flexible and able to move with the market.”

Whether the firm can achieve its funding goal is still unclear. According to documents recently sent to the US Securities and Exchange Commission (SEC), it has already managed to raise more than $ 71 million with the participation of 90 investors. Veradittakit calls this event "the closing of the first transaction".

One of the company's new funds, which opened last year, has a hedge fund structure and focuses exclusively on the ICO. The founder of the company Dan Morehead said earlier that Pantera takes part in the first stages of such campaigns, "basically getting a discount to the ICO price by getting in early, when it’s just a team and a white paper."

The second fund of the company is engaged in investing in bitcoin and has managed to serve a large number of investors during its existence. According to Morhed's calculations, the fund, launched 5 years ago, demonstrated a return of 10 136%.

The last fund Pantera invests in cryptocurrencies, which are already traded on the exchanges. It uses machine learning for algorithmic investment and takes into account the views of the company's management when making investment decisions.