Utrum to hold an ICO

Utrum platform is launching a token sale on April 24 with the distribution of a hack-proof token on Komodo platform
02 April 2018   557

Project Utrum has announced it is holding an ICO on April 24. The token sale is set to use atomic swaps with a hack-proof token based on Komodo platform. Komodo was chosen for providing an independent blockchain; Bitcoin level of security with dPoW mechanism; Utrum native token OOT will be integrated into Komodo wallet Agama and Barterdex exchange (allows users to trade OOT with other coins by utilizing atomic swaps). The ICO will take place on Komodo AtomicDex Exchange App (much like ShapeShift using Electrum servers). Such approach will ensure the ICO will be completely decentralized without any point of failure.

Total supply is set to 216,000,000 units (23% of it will be distributed during the ICO) with a soft cap at $1 mln and a hard cap at $5 mln. Exchange rate is set at 1 OOT = 0.12 USD. A Komodo bonus (in case of using KMD to buy OOT) is set at 30% with a referral bonus at 5%. Accepted currencies include Komodo, Bitcoin, Bitcoin Cash, Z-cash, Dash, Litecoin.

Pre-ICO period will take place from April 24 to May 10. Main ICO will be on May 20 (without bonuses). The operational reserve tokens are to be locked for 2 years, platform contributors tokens will be released based on the content and team tokens are locked for a time period and released by 5% annually. According to the project roadmap, exchange listing follows the ICO.

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CFTC to Issue ICO Investor Advisory

Before buying coins, you need to thoroughly study their nature and understand what factors can affect their price, CFTC advises 
17 July 2018   116

The US Commodity Futures Trading Commission (CFTC) published a document with recommendations for potential investors in ICO projects and token buyers. This is reported by Coindesk.

The agency's document says that before buying coins, you need to thoroughly study their nature and understand what factors can affect their price.

Also, a potential buyer should remember that, depending on the structuring, some tokens can be derivatives, commodities or securities.

Buying digital coins or tokens only because you expect to sell them at a higher price later is the definition of speculation and carries considerable risk, regardless of how good a white paper, application or business plan sounds. Unfortunately, fraud is another significant risk to consider. Your best protection is to thoroughly research digital coins or tokens and exercise caution. 
 

CFTC ICO Advisory

The guide also states that before investing in the ICO, it is necessary to find information about the organizers of the project, and also to find out whether they themselves participate in their  ICO.

Representatives of the agency also refer to the study, according to which more than 50% of ICO start-ups ceased to exist during the first four months after the end of the token.