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   870

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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Bermuda to Issue First ICO License

The first 'official' ICO that will be held at Bermuda is Uulala
19 October 2018   49

Bermuda’s Minister of National Security, Wayne Caines, said that the Uulala fintech company received the first ICO license in the region. It is reported by the Royal Gazette.

In July, the Secretary of the Treasury of the Overseas Territory of Great Britain, David Bert, introduced new regulations for fintech products and services. The bill classifies initial coin offers (ICO) as “limited business activities”.

The draft law also states that before holding a tokensals, companies must provide information about the proposed digital assets, the financing system, the amount to be raised and various technical aspects. In addition, you must obtain consent from the Minister of Finance of the region.

The CEO of Uulala, Oscar Garcia, reported that the process of obtaining a license took four months. Fintech offers a decentralized peer-to-peer network “to attract cash into the digital economy.” During the ICO, Uulala plans to raise $ 50 million.

We are looking at operating from Bermuda. The Bacardi story resonated with us — a group of Cuban Latinos who went to Bermuda and established their headquarters there. We are looking at doing something similar. Bermuda is known as a financial hub and it is very forward-thinking on blockchain and fintech.
 

Oscar Garcia

CEO, Uulala

The government of Bermuda began to develop bills for the legalization of the ICO in March. Then David Bert said that Bermuda could be an example for other countries in the field of ICO regulation.