The UTU Crowdsale begins on 14 October

The UTU Crowdsale begins on 14 October

Rahul Srivatsa - Token Sale Manager

The Crowdsale details are finally here. We have decided after much deliberation and feedback from the community to have our Crowdsale on the 14th of October (Only 6 more days)!!! We have announced some big partnerships over the past few weeks that have really boosted our community presence, we feel it is the right time. We even hit the 5000 mark on our twitter channel. Now for the more important details...

The Crowd Sale format:

As described earlier, we wanted to ensure that the crowd sale has a better chance to let many people participate fairly. However, our last announcement did not specify the mechanism clearly. We have received a lot of feedback and suggestions from the community on how the format of the sale might be changed. Many of you suggested that the 500 USDT max for allocation was too small. After having run some numbers, we have decided to increase the max allocation to 1,242 USDT. This also means there there is technically only spots for 201 people. So get in the queue quick!!

Moreover, the Crowdsale will take place in 3 stages:

  1. First Stage: In the first hour of the Crowdsale, we will only accept a maximum of 1,242 USDT per participant on a FCFS basis.
  2. Second Stage: After the first hour, we will begin accepting participants with NO MAX LIMITS.
  3. Third Stage: Uniswap to take place immediately after the Crowdsale

We believe this will allow community to participate on a larger scale while catering to the needs of different kinds of participants!

How to participate in the crowd sale?

The crowd sale requires KYC, to be done here:

To then participate in the Crowd Sale, wait for an email with the link to open our DApp (see section Crowd Sale above), and then follow instructions in the DApp to send USDT when the Crowd Sale starts on 14.10.2020 at 08:00am EAT.

*New locations added

We received lots of interest from the Thai Crypto community, spoke to many community members and realized that there was a possibility to include Thailand nationals. After conducting significant due diligence with our legal team, we have determined that Thailand nationals and residents will be allowed to participate in our Crowdsale.

KYCed crowd sale mechanism

The Crowd Sale will now happen on 14.10.2020 08:00am EAT, run for 48 hours, and proceed as follows:

  1. Every participant will need to complete KYC, either before the sale starts or before the next steps (if the crowd sale already started).
  2. We will send an email with a link that allows the participant to open a DApp that we provide for this purpose. The link contains a signature.
  3. The participant can use the DApp to send an allowed amount, i.e. between 200 and 1,242 USDT, to a smart contract that we provide for this purpose. This transaction will have  the signature obtained in the previous step. The contract will verify the signature and only accept correctly signed transactions. This ensures that only transactions from people who did KYC are accepted.
  4. When the total allotted amount for the round has been sent, no more transactions will be accepted by the contract. This means that it’s a first-come, first-served mechanism based on the transaction time (block) of USDT to the contract. Therefore, to be sure to be able to get in this round, participants should finish their KYC well beforehand.
  5. After the Crowd Sale finishes, we deploy UTU Coin with pre-allocated amounts according to participation in the sales.

Note: do not send USDT directly to the Crowd Sale contract!

How did the rest of our rounds go?

Private Sale 1: Sold Out

Private Sale 2: Sold Out

Presale Sale 1: Sold Out

Presale Sale 2: Sold Out

Presale Sale 3: Sold Out

What is the percentage of tokens on the market in circulation after the Token sale?

The token supply on the day 1 of listing would be 20,454,545. The tokens sold on private sale 1, private 2 and KYC'ed crowd sale will be unlocked.

Who is subject to a lock-up period?

Tokens purchased in presale 1, presale 2, presale 3, Team and advisors, Growth round and Ecosystem funds. Please find the details in the table below:

Our Partnerships

Our Community

We would be nowhere without the support and belief of our community and for that we thank each and everyone of you! Participants in our private and presales, TG and Twitter community, as well as believers of UTU trust in general! We are proud to have such a large family and will keep building it.

About UTU

At UTU we believe in a more human-friendly internet. We are pioneering digital models of decentralized trust built around human beings and how we naturally trust. UTU’s vision is to become the trust infrastructure of the entire internet, replacing anonymous star ratings, reviews, and scores as the de facto trust mechanisms of our digital lives. We do this in service of our Mission — To bridge the gap between how we trust in real life and how we are asked to trust online — to make the internet a safer, more trusted place to gather, share, work, and trade.

UTU is kiswahili for “Humanity.” It reminds us of our home in Kenya and for whom we build this project. We currently have a team of 40 at our HQ in Nairobi and R&D collaborations with the Agents, Interactions, and Complexity Group at the University of Southampton in the UK as well as the newly established UKRI Trusted Autonomous Systems Hub.

UTU and our subsidiaries have been featured variously in international media, including Pitchbook, NPR, TechCrunch, Analytics India, Aithority, Disrupt Africa, How We Made it in Africa, and others. We won the 2019 East Africa Regional Championship of the Pegasus Tech Ventures Startup World Cup and have been named a 2020 Hello Tomorrow Deep Tech Pioneer.

Check us out on the Web, Twitter, and join us on Telegram in decentralizing the future of digital trust.