Bitcoin Forum

Hello everyone!

Thanks for joining in with us.
UmaChitFund is a blockchain based digital chit fund company established in 2019.

With UCF we provide various benefits to the holders which includes lowest interest rate borrowings, joining of various chit rounds, gaining profits for locked capital in the chit rounds and much more.

Chit funds are a rotating savings & borrowing scheme which is a part of India's financial system for more than a century. Registered chit industries allow you to save a part of your income and borrow pre-saved funds for times in need.

Visit our website for more info: https://umachit.fund

Join the whitelist to participate in the private sale to avail 15% bonuses!

Whitelist: https://umachit.fund/whitelist/

Follow us on social media:

Facebook: https://facebook.com/umachitfund
Instagram: https://www.instagram.com/umachitfund/
Twitter: https://twitter.com/umachitfund
Telegram: https://t.me/umachitfund
Reddit: https://www.reddit.com/r/UmaChitFund
Steemit: https://steemit.com/@umachitfund
LinkedIn: https://www.linkedin.com/company/umachitfund


CoinMarketCap: https://coinmarketcap.com/currencies/uma-chit-fund/
CoinCodex(coin): https://coincodex.com/crypto/uma-chit-fund/
CoinCodex(ICO): https://coincodex.com/ico/uma-chit-fund/
Nomics: https://nomics.com/assets/ucf-uma-chit-fund
Coinpaprika: https://coinpaprika.com/coin/ucf-umachitfund/
ICOholder: https://icoholder.com/en/uma-chit-fund-1006380


Exchange: https://tokpie.com/view_exchange/UCF-USDT/ (experimental)

Announcement thread: https://bitcointalk.org/index.php?topic=5367043.0

Bounty thread: https://bitcointalk.org/index.php?topic=5367109.0

ICOlink: https://icolink.com/ico-uma-chit-fund.html
Tokpie Article: https://tokpie.io/blog/uma-chit-fund-token/

Token details:
Total amount: 1,000,000,000
Private sale soft cap: $50,000
Private sale hard cap: $5,00,000
Public sale soft cap: $1,00,000
Public sale hard cap: $10,00,000
Token price: $0.1

Is the total token supply 1.000.000.000 ? if private sale is 10%, then the token for private sale should be 100.000.000 right?
Also the site will have some update right? Since I see some of the FAQ that's not get answered yet.

I also see the different information about token details on website if compare to what written in the whitepaper.

https://i.postimg.cc/Wp9tkC8X/Untitled.jpg
https://umachit.fund/wp-content/uploads/2021/09/Whitepaper-v1.pdf

Yes, for the wesbite it is been updated so FAQ section has not fully been added yet. It should be added within 24-48 hours.

The whitepaper V1.0 is the initial copy of our whitepaper.
Whitepaper V1.1 should be released soon with all major updates.

Yes the total token supply is 1,000,000,000 UCF but the team has decided to sell 5,000,000 in the private sale.

Since FAQ is useful for resolving some of the confusion that readers and investors encounter, it would be great if it was updated as soon as possible.
Okay, that explains everything, so in fact the current whitepaper is just the "initial" version, I'm waiting for the best version to read again.

So, that's the team's decision, yes there must have been good planning behind all of this. What bothers me is the typo in the number writing, the wrong " , " sign.

Does the Umachit team only consist of 2 people? In addition, team information has not been linked to social media accounts.
The UCF token built on the Ethereum network. The Ethereum network is good but the transaction fees are quite expensive. Have you considered it?

UCF would be traded on Tokpie Exchange for the pair UCF/USDT and trading starts on Oct 30, 14.00 UTC
https://twitter.com/UmaChitFund/status/1453652989843963910

@Rohan Kotkar  Is this true?
Why is there no official announcement from Tokpie? did I miss it?

The total supply is 1Bn. (Not sure if 1,000,000,000 is accurate)

So sorry for not being precise enough to explain what i mean, I mean in using it to displays these details,
"Private sale hard cap: $5,00,000
 Public sale soft cap: $1,00,000
 Public sale hard cap: $10,00,000"

Is it right if I turn it into this?
$500,000
$100,000
$1,000,000

Their positioning of the comma is quite not right. Anyway, after more than a month here in the forum, seems that this thread is not picking up. So can they raise those figures to continue their project or will this be another shelved project because they can't raise their funds? They need to be aggressive here to attract potential buyers, else, don't know if they can reach their targets here.

The positioning of the comma would be corrected in the whitepaper V1.1 which shall be released soon.
Also, we have not posted our project here only with the intention to get investors but we needed to announce our project and spread the word so we made it available here.
We are not intending to attract investors here as finding investors here is quite a difficult task.

We are aggressive onto other platforms and we are getting investments over there.
2 of the bonuses rounds are closed which keeps only 1 active offering 15% bonus and hopefully it would be closed soon too.

As of now, the team is working on launching the MVP ahead of the roadmap and also working on few important partnerships.

More than Six months passed. Any updates?

The token has been rebranded to UMF, Website being revamped
And they are working on content updating before deploying all the pages/details.
The token contract along with other details will soon be made public.

So yes, soon is the valid answer we are getting at this time :)

Before writing that comment, I tried to search for the latest updates that the project might have made, and I missed it. Unfortunately I did not find anything. They may post updates on Telegram but unfortunately I am not very active on Telegram.
Could you explain to us the source of this news? Why don't they post updates here on the forum? The official representative of the project is active on the forum and I was expecting him to have posted updates. Unfortunately he didn't.

-SNIP-
The official representative of the project is active on the forum and I was expecting him to have posted updates. Unfortunately he didn't.

Hey, Castillo. Everything’s great. Just a little slow in pace atm as Rohan is still in recovery phase & it’s being difficult to discuss & arrange meetings.

This information was shared with me directly by their COO via telegram pm way back on Feb. 24, 2022, and this might be the very reason he's no longer active in this forum.
The owner of that account, Rohan, the CEO, is currently recovering.
He got involved in an accident and was admitted to ICU and has undergone surgery.

I recently asked the COO again about updates and this is what he told me: