[ANN][UMC] Unity Matrix Commons - Democratized Risk Management

[Ayamj]

The old team did not "run away with the money" and dump the project on us. We are still running the projects with the funds raised from the crowdsale. Most of us were already helping with the project when the news occurred and we wanted to continue running it.  Ryan, Emilio and Alex have been active in our telegram and discord when they've had time.

We're still running the project, posting updates and working on our code. We've had a lot to deal with as the transition occurred including rehosting the website, reworking the whitepaper, doing the burn, hiring devs, calculating the bounty, trying to get listed on more exchanges, and doing more marketing. We've been juggling all of these things and doing our best. We haven't been as active as we'd like posting updates because of this but are still trying to keep you updated with major developments.

We're sorry about the delay in distributing bounties. Our manager has been very busy. We're distributing the bounties starting tomorrow. We thought it would take 3-4 weeks to distribute, and we're at just about 3 weeks. Thanks for your patience.

and blog bounty too right!

[1715574758]

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[1715574758]

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[1715574758]

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[umbrellacoin]

The old team did not "run away with the money" and dump the project on us. We are still running the projects with the funds raised from the crowdsale. Most of us were already helping with the project when the news occurred and we wanted to continue running it.  Ryan, Emilio and Alex have been active in our telegram and discord when they've had time.

We're still running the project, posting updates and working on our code. We've had a lot to deal with as the transition occurred including rehosting the website, reworking the whitepaper, doing the burn, hiring devs, calculating the bounty, trying to get listed on more exchanges, and doing more marketing. We've been juggling all of these things and doing our best. We haven't been as active as we'd like posting updates because of this but are still trying to keep you updated with major developments.

We're sorry about the delay in distributing bounties. Our manager has been very busy. We're distributing the bounties starting tomorrow. We thought it would take 3-4 weeks to distribute, and we're at just about 3 weeks. Thanks for your patience.

Then why have most of the funds disappeared from the crowd sale address? Could you console me by either

A) showing where you moved funds with signed message.

B) confirm you sold the missing eth (~1400ish) for USD.

A project should be transparent with raised $$$. I am not suspicious of you, but based on address and dates of transfer it moved before New team

Some of the transfers occurred before the new team because the transition was already underway before it was announced. Both the old and new team agreed that we should control the ETH and that's also why you see transfers continuing after the announcement.

We took some of the funds and distributed it to team members. That was regular compensation for working on the project and the regular compensation will continue. The team's main holdings right now are ETH, NEO, MCO, and BTC. We did this to diversify and those haven't been touched since. I don't know how they did the transfers or why it would be hard to track.

[cryptoisdafuture]

The old team did not "run away with the money" and dump the project on us. We are still running the projects with the funds raised from the crowdsale. Most of us were already helping with the project when the news occurred and we wanted to continue running it.  Ryan, Emilio and Alex have been active in our telegram and discord when they've had time.

We're still running the project, posting updates and working on our code. We've had a lot to deal with as the transition occurred including rehosting the website, reworking the whitepaper, doing the burn, hiring devs, calculating the bounty, trying to get listed on more exchanges, and doing more marketing. We've been juggling all of these things and doing our best. We haven't been as active as we'd like posting updates because of this but are still trying to keep you updated with major developments.

We're sorry about the delay in distributing bounties. Our manager has been very busy. We're distributing the bounties starting tomorrow. We thought it would take 3-4 weeks to distribute, and we're at just about 3 weeks. Thanks for your patience.

Then why have most of the funds disappeared from the crowd sale address? Could you console me by either

A) showing where you moved funds with signed message.

B) confirm you sold the missing eth (~1400ish) for USD.

A project should be transparent with raised $$$. I am not suspicious of you, but based on address and dates of transfer it moved before New team

Given your low activity count, either you haven't been in the space long or are a troll. I'll give you the benefit of doubt, and consider the former. A lot of the ICO's move away the funds raised from the account they're raised in to start spending it for marketing, legal and development expenditures as well as to avoid being hacked. I agree on the transparency part, but I think our concern here is the lack of communication recently from the team and your allegations are a red herring. I'd rather the team focus on giving out the bounties, getting listed on exchanges than reply to your allegations here.

[Jahanam]

I'm curious about the umbrella project, will it be an IXT competitor? How much the ETH raised when ICO?

[BitFarmer75]

I don't think so. IXT is in Europe, and UMC is in the USA.  IXT is build on a network of insurance companies. While UMC is about taking care of the deducible you have to pay. By going through a voting system of the community.

[cryptoisdafuture]

I'm curious about the umbrella project, will it be an IXT competitor? How much the ETH raised when ICO?

Also IXT I thought was in the business of being a marketplace for insurance, not really the insurance provider themselves. Yes, and BitFarmer says this one covers only out-of-pocket costs to keep the math reasonable of compensating claims.

[arteis406]

where exchange UMC? and when UMC listed on exchange? hope soon sir
give me detile for info
thank you and good luck

[19Nov16]

where exchange UMC? and when UMC listed on exchange? hope soon sir
give me detile for info
thank you and good luck

There seems to be no news about the exchanger, because the team is still the distribution of tokens (investors and bounty participants), I hope there is also news about the exchanger.

[qiman]

I was very pleased to receive 32 UMBRELLA TOKENS for my work and will hold these for a long term hold as the insurance Industry is a big market and the app and goodies coming wit this token may make it very valuable, especially with a token burn. I will check now to see what the total supply is and hope the Team has much Success in the near future. I will be coming back to this thread to check the news that is ongoing. I think also other people should calm down a bit and let the DEVS do their job.

[fajarkus12]

where exchange UMC? and when UMC listed on exchange? hope soon sir
give me detile for info
thank you and good luck

There seems to be no news about the exchanger, because the team is still the distribution of tokens (investors and bounty participants), I hope there is also news about the exchanger.

I also wait a news about exchange because exchange is necessary so that we can trade this coin as soon as possible. So people not participate yet during crowdsale can buy this coin for their investment

[umbrellacoin]

where exchange UMC? and when UMC listed on exchange? hope soon sir
give me detile for info
thank you and good luck

There seems to be no news about the exchanger, because the team is still the distribution of tokens (investors and bounty participants), I hope there is also news about the exchanger.

I also wait a news about exchange because exchange is necessary so that we can trade this coin as soon as possible. So people not participate yet during crowdsale can buy this coin for their investment

We have said multiple times that we're trying to get listed on exchanges, but some have requirements like minimum trading volume that we don't meet yet. Someone posted on our telegram yesterday to try coinexchange, so we will probably try to get listed there after we're done distributing bounties.

[frcat]

I cant find your roadmap... Can you give me link please? What next step after exchanges?
Where we can see progress in development?

[umbrellacoin]

I cant find your roadmap... Can you give me link please? What next step after exchanges?
Where we can see progress in development?

I believe the roadmap is listed here although it needs to be updated https://www.umbrellacoin.org/about-us/

As we've said before, our goal is to get listed on an exchange and continue pushing towards a deliverable product. We've been posting updates mostly here and in telegram. You can always check our github https://github.com/umccoin or check our beta application http://staging.umbrellacoin.meteorapp.com/

[fortunecrypto]

thank for give announce,
i hope for can coming a big exchange , hitbtc or coinexchange
thank you for payment

We've been in contact with different exchanges to get listed, but many are slow to respond or tough to get listed. I think with some of the regulation announcements, they're taking it slow. Even a project that raised much more than us like Blockcat is only listed on EtherDelta and Cryptopia.

i think we'll be fine with etherdelta and cryptopia right now, there are some airdrop that got listed in just a matter of weeks, so we can easily do it with a successful ico I'm looking forward to see umbrellacoin in a much better exchange in the future.

[fajarkus12]

where exchange UMC? and when UMC listed on exchange? hope soon sir
give me detile for info
thank you and good luck

There seems to be no news about the exchanger, because the team is still the distribution of tokens (investors and bounty participants), I hope there is also news about the exchanger.

I also wait a news about exchange because exchange is necessary so that we can trade this coin as soon as possible. So people not participate yet during crowdsale can buy this coin for their investment

We have said multiple times that we're trying to get listed on exchanges, but some have requirements like minimum trading volume that we don't meet yet. Someone posted on our telegram yesterday to try coinexchange, so we will probably try to get listed there after we're done distributing bounties.

I hope this coin accepted there. I think no problem if on coinexchange because i know this is only for first step. Slowly but sure trading volume for this coin will increase, so this coin can listed on other exchange that required the minimum trading volume as you said before

[Budycakrog]

very good for news good work hard dev for build this project to going up
i see umc on etherdelta is still pump ,i hope umc is its same with price on ico
thanks for give news

[bhoybitcoin]

Thanks for the info. Just wanna know because I'm planning to buy UMC and keep it for my future plans. Hope that the price goes up in no time.

[frcat]

I cant find your roadmap... Can you give me link please? What next step after exchanges?
Where we can see progress in development?

I believe the roadmap is listed here although it needs to be updated https://www.umbrellacoin.org/about-us/

As we've said before, our goal is to get listed on an exchange and continue pushing towards a deliverable product. We've been posting updates mostly here and in telegram. You can always check our github https://github.com/umccoin or check our beta application http://staging.umbrellacoin.meteorapp.com/

When you will updated your roadmap? And on which exchanges UMC will be listed?
Also, I cant find your telegram. Can you give link to your group?

[umbrellacoin]

I cant find your roadmap... Can you give me link please? What next step after exchanges?
Where we can see progress in development?

I believe the roadmap is listed here although it needs to be updated https://www.umbrellacoin.org/about-us/

As we've said before, our goal is to get listed on an exchange and continue pushing towards a deliverable product. We've been posting updates mostly here and in telegram. You can always check our github https://github.com/umccoin or check our beta application http://staging.umbrellacoin.meteorapp.com/

When you will updated your roadmap? And on which exchanges UMC will be listed?
Also, I cant find your telegram. Can you give link to your group?

We're working with different exchanges to try and get listed, but we don't know which ones will accept us or when they will accept us. Coinexchange is one we're targeting right now. The telegram link is on our website, but here it is https://t.me/joinchat/GlFQWUMMzwyg1GxHy5x_Eg

We also have some other news. We are being forced to remove the umbrella logo and name from our product going forward due to threat of litigation from a very large insurance company. Tokens/development/roadmap will be unaffected, but we will be moving our website domain and changing our logo. Our goal is for the transition to be seamless, but please bear with us as this will be a large undertaking. Thanks for your continued support and we will keep you updated on our progress.

[bhobafett]

OMG! This ico having trouble with other large insurance companies? What are you going to do about that dev? Why are you having trouble now if this ico is decentralized after all?