UTRUST

[rudster]

UTRUST did the right move, and they have been transparent about why they did it. Everyone is only focusing on the fact that they extended ICO and not all the benefits that they gave to the community. I think people just like to be angry because it's easier than reading the whole post.
1. Team Tokens — REDUCED  ✅
We are changing the amount of tokens that UTRUST will hold from 100 million to only 50 million. The newly released tokens will be added back into the total supply for everybody to purchase during our ICO.

2. Smart Contract — AUDITED  ✅
Today we are releasing an independent review of our smart contract by Positive.com. We are proud to say that they gave it their approval and that it will be deployed shortly. You will be able to use the contract shortly after the ICO ends and when your KYC is complete.
 
3. Private Investors — VESTED  ✅
We talked to our private investors to negotiate a minimum vesting period of 12 months. This is great news as it means that another 100 million tokens cannot be withdrawn or sold for a full year.
 

4. 500 Million Tokens — BURNED  ✅
We made the decision to burn 50% of all tokens today, prior to the end of our ICO, permanently reducing the total maximum supply by half. We now have a very limited number of tokens available for sale.

5. Public ICO — EXTENDED  ✅
Since all these structural changes will result in an improved value proposition, we would like to give everyone a fair chance to participate in our ICO. As a result, we have extended our ICO to end on 20 November 2017 at 2 PM UTC.

EVERY SINGLE POINT is beneficial for the market growth!
They reduced their own supply! That selfless in my opinion.
Smart contract is them showing proof that the tokens are burned and correct amount will be in supply
Private investors are vested, also from telegram the US investors are vested and UTRUST is vested. So the only people that would create a dump, can't.
500M tokens burned & extension, that shows they aren't after money , because if they were then why burn,greedy people would keep the same supply. They are just giving the community a chance to participate because of the market conditions.

Seriously people, it's a great move.

With ICO ending today they were burning 500+ Million tokens anyway. The good thing is that they will reduce team tokens and they audited the smart contract trough a company and not all by themselves

The ICO is ending Nov 20th

[imtiazmahmood]

token sale going successful and token sale will be end in 10 days. token distributed till now 418,572,422/500,000,000. UTRUST soon cover hardcap guys. hurry up guys. don't miss this opportunity

[haxllega]

UTRUST did the right move, and they have been transparent about why they did it. Everyone is only focusing on the fact that they extended ICO and not all the benefits that they gave to the community. I think people just like to be angry because it's easier than reading the whole post.
1. Team Tokens — REDUCED  ✅
We are changing the amount of tokens that UTRUST will hold from 100 million to only 50 million. The newly released tokens will be added back into the total supply for everybody to purchase during our ICO.

2. Smart Contract — AUDITED  ✅
Today we are releasing an independent review of our smart contract by Positive.com. We are proud to say that they gave it their approval and that it will be deployed shortly. You will be able to use the contract shortly after the ICO ends and when your KYC is complete.
 
3. Private Investors — VESTED  ✅
We talked to our private investors to negotiate a minimum vesting period of 12 months. This is great news as it means that another 100 million tokens cannot be withdrawn or sold for a full year.
 

4. 500 Million Tokens — BURNED  ✅
We made the decision to burn 50% of all tokens today, prior to the end of our ICO, permanently reducing the total maximum supply by half. We now have a very limited number of tokens available for sale.

5. Public ICO — EXTENDED  ✅
Since all these structural changes will result in an improved value proposition, we would like to give everyone a fair chance to participate in our ICO. As a result, we have extended our ICO to end on 20 November 2017 at 2 PM UTC.

EVERY SINGLE POINT is beneficial for the market growth!
They reduced their own supply! That selfless in my opinion.
Smart contract is them showing proof that the tokens are burned and correct amount will be in supply
Private investors are vested, also from telegram the US investors are vested and UTRUST is vested. So the only people that would create a dump, can't.
500M tokens burned & extension, that shows they aren't after money , because if they were then why burn,greedy people would keep the same supply. They are just giving the community a chance to participate because of the market conditions.

Seriously people, it's a great move.

In my opinion extending the ICO is not necessary but apart from that, all other announcements are good for the project and us the investors.

[SEELE^^01]

token sale going successful and token sale will be end in 10 days. token distributed till now 418,572,422/500,000,000. UTRUST soon cover hardcap guys. hurry up guys. don't miss this opportunity

time to buy some more tokens, now that the ico sale is being extended

imo very good decision of utrust, 1 week was just too short...

[Rigorous]

Here is the review of UTrust's Smart Contract:

https://blog.positive.com/utrust-smart-contract-audit-bf40c141f0a6

No vulnerabilities were found since the contract is built on top of OpenZeppelin’s StandardToken implementation without any own additional code.

[moriskarlov]

4. 500 Million Tokens — BURNED  ✅
We made the decision to burn 50% of all tokens today, prior to the end of our ICO, permanently reducing the total maximum supply by half. We now have a very limited number of tokens available for sale.

5. Public ICO — EXTENDED  ✅
Since all these structural changes will result in an improved value proposition, we would like to give everyone a fair chance to participate in our ICO. As a result, we have extended our ICO to end on 20 November 2017 at 2 PM UTC.

Can you provide some links to convince community that all tokens were really burned at some ethereum adress? If you don`t sell remaining 82 000 000 tokens during 10 days, you will also going to burn them, or spread them equally between all ICO participants?

[mike0182]

token sale going successful and token sale will be end in 10 days. token distributed till now 418,572,422/500,000,000. UTRUST soon cover hardcap guys. hurry up guys. don't miss this opportunity

time to buy some more tokens, now that the ico sale is being extended

imo very good decision of utrust, 1 week was just too short...

I agree, people still did not have time to get out of bitcoin and buy Utrust and another alts, now they will have 10 days to do it ..

[PS92]

token sale going successful and token sale will be end in 10 days. token distributed till now 418,572,422/500,000,000. UTRUST soon cover hardcap guys. hurry up guys. don't miss this opportunity

time to buy some more tokens, now that the ico sale is being extended

imo very good decision of utrust, 1 week was just too short...

Especially with the HF. It's only since last days that they knew it wouldn't go through

[bitcoinbulk]

token sale going successful and token sale will be end in 10 days. token distributed till now 418,572,422/500,000,000. UTRUST soon cover hardcap guys. hurry up guys. don't miss this opportunity

time to buy some more tokens, now that the ico sale is being extended

imo very good decision of utrust, 1 week was just too short...

I agree, people still did not have time to get out of bitcoin and buy Utrust and another alts, now they will have 10 days to do it ..

I definitely think there were a lot of people that were holding BTC to get their S2X. Now that  it's suspended I believe people will start buying other alts and ICOs

[belechau]

Here is the review of UTrust's Smart Contract:

https://blog.positive.com/utrust-smart-contract-audit-bf40c141f0a6

No vulnerabilities were found since the contract is built on top of OpenZeppelin’s StandardToken implementation without any own additional code.

Thank God for that, it reassures us to know that we have made the right choice for this moment, even if there is any setback.

[Jay2408]

4. 500 Million Tokens — BURNED  ✅
We made the decision to burn 50% of all tokens today, prior to the end of our ICO, permanently reducing the total maximum supply by half. We now have a very limited number of tokens available for sale.

5. Public ICO — EXTENDED  ✅
Since all these structural changes will result in an improved value proposition, we would like to give everyone a fair chance to participate in our ICO. As a result, we have extended our ICO to end on 20 November 2017 at 2 PM UTC.

Can you provide some links to convince community that all tokens were really burned at some ethereum adress? If you don`t sell remaining 82 000 000 tokens during 10 days, you will also going to burn them, or spread them equally between all ICO participants?

That's what Rob, one of UTRUST team wrote in telegram regarding the proof of burn.

Hi @its_me_only, we’re deploying the smart contract today and will provide its source code together with the proof of burn shortly after.

Unsold tokens will be burned, too.

[FIEX]

UTRUST did the right move, and they have been transparent about why they did it. Everyone is only focusing on the fact that they extended ICO and not all the benefits that they gave to the community. I think people just like to be angry because it's easier than reading the whole post.
1. Team Tokens — REDUCED  ✅
We are changing the amount of tokens that UTRUST will hold from 100 million to only 50 million. The newly released tokens will be added back into the total supply for everybody to purchase during our ICO.

2. Smart Contract — AUDITED  ✅
Today we are releasing an independent review of our smart contract by Positive.com. We are proud to say that they gave it their approval and that it will be deployed shortly. You will be able to use the contract shortly after the ICO ends and when your KYC is complete.
 
3. Private Investors — VESTED  ✅
We talked to our private investors to negotiate a minimum vesting period of 12 months. This is great news as it means that another 100 million tokens cannot be withdrawn or sold for a full year.
 

4. 500 Million Tokens — BURNED  ✅
We made the decision to burn 50% of all tokens today, prior to the end of our ICO, permanently reducing the total maximum supply by half. We now have a very limited number of tokens available for sale.

5. Public ICO — EXTENDED  ✅
Since all these structural changes will result in an improved value proposition, we would like to give everyone a fair chance to participate in our ICO. As a result, we have extended our ICO to end on 20 November 2017 at 2 PM UTC.

EVERY SINGLE POINT is beneficial for the market growth!
They reduced their own supply! That selfless in my opinion.
Smart contract is them showing proof that the tokens are burned and correct amount will be in supply
Private investors are vested, also from telegram the US investors are vested and UTRUST is vested. So the only people that would create a dump, can't.
500M tokens burned & extension, that shows they aren't after money , because if they were then why burn,greedy people would keep the same supply. They are just giving the community a chance to participate because of the market conditions.

Seriously people, it's a great move.

Thanks a lot for making this summary!
Great work!

UTRUST made indeed the right descision. UTRUST to the moon!

[haxllega]

I'm planning to invest the project has great visions, Looking forward to the future and success of this project. Good luck and all the best.

You should be fast because maybe it's sold out in a few days. I am sure it will reach hard cap until the end of the ICO. People now want to invest in ICOs again.

[PS92]

Here is the review of UTrust's Smart Contract:

https://blog.positive.com/utrust-smart-contract-audit-bf40c141f0a6

No vulnerabilities were found since the contract is built on top of OpenZeppelin’s StandardToken implementation without any own additional code.

Thank God for that, it reassures us to know that we have made the right choice for this moment, even if there is any setback.

Exactly! This is a great team with a great future!

[kraterion]

Maybe it will reach the new hard cap but I don't really like when projects extend ICOs, if you research the time frame and lenght of the ICO you must stick with your plan. Or at least make a poll among the community

[Iruwen]

How the hell can you extend a 7 day ico by 10 days. Give me
a break. Everyone dump this scam coin immediately once it hits the exchange.
Oh sorry guys, we are greedy, and we need 10 more days to raise 4 more million for our lambos.

You do realize they kept the price per token and burned half the tokens, so they effectively reduced the hard cap by 50% right? This is very good for investors.

The new maximum ICO cap is set at $21.375 MM
https://s3-eu-west-1.amazonaws.com/utrust/whitepaper/en/UTRUST-whitepaper-en-2017-11-02.pdf page 26

[Jree247]

Some people enjoy complaining for sure! At least the project hasn’t been abandoned.

[Canuck21]

How the hell can you extend a 7 day ico by 10 days. Give me
a break. Everyone dump this scam coin immediately once it hits the exchange.
Oh sorry guys, we are greedy, and we need 10 more days to raise 4 more million for our lambos.

You do realize they kept the price per token and burned half the tokens, so they effectively reduced the hard cap by 50% right? This is very good for investors.

The new maximum ICO cap is set at $21.375 MM
https://s3-eu-west-1.amazonaws.com/utrust/whitepaper/en/UTRUST-whitepaper-en-2017-11-02.pdf page 26

You do realize they had to do that anyways, and not 500m token but 600m. Last time I checked that was a loss for current investors of 20%.

[kraterion]

How the hell can you extend a 7 day ico by 10 days. Give me
a break. Everyone dump this scam coin immediately once it hits the exchange.
Oh sorry guys, we are greedy, and we need 10 more days to raise 4 more million for our lambos.

You do realize they kept the price per token and burned half the tokens, so they effectively reduced the hard cap by 50% right? This is very good for investors.

The new maximum ICO cap is set at $21.375 MM
https://s3-eu-west-1.amazonaws.com/utrust/whitepaper/en/UTRUST-whitepaper-en-2017-11-02.pdf page 26

You do realize they had to do that anyways, and not 500m token but 600m. Last time I checked that was a loss for current investors of 20%.

If they don't reach hardcap they will do what they were going to do today, burning more then 500+M tokens. Anyway they extended ICO and we can do nothing about that, so I'll just move on even if I don't like this. On the bright side, the good news is that they recognized that it was impossible to reach 1B cap and they halved tokens reserved for the team. Thumbs up for doing that

[sockpuppet1911]

I'm planning to invest the project has great visions, Looking forward to the future and success of this project. Good luck and all the best.

You should be fast because maybe it's sold out in a few days. I am sure it will reach hard cap until the end of the ICO. People now want to invest in ICOs again.

Let's hope for the best. I am not that confident in icos anymore until they start paying back again. Except maybe pre-icos and utrust ico .