[ANN] UMC | Underground Music Coin | Supporting Musicians, Promoters and Venues

[jaylampin]

https://www.undergroundmusiccoin.com  http://echounderground.com
SYMBOL: UMC
Echonomics
3% Reflection
7% Donation to Musicians, Promoters and Venues.
Pre-Sale: 10B Tokens, $.0004 | $4MM
BSC Contract https://bscscan.com/token/0x5200caba7fe5bc38392d94b0a34b7b918ae662ed
Pre-Raise Wallet https://bscscan.com/token/0x5200caba7fe5bc38392d94b0a34b7b918ae662ed?a=0xa7fab67341afbf915e8d7f2ae5d1ed9c6ce0b53d

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A Revolutionary Echosystem Created for Artists

Over the years, it has become increasingly difficult to succeed as a professional musician.  Indie artists and aspiring musicians find themselves with more competition, less revenue from music sales, and a general lack of support to “make it”.  We have recognized the need for an ecosystem to support the underground and indie music scene and have responded by creating EchoUG.  EchoUG intends to revolutionize the music industry by leveraging the blockchain and a robust ecosystem to ensure artists, promoters, venue owners, and fans all benefit from a decentralized, secure and transparent approach to music management.

​UMC’s ecosystem consists of a token with a purpose, cause and utility built on the BSC blockchain and a user-friendly platform that brings together a community of artists, fans and vendors (e.g., promoters, emarketers, venues, lawyers, etc.).  

​Our goal is to establish a fair and equitable system driven by the creation of good music.  We are enabling artists to create and distribute their music, empowering a community of music lovers to support their favorite artists, while eliminating financial risks to promoters and venue owners.  UMC Token holders will have a unique opportunity to shape the future of the music industry.

How UMC supports the artist community


UMC token purchases, trading and transactions will generate the resources EchoUG will use to support artists, promoters and venues.
EchoUG is a platform designed for music fans, artists, promoters and venues to come together and create a music scene driven by the music they love.

The UMC blockchain voting system enables fans to fairly help shape the music that makes it to their local stages. Based on voting, EchoUG will pay the talent expense for promoters and venues and in turn, promoters and venues will benefit from reduced event costs.  In addition to the direct event funding, EchoUG will provide artist support services through grants.

Promoter and Venue Support.  Promoters and venues play an integral role in building up artists and creating a vibrant music scene.  EchoUG  reduces the financial risk to promoters and venues by removing the expenses associated with funding artists for shows.  Removing artist expenses will allow promoters and venues to host more events, lower ticket prices, and ultimately, these savings will be passed to music lovers.

Voting System. EchoUG’s voting system will be conducted through the EchoUG Platform at EchoUG.com.  Each UMC token owner will have a single vote on artist rankings, promoter/venue rankings, and event funding.  To ensure equality, every wallet is worth 1 vote per category, regardless of the number of tokens held in the UMC token owner’s wallet.  These votes will be used along with other gathered metrics to determine distribution of grants to Artist, Promoters and Venues.

Artists Development. EchoUG will provide artists development support services for the top ranking artists from each genre including, videos, marketing, tours, music production, Tax and legal advice.

Content Management Platform.  The EchoUG platform will also host subscription-based and transaction-based content feeds that will drive quality interactions between artists and fans.  Artists will have the ability to host and sell music content and customize viewing/streaming parameters by their fans (ex:  Donate 5 UMC tokens to unlock a song requested by the fan).

EchoUG’s main priority is to support budding artists, promoters and venues.  These are the foundations for a vibrant music scene and we hope to facilitate the creation of good music.

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Mechanics of the UMC token


UMC token purchase mechanics
​For every token purchase transaction, the purchaser will receive 90% of the tokens in their personal UMC wallet.  Of the full purchase, 7% of the tokens will be donated to an Artist Foundation Wallet which will be used to support the broader artist community via token distributions and advisory services (e.g., marketing, legal, branding, advertising, etc.).  The remaining 3% of tokens will be Redistributed to existing UMC token holders.  The Redistribution will function similarly to an automatic staking system where UMC token holders will earn rewards in the form of UMC tokens distributed real-time.  

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Our EchoUG Echosystem is composed of five key wallets which are excluded from redistribution (automatic staking).  However, the Founder Wallet will automatically join redistribution in June 2023 once the founder’s lock-up period expires.  

​Pre-raise Wallet – 10B UMC tokens ($4MM goal) will be allocated to the pre-raise wallet intended for development, advertising, marketing, PR, and operation expenses; 1MM UMC tokens ($400K or 10% of pre-raise) will be allocated to grants for promoters and venues to alleviate event expenses (0xa7fab67341afbf915e8d7f2ae5d1ed9c6ce0b53d)
​Liquidity Wallet – 22.5B UMC tokens will be used for securing the coin exchanges that UMC token will be traded on (0x93b4023dd7619bef73e4391e8d773730dec76134)
Operations Wallet – 15B UMC tokens will be allocated toward future operations if/when required to support the Artist Foundation and business operations.  (0xc80e1a0cd5b9d99adfaa764a379842a3e24063e7)
Founder Wallet – 2.5B UMC tokens with a June 2023 lock-up period will be allocated to the founder.  We have instituted a lock-up period to ensure that the founder remains fully committed until major milestones are met. (0x679d7ee6965469a3465c9d3b8af7631c65d94c59)
Artist Foundation Wallet - This is the primary wallet where 7% of all UMC token purchases and sales will be distributed into (0xcae785404949c742a4bcf71c630debe8b8a253c9)

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Roadmap

Q2 2021
UMC Coin Creation – Completed
Establish Launch Team – Complete  
Establish Business Entity  - Completed
Identify Platform Development Partners - In Progress
Identify Marketing /  PR Partners - In Progress
Create and Implement Marketing/PR Plan - In Progress
UMC Token Private Sale - In Progress
UMC Landing page - Complete

Q3 2021
UMC Token Public Sale  
Secure Brand Ambassadors
EchoUG Showcase Website
Event Funding / Grants
Pursue UMC Exchange Options
EchoUG Platform Development

Q4 2021
EchoUG Platform MVP Completed (TBD)


Q1 2022
Music Sales System
Artists debit card implementation
Merchandising Implementation  


The Underground Music Coin Team


Wally Callerio - Founder/Creator
www.linkedin.com/in/wally-callerio

Aaron Hsu  - Business Strategy
https://www.linkedin.com/in/aalhsu/

Adriana Callerio  - IT Performance and PMO
https://www.linkedin.com/in/adrianaelizabethcallerio/

Jimmy Lam  - Engineering & Integration
https://www.linkedin.com/in/jimmylam-gg/

Dez Einswell
Design
http://dezeinswell.com/

[BTCITA187]

what's the link to telegram group of Underground Music Coin ?

[bakasabo]

Your project has identical ideas with Viberate project.
Their project was released about 3 years before your and they still are not the kings of music related cryptocurrency projects. Compared with your project, they appeared more at the right time. They raised soft and hard caps, released their platform, got listed. But, I cant say that they are very successful and demanded. Even though they have a huge funding. While you dont even have money to buy cooper membership to make your pictures visible here. Do you really think that you can compete with such a giant?

[mandor]

I read the roadmap, seems there will be a lot of marketing going on, that might be good but it's even better if things related to products continue to be developed. By the way, what will the product of this project look like? because I see the "Viberate" has a working product, so you should be able to do better than their product.

[terciduk123]

Creator wallet has 2 kinds of UMC tokens with different total supply, if we may know, why do you have 2 kinds of UMC tokens, was there a problem at the beginning of creation?
Besides that, why is the allocation for Liquidity Wallet so large, 22.5 billion? or about 45% of the total supply and this allocation unlocked.

[jaylampin]

“Your project has identical ideas with Viberate project. “

Bakasabo, I appreciate the interest and questions.  Also, thank you for the tip about the copper membership/pay to play option. I assumed the feature of posting pictures was unlocked based on Member status.  

Here’s my take away from the Vib site and what they do.  If I've mischaracterized any of their features, please comment.

• Artist, Festival and Events Directory which is crowdsourced/curated by its users.
• A provider of Artist's Statistics from various streaming platforms.
• They have a how to section w/ 12 articles on how to be successful on social media
• They are not a social network/platform.
• They are a for profit site that generates revenue via paid subs and as a middleman connecting artists with venues.

Here's what sets UMC apart from VIB and all other Music related tokens:
UMC's Echonomics
10% funded via donation per UMC transactions.
3% Reflection/Redistribution to token holders.
7% Artist Foundation wallet

Currently, VIB is trading on avg $1MM/day.
UMC would generate $70k/day into our Artist Foundation wallet to be used for:
Artist development and support for top-ranking/selected artists on the EchoUnderground Platform which fund:

• Music Production
• Music videos
• Marketing
• Merchandising
• Legal Support
• Monthly Coin Redistribution to top ranking artists on Echo Underground.

Promoter and Venue Support:

• Top ranking venues/promoters and events will receive Talent Budget/Grants.

Reflections:  We'll use VIB's movement for the example:  Of the 1MM/24h volume, $30k/day would be redistributed to the holding members of UMC (weighted).
 
The Echo Underground Social Platform:

• EchoUnderground Profile Pages (Artists/Promoters/Venues/Fans)
• Various Community Pages, News, Stats, Howtos:, Articles
• Search Platform
• Voting System; Ballots, Stats, Results
• Merchandise
• Artists driven, not profit driven Music Sales Platform. What does that mean?  It’s simple. 80% of sales goes to the Artist and 20% is donated back to the Artist Foundation Wallet to help develop and empower the community of Artists in the EchoUnderground

Our echoSystem was created by a lifelong Underground/Indie artist who also started the 2nd Dance music download site in 2004-2009 and first online to sell high quality WAV files to DJs.
VIB appears to have been created by someone with an analytics driven background, not a musician.  Who do you think understands what an Artist needs more?  A number cruncher or musician/label owner who’s experienced decades of highs and lows of the music industry.
 

They raised soft and hard caps, released their platform, got listed. But, I cant say that they are very successful and demanded. Even though they have a huge funding. While you don’t even have money to buy cooper membership to make your pictures visible here. Do you really think that you can compete with such a giant?

Again, our model is very different than VIB's.  We're just getting started.  Watch this space!
As for your copper membership comment, I have more loose change in my car to cover that cost.  

[CryptoSearcher101]

Def reads like a whole different model than that $vib. VIB def seems more like its main thing is statistics gathering and crowd sourced info like a wikipedia for music.. which is great if you are looking for statistics.. but it seems like UMC can directly effect the artists in a few diff ways from event funding to artist development, artists coin distributions and in a decentralized environment where fans are voting up the top artists. both interesting concepts but I am tending to like the model that directly effects the artists.   2 team members work at Ingram Micro fortune 500 tech company 1 has worked at nasa. founder/creator a lifetime artist. and some pretty interesting design by that dez einswell.. pretty cool concept.. I am def interested and keeping my eye on this...

[jaylampin]

Creator wallet has 2 kinds of UMC tokens with different total supply, if we may know, why do you have 2 kinds of UMC tokens, was there a problem at the beginning of creation?
Besides that, why is the allocation for Liquidity Wallet so large, 22.5 billion? or about 45% of the total supply and this allocation unlocked.

Initial deploy had an issue. There was an error while doing a raw copy/paste from our git repo to remix.  While code did not change, we were unable to generate output from the Read Info functions on bscscan.  The only option was to deploy again. 
 We do have plans to lock up some supply, however that wallet's supply will be used for DEX and Exchanges, Drops, and Bounties.

[jaylampin]

what's the link to telegram group of Underground Music Coin ?

UMC Telegram https://t.me/undergroundmusiccoin