Hello everyone,
Thank you for showing interest in the Utopia Project! We are currently working very hard to get the show on the road, and here's some updates we're focusing on now:
- Compiling source codes & wallets for testing
- Building new version of utopiaco.in website
- Adding feature to allow university students to exchange academic work for UPM/BTC
- Native academic papers regarding Bitcoin to be added soon
- Collaboration with the Media & Business school of EUR
- Launch for mining is scheduled on 1st August 2014, 00:00 GMT. Crowdfunding may close on or before that time.
The distribution model of UPM is designed such that early adopters will benefit more so than late adopters, and rightfully so for taking on higher risk. Especially in times like these where scams are rampant, we at UPM aim to come out on top and bring to the community an altcoin that is fair, transparent, and built with a long-term plan in mind.
With only a 1 million maximum supply, 40% will be distributed during the first month alone, half of which is disbursed via this crowdfunding phase. Keep in mind that this current crowdfunding period will last for another 30 or so hours. At the current BTC pot size of 6.582, the 20% supply will be distributed to all shareholders at a current price of 0.00003291 BTC/UPM.
After the first month, mining will reset to a rate of less than 1% of total supply a month, with an increase of 50% per month, until month 12, which will be the last month of PoW mining and distribution. Thereafter, UPM will be secured by at least PoS, while other features are also being considered such contributing computational power to relevant projects such as SETI or via BOINC.
Ball is in your court. If you have questions, do ask.
