UltrAlpha Cofounders AMA at Get Rich With Mandy Community chat

Host：

Mandy Community: https://t.me/getrichwithmandygroupchat

Guest：

Han Liu, UltrAlpha Co-founder & CEO (Han)

Christina Jin, UltrAlpha CMO (Christina)

Qing Xu, UltrAlpha COO (Qing)

Note: Here is the transcription of the event. Please note that the transcript was edited for comprehensibility and coherency, while the content was not changed.

Mandy: Hi community, we are pleased to announce and host an AMA with UltrAlpha team on 23 August 8.30 am IST /11 am SGT. Let’s just get to the point and welcome UAT cofounders.

Han Liu: Glad to be here today guys! I’m Han, CEO of UAT. Let me introduce my team, @chrisjinjin our CMO, and @XuQing our COO.

Christina: Hi, guys, I am Christina, the CMO of UltrAlpha Platform, very happy to be here at Mandy Community today!

Qing: Hi everyone, this is Qing from UAT.

Q: Hi, My first question is, what are some of the REAL use cases of UAT token?

Han: For those of you who are not aware, UAT is a newly founded asset management service platform aiming to connect the investors in the crypto world with establisehd trading teams and fund managers.

Qing: UltrAlpha is launching a professional investment management service platform aiming to provide potential investors with access to quality products based on their risk/return needs as well as trading teams and digital asset managers with a variety of fund admin services, including but not limited to account management, performance auditing, PL reporting, asset transfer, etc.

Investors can utilize UAT token as the platform currency to pay for all services on the UAT platform, for example, inquiry, transfer, redemption, purchase, and other administrative, operational services. All UAT paid to the platform as payment for services will be deposited in for payment will be subject to permanent lock-up.

Q: Please briefly explain the process of subscribing to a UAT fund product… What amounts of UAT tokens will be required? What information will be available per product for our own selection process of which fund/product to invest in?

Han: It’s pretty simple. You choose a product of you liking, and invest capital during the investment window. The amount of UAT mined for investing in products might differ by product. The first products we are planning to set 1% mining rate on investment. So all the fund producsts listed on UAT will have their information and detailed fact sheets decribing the team, type of strategy, basically as much information as we can gather from the trading teams that can be disclosed to public.

Q: It says that 40% of the total amount which will be available for trading it will be released daily?

Qing: Not daily. It will be released based on each product’s fund raising capital.

Q: I assume the team will launch its own mobile app right?

Han: Not planeed at this point. If demands arise in the future we will allocate resources.

Qing: It’s in our pipeline.

Q: Why the lock up of tokens for only 3 months ?

Christina: 10% of private sale and 50% of public sales (in total approximation of 30m UAT) will be unlocked and released on the first day when UAT is listed on the digital asset trading platform / exchange. Every time when UAT is listed on a certified top-tier exchange or trading platform, 5% of presale portion (10 million UAT) will be subsequently unlocked and released.

Q: When do you guys planning to release your product to the users ? Your concept is good. But we need a real product. Because so many projects coming up with really good concepts. But they failed to giving out real product to users.

Han: I agree, it’s crucial to deliver products. Our next release is planned at end of August, or very early in September. We will launch our first few products immedately with the release.

Q: What is your plan? Can we expect it later this year ? I mean in Q4.

Christina: In Q4, 1) we are working with all the professional asset management and trading teams to coordinate the launch of their investment / trading products. 2) seeks to open up all those products to top-tier digital asset exchanges or trading platforms. 3) provides with series of professional fund admin services, ranging from account management, performance audit to PL reporting as well as various other administrative support services per request.

Q: Any updated historical data of how the fund has performed up to today? How will users’ funds (capital) be stored? What are the safety measures/insurance?

Christina: UAT platform will rely on top-tier 3rd party custody to secure the client’s asset. Details will be fully disclosed on our website, to provide full transparency.

Han: We will disclose fund performance data at our next release planned by the end of the month, until then please stay tuned. Users’ funds will be kept at top-tier 3rd party custody. Details on the custody will also be dislosed at the next release.

Q: “UAT is a Non refundable functional utility token” what does that mean ?

Qing: UAT once been consumed will be permanently lock-up.

Q: Can you explain about B-Tech and UAT relation? When will the fundraise take place?

Han: Sure. 1. we see a lack of transparency in most platforms that offer stratey/fund products. For example, detailed pnl data, risk metrics, explanation of pnl methodologies and/or lack of supporting data behind the return numbers for their products. Some of those are unacceptable in my opinion, and this is due to a lack of established fund admin and audit services in the crypto industry. We change that by being very transparent and consistent about the fund product related data shown on our platform. For example, users will see the daily nav/pnl change with and we will periodically perform audit on the fund operations and publish reports. 2. One major pain point in the crypto industry is the ineffective connections between reliable investors and realiable trading teams/fund managers with capital raising needs. Lots of such connections take place in an OTC-like manner and there are lots of credit and counter-party risks involved due to the ‘trustless’ nature of digital assets. UAT has the luxury of the strategic partnership with Bitmax, as exchanges naturally have resources on both the investors and trading teams. In phase 1, UAT will be available to all Bitmax registered users.

Q: Why did you choose the strategy of releasing 5% every listing time?

Christina: I personally don’t believe time-based release is a good approach. What is the reason that after 3 months your circulation supply all of the sudden doubles? Does your Company worth 2x value automatically after 3 months? In most case, the answer is “No.” I believe circulation supply can only increase for 2 reasons 1) we have more demand from market 2) the value of the company increases. Top exchange listing falls into the 1st category.

Q: Why did you chose to do a sudden lock up of 150 million UAT, just few days after the release? What triggered this decision?

Han: It wasn’t really a sudden decision. After the initial design of 500 million UAT, we have had discussions among our teams and with our initial investors regarding this number and how it fits our model. We had mutually agreed a whlle ago that it’s better to reduce the total supply, but given the release schedule pipeline we decided not to do it before the launch.

Q: Can you explain about B-Tech and UAT relation? When will the fundraise take place?

Han: B-tech is near the end of the pipe-line with UAT. Expect to hear more details soon.

Christina: B-Tech, a newly formed investment arm of BitMax.io focusing on the acceleration and development of blockchain projects, will conduct fundraising exclusively on UAT Platform. This will be the only opportunity for all investors to participate in the fund-raising of a top-tier trading platform incubator. Rules of B-Tech fund-raising will be announced at a later date. Please stay tuned.

Q: Is there a third party audit of the pnl, financial statements by UAT?

Han: UAT will audit the pnl of our fund-products on behalf our users (i.e., investors to those products), and we will hire dependable 3rd party to audit us.

Christina: UltrAlpha platform rovides wallet management service for each investment product to safeguard client asset. Conduct fund performance audit and PL reporting for each investment product.

Q: About 5% of presale tokens release on a new listing, how actively is the team working on it? Is it fair to say, we can expect 1–2 top tier exchanges every quarter?

Qing: Every time when UAT is listed on a certified top-tier exchange or trading platform, 5% of presale portion (approximate 10 million UAT) will be subsequently unlocked and released.

Following the release ratio, respective tokens from pending mining portion and team portion will be subject to permanent lock-up.

Q: when the team is focusing on token listing and other crypto things, how would you believe that the team can build a decent product that acctually works?

Han: We plan to launch our first set of investment products in our next release, planned by end of August or early September. Those products will be open to investment, so yes they shoud work 🙂

Christina: Our product department is focusing on the product launch at the end of August while marketing and operation department are mainly focusing on other important things.

Q: Is there any token burn planning ?

Han: Sure, our white paper has listed the details. In short, currently there are a few ways we take tokens out of circulations: 1) UAT trading commissions on BitMax are permanently locked up. 2) 10% profit of products will be sent to seperate accounts to facillitate UAT token buy back. All the tokens acuired this way will be permanelty locked up.

Q: What is the different between UltrAlpha and Ultra fund ?

Qing: Only UltrAlpha platform now. No Ultra fund.

Q: What is trading commission or fee for each product?

Han: There is no ‘trading commission fee’. Fee structures usually consist of 2 portions and differ by products. 1) Management fee. this is a fixed cost that is usually less than 2% annually. 2) Profit distribution. This determines what percentage of the profits get allocated to users/fund managers. We will discuss this structure with each fund product manager before listing them on the platform. For example, some products have no management fee but fund managers take a higher cut from profits, some have a fixed management fee but lower profit cuts. All depends on the type of strategies and product managers. This type of information will be public to users of course.

Mandy: Alright guys, thanks so much for participating UltrAlpha AMA today and for more information and update about UAT team, please stay in touch with the team and follow the official news in the following.

Follow us on UltrAlpha Official:

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