Major updates: payments, new dates, partnerships
Dear Supporters and Contributors,
We are happy to announce several major updates from Ubcoin:
1) As July 14 date is quickly approaching, we will now commence processing of payments under our marketing programs:
Referral bonuses — we will start payouts on 25 June. The calculation cutoff date will be June 22, amounts accrued will be paid in ETH. Payouts will be processed from 25.06 within 5–7 days approximately.
The referral program continues after that date until end of ICO, continue inviting your friends to earn more!
Airdrops 1 & 2 — we will start payouts on 25 June. Due to significant volume of transactions, the payout period will be 2 weeks approximately, and will be conducted daily in batches. Please be patient until we process all UBC tokens for airdrop participants.
Bounty bonuses — we will start payouts on July, 15. The calculation cutoff date will be 30 June. Than we will have buffer time to finilize the stakes — 2 weeks till July, 14. The payout period will be 1 week approximately after July, 14, and will be conducted daily in batches.
The bounty program continues after that date until end of ICO!
2) A NEW major smartphone manufacturer partnership will be announced in the coming two weeks before July 14. We are very excited to bring this partner onboard! The name of the new partner will be revealed after the official press-conference.
3) Product Development — join public testing of Ubcoin’s AI-module release in July! You will be able to upload description of goods for sale, and feed the machine learning algorithms that will pre-screen seller posting on the marketplace!
We are also making excellent progress on the Ubcoin app development. We will first be releasing it as a stand-alone app available for our community testing, and once it is examined by the community, we will be migrating it to Ubank’s live processing and app distribution. Dates will be announced later, follow our announcements!
4) Investor Relations — our team members will be visiting China in the last week of June, and South Korea in the third week of July. We are experiencing continued institutional investor interest in the project, and hope to attract new major supporters for the project. As the institutional route takes longer time to build value, we are very optimistic that long-term value will be increased by new partnerships.
5) Exchange Listings — Two weeks ago we have finalized an exchange listing with a TOP-10 exchange. However, our trusted community ambassadors asked us to not list there and select an alternative exchange. Though it is tough to change course, we listened to our community, and abandoned that listing. As a replacement, we have now finalized listing arrangements with another major exchange, and will proceed with closing formalities in the next four weeks. Two more exchanges are in the pipeline and will begin trading UBC by the end of August.
6) ICO dates — The market in 2018 concentrated on the infrastructure ICOs, betting that 2–3 out of 100 new blockchains will eventually be the winner. That’s why the infrastructure project ICOs are short in duration, and even they now span 6–7 months from starting a project until ICO finish.
Since Ubcoin are not an infrastructure project, but a DApp (decentralized app), we realize that following infrastructure project rules is detrimental to the long-term value of our token and community. We should rather learn from the history of Ebays and Amazons, who took years of fundraising before going public, working on creating the network effect that separates “one-hit wonders” from “long-term winners”.
We are extending the ICO until 27 August because the team believes that our contributors should not be punished by myopic ICO traditions and should have the chance to capitalize on the many positive developments from Ubcoin during this summer — from AI module release, to major new partners signing with the project, and new contributors.
Ultimately, 7 additional weeks are a very small price for the longer term success of the project. Moreover, what was promised to the community before July 14 date will be paid out in full, once again demonstrating that we keep our word and value your continued support.
The bounty and referral programs will continue till August 27 and we really want you to continue participating and growing our community and the success of the project!