Utrum Token Transparency Report
At Utrum we believe our most valuable currency is Trust.
As we build a platform for trust in cryptocurrency, we believe in the importance of demonstrating our trustworthiness as a project and team. It’s been several weeks since we successfully completed our dICO (crowdsale) and reached our Soft Cap…and in that time we’ve been making major progress on the Utrum Platform and Wallet.
In this report we want to walk through the steps we took in early May of 2018 to transparently demonstrate our follow-through on our Whitepaper Fund Locking goals and several other “house keeping” action items taken in full transparent view of the industry.
It is in this spirit of trust and transparency that we are reporting on both our foundation status and Utrum OOT Token distribution and locking funds.
Utrum Foundation Cayman Islands Official Registration
Official as of April 24, 2018, Utrum is now registered as Utrum Foundation in the Cayman Islands. Details of this registration can be found at the Cayman Islands government companies registry search portal here.
OOT Token Distribution and Time-locking
In this Transparency Report we’ve outlined the precise breakdown of OOT distribution which has now been completed.
We encourage you to compare our distribution chart with the transactions following. Each transaction has a description for you to compare with the chart and a link to the actual transaction on the OOT Blockchain.
In addition, we’ve linked the source code used in the locking mechanism for funds locked, e.g. team tokens, as well as the timestamps so you can see the exact time of each applicable time-lock.
If you have any questions about this report please reach out to us on Twitter, Telegram, Facebook, Reddit, or our Helpdesk!
Planned Token Distribution Chart
Before we get into the report and list of actual transactions carried out on the OOT Blockchain, for your reference following is the chart of our planned Token Distribution Budget.
As of May 5, 2018 we have executed this plan, details, amounts, and transaction links for your reference and complete transparency are found later in this post.
Relevant Token Basics
- Token Symbol: OOT
- Token Classification: Utility
- Token Blockchain: Utrum Asset Chain, Komodo Fork
- Total Supply: 216,000,000 (+ mining rewards @ 0.001 OOT)
Token Breakdown
As you can see in the chart, the breakdown of token distribution is as follows. Please note, the 1% for the SuperNET Private Sale is drawn out of the 10% for Crowdsale. Numbers are based on the Total Supply of 216,000,000 OOT.
- Content Rewards Reserve: 129,600,020 (60%)
- Development Team: 32,400,000 (15%)
- Operations Reserve: 32,400,000 (15%)
- DICO, Bounty and Referral Tokens: 21,600,000 (10%)
Time-locked Token Distribution Transactions
The following completed transactions are distributed OOT tokens which ARE time-locked. One of the key signifying marks of a time-locked wallet is the wallet address, which begins with a “b” when time-locked.
Each transaction can be verified below with the associated “b” wallet address and time-lock release date, according to our token lock schedule. We screen recorded the lock session and have posted the video below for full transparency of timestamps and expiration placed on each transaction.
Token Time-Locks (Calculated from May 5, 2018)
The following time-lock schedules have been invoked as of May 5, 2018 and as seen in the following screen capture.
- Operations Reserve:
700 Days (Released Apr 2020) - Development Team:
(33% Released Per Release Round)
Round 1 — Released Nov 2018
Round 2 — Released Oct 2019
Round 3 — Released Oct 2020
Of the Total Supply of OOT, 30% is being time-locked as follows.
15% of Total Supply = Development Team
The Developer Team tokens are released according to our schedule
- 10,800,000 OOT : Nov 2018 : bXeNVjepMXtX8LCmUd5FQHdgPpYZHXGkfs
- 10,800,000 OOT : Oct 2019 : bSKFwLKU3Z2xbZQiw3qwjqVthC86uZsPHb
- 10,800,000 OOT : Oct 2020 : bKdvjbokWTBHXF7AB1j3rzxUYWR7NcW3vC
15% of Total Supply = Operations Reserve
- 21,600,000 OOT (10%) : Apr 4, 2020 :
bHf8fz9XsxVfrSy83MpMYFfqfAC3HaS6fN
- 10,80,0000 (5% Unlocked)
RAszYAUiCMtce9XedEwKaADrqvkUW1NNkZ
50% of Total Supply = Content Rewards
RS6zKrRR9iTgiNx95UmTANxYJUjupHNUAz
10% of Total Supply = OOT Holding Rewards (7.2% per year)
RJG4KEsr5gwAe3STRbzzXnTJhZnoucsESG
Time-lock Mechanism Used
Utrum’s OOT token is built on a Komodo forked blockchain. Utilizing the CLTV Timelock feature our team has sent OOT funds to time-locked wallets signified with a leading “b” for each wallet address, according to our time-lock schedules.
In performing this function our founder Sridhar executed each time-lock function using command line interface, as seen in the screen recording above. For those who want to dig deeper and take a look at the code behind the scenes on this time lock, to verify authenticity and ensure the time-lock function is performed in an irreversible way, you may access the source code at the following GitHub by Komodo Platform.
If you have any questions please feel free to contact us via our Helpdesk or one of our social channels.
