Upcoming UTU Coin Releases — October 2021
Advisor, Growth Round, and Friends and Family token releases are coming soon.
In April 2021, we published a blog post about updates to the tokenomics and release schedule of UTU Coin, which included our token allocations, release dates, and more.
In the spirit of trust and transparency, we are highlighting some upcoming token releases that you should know about.
Advisor Token Releases
We will begin the release of tokens to our advisors on October 31, 2021.
We have allocated 100 million $UTU (10% of the total supply of 1 billion) to our advisors who continue to support us. You can see all allocations in the table below.
Around 4,166,667 tokens will be released each month starting October 31, 2021 until September 2023. These tokens will come from our Team and Advisor wallet, 0xee0e833ac9227171e9febf3f665fdec57595660f.
While we cannot guarantee what they will do with their tokens, we have spoken to some of our advisors with the largest token allocations and they’ve communicated that they will HODL their tokens as we continue to build our products.
Growth Round Token Release
Also starting on October 31, 2021, we will begin to gradually release 100 million $UTU to help expand the UTU ecosystem.
The release dates and amounts will be as follows:
- Around or on October 31, 2021–25 million $UTU
- Around or on January 31, 2022–25 million $UTU
- Around or on April 30, 2022–25 million $UTU
- Around or on July 31, 2022–25 million $UTU
The use of these tokens may include but is not limited to:
- Promotion of mainnet launch (planned for Q1 2022).
- Possible centralized exchange (CEX) listings, market making, and other increases of liquidity.
- Grants, bounties, governance, and other community initiatives.
These tokens will come from our Growth Round wallet. These tokens were already budgeted for growing the UTU community and ecosystem, and we are just unlocking them so we can deploy the funds when needed. We will be sure to use these tokens prudently and only when necessary.
Final Friends and Family Token Release
This one is a few months down the road, but the final Friend and Family token release of 431,561 tokens will be released in January 2022.
Circulating Supply Over the Next Few Months
All of the above releases will become part of the $UTU circulating supply, which will look this over the next few months:
Conclusion
We hope that this token release information has been helpful. We understand that token releases aren’t always the best news, but we believe that they are necessary to support growth and expansion. And of course, we believe that being transparent about these releases is the best route to take.
You may have questions about these releases, and we will address them. Stay tuned for more news about AMAs or other events where we can answer your questions.
For more information, please refer to our blog post about tokenomics and release schedules, and the UTU Coin page on Etherscan.
Thanks so much for your support!
Originally published at https://utu.io on October 27, 2021.
