Hi guys, holder here. If you are in from ico, no reason to do anything unless cash is needed. Currently there is lack of value in crypto for consumers. utrust is providing this which is truly helpful for mass adoption + there is huge value for businesses as of chargebacks. Very solid. Just my 2 cents.
I wanted to ask how are utrust tokens used inside the platform? When you connect your wallet you should first convert crypto to UTK tokens to have available balance for shopping or does it happen automatically so that it will pick the amount from one of your wallets and converts to UTK and then to fiat?
Also, utrust seeing increased usage, isn't there demand increasing for UTK within the platform? If there is 1 million $ payments through utrust on ecommerce, utrust volume would be 1 mil?
What happens when utrust converts tokens to fiat for the merchant. Do the tokens go back into circulation?
My apologies if it's explain within the whitepaper.
Thanks and keep waiting. We have been only on the market for some days.
"Each time a buyer pays with any cryptocurrency via the UTRUST payment platform a percentage of the
transactional fee will be used to buyback UTK and to remove them from the market.
The removed tokens will be burned. This will reduce the amount of UTK supply
further driving demand, the adoption of the platform and the value for contributors.
The amount of UTK was projected to be reduced from the initial 1 billion to a
minimum cap of 100 million, at a rate no faster than 50 million a year. Considering
that the total amount of tokens was reduced upon the extension of the ICO, this
reduction will be prorated.
The higher the volume of transactions in the UTRUST platform, the higher the
potential market value of the token. A percentage of the transaction fee will be
removed from the pool in each market transaction, and the more the UTRUST
platform is used (with any supported crypto-currency), the further the supply of
UTK will decrease, a built-in adjustment that acts as our self-stabilization
mechanism. "
Thank you for pointing this out. Real value product, early investors trust it and get price higher, product updates and launches will drive it further and for the cherry on the top the usage of the product drives demand further.
