The UTI public chain, called Unicorn Solutions Chain, is a blockchain-based incubation platform that aims to create a global ecosystem for consumer goods and payment. As announced a few hours ago, its utility coin (UTI) is set to be launched and listed on the MXC exchange.
What’s even more exciting, is the trading competition that’s about to commence to celebrate the coin’s exchange listing.
What is UTI and UTI Coin?
UTI stands for Unicorn Technology International, an incubated project of Sora Ventures, one of the leading incubators in the world.
According to MXC, the project is rooted from a business based in Thailand and Malaysia, which mainly deals with the “Doctor Best” product series via retail and direct selling.
For now, the UTI coin can be used to purchase Doctor Best products and traded against BTC and other cryptocurrencies.
The UTI chain is a structured ecosystem that blends two of the most ground-breaking technologies of the century: blockchain and 5G. It is designed to augment the cutting-edge internet of things (IoT) to solve critical issues on security, authentication, compliance, and interoperability.
What can it do?
The first application of UTI is to re-engineer traditional supply chain systems.
As a decentralized database, it enables the storage and tracking of all transactions that have, and will ever occur in a shared ledger.
This means that we can trace the life of each component of a product as they move across the world; from raw material provider to manufacturer, to distributor, to customs, via all the elements of the supply chain, until it reaches the retailer.
But that’s only one section of this multi-industry solution.
As an incubation platform, it will enable businesses to grow or build consumer products across vast industries, with a streamlined process of tracking assets and compliance, facilitating B2B and B2C payments, preventing fraud and counterfeit products.
All this inside a fully transparent immutable ledger.
In the future, UTI aims to expand its reach to other high-tech industries like CBD, optoelectronic chips, AI, and other high-tech applications.
UTI Listing and Rewards
To celebrate the launch of the coin, MCX and the UTI project team will hold a trading and ‘net-buy’ competition starting 20:00 (UTC+8) April 25 up until April 30.
During the competition period, the top 10 MCX users with the highest UTI trading volume will be rewarded:
- 1st place: 300 UTI
- 2nd place: 200 UTI
- 3rd place: 100 UTI
- 4 – 10th place: 50 UTI/each
In this competition, the top 100 MCX users with the highest net-buy amount will receive the following:
- 1st place: 400 UTI
- 2nd place: 300 UTI
- 3rd place: 200 UTI
- 4 – 10th place: 100 UTI/each
- 11 – 50th: Share 900 UTI based on the proportion of their net-buy amount respectively 51-100th: Share 600 UTI based on the proportion of their net-buy amount respectively
Even if you don’t win you can still receive airdrop proportional to your net-buy amount as long as you participate in the competition. To join, visit MCX.
Guest: UTI CEO, William P’NG
I’m the CEO of UTI from Malaysia.My name was William P’ng.Happy to be here.
UTI is the 2020 incubated project of Sora venture, Sora venture one of the top incubator all over the world. They only incubate 1 project every year, after 2018’s hottest project mithril, and 2019 top 1 most popular project all over the world Origin protocol, and now 2020 UTI has been incubated out with all industry attention.
At first I introduce the person who is Jason from Sora venture—Sora CEO Jason : as all know, sora is very straight towards projects incubation and investing, we are attracted by the fact that UTI is backed by a fast growing and legitimate real business with a real token use case. UTI will continuously growing and attract, turn over more crypto users for the industry.
Secondly who I wan to introduce is Andy Chueng okex former COO—Andy Cheung former OKEx coo:
With past years working experience in the industry, we tend to see that good projects that surveyed rounds of bear market are only two types technology focused and a real business supported. Obviously we see UTI as the second case. Direct selling loyalty system is always the fastest way of growing customers and users. UTI team are full of very well experienced people from the industry, I believe they can do a great job towards the customer education and serve with a high turn over rates towards bringing more users in the crypto industry.we have lots of supports and good voices from the top people from the industry.
Questions from community:
Molly: Q1.What is the role of UTI token in UTI project ecosystem? What are the beneficial usecases of UTI ?
UTI is backed up by a real business which concentrating on retail and direct selling loyalty system based in Thailand and Malaysia with series of products from doctor best which contents legalized portion of CBD ingredients with license approved of selling from local government. The direct selling system and product ecosystem of the real business is handled by the original team which has successfully pushed out Riway in all south Asia. The more product customer purchase through direct selling system the more UTI token they will be return with for purchasing more products or cash out it to usdt or any type of main stream coin.
Molly: Q2. UTI is a structured ecosystem that combines the latest blockchain technologies with 5G telecommunications. So what are the advantages of combining with 5G telecommunications as well as solving problems? What strategies does UTI have to develop community and retain users in the long run?
5G technology has always been the hottest topic over years. Online selling or buying has already became a trend in South Asia. But specifically having a “ low cost business been managed on the phone of course requires better net working and this market is already very strong in China but not yet in many other places in south Asia. Instead of saying we are selling a specific product in Thailand I would rather look at it as we are pushing out a already matured business model in China to other countries that’s a bit left behind on this revolution.
As for users end. We spend more effort towards bringing in new crypto users through our loyalty direct selling system by educating them with the UTI use cases not only been limited to product purchasing. But exchanging. We started with 10000 top sale from riway with reflects to more than 20 million people under them. I believe a double turn over rates monthly from the real business will drive the liquidity and the token community expanding.
Molly: Q3.Next phase of blockchain adoption will be coming from the Defi space. What is your view on this? What are UTI plans for Blockchain’s mass adoption?
I believe it’s very true.As for us we are looking for and always open minded for the most trendy adoptions.
Molly: Q4.Currently the UTI coin staking is not yet available at MXC, are there any plans to create a UTI coin stake program? if so, will it affect the price and circulation supply of the UTI coin at the MXC?
As for staking so far we do have it as part of the plan.And I believe it surely will not affect the over all picture especially with token like UTI which has a real using case with real world users.
Molly: Q5.Can you briefly explain how the Top milestones that the UTI team aims to execute before the end of this year or going to execute in future, will help UTI succeed and What UTI may look like in 2020 and beyond?
I have already acquired the license of permission of selling doctor best product in Thailand and Malaysia. We will focus on expanding the market through retail and direct selling system.
But at the same time we are applying for the permission of selling in Japan now. Aim to have the real business launch in Japan by Q4 2020.
A none stop expanding rates and reliable real business is what shows a project will last long.
Q1.Can you tell us the motivation and benefits for investors to hold $UTI token in a long term investment and What plans do you have to help drive demand and scarcity for the token?@Brookz0000
UTI’s circulation will always be controlled as secondary market and products selling as burning plan.We are expecting a double flip of our real business customer every month. We started with 10000 top rank sale. And we will also start our crypto currency which is UTI ‘s exchange education.I believe will have more real business customer turn into our crypto user and UTI token holder.
Q2.There are many rules and regulations on cryptocurrencies and exchanges. How can the UTI platform face these problems?@Srintiel
As for reputation we always believe it builds on time and efforts. We have two teams one concentrate on the real business and the other specifically work on the crypto. We had the real business going before we have the token. We reject anything that’s empty and we do our business with all license and legalized in the local country.
Q3. For each project, community factors contribute to the project’s success. So, what strategies does #UTI have to develop community and retain users in the long run?@limsentau
In our loyalty selling system. We have a specific online and offline course to educate our users to not only just use UTI to purchase the product. But also to guid them to the crypto world. That’s why we only aim for top tier exchange listing.Cuz exchange reputation matters as important as ours. And with Mxc I believe with all of our investors and incubators strongly suggest. I believe it will be a huge blast in the market for us to launch and soon all users will see where UTI head to. I like to do things low key.
Q4.What would be the main reason why should we choose UTI to invest our funds and not other similar projects?@LoveLessYou
Can the similar project in your month provide you with the license and permission of selling and real product as they claim they have. You are more than welcome to leave your address here I will ship some doctor best product for your test out.
And right now we are under applying for the license for selling doctor best in Japan. And plan to build a direct selling ecosystem as well.
Q5.The total supply of UTI is 200,000,000 UTI. Does UTI have plans for buyback and lock-up of tokens and community tasks/activities to raise awareness and bring mass adoption?@mikurana
As for UTI we only plan to have 30% of the token as circulation for the secondary market for 5 years. Those will be released slowly within 5 years. The rest will be mainly used for our real product customers. We look forward to see more none crypto users / product users turn into UTI token holders.
MXC trading: https://t.me/MXCtrade