Utrust, now rebranded as xMoney, is an innovative player in the realm of secure and efficient crypto payments. With a strong focus on user-friendly solutions, this payment provider strives to create a seamless bridge between traditional commerce and the world of digital currencies. Through their platform, businesses and individuals can effortlessly transact using cryptocurrencies, making it easier than ever to embrace the benefits of digital assets.
What is Utrust
Utrust is a blockchain-based payment platform that allows users to make fast and secure transactions using cryptocurrencies such as Bitcoin, Ethereum, and Utrust's native token, UTK. By leveraging the power of blockchain technology, Utrust provides a decentralized payment solution that eliminates the need for intermediaries and traditional banking systems, ensuring a transparent and secure payment experience.
The Utrust team
Utrust has assembled a team of experienced professionals with extensive knowledge in the blockchain and fintech sectors. At the helm is CEO Nuno Correia, who has been involved in cryptocurrency markets and communities since 2011.
How does Utrust work
Utrust functions as a payment gateway that enables merchants to accept cryptocurrencies as payment. By integrating Utrust's payment solution into their existing systems, businesses can effortlessly facilitate crypto transactions while ensuring buyer and seller protection. Utrust uses smart contracts to establish trust between buyers and sellers, holding the funds in escrow until the agreed-upon conditions are met, providing an added layer of security and eliminating the risk of fraud.
Utrust’s native token: UTK
The Utrust ecosystem has its own native token named UTK. It serves as a utility token that enables users to access various features and benefits. Holders of UTK can enjoy discounted transaction fees, participate in platform governance through voting, and unlock additional perks and rewards within the Utrust ecosystem.
UTK tokenomics
UTK has a total supply of 500 million tokens, with a significant portion allocated to the public through token sales and community initiatives. The token has a deflationary model, with a portion of transaction fees burned regularly, reducing the overall supply over time. This burning mechanism is intended to generate scarcity for UTK, which could potentially contribute to an increase in its value.
UTK use cases
UTK serves multiple purposes within the Utrust ecosystem. Apart from enjoying discounted transaction fees, UTK holders can participate in decision making processes by voting on key platform upgrades and developments.Token holders also enjoy exclusive perks, such as early access to new features, priority customer support, and participation in a loyalty program that rewards active engagement within the Utrust community.
UTK token distribution
UTK tokens are distributed as follows:
- 44.64 percent: Set aside as community rewards
- 32.14 percent: Sold to the community
- 16.08 percent: Advertisement and marketing of Utrust
- 3.57 percent: Team and advisors
- 3.57 percent: Locked in the Utrust’s decentralized autonomous organization (DAO) treasury
The future of crypto payments with Utrust
Utrust is a rising star in the crypto payments arena, offering a secure, transparent, and user-friendly platform for conducting cryptocurrency transactions. By harnessing the power of blockchain technology and integrating UTK as a utility token, Utrust is paving the way for the seamless adoption of digital currencies in traditional commerce.
