Ask Me Anything (AMA) with Utopia
Last night, Utopia and Crypto Talkz held a successful AMA session together! We really appreciated the interview with Crypto Talkz!
Thank you all for participating in the activity and giving out so many interesting questions!
In case you miss out the session, Utopia has recorded it and will publish them here!
Everything you need to know about Utopia is here!
1. Could you start by introducing yourself and perhaps regarding the key team behind Utopia to us? What kind of backgrounds do you guys have prior to Utopia?
First, we would like to say thank you all for your interest in our project.
Our team’s unanimous dedication and the grand goal is to create an open-source metaverse with a vibrant ecosystem.
Due to the natural sensitivity of tax-related problems, some information about our team members has to remain private so that they can be 100% percent committed to the program development.
However, our team mainly consists of software developers. Every member of the core technology department has worked as a senior software engineer in renowned tech companies worldwide like Google and Amazon with more than 10-year experience in blockchain development.
2. Can you give an overview of Utopia as a whole? What’s the project about and what kind of underlying issues do you see within the crypto market, in general, to get into the segment? How do you intend to solve those issues?
Utopia is a metaverse project that transforms everything into blockchain. But Utopia is not just a metaverse. It is essentially a parallel universe. A parallel universe means that through Utopia, we can have the second, third, and Nth lives, where we can have a variety of brand-new identities, assets, social relationships, and complete life and social activities.
Since the Utopia universe uses Ustablecoin as a universal currency, users also obtain the benefits while using Ustablecoin. Users don’t have to worry about volatile earnings when playing with apps. The label is essentially to ensure the stability of returns, and eliminate large fluctuations in returns.
Most metaverse projects only work in a certain area, such as GameFi. For user investment and entertainment, once the service is stopped, the value of the token will fall sharply. In addition, users need to purchase various tokens to participate in multiple ecosystems. Utopia can solve all these long-lasting problems in the industry for years.
3. May I ask at this point, do you already have some partnerships lined up?
We have been working hard on our promotion in the market. Utopia has established collaborations with prominent blockchain institutions such as CoinGecko, CoinTelegraph, PancakeSwap, Binance Lab, etc.
4. So, How important is the community to your project? and How can we collaborate or help share token for the development of the project?
Utopia has always set our community as the top priority since the beginning. We believe that any project cannot succeed without a healthy and constantly evolving community. Community’s demand is our mission.
Utopia will reward our community users via many innovative and inclusive ways, including but limited to airdrop, ambassador program, etc.
We have developed a solid fan base and received a high demand from them. Many users show the desire to participate in the project and invest in Utopia before our official launch. We’ll be launching our whitelist program. Top 1,000 users will get exclusive opportunities for IDO presale.
5. And also, Could you please provide some progress on your Roadmap and what results Utopia has achieved so far?
Marketing Updates:
Applicants of the Utopia Ecosystem Program: 9
Utopia Ambassador Program participants: 130
Twitter followers: 4060
Telegram subscribers: 2860
Here is Utopia roadmap:
Q1 2019:
- Architecture development
- Utopia chain design
AUG 2020 ：
- White Paper
- Smart contract development
MAR 2021 ：
- Website launch
- Smart contract development
- Testnet V1 launch
Sep 2021 ：
- Testnet v2 launch
- Bug bounty
- Contract audit
Dec 2021 ：
- Utopia Mainnet launch
- Utopia NFT launch
- Utopia Blind box launch
- Utopia Trading card game launch
- Utopia NFT Marketplace launch
- Multi chain development
Q1 2022：
- Ecosystem building
- Multi chain launch
- Utopia Chain development
- Utopia DEX development
- Utopia DEX launch
- Utopia Land Game development
- Utopia Land Game launch
Q2 2022：
- Utopia Money Market launch
- Utopia Chain development
- Utopia Chain: Testnet release
6. UtopiaCoin is the first-ever project that utilizes stablecoins as its ecosystem token. So why don’t you utilize unstable tokens like other projects usually do? what are the advantages with utilizing stablecoins?
Since the Utopia universe uses Ustablecoin as a universal currency, users also settle the benefits while using Ustablecoin. Users don’t have to worry about volatile earnings when playing utopia ecosystem apps.
The user’s earning is stablecoin, and the value claimed at any time is the same, and no big loss.
It ensures the stability of earning, and eliminates large fluctuations in returns.
7. All apps in the Utopia metaverse are governed by one governance token (UC). Governance token holders can obtain voting rights for governance proposals by exchanging UC, so can you please specify that? And will users hold any minimum amount of UC to be eligible to make decisions?
Consistent with Curve.fi, governance token holders can obtain voting power for governance proposals by locking UC to get veUC. Those who hold veUC, called voters, can obtain UC rewards, collateral asset liquidation fees, stability fee income, and application income.
There is no minimum amount.
8. How does Utopia differ from Bloktopia? It is a very near future, metaverses will be a highly competitive field. So, how can Utopia make differences or in any case unify each of these metaverses ecosystems creating an infinite blockchain universe?
Most metaverse projects only work in a certain area, such as GameFi. For user investment and entertainment, once the trend changes, the value of the token will fall sharply. In addition, users need to purchase various tokens to participate in various ecosystems.
As a real metaverse, the total supply of UC is 21 million, it is deflationary. Utopia will develop and introduce a variety of mainstream applications, with blockchain, NFTs, digital assets, artificial intelligence as the underlying technical support, build a multi-scene entrance of the metaverse world, which will be covering games, socials, sports, education, economic system and other multi-dimensional, all-round improve user experience.
9. In how many ways or what are the ways your project generate revenue? What is the revenue model? How it can be beneficial for both investors and for project itself?
With the continuous development of the Utopia universe, the Utopia universe ecology will include games, decentralized exchange, decentralized lending, NFT markets, and other financial services. Utopia will occupy a place in the entire decentralized financial markets.
10. What will Ustablecoins do in the Utopia ecosystem? How many roles can users play in the Utopia metaverse? What make you think Utopia is a strong contender for the long term investment?
In the Utopia parallel universe, Utopia stablecoin (Ustablecoin) is the only universally legal stable currency. Like DAI but better than DAI, it adopts a 110% excess margin system and is based on mainstream loan coins such as BTC and ETH to generate a variety of real legal currencies that are linked to Ustablecoins, such as UUSD, UEUR, UAUD, etc. All Utopians can participate in all activities in the Utopia universe by utilizing Ustablecoins, including but not limited to GameFi, DEX, decentralized lending, NFT marketplace and other economic activities.
There are five roles in utopia metaverse.
Each user in the Utopia ecosystem can play one or more of the following roles, and each role has different financial and systematic incentives.
Producer: In the Utopia universe, users who deposit collateral assets and generate Ustablecoins are called producers, and they can get UC rewards and reinvest income.
Protector: Protectors can obtain liquidation income by providing Ustablecoins to Moat Pool, which is called as protectors, and can obtain UC rewards and collateral asset liquidation fees.
Utopian: In the Utopia universe, interactors who use Ustablecoins to participate in various applications in the universe, including but not limited to games, decentralized lending, NFT markets, and other economic activities, called Utopian, can obtain Ustablecoin revenue.
Adventurer: In the Utopia universe, adventurers can obtain high returns by providing liquidity to UC LP / Ustablecoin LP / NFT LP, etc., including UC rewards, collateral asset liquidation fees, and application income.
Voter: Governance token holders can obtain voting rights for governance proposals by locking UC to get vcUC. Those who hold vcUC, called voters, can obtain UC rewards, collateral asset liquidation fees, stability fee income, and application income.
More than 90% of our team members are engineers, and the continuous development of new features and new apps is our core competitiveness.
11. Something that caught my attention is that Utopia uses stable coins as ecosystem token so could you tell me why they made this decision and how this benefits the whole Utopia ecosystem? In the future do you plan to develop your own token?
Utopia universe uses Ustablecoin as a universal currency, users also settle the benefits while using Ustablecoin. Users don’t have to worry about volatile earnings when playing utopia ecosystem apps.
It ensures the stability of returns, and eliminate large fluctuations in returns.
We have a dual token system, Ustablecoin and UC.
12. For a project development first of all main priority is having enough fund. Does your team financially capable to run this project? Do you have enough fund for it is developement Can you tell us that how your project generate the profit?
We have millions of funds to support our development costs for several years. All fees of Utopia’s ecosystem will be divided into Utopia DAO, such as GameFi, DEX, NFT marketplace, etc.
All apps in the Utopia metaverse are governed by one governance token-UC. Utopia can get a steady stream of eco system incomes.
13. Sir I want to buy your token. is it listed
#pancakeswap?
#Binance 🙏🙏
#Kucoin 🙏🙏
#MEXC OR Any Exchangers??
Where can I buy your tokens now?? Can you tell us please?
Token(UC) is not issued yet, currently, you can get UC by participating in our airdrop, ambassador program, whitelist program, etc.
Airdrop link:
https://twitter.com/UtopiaCoinOrg/status/1462619753848000516?s=20
Ambassador program link:
https://twitter.com/UtopiaCoinOrg/status/1463344985399459844?s=20
Avatar Design Contest link
https://twitter.com/UtopiaCoinOrg/status/1465148342464253954?s=20
14. Where is the real real road map now? Does all the goals according to the current road map? And what can be the next step in the future Sir?
The roadmap link is here
https://utopiacoin.org/The_Utopia_Protocol_Whitepaper_.pdf
This photo is the next step in the future.
15. In decentralization, We all know that speed is needed, as is the current problem faced by the expensive ETH Gas Fee and the slowing of the transaction process. what are your plans to deal with this problem?
We will launch Utopia at Binance smart chain this month. In 2022, we will launch a public chain named Utopia chain. Utopia chain is a high TPS financial aggregation public chain based on threshold signatures.
Where to find more about Utopia?
Stay tuned by visiting the following official channels.
Or simply drop an email info@utopiacoin.org.
Utopia believes that together we can build a metaverse where everyone can reach their full potential and explore infinite possibilities with each other. We’re looking forward to hearing from you soon.
