Haven’t we all wished, at some point, that crypto would become better integrated with the more mainstream traditional financial market segments? Maybe a Cryptobanking facility? What about a mobile payment system with integrated Debit/ATM card? And yes, even passive investment vehicles such as exchange traded funds, but within the crypto-market segment.
What if, hypothetically, there was a single ICO project looking to do ALL OF THE ABOVE?
Wish no more!
The Ubonium project is looking to do everything I’ve described above, and then some.
This article is a precis of the Ubonium Project and Whitepaper, with some personal insights and comments regarding various aspects of the token sale and platform components.
Firstly, let’s review the basics of the project, then we’ll look a little deeper at some of it’s various component parts.
Token Sale Information
- Token Symbol : UBO
- Function : Exchangeable Utility Tokens
- Token Sale Start Date : 1 March 2018
- Token Sale Close Date : 10 May 2018
- Cost per UBO Token : 0.001 ETH
- Token Type : ETHEREUM-based
- Smart Contract : ERC20 & ERC223 STANDARD COMPLIANT
- Softcap : $3,500,000 USD
- Hardcap : $60,000,000 USD
- Maximum issues of UBO Tokens : 300,000,000
- Percentage sold in ICO : 70%
- Unsold Tokens : All unsold tokens will be destroyed automatically and Permanently
- Purchase Methods : ETH, BTC, LTC, BCH, XRP, DASH & FIAT PAYMENTS
As at the time of writing this article, soft cap has already been surpassed, with over USD$25 Million already raised.
The Ubonium Project is made up of the following component parts:
- ETCF Funds & ETCF Market Platform
- Ubonex Exchange
- UBOPAY MOBILE PAYMENT System
- UBOBANK CRYPTOBANKING PLATFORM
- UBOCARD DEBIT & ATM CARD
ETCF (Exchange Traded Crypto Funds)
Ubonium offers a diverse range of traded crypto funds, allowing an investor to take a diversified position within the crypto market with a single investment. Ubonium have already introduced over 8 diversified funds, with more to come in the future:
UBX - UBO Super Crypto 10
UBC - UBO Big Cap 20
UBG - UBO Big Cap 30
UBM - UBO Med Cap 30
UBS - UBO Small Cap 20
UBH - UBO High Growth
UBT - UBO Top 100 Cap
Anyone familiar with traditional exchange traded funds will be able to make out the general nature and makeup of the various funds, and specific information about the less obvious ones would, no doubt, be available from Ubonium, upon request.
Investment into the above funds can be initiated with as little as USD$50.
Unsurprisingly, given the current bear market, all of the Ubonium ETCF packages are, since their inception, in the red. I personally think it would be impossible to not be so, in the current climate.
However, as an example of how a diversified portfolio can create a more stable, less volatile investment option, Ubonium provide the following comparison:
Between 13 and 23 December 2017, Bitcoin lost 44% of its value.
Over the same period, their UBX Fund (UBO Supercrypto 10) only suffered a 13% loss.
ETCF Market Platform
Many ICOs have no MVP (Minimum Viable Product). Some have MVPs at demo mode or alpha/beta testing stage, but very few arrive at ICO with the full, live version in full operation.
Ubonium is the latter. Their ETCF Market Platform is a fully functional production-grade MVP and can be accessed at https://etcfmarket.com/.
Ubonex Exchange
Ubonex is a decentralised digital asset exchange, which operates as the hub of Ubonium’s multifaceted ecosystem, allowing funds to be moved between the various component parts:
The Exchange will be open for business from 1st June 2018.
Additionally, it was recently announced that the UBO Token will be listing and tradable on the exchange from 15th June 2018.
It will eventually facilitate an assortment of fiat and cryptocurrencies, and the other components of the ecosystem are all integrated with the exchange.
Ubopay Mobile Payment System
Androis and iOS apps will be available to allow customers to pay with either fiat or crypto. Bitcoin Ethereum and UBOcoin will be initially available, with other popular cryptos being added as the project progresses.
Interestingly, the Ubopay app will also work with other payment platforms/gateways, including Alipay, Wepay and PayPal, and with QR codes.
Account holders will also be able to access their funds in Ubobank and transfer funds to their Ubopay wallets without fees.
Ubopay will also allow Merchants to integrate it with their traditional POS system or online payment gateways through the Ubopay OpenAPI solution.
Ubobank Cryptobanking Platform
The banking platform is crypto only, not fiat. With the exception of business accounts, regular users will have access without any fees being incurred.
All funds are kept in cold wallet storage.
I am aware at least one competing crypto-card project is looking to provide some sort of shared masternode functionality for currencies that have a masternode POS mining function. While this would be a nice feature to see on the Ubonium project, the downside to that functionality is that those funds will not be kept locked away in cold wallet storage. I feel that for people who are looking for a safe storage only option, the Ubonium system is very good, as the Ubobank cold-vault is inaccessible to malicious hacking risks form the internet.
For the business customers, their Ubobank account can be integrated into their payment receipt options for their customers, who may wish to pay in crypto.
Ubocard Debit & ATM Card
The debit card will run on the VISA network and allow access to funds held in your Ubobank account. As Ubocard is a pre-paid debit card, you will also be able to load fiat currencies onto it, and access those funds from ATM’s around the world. If you only have crypto on the card when you want to withdraw cash from an ATM, the crypto is automatically converted to USD via the Ubonex Exchange.
The Team
The Team comprises a diverse and skills-complementing group of 8 individuals, who appear well-qualified to successfully bring this project to life.
So, why buy the Tokens? What do they offer the investor?
The Ubocoins provide an assortment of functions within the Ubonium ecosystem, primarily centred around fee reductions (on the exchange), waived fees (ECTF) or no fees (transferring from one component of the system to another).
There is also a mysterious loyalty programme which gives early ICO participants a lifetime membership, but there are no other details available at this time.
As previously stated above, the tokens will be tradable on the UboExchange platform from 15th June 2018, but efforts will also be made to get listings on other major crypto exchanges.
Final thoughts…
Cryptocurrencies are becoming more and more mainstream as time progresses. It wont be long before total crypto marketcap exceeds USD$1 Trillion. Having the ability to spend your crypto will become increasingly important moving forward.
The Ubonium ICO presents a very attractive package of functional components, seamlessly integrated into a well-planned ecosystem. There are a lot of positives to consider if you’re looking for an all-in-one crypto-finance project.
Links
Website: https://www.ubonium.com
Whitepaper: https://drive.google.com/file/d/1K1yStOltj5ts8tcb-48v0Aq212HIz3D0/view?pli=1
Telegram channel - https://t.me/Ubonium
Twitter profile - https://twitter.com/ubonium
Facebook Page - https://www.facebook.com/ubonium
BitcoinTalk - https://bitcointalk.org/index.php?topic=3029484.0
If you would like to hear an interview with the Founder & CEO, Kumarasen Kannan, then check out this YouTube video…
I am not a financial analyst. The above information should not be construed as financial advice and is not intended as financial advice. Always do your own research before investing in anything. The price of UBO tokens may be volatile once listed on any exchange, and purchasing cryptocurrencies can be a high risk activity.
If you’re looking for other article reviews by this author, please check out this Telegram channel: https://t.me/aussiesloth_ico
Proof of ownership - ETH address: 0xcE497066921f8aE00d1128d8B9cA105f025DF210