Token Supply and Distribution

With our token launch, we will jumpstart the Utopia Genesis Foundation’s development of its ecosystem. We want to generate user adoption with bonuses - in the form of a price discount - provided to early investors and sometimes with a short lock-up to help improve market dynamics and stability.

Utopia’s Tokens Vesting Schedule

(Tokens in circulation over time)

graphic

Day1 IEO (not available)

Day60 Catalyst Sale 1

Day120 Catalyst Sale 2

Day180 Catalyst Sale 3

Day240

Day360

Day 720

Day 1080

Day 1800

Total Supply

We will mint 100M tokens. The estimated market cap will be of 3.8M USD, and they will be distributed in various ways. The price at the start of the token sale will be 0.32 USD per token.

The token will be a native currency on the Utopia POA Blockchain and a 1:1 bridged ERC-20 on the Ethereum Protocol. The bridge makes it easier to use the tokens on Ethereum, where you can use it for collateral or other purposes.

Out of the minted tokens, the tokens will be allocated as follows:

Utopia Music

30M tokens will be in possession of Utopia Music AG through payment of token project and shareholders.

Private Sale

5M tokens will be sold in the Private Sale.

Public Sale

25M tokens will be sold in a series of four token sales.

Foundation Vault

40M tokens will be held in the Foundation Vault to support the Foundation projects and development. The Foundation Vault will deposit 25% of the staked tokens into the Genesis Vault, to be controlled by the Decentralized Autonomous Organization (DAO)

Lockups

Tokens in the possession of Utopia Music AG have various lockups. Tokens allocated to the team will be locked up for 60 months. A vesting period will start a year after trading begins on an exchange. For the shareholders, there will be a vesting period after six months and be ongoing for 60 months after trading on an exchange starts. The Foundations tokens will also be in various lock-ups. For more information please refer to the data above.

The DAO and the Genesis Vault

Token holders that are staking will be participating in a DAO controlling the Genesis Vault. The Utopia Genesis Foundation will deposit a number of tokens, taken from the Foundation’s tokens – equal to 25% of the tokens staked – into the Genesis Vault. There, it will be managed by the DAO. Part of these tokens will be used to purchase tokens issued by the Genesis Application, thereby supporting emerging artists selected by the DAO as described below. Additionally, as a pre-screening process, the DAO participants will vote to choose who will be onboarded on the Genesis Platform. This process will ensure applicants quality before the commitment of the Foundation to engage in the necessary legal procedures.

Token Staking

Users will have the option to stake their UOP Tokens, meaning they can block the use of these tokens for a certain amount of time in exchange for interest. There is a minimum lockup period before interest on all staked tokens can be claimed and all staking rewards are paid out in UOP Tokens. This is done with the simultaneous aims of both showing users the real potential available via the Foundation and its Tokens, as well as helping stabilise the market dynamics

Third party developers are required to stake Tokens in order to gain access to the UOP databases and tech service offerings and develop their own applications. This form of staking will be exempt from any rewards as it is simply considered a deposit payment placed for access to the API. Furthermore, should a developers application be rejected by the validators, the stake placed will be refunded. This is to ensure that developers feel the freedom to experiment and not fear failure, as this is the mentality that will help unchain the creative potential of the community.

Other than this exception, any user can stake Tokens and benefit from the APY rates set. However, staking users will also be rewarded in another form, one which encourages them to become actively participating members involved in the governance of the Genesis application. Staking investors are automatically becoming a part of the DAO. They need to vote to keep the higher % of APY. This is done to ensure that people who stake are also active in the Genesis community. The number of votes that a user will get depends on the total number of UOP Tokens they have staked.

Year 1

First Year – the reward is set to 40% Annual Percentage Yield (APY). A minimum lockup period of 3 months will be enforced to ensure price stability. To fully claim the reward, one must stake his tokens for 12 consecutive months. If staked for a shorter period of time, a proportional rate will be applied to compute the APY. The reward is paid out in UOP Tokens.

Year 2

Second Year – the reward is set to 20% APY. The minimum 3-month staking lock-up period remains in place. The reward is paid out in UOP Tokens.

Year 3

From the Third Year – the reward is set based on a fixed % of the fees collected by the Genesis Application and Delta for Genesis. The reward is paid out in UOP Tokens.

Furthermore, UOP allows anyone, by the approval of the Foundation, to build and launch applications on top of UOP. To be able to use it, developers must stake UOP Tokens to the Utopia Genesis Foundation. These tokens are not attributable to the reward program.

Use of Funds

Allocation of Funds from the sale of 30% of our total Token Supply as follows:

  • Operations 20%
  • Product Development 45%
  • Business Development 20%
  • Marketing 15%

Operations

development and maintenance of current and new products

Product Development

cost of operations; offices, salaries, licenses, hardware and software

Business Development

identify, attract and acquire new business partners for the foundation’s growth and goals

Marketing

boost brand recognition as the music platform around the world