Uulala ICO Review
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What Is Uulala?
Uulala envisions engineering and accelerating the access to financial services by underbanked and unbanked communities, majorly covering the Americas. The US-based cooperation has its roots traced back to 2016, with a majority of its shareholders originating from the first or second generation of Latin Americans.
In the full realization of its set milestones, Uulala will empower the under-banked communities across and beyond the Americas with robust financial tools to make various remittances, participate in various e-commerce activities, while at the same time elevating their building their credit status.
The project aims to drive change and elevate the financial experiences of cultures such as Latino, that does not trust the traditional banking systems by providing them with a platform where they will perform secure financial transactions. This is coupled up with access to shopping and entertainment amenities that such populations didn’t easily accessible due to their underbanked status. In simpler terms, the unbanked and underbanked communities via the Uulala platform will enjoy the most popular financial transactions including instant money transfers across the globe between dependants and employees at significantly low fees, payments of bills, and access to microloans for users with no credit history.
Uulala ICO Main Features
Uulala financial services will bridge the gap between money and technology in the underbanked communities through:
- Facilitating domestic and international wallet-to-wallet, wallet to network, or wallet to financial institution transfers.
- Multi balance capabilities with banking services offered at low monthly fees, top programmes, and billing services capable of making payments for people from other countries.
- Digital credit based on bill payments, remittance charges, and purchases that will contribute to the users’ global credit score. In essence, users will build their credit profile based on their active use of the Uulala financial systems.
- Cash rewards where users have the ability to get a percentage of all their purchases back. For all kinds of remittances made, users will have their wallets linked to a MasterCard Prepaid Card where the rewards that can accumulate as high as 6% will be remitted.
- B2B payment services that will include payrolls, gig economy payouts that involve short-term contracts or freelance works, contract payments, sale organizations global commission payouts, and much more.
Uulala ICO token sale
The Uulala ICO public token sale was scheduled to begin on 21st April 2018 and end on 31st May 2018. As per Uulala’s roadmap, there will be a total of 750 Million Uulala Tokens. The public sale was allocated a total of 125,000,000 tokens. The initial USD 5,000,000 or equivalent holds a value of 13 cents per token, USD 5,000,001-USD 6,999,999 or equivalent holds a value of 17 cents per token, and USD 7,000,000-USD $25,000,000 or equivalent 28 cents per token.
The company scheduled a private token sale (that began on 15th November 2017) on a wholesale basis for large volume investors and authorized affiliate dealers. The initial $2,000,000 worth of tokens were sold at 2 cents per token, $2,000,001 – $4,999,999 sold for 4 cents per token, and $5,000,000 – $10,000,000 for 6 cents per token. There is, however, no information available about how much the company raised on the private token sale whose hard cap stood at 10 million dollars and token allocation 250,000,000.
Dated after the private token sale was the prepublic token sale (that began on 25th March 2018) with a token allocation totaling 125,000,000, valued at a hard cap of $15 Million. The initial $3,333,333 or equivalent sold at 0.08 cents per token, and $3,333,333 – $10,000,000 or equivalent for 0.12 per token. There is, however, no information readily available about how much the company raised during the prepublic token sale.
These metrics can be broken down as:
- 33% (250,000,000 tokens); pre-crowdsale purchasers.
- 33% (250,000,000 tokens); Crowdsale purchasers.
- 10% (75,000,000 tokens); Incentive community, user adaptation & strategic partners.
- 10%: (75,000,000 tokens); Appropriate investors and early founders.
- 14% (100,000,000 tokens); Users of the Uulala platform
Any unsold tokens on the pre-crowdsale were carried forward to crowdsale. Whatever will be left over from the crowdsale will be passed on the Uulala user’s platform.
Token Distribution metrics
- 50%: User acquisition
- 10%: Development
- 10%: Founder pool
- 10%: R&D
- 10%: Admin
- 10%: Legal
Uulala ICO Team
Oscar Garcia: Founder/CEO
Mr. Oscar Garcia has amassed over 20 years of experience in technology and web development; his journey in these two fields can be traced back to 1997 when he ventured into programming and creation of web applications. He has launched many companies during career path, a stepping stone that has seen him bring together a competent team of diverse executives ready to street Uulala through its various phases of development.
Frank DiCrisi: COO/Co-Founder
Mr. Frank Dicrisi has a vast experience garnered from various industries including automotive, finance, consumer electronics, advertisement industry, and much more. His 18 years of experience in these fields have seen him earn a good track record in coming up with and implementing practical business solutions.
Alan Alvardo: CTO/Co-founder
Mr. Alan Alvardo has over 10 years of experience in a large-scale enterprise application, software development, and Service Oriented Architecture (SOA) technical know how. As the chief technology officer, he will oversee Uulala financial platform for streamlining various businesses transactions across the world.
Matthew Loughran: CMO
Mr. Matthew Loughan has garnered 15 years of experience and success in financial services, fintech, marketing, public relations, lead generation, mobile marketing, branding, among several others diverse capacities. Some of the top positions Matthew has served cut across institutions such as Brazilian American Chamber of Commerce, board advisory council of Grow Your Exports, Midtown West Media, and much more.
Uulala ICO Scam Check
So far, there are no any complaints from the investors and potential user community indicating that the Uulala ICO project is a scam. The project has been fairly rated across different forums atop passing the basic indicators of gauging a genuine ICO. Their team has a robust experience with many of the members enjoying over 15 years of experience in their various career paths; they have sufficient information on the white paper, a clear roadmap, logical allocation of the distributed tokens, and a robust multichain technology to secure the various transactions.
The Uulala ecosystem carries with it a lot of potentials. For instance, in terms of remittances fees, global statistics by the world bank indicate an average of between 7.45%-15% globally; Uulala is, in turn, planning to offer significantly lower fees to its users in comparison to the ones currently imposed by the traditional banking systems.
In its whitepaper, there is a proposed fee of USD 1.90 for remittances, USD 0.25 for global bill pay, and 8% for microloans. These are favorable fees capable of drawing the attention of potential users across the world. Furthermore, there are no existing companies or ICOs with such a visionary idea; they are the pioneers.
Uulala ICO Business model
The Uulala platform will charge small fees for the various financial services they facilitate including remittances and microcredit. It is these fees that will run the various operations on the Uulala platform. Additionally, part of the proceeds received will be used to buy back the UULA tokens from investors willing to resell them back to the company.
MVP release date is unknown.
Uulala Capitalization potential
Uulala ICO is targeting to raise a maximum of USD 50,000,000 by the end of the public sale. The most outstanding thing about them is that they are more selective in the manner in which they select their investors. 5 days to the close of their ICO, Uulala had raised nearly USD 30 Million as revealed in their telegram channel. This is an indication that their idea of focusing on quality investors sharing the same vision with them is working.
Uulala ICO Coin (UULA)
Uulala is a multichain token, which makes it outstanding from most other tokens. So far, the team is yet to unveil their compatible wallets and exchanges. They have however stated that investor’s tokens will be secured in a custom wallet after the end of the ICO.
Additionally, since Uulala will function as a digital account for the transfer of fiat currencies, one can transact without certainly accepting cryptocurrency as a medium of exchange. On the hand, the team promised to announce their partner exchanges after the ICO is over.
Uulala ICO Review Summary
Overly, Uulala stands as one of the unique ICOs held so far, with the aim of bringing financial services to both the unbanked and underbanked communities in the Americas and other parts of the world. Unlike most ICOs, Uulala is built on a multichain, a blockchain module which they describe as reliable and scalable in terms of flexibility to conduct millions of transactions per month. Furthermore, the multichain is cost-effective which aligns with Uulala’s vision of making transactions as affordable to users as possible.
However, Uulala ICO is partly hyped as their Telegram channel, which is usually a major medium of communication for most ICOs had only 800 members as per the time of writing. This is divergent from what they had hinted to have raised days prior to the end of the ICO, an indication that there might be more investors highly interested in the project but yet to go public. Furthermore, Uulala uses a totally different mode of marketing compared to most ICOs.
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