Vilnius, Lithuania, The recent exploit on Binance Smart Chain (BSC), and their handling of the exploit, once again gives rise to a debate on Decentralization. While almost every new blockchain and DeFi startup emphasizes their embracement of Decentralization, few actually live up to their words.
Blockchains are often intertwined with Metaverse, as they are believed to bring the necessary level of decentralization to the latter. Indeed, as our society values freedom above all else, it is clearly a good idea not to leave the provisioning and upkeep of Metaverses for a selected few Big Tech.
In view of this, Urust Global – a Lithuania-based Web 3.0 startup – makes it their mission to leverage Decentralized Ledger Technology, and in particular Self sovereign Identity and Ripple Network to tackle the Identity and Transactional Payment problems in the Web 3.0 landscape. The platform also offers cross-chain swap service for crypto-currency, supporting swaps between cryptos belonging to the same chain via interfacing with the prominent AMMs, as well as atomic swaps between cryptos belonging to different chains.
They recently completed their strategic offering round. The round was oversubscribed, but only 29 angel investors who are notable tech evangelists are selected. They have published the details of participating wallets and vesting schedule for this round on unicrypt network. The project announced that the fund raised from this round will be used to expedite the development of their user-agent super-app, as well as fortify their brand awareness.
An interesting bit about these 29 angel investors is their nationalities breakdown. Urust Global shared that out of the 29, 9 are from EU countries, 3 are from Russia, 6 are from Asia, 7 are from the US, and 4 are from UAE. With all the geopolitical conflicts going on at the moment, it is quite refreshing to see such a cohort, which underscores the greatness of the decentralized metaverse, where physical borders no longer serve as limiters or barriers.
Following the strategic offer, Urust Global is now kicking off their Fair Launch to the public. Overall, the Fair Launch comprises three stages, offering a total of 12,000,000 URUST at different price steps, starting from as low as $0.25 and increasing to $0.75. They also have plans for IFO and listing in Jan 2023. Even before listing, URUST has been tracked on CoinMarketCap and Binance (not traded on, though).
Based on the published information on their website, our rudimentary calculation puts their fundraising goal at $6,000,000. Given the scope of the solutions they aim to cover, this funding size seems modest, standing in stark contrast to over-inflated tech startup valuations we saw recently. This is another refreshing bit Urust Global brings about.
– Website: https://urust.com/
– Twitter: https://twitter.com/UrustGlobal
– Telegram: https://t.me/URUST_Official
– Medium: https://medium.com/@UrustGlobal