South African cryptocurrency startup launches token sale

Project UBU has launched its initial token sale (ITO) for its UBX token.

Project UBU (Universal Basic Unit) is cryptocurrency payment project which aims to get many users involved.

UBX is an ERC-20 token which runs on the Ethereum public blockchain and is priced at $5.00.

The token sale will roll out in three phases: pre-sale, public sale, and contract sale.

The pre-sale phase will last until 28 September and will have a cap of 4 million tokens. Pre-sale investors will earn 25 bonus tokens for every 100 tokens purchased.

Pre-sale applications are non-binding and payment is only due on 29 September – once applications are approved.

The public sale will have a cap of 4.5 million tokens and will run from 29 September to 29 October.

The final contract sale phase will commence on 21 October and end on 15 November – with a cap of 4.5 million tokens.

Details about the UBX ERC-20 token and Project UBU are available in the startup’s whitepaper.

Now read: South African cryptocurrency startup Project UBU’s plans

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South African cryptocurrency startup launches token sale