Note: This faq gets deleted and reposted as I correct/add things)
Why did you make UXT instead of using USX for the exchange token?
There wasn’t enough supply of USX to make it feasible. Roughly 100m coins were needed, and the remaining supply of USX at this time is only 38m. The crowd funding for the UXT token is also serving to support and build the exchange, much like other exchanges have in the past (like binance, etc).
What is the purpose of UXT?
UEX is the main currency of the Unified exchange. Like other exchange tokens, such as BNB, it will be used for fees, as well a tethering pair. There will be other functions, which have yet to be announced.
Is UXT POS/POW?
No. UXT is a token for the UXT Exchange. Its purpose is for trading fees, trading pairs, and social reward systems (as well as yet to be named features).
How Many UXT Coins Are There? How Is the Crowd Funding Divided?
There is 100m UXT Coins. Only 30% (or 30m are used for crowd funding) The allotment of coins is divided as follows. 50% Exchange, 30% Crowd Funding, 10% Team, 9% Reserve, 1% Founders.
Is USX Going Away? What is the Utility of USX Post UXT Creation?
No, it is not. USX is the main blockchain, and the parent of UXT. USX is minable, stakeable, and tradable (indirectly and directly with the exchange), and will be the coin utilizing atomic swaps in the future. UXT only increases the value of USX.
Why Should I Keep USX? Should I Just Swap Everything to UXT?
The UXT crowd funding for USX holders is offered as an option for those who are long time holders of USX. This enables them to get UXT at a substantial discount (if they choose), and acts as a secondary drive to raise the price of USX up. Whether or not you choose to swap or invest in UXT is entirely up to you. The same team is behind both USX and UXT, and the creation of the UXT token and exchange enables them to expand and grow their resources for future developments. USX’s future projects are much different than the internal exchange currency (UXT). Atomic swaps and cross-chain tech will be under the project management of USX and not influenced by UXT making the two incomparable to each other.
What Will Keep USX Prices Up After The UXT Crowdfunding?
One of the main parts of the UXT crowdfunding is the hiring of a larger and more expansive team for both UXT and USX development. This will speed up the development of USX and will enable the developers original vision to be reached in a more rapid timeframe.
When is the exchange coming out?
Q1 2019 is the current timeline. Timeline is listed on the exchange, twitter accounts, and main UXT page.
*Is USX Tradeable Through All Stages? Or Just Founder Stage and Stage 0? *
USX is tradable at all stages. BTC/LTC/ETH will be enabled at Stage 1-3.
When Does Stage 0 Start?
Concrete dates for the stages after the founders will be available soon.
What Happens to Unsold UXT?
Unsold UXT will be used for giveaways, general fund, or exchange/marketing(edited) When does the Founder’s Exclusive Pre-sell Stage 0 end? In 1-2 Weeks Time (Today is May 18th)
What Will Happen to the USX That is Exchanged for UXT?
The USX received will either be burned and/or use them for future giveaways, to get on other exchanges, and/or anything else that benefits USX and the community. They all go to one wallet address and is traceable in the block explorer.
Is the price for USX/UXT (currently 45), adjusted depending on whether USX/BTC changes?
The 45 USX is just for the Founder’s Exclusive Pre-sell Stage 0. After that it will be based on market value of USX for all account types.
How Is The 1% Founders UXT Being Distributed?
After Crowd Funding, the 1% UXT will be distributed evenly across the founders. Different brackets were created (based on amount of USX held) for the crowd funding.
How Did You Determine the 45 to 1 Ratio for USX to UXT For The Founders Crowd Funding?
This rate was determined by the current sat value of USX at the time of the crowd funding launch
Why did the token change from UEX to UXT?
There was a trademark dispute between another company which claimed the rights to UEX. Since we were still pre-stage 0, we felt it was a better use of time to modify UEX into UXT, then engage in a length and costly trademark battle.
USX is the initial Blockchain Currency for the Unified Society that will later pave the way for our Atomic Swaps Project. USX is crucial for future projects and will continue to be improved over time using feedback from the community. USX is currently Stakable and earns interest to those who hold the coin.
UTX is the newest / separate project of the Unified Society and will used as the internal currency of the Unified Exchange Platform. UTX is not Stakable but will give you discounts on trading fees and will be used to reward traders using the new social trading features among other things. UTX will list USX as a trading pair and the 2 will operate separately by way of their own projects while under the leadership of the Unified Society Umbrella.