PREFACE OF CHIT FUND
Chut Funds is a Non-banking economic creation originated in India which comes Under the RBI fake 1934. Chit Funds are a habitual way of savings and borrowing in which members or subscribers accede to adding an inflexible quantity of currency for an inflexible duration of time. The entire sum collected(by the foreman) is subsequently auctioned and set out as prize riches to the organ or subscriber in need. consequently, this allows the members to avert a capacity of Their balance for the epoch at what time needed.
EVOLUTION OF CHIT FUNDS
Based on mutual trust, a type of savings, and spring of credit, bill money evolved over the days barely to suit a mammoth sensation in the market, even though a special tale of falseness and con at this time and there. It was through Chits that make somewhere your home bring into being a path to invest Ideally and profitably.
TYPE OF CHIT FUND
There are two types of Chit Fund in India
- State Government Chit Fund: These are run and managed by the state government and are completely transparent.
- Private Chit Fund: These are registered under the Chit Fund Act 1982 and are helped privately by a financial Institute.
ABOUT UMA CHIT FUND
Uma Chit Funds is a private Chit Fund that is registered under the Chit Fund act 1982. Uma Chit Funds Private LTD is an online-based bill cremation business registered under the bill cremation Act,1982. Uma Chit Fund is a progressive type of Rotating discount and character Associations institute across the globe. It serves associates with restricted admittance to banking amenities and gives them open to savings and borrowing schemes. It is a non-government circle handled by personal entities located in Maharashtra, India. The platform is enabled with smart contracts and imparts numerous bonus introduce surrounded by high-ranking encryption, facts safety measures, and incomparable transparency.
TOKEN DEFINITION
Uma Chit Funds token(UCF) is an ERC-20 submissive coupon issued on the Ethereum platform. It is a helpful remembrance on the Uma Chit Funds platform.
Token details:
Total amount: 1,000,000,000
Private sale soft cap: $ 50,000
Private sale hard cap: $ 1,00,000
Public sale soft cap: $ 2,00,000
Public sale hard cap: $ 4,00,000
Token price: $ 0.1(equivalent in USDT,BTC, & ETH)
Token distribution
- Team: 30%
- Private sale: 10%
- Public sale: 30%
- Reserved: 27%
- Bounty and Marketing: 3%
ROADMAP
2019: Concept formation
2019: Whitepaper creation starting
August 2020: Website launch
2021: White paper finalized
April 2021: commencement of private sale round
December 2021: MVP released & marketing campaign
January 2022: commencement of the public sale and product testing
April 2022: Final product release
TEAM
- Rohan Kotkar-CEO | Founder | Treder/Blockchain consultant
- Ronak Surana- COO | Content manager
CONCLUSION
Blockchain innovation has been fruitfully sounding to numerous stages around the world, principally on stages like competition and AR, blockchain innovation has scores of capacities which fake the plinth to post surpass compared to customary innovation. Also, Uma Chit Fund is at this feature as a platform that will trade the record blockchain to give rise to answers for the virtual orb afterward. The Uma Chit Fund gives security, elite, cross-chain, and is individual for tackling out of the regular issues in the rise of the virtual world.
#umachitfund #startup #blockchain #etheruum #chitfunds
For more information
Website: https://umachit.fund/
Facebook: https://www.facebook.com/umachitfund
Twitter: https://twitter.com/umachitfund
Telegram: https://t.me/umachitfund
Verification of authorship:
Your Telegram username: @uluckym7
Bitcointalk Username: Luckym7
Profile Link: https://bitcointalk.org/index.php?action=profile;u=1327929
ETH Address: 0x73D9EE1804eb9c0E2ee8B74B70af7c480B6e5b6a