PURPOSE OF CHIT FUND
Chit Funds are an established capital of savings and borrowing in which members or subscribers be consistent with adding a cast-iron quantity of currency for a permanent duration of time. The come quantity collected(by foreman) is after that auctioned and prearranged out as prize change to the limb or subscriber in need. hence this allows the members to avert segregation of Their gain for the era as needed. account supply comprises gained an immense significance in the fiscal engineering as of the buck concern rates. posterior or other monetary supply charges a titanic sum of interest.
IMPENDING OF CHIT FUNDS
Chit FUNDS are proving to be an increasingly well-liked approach of savings-cum-investment
⚡You preserve the best choice of the quantity you neediness to put aside every month.
⚡ The quotient of come again is particularly an area of high pressure compared with other investment options.
⚡ It is an equally put-up collateral manner of investment.
⚡ It teaches the preference of economy and separates a limited total both months towards investment for a drizzly day.
⚡ here are too a number of overstretching cuts in receipt reserves
ABOUT UMA CHIT FUNDS
Uma Chut Funds private LTD is an online-based tab income concert party registered under the check means Act,1982. Uma Chit Funds is a superior account of the Rotating cutback and beliefs Associations bring into being across the globe. It serves the populace with restricted doors to banking amenities and gives them read to savings and borrowing schemes. It is a non-government party handled by confidential entities located in Maharashtra, India. The platform is enabled with smart contracts and offers numerous extra highlight with high-ranking encryption, figures collateral, and supreme transparency.
WORKING STRUCTURE OF CHIT FUND
The working structure of Uma Chit Fund can be divided into two parts:
- Starting the whole chit amount on the platform in UCF coin as collateral
- Auto-Debiting system(which will be compulsory on the platform only if the participant fails to keep the whole chit amount in UCF on the platform locked as collateral)
PROCEDURE OF CHIT FUND
Here would be manifold Chit rounds on the loose every month with unstable time pause (maturity time), Chit quantity, etc.
In each round, The following activity would occur:
Round 1: Fixed deposit into the Funds smart
Round 2: Application of prior sanction letter
Round 3: Formation of the Chit group
Round 4: Certificate of Commencement
Round 5: Chit auction
Round 6: Payment disbursal to the winner of the Chit round
Round 7: Distribution of dividends among the Chit holder
TOKEN DEFINITION
Uma Chit Fund token(UCF) is an ERC-20 compliant token issued on the Ethereum platform. It is a utility token on the Uma Chit Fund 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
#umachitfund #startup #blockchain #etheruum #chitfunds
For more information
Website: https://umachit.fund/
Instagram: https://www.instagram.com/umachitfund/
Facebook: https://m.facebook.com/umachitfund
Twetter: https://mobile.twitter.com/umachitfund
Telegram: https://t.me/umachitfund
Reddit: https://www.reddit.com/user/UmaChitFund
Verification of authorship:
Your Telegram username: @c610s
Bitcointalk Username: 610S
Profile Link: https://bitcointalk.org/index.php?action=profile;u=1774615
ETH Address: 0x7AdE7e7D527936d2A92402f2eb33B65EB6c8C3a9