The world of cryptocurrencies continues to traverse the mountain passes of the crypto city. In its quest for adoption and global supremacy, it is being fueled by digital assets available in abundance.
While the top 10 assets continue to generate conversation in the business, the emerging ones have largely been in the shadows.
A recent update from creators has fueled the network’s race for the spotlight. So, people in the community and beyond are now curious about the network’s initiatives.
The rumor comes as the manufacturer of Elrond reveals the future of the network with Utrust and UTK 2.0. On the other hand, Metabonding expansion continues at a fast pace, as projects join the Elrond community.
Will UTK 2.0 be the turning point in Elrond’s future prospects?
Global payments revenue is projected to reach $2.5 trillion by 2025. And the team is ready to take a piece of the pie with Utrust. Which is a Web 3.0 Layer-1 payment technology with its native UTK token.
While EGLD powers internet-scale payments, MEX powers the DeFi components of Web 3.0 payments. And UTK fuels the relationship between Web 3.0 payment buyers and merchants.
The founder and CEO of Elrond Benjamin Mincu reveals the future of the network with Utrust and UTK 2.0. With the goal of reshaping payments, putting Utrust, its community, and merchants at the epicenter.
The new model brings a powerful new utility, a powerful value accumulation mechanism, a new economic model, a remarkable startup process, and a much broader distribution to the community.
The UTK 2.0 token hosts numerous purposes that encourage crypto acceptance and payment. Mechanism of buying and burning, and aligning the interests of the participants by transitioning to a DAO governed by token holders.
Also, staking UTK and EGLD opens up a better payback. Instead of paying a fee for each crypto transaction, users can generate a return to offset the fees. And access a new source of income.
Successively, different rates can be opened depending on the amount of UTK and EGLD that is wagered. The creators are introducing UTK staking 2.0, which is a program that reinforces the accumulation of value for a minimum of 5 years. The initiative will offer dynamic rates with an APR of ~15%-35% in Y1. Gambling is believed to open up rewards and premium features.
Is this the big event for Elrond?
The basic idea of the initiative is that the current model with 500M UTK token supply and
there are no set incentives. It will be transformed into a model with 1.4B tokens, which would be achieved within a period of 5 years. The creators cite that powerful adoption and incentives would put Utrust on a different trajectory ladder. Although the model starts with an inflationary supply of 1.4B, the future prospects and burning will continue until only 250 million UTK remains.
While EGLD is the native reserve and powers Internet-scale payments, MEX powers the DeFi components of Web 3.0 payments. UTK fuels the buyer-merchant relationship for Web 3.0 payments. The Elrond community can be a part of Utrust, either by contributing tokens. The second comes as UTK 2.0 is one of the first projects to debut in the Metabonding program.
The movement is presented as an important movement for the network and the community. As about 16% of the UTK 2.0 token supply will be distributed to the most valuable owners, the builders. And ecosystem contributors, which includes EGLD stakeholders and LKMEX stakers. The initiative will start gradually, starting in March, when a new exchange bridge will be deployed, the meta-bonus will begin, and the staking will begin.
Metabonding has been scaling at a fast rate and is the latest starter product for Web 3.0 startups. Match builders with early adopters and align their interests. Metabonding has hosted two new projects, the first being Aerovek Aviation and the second is Economy of Effort.
In short, Elrond with his recent update has caught the attention of the masses and will bring virtues to the network in the near future.
Considering that global payment revenue is projected to reach $2.5 trillion by 2025, Elrond would steal the spotlight with Utrust and UTK 2.0. Successively, on the higher time frame, the price of Elrond would be on an uphill bullish walk.
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