The UTU Update — April/May 2022
Strong UTU Protocol TestNet traction and improvement. We announced the Africa DeFi Alliance and partnered with Evai and Open Fabric; opened up our product roadmap.
UTU Trust Guardians,
Welcome to the April/May 2022 edition of the UTU Update!
Read below to learn the highlights of what’s been going on at UTU in the last 2 months!
You can view the UTU Update in video form here:
TestNet Traction Improvement and Incentives Program
Testnet adoption has been great, and we’ve been collecting and reviewing all the feedback. We combined it with our own ideas for further improvements, and released some of them and are working on more.
We’re going to make another push for an improved testnet experience very soon, and then hopefully become ready for mainnet in the next few weeks. You can contribute to this by checking out the 1,000,000 $UTU TestNet Incentives Program we just announced earlier today.
A bit more behind the scenes, we’re working on bringing UTU to all your favourite web3 apps; this would include for example UTU trust signals for stable coins, motivated in part by recent events. But more on this soon.
With Ocean V4 imminent things are heating up for UTU’s ocean integration. Functionally, we can make use our Twitter and Telegram connections which we integrated for testnet. And we developed a new collaborative filtering approach based on users’ data asset and DeFi Protocol usage, and their token holdings, which we expect to also prove useful in other web3 use cases.
Decentralization — Open Roadmap
We took one of a number of key steps in the decentralization of UTU’s operations in April with the opening of our roadmap for the community to start proposing their own ideas and discussing, refining what the team has come up with. You can get in on the action at https://roadmap.utu.io/
This is somewhat obviously a precursor to the governance model that will guide the product’s development in the future. The next key steps which you’ll see start to creep out in June will be UTU bounties, followed by the launch of our grants program. These initiatives combined will dramatically reduce our centralization and scale the number of people whose creativity and expertise we can channel into our signals, interfaces, mechanisms, and campaigns.
Africa DeFi Alliance:
UTU launched the Africa DeFi Alliance with the audacious goal of moving $100B in working capital into the continents’ MSMEs at transformational rates. This one has been a game changer with more than 40 projects and companies of all sizes from all over the world reaching out to join us, including global credit card companies, pharmaceutical giants, large scale energy distributors, manufacturers, fintechs, blockchains, and so many others.
Meanwhile, we’ve been making progress on three key work streams including partner intake, protocol design, and pilot development. Our first pilot with MARAMOJA has ~doubled the metrics it reported in April and still with 100% uptake and 0 defaults! That’s more than 500 leans now, worth more $20k! We have two other pilots starting imminently with a retail tech platform and a manufacture that will position us for the larger facilities we’re setting up MarketForce and Orbit. We can’t say much more right now but we have some major announcements forthcoming about the system architecture, token and governance models, and how you can get involved.
We partnered with Openfabric, which is a platform for building and connecting AI-Apps, an ecosystem where everyone has quick, easy, low-cost, and hassle-free access to powerful AIs. We will integrate our trust infrastructure into OpenFabric’s AI marketplace, explore ways to use the AI models on Openfabric’s platform for UTU’s data modeling needs, and explore the sharing of data between our platforms in a privacy-preserving manner. This is going to be a big win-win for both organizations and our users. Read all about it here!
UTU also partnered with Evai.io whose team have developed a proven AI and machine learning technology that continually evaluates over 1,000 cryptoassets and awards them unbiased ratings from A1 down to U. UTU and Evai.io will reciprocally share our signals with each other to enable comprehensive trust for end users as they try to make the best informed decisions about digital assets.
UTU and Evai’s collaboration is mutually beneficial for each of our respective users; we will work together in two main ways:
- Making Evai’s signals available via the UTU Trust API and DeFi Portal
- Making UTU Signals available in the Evai Dashboard
See all the details.
See Bastian live at #BOS22 in Berlin on June 9!
Bastian will be speaking at the Blockchain Oracle Summit in Berlin on Jun 7–9. It will be on a panel at on 9th, 5pm CET, on “Oracle Use in DeFi; How to Ensure Trust in a Trustless World?”. A very fitting topic for us of course, looking very forward to that! Sign up here.
We hope you enjoyed this UTU Update! Stay tuned for more exciting news to come about testnet.
Thanks for your support, Trust Guardians!