Introducing UCT Tokens | Credit-Based, Tax Exempt, Sovereign Currencies
In the summer of 2010, having come to understand that freedom is impossible under a debt-based financial system, I declared Universal Community Trust [UCT] – a government-free, Natural Law jurisdiction of autonomous, sovereign micro-nations – into existence, at a meeting of the founding trustees in Nottingham.
During the meeting, I pledged create a private, credit-based financial system under UCT jurisdiction, utilizing the long-established mechanism of creating credit with commercial paper [promissory notes and the like].
The first major step towards achieving that goal was the creation of UCT jurisdiction, which was established on 21 June 2012, when more than fifty UCT Founding Trustees ratified the Treaty of Universal Community Trust, thereby also creating twenty five autonomous sovereign micro-nations within the British Isles.
Sovereign Community Trusts
Each micro-nation consists of a Sovereign Community Trust [SCT or Anarcho-Nation] in a specific region upon the Earth, which contains Private Family or Living Trusts of UCT community members, made up of Grantors, Trustees and Beneficiaries of all demographics.
However, the jurisdiction created under the international law of treaties was further solidified legally by the establishment of a Memorandum of Understanding between Universal Community Trust and the UK Government in the spring of 2013, which laid out the uncontested aims and objectives of the UCT Treaty, including provisions to create and issue our own currency.
The first incarnation of our credit-based financial system concept was called the Permanent Credit Facility, which was intended to be a depository for promissory notes that UCT members would use to create lines of credit to pay for both public works and day to day domestic existence. For various reasons we were not able to roll this out.
Decade of Research
We then continued our independent research into developing our own cryptocurrency, when the industry was still in its infancy and nobody really knew for sure how the markets were going to treat Bitcoin if it ever became fungible, which it gradually did over the next five years, thereby giving rise to Ethereum and other blockchains, as well as the now burgeoning DeFi markets, upon which it is now relatively easy to exchange unlimited sums of crypto for fiat currency.
After considering several cryptocurrencies created and run by other people and organisations as options for the first UCT currency, we realised that we already had the committed team of developers, coders, marketers, legal advisers, banking consultants and business people required to create, launch and maintain our own ERC20 assets on the Ethereum blockchain.
Fast-Tracked Development
The concept of UCT Token, and the UCT’s own utility token, UCT Cash, was born and the wheels of their fast-tracked development were rapidly set in motion.
This was largely made possible by the launch of the Dodo exchange platform in February 2021, which allowed us to use their state of the art technology to create 999,999,999,999 of each of the ERC20 tokens, UCT Token and UCT Cash, during May 2021, which were immediately confirmed as exchangeable assets by Etherscan.
Subsequent tests have revealed the tokens to be functioning properly within the Dodoex interface, as well as with the Metamask browser wallet and the Ledger Nano S hardware wallet.
Truly Unique Digital Currencies
What makes UCT Token completely unique in the marketplace is they are issued when perfected Common Law liens [non-judicial damages counter-claims] are exchanged for UCT Token at the value expressed in the instruments themselves [GBP£, US$ etc], on a 1-1 basis. In other words, if the lien is worth GBP £20 million, the holder can exchange it for 20 million UCT Token.
Furthermore, the lien creditors will each be required to add to or stake a minimum percentage in UCT Token Liquidity Pools for the first 12 months after they exchange for UCT Token. However, no or limited fees will be charged in the pools, in which UCT Token will be paired with UCT Cash, as well as other decentralized currencies such as DAI, WETH and WBTC.
Initial Market Capitalization
The UCT tokens team initially capitalized the market with an exchange of a perfected lien for 207,075,200 UCT Token, which has been privately pooled as follows.
Having presented the instrument to the UCT Treasurer for approval, once accepted, the number of units in the value of the lien was sent to the creditor in UCT Token.
The tokens were then placed in private liquidity pools, along with matching amounts of UCT Cash, deposited by the UCT Treasury.
The initial market capitalization of UCT Token and UCT Cash was thereby established at US$583 million in the existing private liquidity pools.
Polygon Liquidity
As if that isn’t enough to whet the crypto appetite enough, we are in the process of transferring UCT Token to the Polygon network, upon which UCT’s new currency will be easily exchangeable with other cryptocurrencies that can be spent on debit cards or cashed out into fiat.
In the likely event that this comes to pass once our ongoing tests are complete, the means to receive, hold, spend and exchange UCT Token and UCT Cash will be self-contained within UCT’s ecosystem, as well as fully exchangeable in foreign marketplaces.
Nevertheless, we are already planning to rapidly develop a third UCT currency on our own blockchain, which we intend to launch on our own private exchange, using encrypted UCT wallets that are hooked up to UCT debit cards.
UCT Token Launch
Once the private pools’ liquidity is transferred to public pools when the tokens are ready for launch [penciled-in for 16/08/2021], new liquidity pools will be created, opening up the token market to the public.
It is anticipated that in excess of GBP £7 billion worth of perfected liens will be exchanged in 2021, for the equivalent value in UCT Token, the price of which is set at the value of GBP £1, as per the currency expressed in the liens.
This means that, by the end of 2021, there should be at least GBP £14 billion worth of UCT Token and UCT Cash tokens in circulation.
Each UCT currency will always be exchangeable for the other in a one for one exchange and there will always be equal amounts of each in circulation [including airdrops to community members].
Next Steps For Lien Holders
If you have already submitted your perfected lien over the property of the individuals responsible for the losses you suffered as a result of mortgage fraud, as per our tried and tested process, simply email UCT Treasury to confirm that you wish to exchange your lien for 100% of its value in UCT Token. In due course, you will then be sent a draft Bill of Exchange by the UCT Treasury, which you will need to complete, sign and return, following which your documents will undergo rigorous final checks.
If you have completed our tried and tested lien process but haven’t yet sent it for assessment, please email the UCT Treasury, stating clearly that you have a perfected lien you would like to exchange for UCT Token. The same applies if you have not yet completed the lien process, once the instrument has been properly perfected, which normally takes at least 90 days.
All being well, once the checks have been completed, you will be sent instructions about how you need to go about setting up a Metamask browser wallet to receive your UCT Tokens, the only cost of which will be the Ethereum gas fees on the transaction, in addition to a suggested minimum donation to show your appreciation for the time, energy and resources it takes to make all of this happen.
If you haven’t already, make sure you sign up for the UCT Token newsletter to keep up to date with all the latest developments. For more information, please visit the UCT Tokens website, where you can also download and read the latest Whitepaper for the project.
Tips Jar Rewards
Since some of you who have very kindly supported my work by throwing some coin in the Tips Jar were gifted a generous amount of iLien as a reward, now that it has become obvious that the currency is not capable of the functionality we need, you will all be gifted a comparable amount in UCT Token.
If that applies to you, expect an email about it within the next couple of weeks, once the UCT Token Project has been formally launched.
At which point I will also begin gifting double the amount I have received in UCT Tokens to everybody who has thrown a tip in the jar, to show my appreciation for your support of my work. Watch this space for further details.
