Cryptocurrency exchange XT introduced Ultiverse (ULTI) as the latest project on its Launchpool and initiated USDT and XT token staking, allowing participants to earn a portion of the 251,800 ULTI mining rewards.

Staking will be launched at 10:00 UTC on June 6th, followed by the commencement of mining at 00:00 UTC on June 8th.

Users have the opportunity to stake USDT and XT tokens over a five-day mining period. The total amount staked is set at 1,555,550 for USDT and 105,100 for XT. The prize pool is divided so that USDT stakers receive 80% and XT stakers receive 20%. Each participant is allowed to stake up to 1,500 USDT and 405 XT, with ULTI tokens being distributed on a daily basis.

Ultiverse is creating a gaming world that combines AI with blockchain technology. This integration allows for the development of on-chain games, the use of non-fungible tokens (NFTs), the creation of decentralized applications (dApps), and the formation of a media matrix. These elements form the foundation of Ultiverse.

In 2022, the project raised $4.5 million in a seed funding round, achieving a valuation of $50 million, with Binance Labs as a key investor. Later, the project raised an additional $5 million from the same supporter. Earlier this year, Ultiverse completed a $4 million strategic funding round, which was led by IDG Capital and included other notable contributors, resulting in a valuation of $150 million.

#XTLaunchpool Launches #ULTI Staking to Earn Event, Dive in to Share 251,800 $ULTI Rewards Pool! #XT #XTStaking @UltiverseDAO Golden Shovel in the Bull Market, Come to Earn on XT Launchpool! Participate now: https://t.co/mNXfbEEBBZ Staking Start Time: 10:00 on… pic.twitter.com/KSmx8OUkWo

— XT.com Exchange (@XTexchange) June 6, 2024

What Is ULTI Token?

ULTI is a governance and utility token designed to facilitate decentralized transactions among participants in Ultiverse. It also provides economic incentives to encourage user contributions and participation in the ecosystem. 

According to ULTI tokenomics, 46% of the total token supply, or 4.6 billion tokens, is allocated to the community and ecosystem, 20% or 2 billion tokens to investors, 17% or 1.7 billion tokens to core contributors, 8% or 800 million tokens to airdrops, and 9% is equally divided, with 300 million tokens each allocated to liquidity, IEO, and advisory purposes.

Recently, Ultiverse completed the token mining activity for ULTI on OKX Jumpstart.

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