Q&A session with CUC | Transcript
Can you tell us what your project’s story is? How did the team come together to build this? What are your motivations, vision, and mechanics behind the Cuprum Coin?
My name is Mario Urlić. I am the founder, owner, and CEO of Cuprum Coin. Our current headquarters is Dubrovnik, Croatia, from where the project is launching on crypto exchanges.
By the way, I have been a professional trader and technical analyst for 19 years, from stocks, Forex, and commodities, where I focused on gold and oil.
As I worked as a commodity analyst and trader in the last quarter of 2020, I came into contact with ultrafine high-purity copper powder, and I started researching all the details. After 2-3 months of detailed daily research (started in December 2021 and finished at the end of February 2022), I came up with the idea of using blockchain technology to create a commodity coin, Cuprum Coin. During the research, I contacted every major player in the field. They were manufacturers, sales intermediaries, my direct LME (London Metal Exchange) contacts, and even manufacturers and importers of the common copper powder used in everyday production in the US.
In that way, I created a missing market for one of the most valuable elements in the world. I was intrigued by the fact that some investment banks buy it and store it in their vaults as if they were going to use it as collateral, so I thought that they also wanted to make some kind of CFD of Futures and place it on the LME. I wanted to take advantage of the fact that they have not yet officially entered the crypto world and create something like this before them.
A few months later, my current partners contacted me when they saw the project and offered ultrafine copper powder in their possession. We signed a cooperation worth USD 60 billion in Austria in July 2021 and thus started the serious creation of the project officially.
As for motivation, I can say that this is the crowning glory of my career, which I started 20 years ago, trading in all markets, from stocks, through Forex, commodities, and finally cryptocurrency, i.e., blockchain, but with my product.
I put all the experience I have gathered into this project with the vision of creating something unique in a colossal concurrence, which I succeeded in doing. However, considering that this is just the beginning and that there is a lot of room for improvement and progress, motivation always pushes me to be better.
Could you tell us a little about the token you use in your ecosystem? How does it work, and what kind of utilities and benefits does it provide users? How does it contribute to your ecosystem’s growth and progress now and soon?
First, I would like to clarify that CUC is not a token, but a genuine coin, i.e., altcoin. As for the utility, we didn’t formulate it well in the first whitepaper, but we are working on its changes. During the day, tomorrow at the latest, we will release a new updated whitepaper and show in detail how the CUC is connected to the underlying asset, giving the true meaning of the commodity coin and its utility.
Since the idea from the beginning was to create an emerging ultrafine copper powder market through blockchain technology, we will do that. Given that it is a particular and rare material that will be used increasingly in the future and with new technologies, this is its most significant advantage because, according to all analyses, its demand will grow between 12 and 15% annually.
The most significant advantage of all customers is that through CUC, they can trade with ultrafine high purity (99,999+%) copper powder (not physical), which was only possible for privileged institutions. That was almost impossible, considering its high value (1 kg is worth 3 million US dollars). CUC changed that, and using the smallest unit of measurement of 1 mg, a customer of 0.015 CUC is covered with a value of 3 US dollars. I must mention that the current market price is only 3% of its backed value.
Do the token holders have the right to participate in the project’s governance? On what kind of decisions can they vote on about the project? And do you have any plans to create other features? Maybe yield farm, staking, or NFT project? Can you explain in more detail?
Considering the answer to the above question, which I mentioned in the beginning, that CUC is not a token but a real coin, I will now clarify it. So, since CUC is not a Tezos token, and we do not use the Tezos blockchain, customers currently do not have the option to participate that way. CUC is a coin built on forked Tezos with a native blockchain, which means all those options are open, from yield farms, stakes, and NFTs. Although we have thought about it, we cannot go into detail about the ideas. We will release more information in early 2023.
Do you have any plans for the multichain? These days, multichain has become a development where many projects have transitioned. Are you planning on putting it on your roadmap?
Considering that CUC has a native blockchain, it is possible to go that way, but I have to admit that, although we have had some discussions about it, we do not have those plans currently. However, I am sure that we will come to the moment when we will consider these possibilities more seriously in 2023.
Although not directly related, considering the multichain and its specifications, capabilities, and advantages, I would like to use this question to emphasize that CUC does not have mining capabilities.
Tell us about your ecosystem. What does, besides the token, your ecosystem have? What is CUC working on now? Will there be any platform releases soon?
I think I answered this in the second question, so there’s no point in repeating the answer. I must say that we have laid excellent foundations for unique crypto in the world, that our path has just begun and that the project will develop in the future at a much higher speed than before. You can see that our cooperation is now expanding to top partners, we get various new offers every day, so I think the team will also expand and create new ideas and turn them into reality.
What is Cuprum Coin’s plan to reach out to the global community in building and acquiring customers or users for the partnerships in 2022 and 2023? How do you intend to solve the problem of your target market?
We are aware of the importance of building the CUC community. We created a base of 15 000 registered users during the pre-sale, which we have not used because we are working on the final marketing concept. We are in contact with several marketing agencies, and some of them have already created and submitted a detailed plan for the next two to three years. We believe that we will soon enter into cooperation with one of them.
As a new project, does your project have a program for ambassadors to attract more new users? If so, how can I become one of them?
We are open to any cooperation that can add additional value for CUC. However, we must emphasize that we are not in favor of a partnership with individuals but instead in collaboration with experienced and professional teams. Anyone interested can send a request via email: firstname.lastname@example.org.
What are your main project priorities in 2022? As we know that we are at the bottom phase of the crypto market right now. Are there any exciting initiatives you are planning in the pipeline that you can share with us?
So, our priority in 2022 was to list CUC on the exchange, which we succeeded in August. Although at the beginning of the year, we signed cooperation with five exchanges, in the end, we listed CUC on only two, and we slightly changed our plan for the future. So I doubt we will list CUC on the smaller exchanges by the end of the year, but our goal is to list CUC on one of the Top 20 exchanges from which we already have offers.
After listing CUC on Bitforex and WhiteBIT, we received 16 new listing proposals, which we are considering in detail. So I’m sure in Q4, we’ll see CUC as one of the Top 20. We plan the listing of CUC on one of the Top 10 exchanges for the first and second quarters of 2023.