Cuprum Coin News

Dear CUC users and fans,

In this post, I, Mario Urlić, the founder and CEO of Cuprum Coin, will address you directly today.

Namely, today we took another very important step with our project and that’s how we decided to burn 90% of our created CUC tokens, or 270 million CUCs. TXID link to a burning event.

As if you didn’t think wrong right at the beginning, you, our users have the same number of your CUCs, your tokens have not been touched, we have only burned our CUC tokens. Your share of the total number of issued tokens has increased by 10 times at this moment. So someone who had, say, 0.03% now has 0.3%, etc. Furthermore, although each CUC remains covered by the estimated value of $100 of the underlying asset, we believe that this way the CUC will gain much more in market value when we list it.

Although I have been thinking about this move for a long time, the research of Binance entitled “Low Float & High FDV: How Did We Get Here?”, dated May 14, 2024, which I analyzed in detail, gave me the confirmation to do it immediately.

Why did we burn such a large percentage?

So, we created 300 million CUCs in 2021, when I signed a contract with the intermediary of the underlying asset, which at that time had 10 tons, with an estimated value of 30 billion USD. At a ratio of 100 USD/1 CUC, we created 300 million CUC coins at the time.
After we terminated the contract with that intermediary in April 2023, and signed a new one with the asset producer in May 2023, then a strategic partner, and now part of Cuprum Coin, we had 200 kg of underlying assets, and even then I had doubts about the excessive number of issued CUCs.

However, when we decided to migrate and create a new CUC BEP-20 token on the BNB Smart Chain, we left the same number of tokens, 300 million. Even though I already had certain doubts, I couldn’t get a good suggestion at that moment, or advice, so I decided to stay with the same number.

Although from May 2024 we personally became producers of our underlying asset through the Join Venture agreement, especially for Cuprum Coin, and we can produce it in large quantities on an annual basis, leaving 300 million CUCs did not make any sense. Why?

Because that way, for years we would have the so-called oversupply and the question was could we ever catch FVD? Maybe in 10 years or more, and maybe never because it’s really too large a number of tokens, which are too valuable to be sold from us on the market with big price discounts. Simply, impossible.

However, reading in detail Binance’s research, in which it is written that the big problem is with new projects that have high FDV and low circulating supply, i.e. Market Cap, and thus have a huge ratio of these two indicators, I saw a huge disproportion of our Cuprum Coin -a, which before burning was 0,2% on the circulating supply side. In this way, after we burned 90% of the issued CUCs, we got a percentage of 2%, which is still very small, but it is 10 times higher.

We have to cinsider that CUC has been exclusively bought by small investors during the 2021 pre-sale, we didn’t have a VCs or large investors at all, and that we have not had a good placement in the secondary market in August 2022. But now we want to change that, to find additional investors, both retail and professional, and then properly create a secondary placement on the best possible crypto exchange.

The conclusion is as follows.

30 million created CUCs is quite enough for our ECO system, which means that if all 30 million were sold, we could have an underlying asset worth 3 billion in the form of the best and most expensive nano copper powder in circulation through our CUC. We believe that those 30 million CUCs can be sold much easier and faster in the next 2 years and that with this total supply we will get a much higher demand on the markets, but also outside via OTC agreements.
I believe that with this move we have shown our maximum seriousness, as in all previous moves, and that we look at our project exclusively in the long term, which is also proven in our ECO system that we presented on May 1, 2024.

Visit our new website Cuprum Coin.

I am looking forward to the reactions to this decision, and to the new challenges that follow in our unique project.

Mario Urlic
Founder/CEO
Cuprum Coin