In the language of the Northern people, “UMKA” means “white bear”. Polar bears are considered an endangered species worldwide. To native populations of the Russian North they symbolize honor, supremacy and power.

The final launch of the platform is planned for the second half of 2019. For details, refer to the roadmap in our WP, LP or the website: https://umka.city/.

Just like a regular labor market, UMKA brings together those who are looking for Specialists and those who are looking for work. UMKA’s main difference from other platforms is that it is a highly innovative 21-st century platform built around the latest technologies: blockchain for data storage, AI for precise searching of the userbase in order to find the Specialists that best suit your requirements, fast and secure contracts and transactions, Agile-inspired business processes, work with several Specialists or teams all at once, the possibility to pay in 15 cryptocurrencies as well as fiat money and to communicate freely thanks to the integrated GNMT service, professional testing and educational courses.

  • UMKA is built on the high-performance EOS blockchain.
  • AgileSC offers an opportunity for stage-by-stage project payments and agreed upon amendments while guaranteeing efficiency and convenience for all parties involved.
  • In UMKA Employers create project groups to organize the work of multiple Specialists working on a single task. There can be any number of Specialists  in a project group. The Employer signs an Agile smart contract with each individually.
  • UMKA’s commission fee is 1% per transaction.
  • On the UMKA platform, 15 cryptocurrencies and fiat currencies will be used. Every currency is represented by a corresponding asset in the blockchain and there are no transaction fees.
  • Integrated online courses are a useful bonus for UMKA users that allows them to take online courses from the world’s leading universities and learn new skills. The results are recorded in their digital passports.

AgileSC is a unique smart contract technology developed by the UMKA team. With AgileSC, projects can be broken down into iterations and milestones can be created and set up according to three parameters: time, work and budget.

Agile Smart Contract ensures the possibility of amending each of the three parameters with the consent of both parties. For example, if a Specialist requests an amendment of the Time parameter (pushing the deadline back) and an Employer confirms this action, the new amendment is introduced in the blockchain and must be effected upon attainment of the new deadline. The system allows for the supervision of stage-by-stage project progress, simplifies order deadline monitoring, assists in disputes settlement without the third party involvement, and automatically remits the remuneration to the Specialist if the Employer is satisfied with the deliverable.

  • an advanced smart contract that makes it possible to break a project into any number of iterations and milestones and set them up according to three parameters: work, time and payment;
  • each of the aforementioned parameters can be altered with the consent of both parties;
  • third parties can’t make changes to contracts;
  • the history of changes is recorded in the blockchain and is available to all users;
  • there are premade Agile smart contracts with custom settings for various general types of projects;
  • AgileSC has a mechanic for resolving disputes without the involvement of third parties, or with the help of an Arbiter;
  • after the contract is signed, the payment amount is frozen in the Employer’s wallet;

More detailed information on how UMKA’s smart contract works is available in the Agile SC section of the White Paper.

UMKA is going to select online educational programmes and courses from leading educational institutions and individual experts. Information about successful course completion and certificates (if such are provided by the programme) will be recorded in the user’s digital passport.

UMKA has already partnered up with several Russian universities and is negotiating partnership terms with other educational institutions.

Existing centralized platforms have a number of serious disadvantages:

  • changing the platform’s rules, fees and technical parameters happens without the consent of users;
  • there are no guarantee of payment or quality of work on the part of Employers and Specialists;
  • users can’t break projects into milestones with payments for the completion of every iteration;
  • high commission fees for secure transactions and deals (up to 20%).

Decentralization lets the platform create a unique ecosystem, where every user is protected equally. AgileSC allows parties to enter agreements on mutually beneficial terms while maintaining a low commission fee thanks to the EOS blockchain.

A key feature of EOS is its high transactions-per-second ratio, which is up to 100,000 tps compared to Bitcoin’s 7 tps and Ethereum’s 15 tps. In EOS, smart contracts can be generated without additional fees for users. In addition, EOS enables the use of cryptocurrency assets, which allows the users of UMKA work with 15 cryptocurrencies and any fiat currencies.

UMKA is based on the high-performance EOS blockchain with Turing-complete smart contracts and the Byzantine Fault-Tolerant (BFT) Delegated Proof of Stake (DPoS) consensus algorithm.

EOS is a blockchain that allows for smart contracts for decentralized applications and decentralized autonomous organizations. EOS has solved the issue of scalability that popular blockchain systems, such as Bitcoin and Ethereum, were unable to solve. There are no fees for users in EOS.

In order to simplify fiscal relations between users, UMKA introduces assets for cryptocurrencies and fiat currencies. An asset is essentially a token (or an equivalent) for a currency in the UMKA blockchain supported by the cryptocurrency balance in their UMKA wallet and the fiat balance on the account of the UMKA entity. Assets allow minimizing transaction costs for users, since the flow of funds inside the platform will not be influenced by other blockchains’ or banks’ commissions. Assets are used for fast work of smart contracts and financial security guaranty for users.

The flow of funds is conducted via smart contracts, which, during the initial stage, are going to work with either Bitcoin and Ethereum. Later on, seven new cryptocurrencies and fiat assets will be introduced.

Assets of any currency can be purchased at a 1:1 rate. For example, if a user deposits 1 BTC, they will receive the number of asset tokens equal to 1 BTC. Assets can be withdrawn to an external wallet.

All transaction within the service are done via the internal UMKA Wallet using smart contract assets. UMKA’s commission fee is 1% of the contract’s payment, and it is withheld from the Employer’s wallet after the contract has been completed.

Please note, that assets of any currency are purchased at a 1:1 rate. For example, after depositing 1 BTC a user receives an asset with the same price. There are no additional fees on the platform.

The 1% fee from all contracts will be distributed between all UMK tokens automatically (as soon as the commission fee pool reaches $150,000). Undistributed tokens are managed by the UMKA Foundation, they also participate in the distribution of profits and can be purchased at their current market price. Profits earned by the Foundation through undistributed tokens will be used for the support and maintenance of the platform.

On the UMKA platforms users will be able to use 15 cryptocurrencies as well as fiat money. Funds are transacted trough assets of currencies in the blockchain without a fee.

Users will be able to withdraw funds to any external wallet.

Yes, the platform is going to support fiat. On the UMKA platforms users will be able to use 15 cryptocurrencies as well as fiat money. Funds are transacted trough assets of currencies in the blockchain without a fee.

No, registration is free for Specialists and Employers alike.

Experts are users with the highest rating in their field. Experts can participate in the creation of testing systems and arbitrate disputes.

Anonymous arbitrators are Experts who have chosen to arbitrate disputes for a fee. Arbitrators investigate disputes, present reports and make a decision that favors one of the parties. Arbitrators receive 5% of the payment for the disputed iteration as a reward. Any Expert can become an Arbitrator. As soon as a user attains the rank of Expert in a certain field, they can see pending disputes in their profile and respond to them.

If an Employer or a Specialist does not get in touch 48 hours after the milestone for the current iteration, or 48 hours after one of the parties has requested contract termination, the contract is terminated automatically and the amount paid for the current iteration is transferred to the party that has confirmed that they are active. This mechanic guarantees that work will be paid for even when the employer does not get in touch in due time, and that an Employer won’t have to pay for work that was not done.

Yes, and you can follow UMKA there, or read the blog on our website: https://umka.city/blog/.

Here is a list of our social network profiles:

To become an investor, go to the landing page https://umka.city/ and navigate to the “Become an investor” section. You can buy tokens with ETH and BTC. By purchasing a certain amount of tokens from June 1 to August 1, 2018 you receive bonuses, that are essentially additional tokens sent to your wallet. You can always ask questions in our group chat: https://t.me/umka2018.

The UMK token is an ERC20 token issued on the Ethereum blockchain.

UMK is a security and an investment token. It gives its owners the right to pursue their investment interests. The UMK token guarantees participation in the distribution of the platform’s revenue. The token balance will be shown in the user’s wallet, and rewards will be accumulated proportional to the amount of tokens.

UMK tokens can be purchased on the project’s page https://umka.city from June 1 to August 1, 2018. Tokens can be purchased with BTC and ETH. Watch this video for a step-by-step guide on purchasing.

Bonuses are additional tokens given to the investor besides the purchased tokens as long as the investor has purchased a certain minimal amount. For example, by investing $100,000 you get +30% bonus tokens. Please note, that bonuses are valid until August 1, 2018.

Token sale time frame:

May 1, 2018 – closed presale

June 1 – August 1, 2018 – the first stage of public token sale

The token’s price during the public sale is $0.01.

UMKA Planet Corporation is incorporated in the Republic of Seychelles as an International Business Company on the 17th day of April 2018.

UMKA plans to list the UMK token on all major exchanges. Thanks to our advisors’ actions we have already reached agreements with several exchange platforms. Follow us on social networks to get timely updates on this topic.

The revenue of the platform from transactions (1% of the total amount) will be distributed between all issued tokens. This way, token holders will be receiving passive income that will depend on the amount of tokens they have purchased. To calculate your passive income, use our income calculator.

UMKA has issued 180,000,000 tokens in one installment. There will be no further emissions. UMK tokens are sent to your ETH wallet.

UMKA does not put limitation on the amount of tokens purchased. Purchasing tokens for an amount higher than $1000 makes you eligible for bonus tokens. Bonuses are available until August 1, 2018.

UMKA lets investors purchase tokens securely with BTC and ETH. Before purchasing tokens investors are advised to acquaint themselves with the legal documents confirming the legality of the token sale: https://umka.city/ru/documents/. If you have additional questions, watch the video guide to purchasing UMK tokens, or talk to the project’s managers in our group chat: https://t.me/umka2018.

Undistributed tokens will be controlled by the managing fund UMKA Foundation, they will also yield revenue in the form of a percentage from the platform’s revenue. They will be available for purchase by anyone at their market price.

Investor profits are defined by several factors. Investors can receive bonuses, which are additional tokens that are received in addition to purchased tokens as soon as a certain amount of tokens is bought. Funds, gathered trough the 1% commission fee from projects will be distributed between all issued tokens automatically (once the pool reaches $150,000 or its equivalent in another currency).

You can use the investor’s calculator to calculate your income on our website: https://umka.city

Funds, gathered trough the 1% commission fee from projects will be distributed between all issued tokens automatically. Income received for tokens belonging to UMKA’s managing fund will be used for the support and development of the platform.

Funds, gathered trough the 1% commission fee from projects will be distributed between all issued tokens. Token holders will be assigned a percentage of the income. You can read more on the business model and view specific income cases in our White Paper

In order to make funds expenditure transparent and clear to investors and users of the platform, the team will post financial reports on a regular basis on the project’s website: https://umka.city

Funds, gathered during the closed presale were spent on marketing and the development of the MVP.

In order to make funds expenditure transparent and clear to investors and users of the platform, the team will post financial reports on a regular basis on the project’s website: https://umka.city

We plan to release the MVP during the EOS Russia Meetup on July 27, 2018.

You can see our progress here: https://4aosex.axshare.com/. The dev team is also working on backend and frontend solutions. Additional information can be found on the GitHub page: https://github.com/UMKAman.

UMKA is all for transparency, and information regarding the team’s activities is publically available. You can find our source code on github: https://github.com/UMKAman. Information is being updated in real time. You can ask your question in UMKA’s group chat: https://t.me/umka2018.

UMKA’s marketing strategy consists of two main components – the crowdfunding campaign and the marketing of the decentralized platform itself. Besides building up reputation trough media publications (Forklog, Entrepreneur), social media activity and listing on major trackers, UMKA plans to host a number of hackathons in order to attract employers, freelancers and mentors.

The platform’s target audience includes freelancers, students, employers and universities. As of now UMKA is in the process of arranging agreements with universities, educational institutions and study centers. The team is also negotiating with major investment platforms during meetups in several regions: Europe, Asia and America.

UMKA’s marketing team welcomes experienced advisors and influencers to take part in the project’s development.

UMKA creates a unique ecosystem that lets Employers, Specialists, educational institutions and Experts from different countries communicate freely. In order to accomplish this, UMKA implements instruments such as GNMT. Google’s Neuron Machine Translator, built in in the platform’s chats facilitates communications, and the machine translations quality increases over time, since the neuron network is capable of learning. Users of the platform will have access to language pairs with the English language

UMKA holds hackathons in order to rally developers, bring to light issues they are currently facing in their line of work and try to understand what, and how they would like to learn. UMKA’s mission is to facilitate communication between Employers and Specialists, learn their desires and issues, and hackathons are one of the best tools for the purpose.

Hackathons are held with the support of large companies, such as Sberbank and Gazprom. Investors, who have invested over $100,000 get the unique option to set themes for hackathons, which allows them to use the hackathons to work on their own tasks and projects.