BUT is the native ERC20-compatible cryptographic token of the BitUP Platform implemented on the public Ethereum blockchain.A fixed supply of 1 billion BUT tokens will be created and no further tokens will be created. BitUP would have some specific functions:
1.BitUP Platform will charge asset managers a certain fee in BUT for the creation of DACs.
2.Annual management fee of purchased DACs (created by asset managers on the BitUP Platform) and exit fee of sold DACs will also be paid in terms of BUT.
3.BUT will be automatically given as incentives to investment managers and other third parties according to rules governed by smart contracts. The asset allocation combinations they created, along with all operations, will be transparent and open to all investors. All performance will be quantitatively evaluated.
4.BUT holders would obtain exclusive access to premium services (e.g. market intelligence and research reports) on the BitUP Platform by paying BUT.
5.Through DACs created by asset managers, BUT holders would get the opportunity to access opportunities which would otherwise not be available to the general public.
BUT has been launched by the following exchanges.