ULTRA RIDE TOKEN
WHITEPAPER / 1.0
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Project overview
Ultra Ride Token (URT) connects the Ultra Rideshare rewards experience with an ERC-20 token on Base.
Ultra Rideshare is an app-based platform connecting riders and drivers. Its URT program records eligible rewards in role-specific Ultra accounts. A separate withdrawal process can transfer URT on Base to a receiving wallet.
- Token
- Ultra Ride Token / URT
- Network
- Base mainnet / chain ID 8453
- Standard
- ERC-20 / 18 decimals
- Initial supply
- 100,000,000,000 URT
- Platform status
- Pre-launch and testing
This paper describes the published contract and the application rules implemented at the version date. It does not promise a token price, liquidity, investment return, or a fixed program duration.
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The Ultra ecosystem
Ride payments, driver earnings and URT rewards are separate records with different purposes.
Project and access
Ultra Rideshare is founded by Mustafa Twaij. The dedicated token website is www.ultraridetoken.com; ultrarideshare.com is the rideshare application website and also hosts the token-site mirror at ultrarideshare.com/urt-site/. The project is being developed across the web, iPhone, iPad, Mac Catalyst, Android, Apple Watch and Wear OS. Features and availability vary by platform; this paper does not claim app-store availability.
Three records to understand
| Record | What it means |
|---|---|
| Ride credit (USD) | A dollar credit in an Ultra account that can be used for eligible ride charges. |
| In-app URT | A centrally maintained account record of URT rewards, adjustments and withdrawal activity. |
| On-chain URT | Tokens recorded at a Base wallet address by the deployed ERC-20 contract. |
A URT balance does not automatically convert to dollars or ride credit, and it does not automatically pay a fare. Rider, driver and administrator URT accounts are separate. Signing in to the appropriate Ultra role gives access to its token profile.
Driver compensation is separate
Driver dollar earnings are recorded separately from URT rewards. The URT driver rate applies to the same eligible transport fare used for the rider reward, not to the driver's dollar earnings. A change in dollar compensation does not by itself change the URT formula.
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Contract and supply
The full contract address and network identify URT; the name and symbol alone do not.
0x5e78161Bd943828087C33ff0C228cF9282518fa0
- Chain
- Base mainnet (8453)
- Decimals
- 18
- Initial and maximum issuance
- 100,000,000,000 URT
- Issuance method
- Entire initial supply minted at deployment
Published contract behavior
The contract uses ERC-20 transfer and allowance functionality and supports burning. Its constructor mints the entire initial supply to the deployment's designated recipient. The published contract has no later minting function, owner or administrator controls, pause function, transfer tax, blacklist or upgrade mechanism.
A holder can burn their own tokens. The burnFrom function permits burning another holder's tokens only within the caller's approved allowance. Burning reduces totalSupply; it does not create an entitlement to replacement tokens. The initial issuance ceiling and the current total supply are therefore different concepts.
The initial supply recipient was 0xaE50D3644dAdbfD8b16c84eC1bE17F7939f28D63. This identifies the deployment recipient, not its current balance, reserve coverage or signer control.
View the initial recipient on BaseScan
Distribution and disclosure
The application distributes rewards from the existing token supply through its account and withdrawal systems. Reward credits do not mint new tokens on-chain. The contract does not encode reward-rate rules, vesting periods or allocation buckets. No additional vesting or allocation schedule is published in this paper.
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Daily ride reward rates
Yesterday's eligible transport fare sets today's rates. Each published UTC day's rates stay fixed.
Let F be the total eligible transport fare, in US dollars, recognized during the previous UTC calendar day. The program uses an estimated combined rider-and-driver pool of 2,500,000 URT and maximum rates of 1,000 URT for the rider and 100 URT for the driver per $1 of eligible transport fare.
If F = 0: scaling factor = 1
Otherwise: scaling factor = min(1, 2,500,000 / (F x 1,100))
Rider rate = 1,000 x scaling factor
Driver rate = 100 x scaling factor
Both roles use the same eligible transport-fare amount. The driver rate is not applied to the driver's dollar earnings. This creates a nominal 10:1 rider-to-driver rate design. Exact rates and individual awards are independently rounded down to no more than 18 decimal places.
| Previous day's fare | Rider URT / $1 | Driver URT / $1 |
|---|---|---|
| $0 | 1,000 | 100 |
| $1,000 | 1,000 | 100 |
| $5,000 | 454.545455* | 45.454545* |
* Displayed to six decimals for illustration. The account service calculates exact amounts with up to 18 decimals.
A rate day runs from 00:00 to 24:00 UTC. California revenue reporting uses a different business-day calendar and does not determine URT rates. The token profile shows the applicable published rate and its UTC date.
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Eligibility and account credits
Eligible rewards are credited when a completed ride's final fare is fully paid.
What qualifies
A qualifying ride must be completed, identify both a rider and a driver, and have its fare fully covered by recorded cash, confirmed card fare payments, existing ride credit, or a supported combination. Unpaid card requests and canceled or contested rides do not qualify for ride rewards.
Rewardable fare is the settled transport-fare amount after applicable fare discounts. Tolls and tips are excluded. Cash change, excess cash kept as rider credit, and later tip adjustments do not increase this ride's rewardable transport fare. Fare paid using existing ride credit still qualifies.
When a reward is recognized
The account service records the fare when it recognizes eligible full payment, using the applicable UTC reward day. A card payment received later can therefore use a later reward day than the ride's completion day. Recorded daily rates and per-ride reward records are retained so replaying a payment or completing a retry does not create a second ride award.
Administrator allocations
The founder allocation is 100,000 URT per UTC day. Each other approved administrator has an allocation of 1,000 URT per UTC day. These application-ledger allocations are separate from the estimated 2.5 million URT ride-reward pool and are not rider or driver ride grants.
The program's rates, eligibility rules and operational limits are application policy. This version publishes the current rules; it does not promise unchanged rewards, a guaranteed distribution duration, or rewards beyond available program capacity.
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Wallet withdrawals and limits
Withdrawal requests are made from an authenticated Ultra token profile, not this public website.
Choose the correct account
Sign in as rider, driver or administrator and open that role's token profile. Check the available URT balance and the current withdrawal requirements.
Supply a Base receiving address
Enter a valid wallet address and an amount meeting the current application minimum of 100,000 URT. Acknowledge the digital-asset tax and recordkeeping notice. Check the network and full address before submitting.
Follow the request status
The current flow queues eligible requests for automatic processing without a separate administrator approval. An account can have only one open withdrawal request. The profile shows the request state and transaction information when available.
Automatic transfers depend on the payout service being available, sufficient URT in its payout wallet, Base ETH for network fees, and configured transaction and daily limits. A request can wait or retry; no transfer time or uninterrupted availability is promised. The profile presents the currently applicable limits.
The payout service checks the token contract and exact transfer result and records the account balance reduction after a confirmed transfer. A displayed request or transaction submission is not the same as a completed transfer. Confirm the receiving address and transaction on BaseScan.
Risks users should understand
- A wrong address, unsupported receiving service or wrong network can make tokens inaccessible. On-chain transfers generally cannot be reversed by Ultra.
- Application outages, account restrictions, payout funding shortages and blockchain congestion can delay access or transfers.
- Tokens have no guaranteed price, return, exchange listing or liquidity. The project does not promise redemption for dollars or automatic conversion to ride credit.
- Wallet security, token allowances and private keys remain important. This public website does not request wallet signatures or collect seed phrases.
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Status, sources and official channels
Public documentation should make the current system understandable without overstating its readiness.
Current status
The Base token contract is deployed. The Ultra Rideshare transportation platform remains in development and testing as of 4 October 2026; transportation services are not yet offered to the public. California public service will begin after the required governmental and regulatory approvals. Follow the official website for availability and release announcements.
This version makes no claim of an independent security audit, exchange listing, liquidity arrangement or partnership. No additional vesting or allocation schedule or guaranteed distribution duration is published here. Public source-code verification is the verification claim made in this paper.
Official channels
- Ultra Ride Token websitehttps://www.ultraridetoken.com/
- Ultra Rideshare websitehttps://ultrarideshare.com/
- Supportsupport@ultrarideshare.com
- Founder: Mustafa Twaijhttps://www.linkedin.com/in/mustafa-twaij/
- Privacy noticehttps://ultrarideshare.com/privacy.html
Public records and reading
- URT token and on-chain transfershttps://basescan.org/token/0x5e78161Bd943828087C33ff0C228cF9282518fa0
- Verified contract sourcehttps://basescan.org/address/0x5e78161Bd943828087C33ff0C228cF9282518fa0#code
- Current public token metadatahttps://www.ultraridetoken.com/api/urt/public
- Current public reward explanationhttps://www.ultraridetoken.com/#questions
Contract facts were checked against the verified deployed source, and application rules against the implemented account and payout services. These checks are not an independent security audit.
Version 1.0 - 4 October 2026. The HTML and PDF describe the same version. For corrections, contact support@ultrarideshare.com. Check the website for later operational updates.