- Exciting Changes to FYN Token — Staking, Marketing Pool & More!
FundYourselfNow has decided to completely revamp its token model, which was initially created in early 2017 before the token sale. A lot of things has been changed since then, and now we are glad to announce exciting news for all our token holders!
Currently, we have around 7% of FYN tokens in circulation (850k out of 12.5M). Over the last 3 months, we have been collecting feedback from our community, Business Partners and Advisors on how to make our token more exciting.
We are glad to announce the FYN Staking Program (2M Tokens allocated, ~ 8M USD value)
By staking FYN tokens and holding FYN tokens in your Ethereum wallet (registered in your FYN profile), you will be getting FYN tokens sent to your wallets every quarter. The staking programme will be conducted at the end of every quarter till 2019, lasting a period of 2 years.
The staking schedule and cumulative rewards is as follows:
Based on the table above, for each FYN you hold till Q4 2019, you can expect to get up to 2 FYN tokens back.
Note that there is a special bonus for true FYN holders. If you have not transferred out any FYN tokens for 2 years, you can expect a large stake reward. At the end of Q4 2019, we will distribute the remaining tokens to all participants that have held FYN for more than 2 years. For example, if there is 500k tokens (out of the 2M allocated) remaining in the staking pool, these 500k will be distributed in proportion to all stake holders that have not transferred FYN out.
To be eligible for the Staking program, you must:
1. Sign up on www.fundyourselfnow.com and put in your Ethereum address in your profile.
2. Join FYN telegram group at t.me/fundyourselfnow.com.
3. Have at least 10 FYN tokens in your wallet during the last week of every quarter.
Do note that the percentages are subject to change depending on the success of the program.
In addition to FYN Staking Program, we are also introducing the below programs to let FYN token holders earn more tokens for supporting FundYourselfNow in any aspect!
FYN Marketing Program (1M Tokens, 4M USD)
We are setting up a FYN Marketing pool to reward supporters of FYN and boost visibility of FYN. Some of the ways in which these tokens can be used are given below:
a) We are planning to perform FYN token airdrop to every Etheruem wallet that holds more than 1 Ether. This is similar to what OMG did successfully for their token.
b) Tokens will be used to reward community for participating in FYN competitions & offline events, and reward our community champions who write articles and create videos for us.
c) Collaborations with exchanges, where tokens could be used as a prize for trading competitions on the exchange itself, e.g. what Monaco did with Binance.
d) Reward Reviewers who write top quality reviews/comments for projects on our platforms.
Besides this, we are making changes to our FYN community marketing program. For listing, we will require all the projects to give us a small % of the tokens. These tokens will be airdropped to all FYN community users who performed a simple action to support them, for example joining their telegram group. The process will be much faster and easier.
FYN Liquidity Pool (1M Tokens, ~ 4M USD)
The liquidity pool is for us to facilitate bulk purchases of FYN by projects. Beginning Q1 2018, we are expecting projects to start taking FYN in their token sale. We want to make this process as easy as possible. Note that the funds received (Ethers) will be used to purchase FYN back in the open market on the behalf of the projects.
New Era Energy is the first project that will take FYN in significant amounts.
FYN Employee & Advisor Pool (1M tokens, ~4M USD)
Employees and Advisors can choose to purchase FYN and get a 30% bonus tokens, subject to a cap based on their salary & contributions to FYN. Bonus tokens given are subject to a vesting period of 6 months. We want every employee and advisors to have a stake in the growth in our company. This token pool will also be used to attract strategic partners to come on board FYN.
Company Reserve Pool (6.65M Tokens)
The reserve pool will be used for:
- Second Fundraising Round at end 2018 if required
- Future company initiatives
- Founders Tokens
We really hope that the above Staking Program will prove beneficial to all our token holders. We have always tried our best to serve you guys better. There is one more program coming out next week for FYN Members — FYN Starter Program. We will be announcing the details soon!
If you have any questions, shoot them in our Telegram group.
Stay tuned & enjoy the AIRDROPS!
Exciting Changes to FYN Token — Staking, Marketing Pool & More! was originally published in Good Audience on Medium, where people are continuing the conversation by highlighting and responding to this story.
- Date of publication:
- Fri, 02/09/2018 - 21:07
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