First thing first let’s define ICO. Initial Coin Offering is today the more popular way to fund cryptocurrency projects. It’s an event in which early adopters and enthusiast can buy cryptocurrency tokens. ICOs provide a way for cryptocurrency project to raise money for their operations.
FundYourselfNow is a simple platform to allow project creators/promoters to raise funds for their projects using cryptocurrencies without the need of technical knowledge. If you already want to join the crowd sale, you can find more details about the date and conditions on FundYourselfNow.com .
1. Backers have control on their assets.
To ensure the project success, creators will have to deliver proof of progress and stay connected with the community.
The milestone based funding system, give to bakers control over their investment. They can vote to delay furthers milestones payments or to stop them.
- If 40% or more backers feel that the project has failed and made an effort to vote against it, the remains funds in the smart contract will be refund. (40% is subject to further changes until product launch).
2. Community can help and receive rewards.
Project creators can seek for skilful help directly from the community and later on from professionals.
Project helpers will be reward with bounty credit:
- At the end of the fundraise the platform will reward helpers with project tokens (ERC20) depending of the amount of credit they have and the % of total tokens assigned for community.
- They will have the choice between rewards on the project page or convert their tokens to virtual currency and eventually actual cash if they wish to.
3. Investors can have a good ROI.
By buying and holding FYN tokens backers will be rewarded:
- Every 6 months the company will distribute 70% of profits to investor by achieving a buyback program. Indeed, the tokens bought back will be burned to reduce the overall FYN token supply. This program will logically increase the remaining tokens values.
- The main advantage of buyback over dividends is that you are normally not taxed until you sell your tokens for fiat money.
4. FYN can be very competitive.
Traditional crowdfunding platforms suffer from high payment transaction fees. A project creator on Kickstarter would typically have to pay up to 9% of the amount raised to Kickstarter after including the transfer fees (3–5%) and listing fees (5%).
By using cryptocurrency FYN can avoid charging transfer fee they will only charge a 5% listing fee for each successful project fundraising. So project creators can make a significant 44% savings by choosing FYN over Kickstarter for example. That can make a huge competitive impact to win market shares.
To learn more about the project you can check the White Paper and make sure to follow FYN team to stay tuned:
Feel free to ask me any questions.
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