Future Vision of FundYourselfNow and Updated Token Model
The past few months have been really hectic for FundYourselfNow Team. We have been working hard on developing new business lines and products.
When we started off last year, we only had a prototype. As written in our initial white paper, our vision was to:
- Provide a listing platform where users can conduct their token sale easily
- Help users raise the funds they need
- Provide mentorship and marketing support for projects on the platform
- Trade tokens easily on our platform
On Point 2, we have started J Capital last year.
J Capital — The Investment Firm
J Capital is an investment firm which focuses exclusively on ventures, tokens & projects related to Blockchain tech. Currently we have around 20M of assets under management. We currently put in between 250k to 1M for each project that we support & we have participated in many of the top tier ICOs globally, such as Sentinel Chain, PolicyPal, GBX etc. J Capital has supported several FYN projects, such as Viola.AI, Carbon grid protocol & Codex protocol.
On point 4, FYN has been confirmed as the official partner of CoinChangeX
CoinChangeX — The Decentralized Token Exchange
CoinChangeX is a decentralized exchange that lists Quality tokens at a reasonable cost. CoinChangeX shares the same vision as FYN on helping the small entrepreneurs make their ideas happen, as big exchanges nowadays charges a hefty amount for listing. Why is this a great news for FYN Members?
This is because:
· Projects on FYN will get a priority listing (<1 week) on CoinChangeX, subject to legal review.
· Users holding FYN will get a discount on trading fees, with trading being completely free above a certain amount of FYN.
I am proud to say that we have achieved the first iteration of our vision. At FundYourselfNow, we now have a platform where projects conduct their ICOs with the support they need, raise funds and have a marketplace where their supporters can trade tokens post-ICO.
Future Plan of FundYourselfNow
To start off, the ICO market has been rapidly changing over the last year due to regulations & the rise of big cryptocurrency funds. Last year, many ICOs had 20% private sales, 80% public sales. This year, the situation has completed reversed with most of the ICOs having 80% private sales or even more. The majority of the funds raised via ICOs now is offline via email and private deals, instead of a transparent process conducted via smart contracts that we originally envisioned. As a result, the overall public crowdfunding amount has decreased significantly together with a noticeable lack of interest in public sales.
For a traditional investor to get into private sales with the top tier bonuses and discounts, many ask you to put in a minimum quantum of at least $100,000 and above, and be an accredited investor.
For FYN, J Capital will open some allocation from our own private investment pool to FYN token holders on our platform. This will allow FYN token holders to participate in private presale deals for some of the upcoming ICOs. Note that J Capital will normally top up the rest of the pool amount, so that we reach the minimum investment to enjoy the bonus tier.
Over next few months, we will be organizing J Capital/FYN events for our companies and also attending and speaking at events to reach out to top tier ICOs. One upcoming event that I will be speaking at is the Ceza Fintech Summit on May 21th in Philippines, with the keynote speech by Philippines Secretary Lambino.
We will also do a monthly vote to see what are the projects FYN should approach to form a pool for.
New FYN Tokens Benefits
- Access to exclusive deals via ICO pools on FYN platform
- Trading discounts on our partner CoinChangeX website.
- Staking Benefit monthly.
- Bounty Airdrops from listed projects.
FYN token will be revamped as a membership token, where token holders get access to a set of unique benefits which is not available elsewhere.
On a side note, Vinaex, an exchange that we launched in January this year has been gaining good traction in the Vietnam market. We are working on opening 3 more crypto-fiat exchanges in Taiwan, Cambodia and Phillipines by end of the year.
As we continue to build more services and on-board more partners, we will look at incorporating FYN tokens where we can, to make the entire membership model more attractive.
If you are interested in partnering with FYN to offer an exclusive deal for us, please reach out to contact@fundyourselfnow.com.
We are also happy to hear more feedback from you on our FYN telegram group.
Warmest Regards,
Kenneth, Co-Founder, FYN
