Current — Our Evolution, Mission, 7-Figure Revenue Growth, & Roadmap | $CRNC Unlock: Token Economics, Dividends, & Liquidity

TLDR; Key Announcements

• What Current is building and where it’s going (Hint: it’s not just a music app), what has gone well and what could have gone better.
• 84% MOM growth, achieved a mid-7-figure run rate for 2020, on target for 8-figure run rate in 2021, 1M MAU, future roadmap.
• 40M $CRNC Tokens reserved to support a digital dividend program starting in 2021. Continuing with up to 15% of revenue from Current product lines thereafter.
• The migration to Securitize iD has begun as of Monday, September 21st. Those already registered through Securitize received an email inviting you to the new platform. To interact with the token once unlocked, you must be whitelisted through Securitize iD.
• Once the migration has been completed by the vast majority of SAFT holders, the $CRNC Token contract is scheduled to be unlocked and can be moved peer-to-peer amongst token holders, and those whitelisted; concluding part 1 of the $CRNC unlock plan.
• Security token industry updates and part 2 of the unlock plan, exchange listings, potential for liquidity, and yield farming solutions for security tokens.

Why Current is Not Focused on Being Just a “Music” App

Some think of Current as nothing more than a basic radio app, seeing little to no purpose to what we are actually doing or building. “Years behind and under-resourced in comparison to other giants like Pandora or Spotify; a company lurking in the shadows of their “view only” telegram channel; incompetents who are unable to accurately predict the timeline on when their token will release.” Today, one of our goals is to shed some light on those who may not have the full picture. Namely, what we have achieved, where we have miscalculated, and what is still to come.

We don’t consider Current to be in the music industry. Yes, music is a feature within the product and a source of how we first appeal to our target users. But, it is not the core focus of what we are working on. Instead, we are setting the stage for what we believe the most critical and relevant industry trend is of the last two decades: The Attention Economy.

For years, tech companies around the world have catered their products to the world’s most affluent people (if you are reading this post, you likely fall into this category), those with the means of paying for things such as high-end electronics, expensive monthly subscriptions, and everything in-between. In the off chance a monthly subscription didn’t make sense within the business model, tech companies relied on highly intrusive data collection practices to serve advertising through machine learning algorithms that know more about you than you know about yourself — giving you nothing back in return, besides the dopamine hit from your next phone notification.

While we are not here to correct every practice of these tech giants, we are aware of what is happening and firmly believe that society’s digital norms will gravely change in the years to come. Thus, we have been tirelessly working on a new business model that more closely aligns value exchange between what we consider the largest cohort of underserved users globally and the marketers who want access to them. These are the same people who may not have the luxury of having much discretionary income but may have more time and attention on hand than the six-figure per year consultant, lawyer, doctor, manager, trader, etc. At Current, we focus solely on the bottom 70% of consumers — those who make less than $50k/year, alongside the corresponding global markets. We turn attention and data into dollars — not only for our users but for advertisers and Current too.

Current’s mission as a company is to create products that enable income-conscious consumers to earn additional passive income from their everyday habits.

We first started down this path with the simple concept of building a music product that rewarded users for listening. As we continue to expand our offerings within Current and the Mode phone, users can earn through many other ways such as charging and unlocking their phone, playing games, sharing data and opinions, reading news, browsing the internet, checking the weather, shopping, interacting with other partner products, and more. Within our unique business model, there lies an opportunity to provide passive income and new services to one of the largest underserved demographics worldwide, representing the vast majority of consumers.

Building Sustainable Products Consumers Want is No Easy Task

If you are reading this post, you’re likely involved in the crypto world in some way — the only place where one can achieve 10,000% returns in a matter of days or weeks, not years or decades. Where Yam’s and Sushi’s are no longer just food; they are where you can go to see 2,500% APYs on your digital internet money. Where overhyped projects and countless meme shills on the next big coin are welcome, celebrated, cherished, and shit on all at the same tweetstorm. A place where pumps-and-dumps and exit scams run rampant. Fundamentally, whether 80% of the latest DeFi craze is just another ICO-like bubble or not, we believe there is real value in what several others out there are building. However, there is also a tremendous amount of complete and utter nonsense going on in the crypto markets, and it’s just not sustainable. It will come crashing down, and those who are not wary will be left holding big empty bags — just like last time. Building something of value that people want, that also makes enough money to be sustainable, takes a tremendous amount of time and resources. Some of the world’s largest, most coveted companies (e.g., Uber, Airbnb, Snapchat, Spotify) took several years to get the first part down. Even today, they are still burning billions of investor’s dollars per year and are yet to be genuinely sustainable. That being said, we can most certainly empathize with the delays encountered along the way and the impact it has had on all of our stakeholders. We have heard just about every type of opinion on what we should or shouldn’t be doing from the community over the years. Some of which have been very insightful, but some of it has also been very short-minded, in line with the exact same reasoning why we see so many pumps-and-dumps, SEC enforcements, and digital Ponzi schemes every month. At Current, we have not, and never will, build with a focus on just the short-term. We focus on building sustainable value; we aim to be a unicorn, not a fly-by-night, one-hit-wonder. For that, if you think we are “scammers,” then that is your prerogative, and there is little we can do to change your mind other than deliver on the product and the resulting financial outcome from building something sustainable that adds value. It may take longer than we all would have liked, but it’s the only formula that works long-term.

Where We Are Now

Three years into our product-first focused approach, our efforts have resulted in Current exceeding expectations month-over-month. We have grown our user base to over 1,000,000 Monthly Active Users (MAU) across product lines, generating billions of monthly ad requests, nearly 400k app store reviews, approaching 100M streams per month. We have a clear path to profitability, which exceeds our 2021 target by almost 14-months. Over the last 12-months, Current experienced 25% month-over-month revenue growth, with north of 84% growth month-over-month over the previous 4-months alone — all the while maintaining a lower revenue to marketing-dollars-spent ratio. We have already hit a mid-seven figure run rate for 2020 and are on track to hit an eight-figure run rate in 2021 with industry-leading gross margin metrics.

Current’s position of strength is predicated on financial unit economics that rival and even surpass much larger subscription-based paid consumer products. When freemium products came out in the market, people thought it was crazy to provide something for free. We are going one step further and not only proving out free user unit economics, but doing it while also rewarding our users. We’re incredibly proud of these achievements, even more so considering how many challenges we’ve overcome to get to this point.

Where We Are Going

When first building Current, one of our biggest hypotheses was that a large subset of income-conscious users would be interested in using free products that paid them for their time over more traditional freemium products (i.e., someone using Current vs. Pandora or Spotify Free).

This business model would only be made possible by bringing in other daily habits into a “super-app” like interface; focusing on a specific target market — consumers around the world who make under $50k/year; and incorporating a reward-based earning system while creating unique UX/UI features that you wouldn’t traditionally see in other non-rewarded experiences.

Super Apps: Incorporating Other Daily Habits

Over the last three years, we have not only seen that our target users are indeed open and willing to engage with products that encompass more than a single core feature, but that some of the world’s most prominent investors, including Andreessen Horowitz (A16z), also believe there is significant opportunity in this type of structure. Traditionally, several software products in the West have focused on singular product missions and revenue streams. Our belief is that we will see a convergence of other services within experiences that already appeal to users, much like we see in the East with services like WeChat or Meituan. For us, that initial singular focus was audio (also one of the categories A16z, sees extreme consumer growth in), which has now expanded into various other offerings (Games, Unlocking, Charging, Shopping, Offers, Video, Browsing, and More). Our thesis behind this aligns with our mission focused on creating passive income opportunities based on people’s everyday daily habits.

We see Current becoming the first-ever Reward-Based Android User Interface, and we are calling it, Earn UI. Earn UI will power the Mode Smartphone and will become the foundation of the Current software stack. We believe Mode is the natural evolution of our mission in the form of a unique distribution channel. We provide the highest price-per-performance ratio for a device worldwide and provide value back to the users and the company in the form of earning opportunities through our software. As an OEM, we have an extended and more profound connection with our customers, enabling new revenue opportunities that traditional software companies may have difficulty executing due to app store limitations.

Underserved Consumers, Emerging Markets, & Fintech

Our demographic of users are 95% Android-based and traditionally underserved in the tech industry (from the consumer products they use, to the financial services they access). There is a notion that because these users have less disposable income, they are not as valuable to build products for (this podcast with A16z partner Angela Strange also mentions this specifically). We fundamentally believe this is one of the largest underserved opportunities in the tech industry and are seeing early proof of that (both domestically and internationally) with our unit economics.

As we began to find product-market fit with our users, it became very clear that the reward component of Current is very closely tied into people’s finances. Users want to make extra money, save money, access to money, deals and are open to new opportunities as long as the platform can deliver. As we began to experiment with our offerings, we noticed more and more people are open to doing activities outside of what they initially came into Current for (listening to music).

One of the critical areas we are excited about is what we are doing ties back into Fintech and why that is very relevant to our underserved demographic. While this is something we will not be working on in 2020, we do believe we will see a big shift in all types of companies offering fintech products directly to their users. We are keen to experiment with this in 2021 and believe that being a crypto-friendly company will also provide new and exciting financial opportunities for our user base.

Creating Unique Reward-Based Experiences With Earn UI

Current has an advantage over other more traditional freemium products because users within Current get rewarded for their actions within our system and are willing to engage with unique experiences otherwise uncommon in non-rewarded experiences. This opens the door to opportunities that users can further engage with to earn more rewards and more revenue for Current. Rewarded actions include market research, testing new products and offers, and enabling unique experiences on your smartphone. Examples of these include:

Lockscreen Media Player & Check-in Reminder

Play games through Current and earn for every minute you play.

Promoted Direct Offer Redemption Rewards

Current & Mode Phone Chargescreen / Foreground Music Player

Mode Phone EarnUI Widget

An example of these promoted direct offers is Current referring users to other popular crypto products. Current’s products are crypto-friendly in the sense that we’ll soon be adding the capability to earn and redeem cryptocurrencies directly from within Current. Having already partnered with Coinbase Earn as an affiliate and other exchange partners on the horizon to redeem points instantly into BTC, ETH, stable coins, and other blue-chip cryptocurrencies. These partnerships yield referral-based revenue opportunities for Current as we provide access to our large user base to these partner services.

These various income streams are all part of the digital dividends program for $CRNC holders, (Please see the bottom of this post for more information on digital dividends).

Miscalculating How Long Regulation Would Take

After officially closing our fundraise in July of 2018, details of the offer were reviewed by the United States Securities and Exchange Commission (SEC). It was common practice with companies closing a registered token offering at the time and one that continues till this very day. A few months later, the SEC informed us that, upon review of all of the materials associated with our offering and repurchase/rescission offer, that it was taking no action towards the company. Although the SEC is not in the business of handing out gold stars, its no-action letter, at a time when several high-profile projects were being fined and ordered to take costly remedial measures, provided Current with a clear path forward. It was clear that to maintain 100% compliance, Current would be required to refrain from listing on major cryptocurrency exchanges which lack the required ATS licenses to trade securities, listing on decentralized exchanges, and the token model would fundamentally need to abide by existing securities laws, (an “unpopular” result of a fully compliant offering). A narrative made even more unpopular due to the proliferation of other “compliant” companies seemingly operating autonomously. In reality, these other companies are just assuming high levels of risk, which may, or may not, prove to pay off in the long run. Given the potential repercussions, Current was (and still is) unwilling to take these risks until regulatory guidance suggests otherwise. With none in sight in 2018 and lack of infrastructure to support the volume required by the $CRNC Token to trade on a secondary market, Current chose to keep the token locked and became laser-focused on product development and the underlying metrics that make up our business model and token economics. A decision, we feel, has paid off considering what Current has been able to achieve while allowing for a nascent digital securities industry to make progress.

As the cryptocurrency markets began to decline throughout 2018 and 2019, the market shifted in search of new opportunities. Many proclaimed Security Token Offerings would be the next big evolution. This drew in a handful of issuers that previously held ICOs, new issuers launching never before seen offers within the crypto/digital securities realm — the Reg A+ offering, and new financial services to handle every aspect of the compliance requirements. A couple of smaller secondary liquidity markets popped up but lacked the volume and liquidity to support the market. One of the biggest challenges to date has been the fact that technology has indeed outpaced the regulators. The incumbents in the financial industry have existed for nearly 100 years, and many feel that the regulations being applied to digital securities don’t match the new technology. It’s not fair to say that the regulators are unwilling to accommodate, but with it being so new, it’s taken time for them to deeply understand the topic on top of all of the actions taken against companies from the ICO days. However, these challenges have not stopped the financial services companies involved in the digital securities industry from making progress.

Until late 2019, there was no key player with the right funding, regulatory approvals, and industry contacts in both the crypto and securities space. Now industry leaders, Securitize (an SEC-approved transfer agent), drew significant investment from incumbents across the crypto industry such as Coinbase Ventures, Blockchain Capital, Fenbushi, SBI holdings, Banco Santander, and several others. Current partnered with Securitize in 2019 as our Transfer Agent to handle $CRNC Token issuance and maintain compliance of our cap table to the highest standard. The industry is still small but will continue to grow. In terms of issuers, as of today, there are only 24 listed assets on Security Token Market with a collective market cap of nearly $525M. This is still a far cry from the size of worldwide crypto markets but has grown tremendously ever since Overstock’s dividend-bearing OSTKO token was listed in 2020, which now represents over half of the collective market cap. There’s no questioning the success of the model. As the industry continues to grow, we’ll soon see broader secondary markets with the volume and liquidity necessary for large-cap digital security tokens. And just as likely, with the DeFi craze over the last year, we believe there will soon be compliant products that expand into yield farming and other liquidity solutions for security tokens.

Regulatory progress has been slower than anticipated, as it’s taken time to build the supporting infrastructure. But, at the end of the day, it’s a new concept aiming to fundamentally change the broader traditional investment landscape and how people take control over their money. The laws will inevitably adapt, but it’s reasonably expected that regulators remain cautious as they pertain to securities that have only slowly changed over the last 100 years. The few digital security incumbents are in a large part setting the stage for much grander plans including the development of new platforms and exchanges, updated compliance services, and updated regulatory guidance, all of which depend on one another and pave the way for a new era of the issuer.

One of our most considerable challenges to date is that all of this information on our product’s evolution in the context of the digital asset landscape makes it challenging to synthesize in an accurate, real-time manner for investors. More often than not, we provide transparent updates that include the business’s health, what we have accomplished, and what we’re working on in any given period. Generally speaking, we have been great at keeping a cadence of 4–6 weeks between these updates while testing different formats. As things have evolved extraordinarily fast on a product level and very slow regulatory-wise, it’s clear that we have done a poor job articulating to investors and the community our company’s purpose, its planned evolution, and how it affects the $CRNC token. For that, we apologize and will make it a priority to improve.

Token Unlock Part 1: Securitize iD Migration & Peer-to-Peer Trading

Current began its migration from Securitize’s existing issuer-specific compliance platform to its latest iteration, Securitize iD, on Monday, September 21. Securitize iD is a common identification system that streamlines the know-your-customer (KYC) process for all participants within the ecosystem. A customer can sign up on Securitize iD, submit their KYC documentation, and be assigned an identifier that is used across the ecosystem. If a customer wants to sign up with another issuer or exchange that accepts Securitize iD, they can use a single click to submit the same KYC documentation, rather than go through the process again.

Securitize iD is an actively managed service by Securitize and provides for a whole host of benefits that include:

1. Faster and Unique Verification: Securitize iD allows investors to complete KYC once in a process that can be carried out in minutes. They can then reuse their identity, ensuring consistency in their records and satisfaction for the user.
2. KYC for individuals: Securitize iD supports a high-grade investor KYC which includes selfie identity, government-issued photo ID, and proof of residence.
3. Entity KYB: Securitize iD supports verification of businesses, complying with all the requirements of Knowing Your Business (KYB), including but not limited too, ultimate beneficial owners, organization incorporation documents, and KYC of legal signers.
4. API First: Securitize iD can connect with any platform to integrate a KYC verification flow easily with any existing business processes.
5. Nightly Screening: ‌Securitize uses a third-party service provider to conduct nightly screening on all investors that have been onboarded through Securitize iD. The investors are screened against various domestic and foreign government sanction watchlists inclusive of OFAC, European Union, Interpol, and many more.
6. ‌Ongoing Monitoring: Securitize iD keeps the investor’s documentation valid and up to date by automatically prompting investors to upload a new government-issued photo ID should it expire.

This is a major improvement that acts to further reduce the complexity of compliance obligations for Issuers, Transfer Agents, Broker-Dealers, Custodians, Exchanges, and other services that make up the ecosystem. While Current’s migration was planned for later this year, it’s been required by Securitize that all issuers immediately complete this step. Existing SAFT holders and those that have whitelisted through Securitize will receive an invitation via email to commence the process. Once the majority of SAFT holders have migrated to Securitize iD, the $CRNC token unlock will promptly follow.

Once the token contract is unlocked, the token will be freely moveable to and from any Securitize iD whitelisted wallet. Once the token is unlocked, peer-to-peer trading is allowed amongst other whitelisted wallets. Any time a $CRNC token is sent to a non-whitelisted wallet, the transaction will simply fail. To start, Current will have a cap in place, limited to 2,000 total holders, or 500 non-accredited holders of record as dictated by Section 12(g) of the Securities Exchange Act of 1934. Once listed on an ATS compliant exchange, it’s planned to remove these caps, making it available to retail investors. Once the cap is exceeded, we will be compelled to formally register with the SEC as a “Form 10” filer and be required to file and publicly disseminate financial information (e.g., 10Qs and 10Ks) within 120 days of the end of a fiscal year. Once this feature is enabled, part 1 of the $CRNC token unlock will have concluded.

Token Unlock Part 2: Compliant ATS-licensed Exchange Listing & Trading Caps Removed

To date, there have been no worthy solutions that fit the criteria to trade $CRNC without having to accommodate serious trade-offs. Many of our investors have been critical of an earlier decision to list on Openfinace, due to inadequate liquidity volume in favor of an alternative solution once one becomes available. In Asia, Fusang or CryptoSX can now list digital securities — Fusang recently listed SpiceVC Token — although both are limited to non-U.S.-based investors. tZERO, home to industry-leading Overstock OSTKO, tZERO’s tZROP, and recently listed the St. Regis Resort — ASPEN Digital, doesn’t yet have the infrastructure and regulatory approval required to trade on the blockchain — meaning an asset would only be allowed to be traded within tZERO (although this could change in the near future).

More importantly, these aren’t the only companies within the industry, as several other significant players are quietly working behind the scenes with the required licenses. Considering the amount of progress being made by industry partners, we can confidently say that we’re expecting to see a quality, compliant ATS-licensed exchange with proper liquidity solutions announced and subsequently launched in the coming months with others to follow throughout 2021. Once listing occurs, Current intends to initiate the process of filing a “Form 10” registration with the SEC and begin our public reporting requirements.

$CRNC Token Distributions & Unlock Schedule

At the time of our token sale, Current earmarked 1 billion $CRNC Tokens to be issued and/or set aside for typical participants in these projects: (i) investors; (ii) team members; (iii) bounty participants; and (iv) to operate the underlying project. Over time, we concluded that Current might not need all 1 billion $CRNC Tokens to create an efficient ecosystem. Therefore, Current intends to immediately cancel or burn a minimum of approximately 300M $CRNC Tokens or 30% of overall supply; bringing down the total supply to a maximum of 700M $CRNC Tokens to create more optimal token economics for the Current Ecosystem. Additional supply has been reserved in the event Current can compliantly utilize a yield farming-like solution in which case a portion of the tokens in Treasury would be reserved for liquidity rewards. More on this below.

The $CRNC Tokens are allocated amongst these stakeholders:

SAFT Investors (Unrestricted): 345,631,098 $CRNC Tokens

Advisors (Unrestricted): 16,140,366 $CRNC Tokens

Bounty (Unrestricted): 466,592 $CRNC Tokens

Founding Team & Early Contributors (Allocated — Restricted): 83,654,167 $CRNC Tokens

Future Team Members & Partner Contributors (Reserved — Restricted): 66,345,833 $CRNC Tokens

Treasury (Reserve for liquidity rewards & partnerships — Restricted): 147,761,944 $CRNC Tokens

Treasury (Reserved for 2021 token holder digital dividends — Restricted): 40,000,000 $CRNC Tokens

Intended Total Token Supply = 550,000,000–700,000,000 $CRNC Tokens (Variance reasoning below)

SAFT Holder Bonus Distributions

Once the token is unlocked, SAFT holders will begin to receive their bonus distributions 1 month following unlock. For the majority of SAFT holders, their bonus periods last between 3 and 6 months. However, those that opted-in for the additional bonus distributions will delay receiving their bonus by an additional 4-months.

Advisor Distributions

Current’s advisor tokens will unlock in the month following unlock and were assigned a distribution schedule ranging anywhere from 3 to 24 months.

Bounty Distributions

Bounty participants aided Current during the token sale to help spread community awareness, create videos, translate information, and more. Our approved bounty participants registered via CoinList to claim 466,592 $CRNC Tokens. Each participant will be notified by email with instructions for distribution, scheduled for one month after the token is unlocked.

Team & Partner Contributor Distributions

Current has reserved a total of 150,000,000 $CRNC Tokens to be distributed amongst its team. The unallocated $CRNC Tokens are planned to be reserved for future employees. Employee allocations are vested over four years, with 25% unlocked every year, starting on the first anniversary from listing on an ATS compliant exchange. Our unlock, and distribution plan is designed so that no team and/or employee tokens are unlocked until well after the $CRNC Token is available for trading on an exchange.

Current’s Treasury & $CRNC Based Digital Dividends

The $CRNC Tokens that have been placed into the Treasury can either be used or burned from the overall supply. Current plans to use an allocation of 40,000,000 $CRNC Tokens as supplemental digital dividends to token holders, excluding what’s restricted (Team and Treasury). These would be distributed on a quarterly basis, commencing in Q1 2021, before transitioning to cash-based dividends which may be payable in cash, stablecoins, or other cryptocurrencies. The initial $CRNC Token-based dividends allow for cash reserves to be further built up in an effort to make a greater impact for token holders. Treasury tokens could also be used for future liquidity rewards via yield farming, bounties, promotions, partnerships, or other growth opportunities as long as they are above-board from a regulatory perspective. It’s important to note that Treasury tokens cannot be granted to existing or future team members. If the determination is made that these tokens do not have use beyond the above reasons, they may simply be burned.

$CRNC Token Economics

At its core, the goal of our economic model is to provide value to all stakeholders within Current’s ecosystem. We firmly believe that our unique deflationary model will provide a strong foundation for the $CRNC token’s growth and perhaps even set a precedent for other projects in the future.

Two key functions allow Current to distribute value back directly to token holders.

Digital dividend payments

1. Distributed from Treasury Tokens (if paid in tokens vs. cash)
2. Distributed from a percentage of revenues across company verticals

Deflationary token mechanics

1. Limiting the overall supply to a finite number of tokens
2. Burning tokens (Initial reduction of 30% of token supply before unlock)
3. The option of using a percentage of revenues to buy back tokens off-market to be burned

Current’s model is considered deflationary in the sense that the total supply of tokens is limited to a finite number of $CRNC Tokens and is intended to decrease over time through pre-scheduled burns at the company’s discretion. As mentioned previously, to start, Current intends to immediately cancel or burn 300,000,000 $CRNC Tokens as it has been determined that these tokens no longer serve their intended purpose as an integral part of the ecosystem. Tokens allocated to Current’s Treasury may also be burned and therefore removed from existence.

Current has been approved to allocate up to 15% of net revenue to be used for either token buyback and burns or dividends. It may be decided that a more effective use of these funds would be to use them for royalties/dividends as that directly passes back value generated from Current’s product lines to token holders. In this case, the funds would not be used to lower the token supply further, and holders would get a prorated rev share correlated to their token holdings.

The structure of the dividend payout to $CRNC token holders will be as follows:

• As of today, there are approximately 242 million $CRNC Tokens that have been distributed. The supply is designed to gradually increase each month starting the month following unlock as investors begin to receive their bonus distributions and advisors, and bounty participants receive allocations that may be vested over time.
• Current holds approximately 187 million $CRNC Tokens in its Treasury.
• All $CRNC token holders, excluding Current’s Team and Treasury, would receive dividends in proportion to their holdings.
• The Company will set aside up to 15% of the revenue generated by Current product lines and issue digital dividend payments to $CRNC token holders in proportion to their respective holdings. Similar to dividend payments made to holders of publicly traded equities, holders of record on a predetermined ex-dividend date will be eligible to receive dividend payments. Current has set up dividend-like payments in this fashion so that the distributions are tied to company performance.
• Digital dividends may be payable in $CRNC, USD, USDC, BTC, ETH, or other cryptocurrencies, or some combination thereof.
• Current plans to provide its first dividend in Q1 2021. Thereafter, each dividend will be issued within 45 calendar days after the end of the previous calendar quarter.
• Current intends to continue dividend payouts indefinitely to $CRNC token holders every quarter but reserves the right to adjust or suspend dividends based on company performance.

It’s been generally approved that a token repurchase program provides for the purchase of $CRNC Tokens, if necessary, from allocated revenues over any given period of time once the token is listed on an ATS-licensed exchange. The token repurchase plan is consistent with previous statements made by Current in connection with creating a token ecosystem with deflationary token economics.

Although the $CRNC Token is not a traditional equity security that may be subject to certain SEC-mandated rules regarding open market purchases by issuers, out of an abundance of caution, the Company has designed its repurchase plan to be consistent, where possible, with a Rule 10b5–1 trading plan, which would allow repurchases under pre-set terms at times when the Company might otherwise be prevented from doing so. The timing and amount of any repurchases under the new repurchase program will be determined at the discretion of the Current’s management based on several factors, including the availability of capital and market conditions for the $CRNC Token. The token repurchase program does not require Current to acquire any specific number of tokens. It may be modified, suspended, extended, or terminated by the Company at any time without prior notice and may be executed through open market purchases, privately negotiated transactions, or otherwise.

Mechanisms That Provide Value to Token Holders

Through a combination of deflationary capabilities and dividends coming directly from up to 15% of revenues, Current can share its rapid growth and success with those that continue to believe in our ability to remain agile, innovative, and deliver results while aiming to build a unicorn. During 2020, we have had many conversations with partners and investors on the potential benefits of a yield farming model to aid in liquidity. Although there’s no preexisting implementation that has been made to work within regulatory frameworks, the tech exists. While not all models, benefits, and features may be utilized in the context of digital securities, we are exploring what is possible with our partners and may soon learn what can be done in a compliant manner. Current will continue to evaluate complementary features and models that both incentivizes liquidity through $CRNC token rewards and increase adoption through our products.

“Current’s mission as a company is to create products that enable income-conscious consumers to earn additional passive income from their everyday habits.”

This mission has led us to a position of strength, predicated on financial unit economics that rival and even surpass much larger subscription-based paid consumer products. On a unit economic basis, we’re far ahead of where we thought we would be at this point. With the momentum we have created we are confidently carrying forward through the upcoming release of our revolutionary smartphone and further into 2021 and beyond. We will continue to focus on building sustainable value, it’s the only formula that works long-term, and while we may see some bumps along the way, as all companies do, we believe this approach will help Current evolve into the juggernaut we know it has the potential to become.

How to Get Involved

• Chat with us on Twitter!
• Add Questions here for an upcoming AMA.
• Have someone in mind that you think is a perfect fit for one of our open positions? Send them a link to our job board. As a reminder, we pay a referral fee for any employee we hire!

If you ever need to reach out to our investor relations, or leadership team, please feel free to email info@current.us, and we assure you that we will respond in a timely fashion. Please keep an eye on our Telegram Announcement channel or Medium for all future updates. If you’d like to ask a question specifically for one of our upcoming AMAs, drop a question in our Google Form that we’ll use for all future AMA’s.

[PLEASE READ] Important legal disclaimer: No money or other consideration is being solicited by this communique, and if sent in response, will not be accepted. Our discussion may contain forward-looking statements that are based on our beliefs and assumptions and on information currently available to management. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “is designed to,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.

These statements involve risks, uncertainties, assumptions, and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we believe that we have a reasonable basis for each such forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. Forward-looking statements include, but are not limited to, statements about: developing and designing the Current network, including the $CRNC token and its future utility; the anticipated development and growth of the Current Network; maintaining and expanding our base of users; our anticipated growth and growth strategies and our ability to effectively manage that growth and effect these strategies; our expectations regarding regulatory developments and their effect on the Current Network, including the ability of applications on our network to develop a user base and a successful business model; and potential future listings on an exchange or ATS. We cannot assure you that the forward-looking statements will prove to be accurate. Furthermore, if the forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. We undertake no obligation to update any forward-looking statements publicly, whether as a result of new information, future events or otherwise, except as required by law.