FIC Pre-sale Status Announcement: ETH Raised & Mainnet Update

As previously reported, we have reached our Soft Cap back in March — when we raised 3,500 ETH and moved on from the private sale stage to the pre-sale stage.

Today, to wrap up the Pre-sale, we are thrilled to announce that the total amount of funds raised until 15 May, 2018 is 7,304 ETH. According to the ETH/USD rate, which has been pegged at May 15, the total amount of funds raised in US dollar terms equals $4.8M.

We would like to thank our current contributors and express our gratitude and appreciation to all of our token sale partners for believing in FIC Network and joining the ride to success with us.

We have already begun the process for strategic hires, partnerships, and technical development using the funds to accelerate FIC Network’s growth in the upcoming months and years.

Moreover, FIC Network is currently ahead of schedule in development. We expect to launch the FIC Mainnet in June 2018 and can now skip the previously planned ERC-20 token issuance. Thus, instead of being given placeholders, our investors will receive the platform coins for our native blockchain on FIC Network.

As we skip eFIC and issue FIC, we have updated the coin price and the total coin supply accordingly. The FIC coin price will amount to USD 0.0002 (calculated based on the eFIC/FIC ratio of 1/500), so the total coins for sale will amount to 150,000,000,000.

Key facts of the FIC coin

We currently have two external companies performing security audits on the Mainnet configuration, doing attack vector analysis, and reviewing wallet source code before we release it to the public. Ensuring the integrity of the process, we will provide both companies ample time to review the source code during late May and early June.

Public sale will start closer to the Mainnet launch and will continue until the date to be announced, or until the Hard cap is reached.

FIC coins, including wave bonuses, will be distributed to wallets once the mainnet is launched. The updated procedure to send the native FIC coins to your wallet is as follows:

Step 1: Whitelist your Ethereum address during the token sale (pre-sale or crowdsale).

Step 2: FIC Network will publish the Ethereum smart contract address.

Step 3: When the Mainnet goes live you can download the FIC wallet and create your FIC Network address.

Step 4: Investor sends their FIC Network address to the FIC Network smart contract from the whitelisted Ethereum address.

Step 5: FIC Network will then send the FIC coins to the investor’s FIC Network address.

If you haven’t joined the FIC token sale yet — don’t miss out! Head over to ficnetwork.com and register for the Public sale whitelist. It’s a fast and secure process, thanks to our identification/KYC partner Civic Technologies.

—

FIC Network was born out of Factury Inc., a startup founded by Arturs Ivanovs and backed by prominent fintech VCs such as Boost VC, Startupbootcamp Fintech NYC, Bialla Venture Partners and others. FIC Network is a blockchain platform that allows issuance and investments in fixed income assets using cryptocurrencies.