Mainnet, Coin Distribution, and Bug Bounty Announcement
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Dear FIC community,
Our team has been working hard to launch FIC Mainnet. As we reported earlier, security of the FIC blockchain is the most important aspect both for us as a company and our investors. Thus, it is critical to ensure the security of infrastructure we set in place, particularly focusing on node distribution, wallet application, and the smart contract to distribute coins to our pre-sale investors. We have partnered with a blockchain development and consulting company Blockvis to ensure safe coin distribution via smart contract, and with IT security company 1st Ltd. to analyze the potential vulnerabilities in FIC node infrastructure and ensure the security of the wallet application.
Updates
- Node server distribution and blockchain configuration has been set up and analyzed, and is currently being tested in-house.
- Wallet Application. We are implementing additional features and functionality to open-source Foxlet Wallet (github) to support FIC Network: create an account, claim pre-sale FIC coins, transfer and receive FIC coins. Our first test release will be published July 9 on our website.
- Hardware Wallet Support. We have created application (app and library) and submitted a request to one of the leading hardware wallet providers Ledger to include support for FIC coins. We are in touch with Ledger’s managers to include this application in Ledger’s next product release but it will take some time. Our BIP code is BIP 5248 (github).
- Presale FIC coin distribution. Pre-sale participants will have access to their coins upon the launch of the FIC Mainnet (subject to the chosen lock-ups). The process to receive FIC coins will be quite easy — investors will need to submit their whitelisted ETH address to the Foxlet wallet, and the wallet will prepare a transaction that has to be signed by the investor and sent to our Ethereum smart contract.
Bug Bounty
In order to ensure maximum security level of our infrastructure, we are announcing a bug bounty campaign on the three topics listed above — Node distribution, wallet application, and smart contract for coin distribution.
Rules, rewards, instructions, and materials will be published on the FIC Stories Medium July 9, 2018.
Mainnet Launch
FIC Mainnet launch was initially planned for Q4 2018. However, as the ERC-20 token issuance is now being skipped, the Mainnet is to be launched ahead of initial schedule.
Current expected date of the Mainnet launch is two weeks from the beginning of the bug bounty campaign. The timeline is subject to review based on the findings from the bounty participants.
Many of you have been asking about the crowdsale. We do understand the eagerness to participate in the sale. However, our main focus is on the infrastructure and product development. We are committed to act in the best interests of the coin buyers and build products towards our vision of becoming the infrastructure for the fixed income market.
Thus, we intend to launch a crowdsale after the mainnet launch and closer to our production-level product launch.
We are hiring
See FIC job offers on AngelList:
