FIC Network Token Sale Mechanics

FIC Network
Jan 9, 2018 · 3 min read

FIC Network is a blockchain-based, end-to-end, decentralised fixed income assets network that will enable the listing, exchange, securitization, and redemption of fixed income financial instruments. FIC Network is an asset-agnostic, multi-currency distributed ledger with rules and applications specific to the fixed income industry. The technology is scalable to the global fixed income and debt markets, which exceed US$230 trillion.

Hard Cap: USD $16 million
Soft Cap: 3,500 ETH
FIC price: USD $0.10
FIC amount: 316,500,000
Accepted currencies: ETH

FIC Network token sale is structured in three waves — private sale, pre-sale, and public sale. Each wave has a bonus amount that the buyer will get in addition to the FIC tokens bought. In addition to wave bonuses, we also offer token lock-up bonuses during private sale and pre-sale.

Private sale is currently ongoing and will conclude once 3,500 ETH is reached. During the private sale, bonus is 60% and the minimum investment amount is 10 ETH.

Pre-sale will start immediately after the private sale and will conclude on May 7. During the pre-sale, bonus is 30% and the minimum investment amount is 10 ETH. If hard cap is reached during the pre-sale, then the public sale will be cancelled.

Public sale starts on May 7 and will conclude on May 15 or until hard cap is reached. During the public sale, there is no bonus and no minimum investment amount. Participants will be able to sign up for whitelist starting March 19.

FIC Network Token Sale Mechanics bonus chart

FIC Network will be based on a proprietary blockchain. Before we launch the production-level chain, we will issue a preliminary ERC20 token on the Ethereum blockchain, called eFIC. Investors will be able to convert eFIC tokens to FIC tokens after we launch the production-level FIC blockchain later in 2018. eFIC tokens, once converted to FIC, will be destroyed.

  • eFIC token — preliminary token on the Ethereum blockchain will be convertible to FIC tokens.
  • FIC token — the native crypto currency of the production-level FIC blockchain.

eFIC amount

316,500,000 eFIC tokens for sale

  • 160,000,000 tokens — eFIC tokens to be sold
  • 156,500,000 tokens — reserved eFIC tokens for bonuses

At the end of the sale, all unsold eFIC tokens and unclaimed bonuses will be burned. What remains will be matched on a 1-for-1 basis so that the final distribution is as follows:

  • 50% — ICO participants
  • 30% — Reserves (vesting over 3 years)
  • 20% — Team & Early contributors (vesting over 3 years)

When production blockchain is launched, the eFIC tokens will be convertible to FIC tokens at a rate determined by simple formula: Total number of existing FIC tokens divided by total number of existing eFIC tokens.

We follow strict compliance procedures. Therefore, to buy tokens, every buyer has to pass the KYC processes before signing a purchase agreement and being able to transfer funds to our wallets.

Token Distribution

eFIC tokens, including token wave bonuses, will be distributed to wallets once the public sale is completed. However, for user convenience, we will show the preliminary balances of eFIC tokens in your ERC20 target wallet. The lock-up bonus tokens will show up in buyers’ wallets either 90 or 180 days following completion of the public sale, depending on each buyer’s choice.

Learn more and join the sale!

FIC Stories

Follow us for FIC Network news, product and industry updates, and to learn more about the future - as we build the largest financial market for the crypto economy.

FIC Network

Written by

Bonds, refined. FIC is a blockchain-powered web platform that simplifies and streamlines the entire corporate bond lifecycle. | https://ficnetwork.com

FIC Stories

Follow us for FIC Network news, product and industry updates, and to learn more about the future - as we build the largest financial market for the crypto economy.

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade