Dear FintruX Community,
Today we are happy to update you on what we’ve been working on. Our token FTX is scheduled to be listed on exchanges this weekend, and we’re taking this chance to shed light on the exact mechanics on how ‘The FintruX Way — Sharing not Burning’ will work to reward our early supporters.
We have been working with exchanges to enable cross-currency lending for the FintruX network, and provide liquidity for the FTX token.
In our selection of exchanges we have taken into account their reach and the complementary services for the FintruX ecosystem.
With that in mind, we have prioritized partnering with exchanges that satisfy regulatory requirements (to maintain the confidence of our institutional partners) and those who provide easy ways for the general public to access our ecosystem. Some exciting examples include providing fiat pairings for FTX, buying FTX directly with credit cards, providing FTX pairs with many other tokens, and access to niche markets.
The FintruX Team is pleased to share with you that we are working with the following exchanges:
HitBTC — HitBTC was founded in 2013 and has experienced sustainable growth over the past years and houses a substantial amount of demand for FTX on the secondary market that was previously inaccessible during the token sale.
- Status: Trading LIVE
- Pairs: Users will have access to FTX/BTC and FTX/ETH trading pairs upon listing.
Support and prepare to trade FTX on HitBTC using this link.
Trade FTX on HitBTC using these links:
Qryptos — QRYPTOS was founded in June 2017 by QUOINE, the first global cryptocurrency company in the world to be officially licensed by the Japan Financial Services Agency. QRYPTOS is a fully digital cryptocurrency exchange and trading platform, exclusively for cryptocurrency trading in desktop. QUOINE’s subsidiary QUOINEX is a crypto-fiat exchange platform.
*Update as on Sep 2018: Qryptos and Quoinex has been integrated and seamlessly merged into ‘Liquid’
- Status: Deposits LIVE, Trading Starts April 22 , 2018 at 08:00 UTC.
- Pairs: Users will have access to FTX/BTC, FTX/ETH trading pairs upon listing.
Support and prepare to trade FTX on Liquid using this link.
Bancor — The Bancor Protocol allows users to buy and sell any ERC20 token through a direct token conversion settlement, without going through a cryptocurrency exchange. The Bancor wallet is currently offering built-in conversion between 75 cryptocurrencies with many more coming in the future. It also boats a fiat integration that can be used to purchase ETH directly with a credit card.
The in-wallet conversion provides greater stability relative to other exchanges, offering an attractive alternative to users who are not as interested in arbitrage trading. Bancor’s in-wallet conversions are made using smart contracts which give users fast and transparent pricing without the fees and spreads of a traditional exchange. Bancor neither holds nor has access to investor funds.
- Status: Trading FTX on Bancor starts April 24, 2018 at 10:00 UTC.
- Pairs: Bancor users will have access to FTX to ETH/EOS/OMG/BNB/KNC/AION and a long list of over 75 trading pairs upon listing.
Prepare to trade FTX on Bancor using this link.
To access your tokens, please see our guide at https://bit.ly/FTXToken
The FintruX Way - Sharing not Burning
Actual Scenario: The sale ended after reaching 25M USD (~22,105 ETH), with 39,503,157 FTX sold. This means that out of the 75,000,000 FTX crowdsale pool, additional 35,496,843 FTX (+89.9% bonus) will be shared proportionally to token sale contributors.
The additional tokens are scheduled to be distributed in phases until our platform is operational in Q4 2018. In order to ensure that our loyal supporters benefit the most from this mechanism, only those who opt to hold FTX in their whitelisted addresses at pre-defined distribution dates will be eligible to claim their proportional share of FTX reward — supporters who have less FTX than their original contribution will receive a proportion of their bonus.
We will be doing a snapshot one week after our third exchange listing. (Update: Our snapshot is now confirmed to be May 4, 2018 at 17:00 UTC.) The mechanism to claim tokens will be available later on our website. Our first distribution will be 5,925,473.55 tokens, meaning that all original token holders will get +15% bonus if they hold the full amount.
Scenario 1. Hodler — Luna has purchased 7500 FTX during the crowdsale. Luna holds these tokens or accumulates a greater amount until the snapshot, which is when we register that she is a loyal supporter. Within the next week, she will be able to claim 1,125 (+15%) tokens for the first distribution. If she continues to maintain 7500 FTX or higher for future snapshots, she will accumulate a total of ~6742.5 (+89.9%) additional tokens by the time the platform is live in Q4.
Scenario 2. Seller — Sally has purchased 1500 FTX during the crowdsale and has sold 1050 FTX. Sally now holds 450 tokens on its whitelisted wallet and will receive only a proportion of the intended bonus. Since her initial allocation has been decreased (by 70%), the proportional amount to be distributed is decreased (from 15% to 4.5%). Within the next week, she will only be able to claim 67.5 FTX, instead of 225 FTX. However, if she accumulates back to 1500 FTX for future snapshots, she will be able to receive the full bonus again, although she will have missed out on a proportion for the first distribution.
Future snapshots will be announced beforehand so our supporters can ensure their tokens are in the appropriate original whitelisted wallets to benefit the most from the sharing. Tokens that are unclaimed will be used by the platform for the benefit of the community (airdrops to all FTX/partner tokens holders, incentive programs, partnerships, marketing, etc.).
Thank you for your support and commitment.
The FintruX Team
About us: FintruX Network is the global P2P lending ecosystem powered by blockchain and no-code development. FintruX facilitates marketplace lending in a true peer-to-peer network to ease the cash-flow issues of SMEs that typically face challenges getting loan financing, such as startup companies.
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