The FintruX Way — Sharing not Burning
As the Ether price surges upwards, we understand people might be reluctant to participate in any ongoing Token Sale. At FintruX, we have figured out a unique solution to counter this market volatility and allow our supporters to contribute without having to be concerned about ETH price variations.
After careful consideration, our team has decided to implement ‘Sharing not Burning’ — this means that any remaining FintruX tokens will be distributed to our loyal supporters. The FTX utility tokens are meant to allow for participation and engagement in our ecosystem — and we want them to be distributed far and wide! One way of achieving this is to allow a higher token supply at the same valuation.
Once we reach 25M USD in contributions, we will end our Token Sale early and trigger our FTX sharing mechanism. This means that all original token holders will get an additional allotment of FTX proportional to the ETH contribution they made during our crowdsale.
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.
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 in their wallets than their original contribution will only receive a proportion of their bonus. The remainder will effectively be named “unclaimed tokens”.
New holders and token holders who have extra tokens will be involved in a later airdrop, as any unclaimed tokens will be used by the platform for the benefit of the community (airdrops to all FTX/partner tokens holders, incentive programs, partnerships, marketing, etc.).
But that’s not all — the additional shared tokens will not be included in the original circulating supply of FTX! We expect this to have a very stabilizing effect on the market price of FTX and we are confident that it will add great value to our project.
How will we achieve this?
Shared Token Vesting Period
FTX tokens purchased during our token sale events will be tradeable on exchanges soon after our crowdsale. We want to make sure that our early supporters and crowdsale participants are rewarded for their contributions. In order to stabilize the market price of FTX on exchanges for the brief duration before our platform release, we have decided to introduce a vesting period for undistributed tokens. Per our token sharing strategy, these are the unsold tokens which are leftover after we hit our hardcap of $25 million.
These bonus tokens will be distributed in phases until our platform is operational in Q4 2018.
Our ultimate goal in doing this is to add value to the FTX utility token even before it can actually be used for it’s intended purpose on the FintruX Network platform. While our platform is in development, we are sure that the limited supply of FTX will contribute to a high demand for our token and that it will create a community of supporters who will continue to see the long-term value of our project and the token that powers it.
At FintruX we are serious about helping small businesses and startups get the financing they need to achieve their goals and we are proud to offer our knowledge, expertise, and technology to the crypto community. Thank you for your interest in our project, and see you in our sale!
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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