Announcement on change of Token Strategy

in fidentiax •  20 days ago

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Singapore, 27 November 2017 - Welcome to the 1st Steemit post by fidentiaX , the World's 1st Marketplace for Tradable Insurance Policies powered by Blockchain Technology.

We would like to thank all our supporters/investors thus far for our Crowd Token Contributions aka ICO since 6th November. Since our announcement to kick-off the project on 15th October, our community has grown exponentially to more than 5500 members (Twitter, Facebook and Telegram).

Our Crowd Token Contributon (CTC) will be ending on 5th December. The team, in consultation with our community and investors have decided to enhance our token distribution strategy:

fidentiaX will be air-dropping all unsold fdX tokens proportionally to our existing investors based on the percentage invested (total tokens held).

Token DistributionCurrent StatusRevised Strategy (New)
Crowd saleAssuming total token sold at 5,000,000 (14.69%)5,000,000 + air-drop of 95,000,000 (76.29%)
Founders25,000,000 (73.46%)25,000,000 (19.23%)
Partners4,000,000 (11.75%)4,000,000 (3.08%)
Bounty50,000 @ 1% of crowd sale (0.15%)1,000,000 @ 1% of crowd sale (0.77%)
Total Supply34,050,000130,000,000

Example of an investor's fdX holdings after the revised token strategy:

Current Status
Investor's current fdX holdings: 5,000 fdX
Percentage of Investor's holdings versus total Token Sold: 5,000/5,000,000 = 0.1%

Enhanced Token Strategy
Investor's revised fdX holdings: 0.1% * 100,000,000 = 100,000 fdX
Percentage of Investor's holdings versus total Crowd Token: 100,000/100,000,000 = 0.1% (unchanged)

The rationale behind the decisions:

  1. The current sale volume versus the hard cap of 100,000,000 fdX tokens.
  2. The proportion of Founders (25,000,000 fdX) and Partners (4,000,000 fdX) will be significantly higher versus the total float if we do not air-drop the unsold tokens.
  3. The effective price per fdX token will be lowered (there will be no change in Investor's proportion of the float) thus making it more attractive for trading on the exchanges.
  4. There will be ample liquidity in the market vis-a-vis the limited supply.

The team sincerely believes that this enhanced token strategy is a fairer approach to our existing investors as well as potential investors considering to join in the token sale.

Please help to spread the word on our CTC aka ICO and join the team to disrupt the multi-billion market.
https://token.fidentiaX.com

fidentiaX Team

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