Despite the fact that pre-ICO will be held on October 12, we decided to make fundamentally important changes in the project.

Burning of tokens

We decided to abandon the dividend system (charging tokens to investors, to return to the market) in favor of burning of tokens.
How the smart contract will work when you pay for the service:

• Every month (the first day) 10% of FNT tokens entered from the users (as a payment for the service) go to the FinTab team.
• The remaining 90% of FNT tokens entering the system as payment for the service will be burned every month (first day).

*Exposure per month is needed to reduce gas costs when transferring tokens.

The reason why we switched to the system of burning of tokens

1. Legal aspect of the system. Using the dividend system, we came under the control of such regulators as the SEC. Burning of tokens allows you to expand the geography of the service.
2. Legal aspect of users. Dividends are treated as a certain income over a period of time. Accordingly, for investors this may become an additional taxation.
3. Technical aspect. Payments should be made to investors who have more than 2500 FNT on their account. But what if these funds were transferred to the stock exchange, to several purses / exchanges? Because of this, there could be problems with accruals or their complete absence.
4. Economic aspect. With a significant number of investors, the cost of transferring tokens could reach very high values.

Investors' interest

Burning of tokens will lead to an increase in the deficit of tokens, especially given the constant growth of users. Thus, we can predict a more rapid growth of the token rate (than in the case of dividends).

Users' Interest

To ensure that the deficit of tokens does not lead to a sharp rise in the cost of the service, we fix the cost of the service in USD:
— "Pro" account — $19/month
— "Manage" account — $95/month

Payment is also accepted only in FNT tokens. With the growth of the FNT rate, the cost of service in tokens will decrease, remaining fixed in USD.
Moreover, with the increase in the cost of the token, you can save a lot on using the service if you buy in advance (on pre-ICO or ICO) FNT tokens.

Issue of tokens

Switching to the system of burning tokens and a fixed price in USD also allowed solving the problem of the future uncontrolled growth of the cost of the service. In this regard, we decided to reduce the number of tokens produced by 5,000,000.

1. Pre-ICO (12 October - 12 November 2017).
   At the Pre-ICO stage, 2 million FNTs will be put on the market.
   Cost of 1 FNT = $ 0.1
   Soft Cap - $ 63,000
   Hard Cap - $ 200,000

2. ICO (December 2017).
   At the ICO stage, 21 million FNTs will be put on the market.
   Cost of 1 FNT = $ 0.4
   Soft Cap - sold 8 million FNT
   Hard Cap - sold 21 (+3 in case of sale of reserve) Million FNT

At the ICO the following system of bonuses will operate:
— In the first 48h + 30% of tokens.
— In the next 5 days + 20% of tokens.
— In the second week + 10% of tokens.
— In the third week + 5% of tokens.
— In the fourth week bonus accruals are not made.
If all tokens are sold out within the first 3 weeks after the start of the ICO, a reserve fund will be used. Otherwise, tokens from the reserve fund will be destroyed. After the fourth week, the sale of tokens ceases. All unsold tokens will be destroyed.

Conclusion

Switching to the system of burning of tokens and fixing the cost of the service in USD:

1. Preserves investment attractiveness (and even increases in the long term).
2. Provides a fixed transparent cost for users, despite the growth of the token rate.
3. Solves the legal issue.
4. Simplifies and makes more reliable technical implementation.