How FriendsFingers works - Create your ICO with no setup costs and zero lines of code required
FriendsFingers is an open-source Decentralized Application (DApp) built on Smart Contracts running on Ethereum Blockchain.
FriendsFingers will help startups and small businesses to start a trustworthy Crowdsale based on Ethereum with no setup costs and zero lines of code required.
Using FriendsFingers, you can easily deploy a Smart Contract that will hold contributor's money until any given date or goal is reached. Depending on the outcome, the funds will either be released to the project owners or safely returned back to the contributors, reducing the risk for donors.
Since the code is open and auditable, all of this is possible without requiring a centralized arbitrator, clearing house or having to trust anyone.
You can even use the token you create to keep track of the distribution of rewards.
You don't need to have any technical skill or to pay nothing in advance.
How it works in details
The crowdsales started on FriendsFingers and the corresponding tokens creation processes are organized around Smart Contracts running on Ethereum Network. All the source code of both Smart Contracts and platform is verified on Etherscan and published on GitHub, where you can read and analyze any line of the code you will use. Our platform itself is a DApp (Decentralized Application) hosted on GitHub pages. We have no servers and no databases, we don’t store any datas in places you can’t see them. All will be public on the Blockchain and open-sourced on GitHub to have a strong and trustworthy crowdsale.
Furthermore, Shaka (HAK), our token, will give holders rights to be active part on platform key decisions like in a Decentralized Autonomous Organization (DAO).
Starting Crowdsale
Users that want to start a crowdsale on FriendsFingers must only fill a form with all informations needed to start it like the project name, the crowdsale goal and target, the crowdsale deadlines, the name of the token to issue, the tokens rate per ETH, the Ethereum wallet address where funds will be collected and some others informations regarding crowdsale official links and Whitepaper.
They can also choose an amount of tokens to be issued for crowdsale creators at the beginning of the crowdsale.
After the crowdsale end no more tokens can be issued.
The unique requirement users must have to start their crowdsale is an Ethereum wallet address with a small ETH balance to pay the Gas fee (Note that Gas fee is not for FriendsFingers but it serves only to pay miners that will include your transaction in the blockchain).
After the creation process creators will receive a public link for their crowdsale so they can share it on their promotion channels.
FriendsFingers does never ask to send money or crypto or to share password or keystore of any digital assets.
Entering the Crowdsale
To enter the crowdsale, investors should go in previous generated page where they will find any informations regarding the project as inserted before.
Participants willing to support crowdsale can do so by sending Ether currency through FriendsFingers platform or by sending Ether to the designated address using their preferred Ethereum wallet. By doing so, they are purchasing crowdsale’s token at the rate creator has chosen before which are sent instantly to their wallet.
Token will be transferable only when the crowdsale is over to avoid to see them on secondary market before than crowdsale end.
Everyone can even verify his transaction and see the received tokens exploring the blockchain (for instance using Etherscan) or through FriendsFingers platform itself.
Closing the Crowdsale
At the end of the crowdsale, creators can choose to restart another round with lower rate per ETH for a max of 5 times, or they can decide to close the crowdsale.
The later rounds will have a goal of 0 (zero) ETH because of we suppose that they reached their goal in the first round and they are only issuing other tokens at a lower rate (they can’t set a rate greater than previous rounds as written in the Smart Contract).
When creators close the crowdsale the token ownership will be transferred to them, so they will have any rights to make actions on it.
When each round of the crowdsale ends, if it reaches the goal, funds will be immediately transferred to the creator designed wallet except a little fee of the raised amount which will go to FriendsFingers wallet. FriendsFingers will also take a percent of each round max token supply to help creators with token distribution. Starting fee is 5% and it should be only decreased in time according to the Smart Contract. Creators can also receive discount on fees as expressed below in Shaka Token description.
If crowdsale doesn’t reach the goal, investors can easily claim their funds back and creators don’t have to pay any fee to FriendsFingers. Creators can’t be able to restart a crowdsale if it ended under the goal.
According to the Smart Contract, if some investors don’t claim their refunds a year after the crowdsale end, these can be transferred to FriendsFingers wallet and used for platform development or for any other purpose decided by a public vote as expressed below in Token description.
Some details about the tokens
Technically the token creators are issuing is a “mintable”, “burnable” ERC20 token and at the end of the crowdsale the finish minting function will be called by the Smart Contract by blocking the total circulating supply. It means that tokens can be created only during the crowdsale and nobody can create an additional amount of tokens after the crowdsale end. This increases the confidence of investors ensuring them that creators can’t be malicious or undervalue token price by generating more tokens than they have declared before.
FriendsFingers ICO
FriendsFingers’ ICO will be the first Crowdsale on our own platform.
We want to use the same code you will use.
If you trust us, your investors will trust you the same way.
We want to give you the better solution to make your crowdfund trustworthy and disruptive.
The Token
FriendsFingers will issue Shaka (HAK), an ERC20 Token that will give holders rights to be active part of the platform like in a Decentralized Autonomous Organization (DAO).
Help us and get free Shaka by entering our bounty program
www.friendsfingers.com/bounty-program
Discover more on our website
www.friendsfingers.com
Read our Whitepaper
www.friendsfingers.com/whitepaper
Join our community
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