ABOut FARM TOKEN
The FARM tokens (Gold and Silver tokens) are issued by the FARM group. The Objective of the FARM token foundation is to seek and partner with innovative food companies that cater to today’s increasingly informed and engaged consumers.
As our partner companies succeed, the FARM ecosystem would grow creating a demand for the token and subsequent increase in its value while empowering our partner entrepreneurs and transforming their societies.
The FARM Token Community
The FARM token community forum is an integral part of the FARM token ecosystem. It is a private forum open only to FARM token holders that meet certain criteria.
In this forum, the FARM token foundation directors will be looking for members to bring forth investment, partnership ideas; help research other people’s ideas; recommend products for investment; discuss the ideas brought forward by FARM token Foundation research team.
The FARMG token will rely on the performance of FARMS token. The FARMG token will initially belisted at fivetimes the price of FARMS token on the day of listing and its pricing would always be a function of FARMS token and an algorithm would be used for the same. The FARMG tokens donot split but the holders will receive 5 tokens for every FARMG token (no minimum needed) after a split.The FARMS token would be allowed tosplit only after community consensus.
This token split strategy serves the following purposes:
1) Increase in the number of tokens in circulation without dilution of price.
2)Enable more users to own the FARMS and FARMG tokens.
3)Accelerate platform adoption and help achieve a gradual reduction of economic inequality across the globe.
4)Serve as an alternative reserve currency.
Some features of the FARM token that make it stand out from the rest and give you peace of mind.
Flexibility & Easy to Use
The perceived complexity and risk have limited mainstream crypto adoption. We have modeled our token prioritizing simplicity and ease of use to accelerate platform adoption
Low Volatility token
We have spent considerable time studying the volatility affecting crypto prices and have created an asset based stable token to prevent price fluctuations driven by emotions or market volatility.
Other than exchanging tokens at exchanges token holders can also use tokens to directly buy products/services from our partner companies at a discount. Peace of mind.
We at FARM Group do care about the wildlife, environment and its wellbeing. A part of the funds are allocated to create awareness and help the cause for sustainability.
Additional features designed to ensure that the token is built to last!
Portable – ERC 20 token hence all one would need is an ERC 20 compatible wallet.
Fungible – Token can be used to purchase goods and services directly from our partner companies at discounts.
Durable – The token is configured to be a medium-of-exchange as well as a store-of-value.
Valuable – The portfolio provides collateral and the token also doubles as a reserve currency.
Tradable – More partner companies means more venues to liquidate the token – More peace of mind.
70 people already whitelisted – breakdown as follows :
Standard: ERC 20
Quantity: 100,000,000 FARMS
Price: 200 FARMS = 1 ETH
Soft cap: 20,000,000 USD
Quatity: 1,500,000 FARMS
Quantity: 75,000,000 FARMS
Whenever tokens are used to purchase goods from our partners –10% of the tokens used in the transaction would be taken out of circulation (burnt) from the FARM ecosystem. This 10% would also include the gas fee. That means token holders would not be paying any gas fee for transactions done with partner companies and will be able to liquidate FARM tokens outside of exchanges -peace of mind! The token burn is designed to manage the token price as well as the number of tokens in circulation. The 10% gas fee rule would apply to both FARMG and FARMS tokens.
Let us assume that we partnered with a Japanese Whiskey distilling company and a bottle of their distilled whiskey is listed at 100 USD on their website. Discount for buying whiskey with FARM token is 15% (discount varies by product and partner company)Tokens out of circulation (burnt) –10% of transaction Price of 1 FARMS token on that day is equal to 1 USD. The user pays 85 FARMStoken forthe Japanese whiskey and 8.5 FARMS token will be taken out of circulation from the FARM Secosystem.
Use of FARMS funds :
- 7.5% of fundwould be used to incentivize future team members, including FARM tokendevelopment fund managerstosustain the operations of the development organization beyond the first five years.
- 7.5% founding teamand advisors (50% + 50%)(FARM group)-The founding teamcomprises of entrepreneurs and developers who worked in bringing this project to life.
- 70% tokendevelopment fund –The funds would be used by the managers of the FARM token foundationto make targeted capital injections into high potential projects and businessespartnershipsthat would help grow the token ecosystem. This would be performed withcommunityconsensus through the private community forum.
- 5% will be used for promoting sustainability, conservation of nature and endangered wild life-We would like to use this wonderful opportunity to promote sustainability, conservation of nature and wild life. We intend to work with organizations across the globein their missionto prevent endangered wild animals from becoming extinct.
- 10% Research and Developmentto find alternate new methods to grow food sustainably.
TheFARMS Tokendistribution is as follows:
- 8% founding team and early advisors(FARM group). The allocated tokenswill vest over a traditional 4 year vesting schedule with a one year cliff. We believe this should be standard practice for any team that is committed to making their project a long-termsuccess.
- 8% of tokens for advisors and managers of the FARM Token foundationand future team members. Their tokens will also vest over a 4year period with a one year cliff.
- 4% reserved of the tokens for teams that help us with marketing, bug bounty program, strategic partnerships, hackathon prizes and for community development activities.
- 5% contingency reserve.
Q3 2017 Concept complete – initial command formed
Q1 2018 Start preparing to sell tokens
Q3 2018 Public domain
Q4 2018 Pre-sale
Q1 2019 Main sale
Q1 2019 Token troubleshooting
Q2 2019 Community Forum is ready
Founder & Lead strategist
Front End Developer & Advisor
Blockchain Project Manager
Social Media Specialist
More information contact :
Bounty : https://bitcointalk.org/index.php?topic=5044753.0
Author : Upik05
BTT username : upik05
BTT Profile Link: https://bitcointalk.org/index.php?action=profile;u=2205131