Author: Isabelle Yeo
While the market is still immersed in the research and imitation of “transaction and mining”, FCoin has already advanced at lightning speed. They began to tap on unexplored terrains, and innovated another important tool – FCandy- which could “locked position and mine.”
On Jul 19, FCoin announced that it would launch – FCandy – an asset pool that could incorporate all kind of assets.
FCoin will issue additional FCandy through the FCoin platform after the user transfer valuable digital assets (with transaction prices or private placement prices) to the FCandy. All transfers go into the currency of FCandy, neither could it be sold to the secondary market, nor transferred externally.
Under the FCandy issuance rules, only a certain amount of FCandy is issued into the asset pool.
For all the FCI06 component indices, the FCandy issued does not exceed 50% of the total investment value. For all other non-FCI06 component indices, the FCandy issued does not exceed 5% of the total investment value.
Thus, this means that FCandy bundled the cryptocurrency in the asset pool and issued it at a discount, which to some extent reduce the asset bubble.
FCandy has killed ‘three birds with one stone’, and this is how:
Firstly, since July 19, FCoin will take 10% of FCoin’s total revenue (i.e. 50% of platform revenue) every day to repurchase FT from the secondary market and publicly release it to FCandy for a permanent “lock-up”.
Reducing the circulation of FT in the market through repurchase, stabilizing the confidence and price of FT holders, and buffering the sell-off of FT.
Secondly, is to encourage the project to channel its tokens to FCandy, benefiting all platform users.
Another source of assets for FCandy is the active placement of the project side. The reason for the active placement is due to currency mechanism of FCoin’s “FCandy permanent Lock Certificate”.
Under the new mechanism, the project initiator needs to meet two conditions in FCoin:
1) Received at least 2 FCoin-certified from GEM Sponsors and recommendations;
2) Permanently lock some of the tokens to FCandy.
Then, the FCoin GEM will transfer to the FCandy project party token, sorted according to the total accumulated value transferred, and the top five will enter the audit scheduling process. In other words, the project party wants to send its own tokens to FCandy actively.
Thirdly, increase existing user’s retention and attract new users.
According to the announcement, FCandy will adopt two main distribution mechanisms: one way is to take snapshots of the total assets of the registered users of the FCoin community (only the total assets on the main board online), and regularly freely vote for all FCoin community registered users, second way is to reward the recommended users to register.
In other words, all FCoin users can enjoy the benefits of FCandy airdrops, and the more assets there are, the more FCandy they are assigned. In addition, users are encouraged to invite new registrations.
Short-term participation in the FCandy dividend, secondary market transactions need to be cautious
Some people in the currency circle said that FCoin’s main profit point lies in the value of the platform currency FT, and the fundamental motivation for the release of FCandy is to enhance the market performance of FT.
As we all know, FCoin became famous for the business model of “transaction and mining” and quickly gathered a large number of miners and FT holders to realize the rapid circulation of FT.
However, when the incentives like rebates for mining output are reduced, it would result in a weaker stimulus and lost of some users. This will affect the value of FT, and eventually impact FCoin’s overall ecology.
In other words, enough users and circulation are fundamental to maintaining the FT currency.
FCandy brings a warm current to the downturn market. In the short term, it is feasible to share this bonus of Fcoin. However, as the market prospects are unclear, the uncalculated investment in the secondary market will face higher risks.
Photo Credits: FCoin