Dear community member:
Today is a historic day for FCoin. We have just released the FCoin Basic Regulations (equivalent to the Basic Law). The community's first referendum has also been successfully completed, and the results of the referendum on behalf of the community members will be fulfilled.
This referendum brought two major changes to FCoin:
1. FT stops additional issuance, the total circulation of FT will no longer increase, and the deflation mode is activated by repurchase. In other words, the FCoin 1.0 era marked by “Trans-Fee Mining” has completed its historical mission (FT issue) and officially ended.
2. FCoin main board A will start a new mechanism: as long as lock a certain number of FTs, the user can enjoy the trans-fee free treatment.
In accordance with the principles of the FCoin Basic Regulations and the results of the initial referendum, we will complete the following work in the near future:
1.Complete and publicize the destruction of the remaining unissued FT.
2.Complete the delivery of all FT warrants and withdraw the FT warrants from the market.
3.In principle, we will complete the resumption of the FT-related trading pair within 24 hours of the end of the referendum and after the completion of the above two tasks. The specific resumption time is subject to the future announcement.
4.As of the end of the referendum, the previous trans-fee refund will remain unchanged (based on the price of the FT related trading pairs before the suspension), and then, all the trans-fee refund will be stopped (including all return plans based on FT issuance).
5.The trans-fee adjustment mechanism of Main Board A shall be subject to the subsequent announcement.
6.In accordance with the principles of the FCoin Basic Regulations, we plan to establish an FCoin mechanism and an announcement cleanup team. The team untied and improved the current FCoin mechanisms and standardized the release of various mechanisms in the future, and made a unified interpretation.
August 14, 2018