Flying Money is developing a Blockchain-based solution for creating and trading digital fiat-backed tokens. Flying Money currency tokens will be traded on major digital exchanges in order to settle trades, transfer funds and diversify cryptocurrency portfolios. The major problem with investing in cryptocurrencies has been their volatility. Flying Money tokens can reduce volatility by anchoring a digital currency to an equivalent bank deposit. The initial Currency Token to be issued will be USD called “USDf” followed by EURf, JPYf, AUDf, GBPf and CADf. All currency tokens will be backed 100% by an equivalent amount of fiat currency held in a bank account. Users willbeabletobuyandsell Flying Money Currency Tokensondigital marketsglobally,or create, or redeem tokens on our payment gateway. Theonly real competitor currentlyoperating inthis token currency marketis Tether.Ithas a market capitalization of approximately US$2.1 billion dollars and turns over in excess of US$1.9 billion dollarsdaily.
How it Works The money received for the Flying Money currency tokens will be deposited in an independent trust and protected for investors. Processes will be audited monthly by one of the world’s largest Accounting firms with the bank statement published to confirm that the tokens in circulation match the fiat deposits backing each currency token. The Flying Money Trust is independent to protect investors. The Flying Money Tokens (FML) issued in the ICO are the transaction tokens used to buy and sell Flying Money Currency Tokens that will be issued after the ICO. The utility of the FML Tokens is that they are used to pay for transactions. Once used they are destroyed and therefore reduce the total number of FML Tokens in circulation. Customers have a choice of paying their transaction fees in Fiat, BTC, ETH or FML. If customers pay their transaction fees in BTC, ETH or Fiat the proceeds are used to buy back an equivalent amount of FML tokens which are then destroyed. The tokens will be bought on the digital exchanges that list FML Tokens. There is a constant demand for FML Tokens and a diminishing supply.
In summary the benefits of FML Tokens are: LIMITED CIRCULATION The ICO will issue a maximum of 65 million tokens. Our Payment Gateway charges transaction fees when customers buy or redeem currency tokens. The transaction fees can be paid in FML, BTC, ETH or Cash. The proceeds from these transaction fees are used to buy back and destroy FML Tokens thereby reducing supply. FML TOKENS HAVE AN INCREASING DEMAND The increasing volume of currency tokens means increasing transaction fees. This translates to increasing demand for FML Tokens to be purchased and destroyed. 90% DISCOUNT WHEN USING FML TOKENS TO PAY TRANSACTION FEES Buying Flying Money Currency Tokens using FML Tokens allows users to enjoy a 90% discount on transaction fees. The FML Tokens used to buy the FML Digital Currency Tokens are sold on market through digital exchanges to back the liquidity of the Flying Money Currency Tokens.