FundersToken F.A.Q. BACKGROUND INFORMATION: KEY CONCEPTS
● What are Smart Contracts and why are they significant?
Smart contract enabled blockchains, starting with Ethereum, offer the first decentralized software systems in which currencies can be governed by programmable code. This opens the door to diverse customization opportunities previously unimaginable in monetary policy and management.
GENERAL OVERVIEW
● WhatisFundersToken?
FundersToken is a CRM software-based company based in Singapore, with the backbone of tokenization. Our software with blockchain technology offers business augmentation and digitalization. We hope with our product, people in the future do not have to program to be tokenized and wisely use smart contracts for more than a financing process.
Tokenization is a great new business model that is empowered from the features of the blockchain, and the impact and phenomenon that it creates are just massive.
We, FundersToken delivers a model to engage customer to perceive values.When the relationship with customer is not only purchasing, but also partnership, influence and investment, customers join the business ecosystem profoundly.
We define this group of critical customers as FUNDERs. Hence the name FundersToken.
● What is the problem FundersToken is solving?
The blockchain space is still too technical. Only people with the available resources is able to join this space. Thus we have created a software to help businesses to be a part of this revolution with no coding required.Developing a blockchain application is too expensive to start with as we’re having a large scarcity in developers within the blockchain community.
● What is a smart token?And is the token issued from your system an ERC20 Token?
ST is the ERC-20 token based on Ethereum Blockchain. This is issued/generated by the Corporate Token System, with the properties of consumption and vehicle. It is tradable and traceable. It has a pre-determined fixed total amount. Conceptually, this is a business loyal points, rewards and digital assets for CRM and funding purposes. Since we are built on Ethereum and our token follows the ERC-20 Token standard thus the tokens issued from our system is also an ERC-20 Token.
● What are some of the use cases for smart tokens?
There are so many potential use cases for the FundersToken and smart tokens that it is similar to asking what are the use cases of Ethereum. It’s improbable that we could imagine all of them, but there are some of our favorites:
●Business Loyalty Point Programs: Whereas individual businesses struggle to make their custom loyalty programs sticky enough for customers, issuing smart tokens which can also be exchangeable to other tokens in other networks creates tremendous value for customers who can now access many more items. This creates additional stickiness, and strengthens cooperation between businesses.
● Content Creators: Artists can also create smart tokens that serve as the method to purchase their work or attend a show. These smart tokens serve as their own distribution medium (so the artist & buyer don’t pay a commission to any middleman), can be easily exchanged between people, and can be set up such that the price will rise as demand rises.
● Investment Baskets (i.e. decentralized ETFs or Index Funds): Created via the FundersToken by setting the Smart Token'sTM can represent any combination of other tokens or tokenized assets, creating a decentralized, organically-
balanced investment basket owned directly by its holders.
● Who’s behind FundersToken?
Building the FundersToken platform is a challenging task that requires talent and dedication. Our CEO, Jack is a business architect and has helped his clients to headhunt technical teams in the previous venture. Our CTO, Noel is the Ethereum Pioneer in Taiwan and have developed blockchain applications in Taiwan.Our CMO, Darren has managed accounts where he helped business in growth hacking. He’s also invested in Bitcoin back in 2012.
Since discovering Blockchain in 2014, we have been fascinated by the future and the potential of this technology.FundersToken is our solution to opening the floodgate of mainstream adoption.
● Where’s the team based? Have you built other projects in this space?
FundersToken Pte. Ltd is based in Singapore and Taiwan
We have been developing and deploying smart contracts since 2015. The techincal threshold that limits the development of Ethereum smart contract provided the much needed a humanized way to build a blockchain application inspired us to design FundersToken.
ABOUT FundersToken
● How much does it cost to issue your own token?
In order to issue your own token. You must activate our software with 2 of our vouchers.
White Label Voucher which cost 5,000 of our token, FST or approximately 10,000 USD. White Label Voucher is used to activate our software.
QM Voucher is used for issuing 250k tokens and it costs 500 FSTs or approximately 1,000 USD.
Thus the minimum contribution you’d need is around 11,000 USD.
● How does your platform works.
The steps to issue a token in FundersToken’s software and platform is simple.
Sign up at our page and apply to be a Cooperate account.
Purchase our Token, FST and use our token to exchange for our vouchers. White Label Voucher ( 5000 FSTs ) and QM Voucher ( 500 FSTs )
Activate our vouchers - White Label Voucher to activate our software (5,000 of our token, FST or approximately 10,000 USD ) and QM Voucher for issuing 250k tokens ( 500 FSTs or approximately 1,000 USD )
Insert the details about your token - Name, Symbol, Total number of Tokens, Total number of Initial Offering, Price and Applications of your token.
We will have 4 applications for you to choose from, Voucher ( a vehicle for goods and services ) Voting ( a CRM mechanism ) Rewards and Ownership.
Upload a proof of contract ( An agreement that ensures the delivery of goods or services )
Press Submit and you are done. enables smart tokens to be continuously liquid through their smart contract (exchangeable for their reserve currency at an algorithmically calculated price)
● Why are you charging more when customers increase their token total supply?
Though the total number of tokens does not cost us more. However, after issuing we will also provide some smart contracts support on your token.
COMMON QUESTIONS
● What is the name of FundersToken’s token and what does it do.
The Funder Smart Token - FST is as a Blockchain-based virtual currency. FST is the gas that activates our software.We follow the new update of Ethereum, the EIP 86 Account Abstraction. When this policy goes live, we will launch an update of our smart contract that FundersToken would consume gas for all end users and corporate clients. Instead, business clients would consume FST as the gas for themselves and their end users. FST would be comparably easier to get and this would be the profitability of FundersToken revenue.
● Is FundersToken for developers only, or for end-users as well?
FundersToken will launch a user interface that enables anyone, regardless of technical skills, to easily create and manage a fully functional & fully liquid smart token for any purpose.
A desktop/mobile web interface will provide simple on-boarding as well as all the basic functionality needed for using user-generated tokens.
FundersToken allows businesses to issue their own token, and bring their business to the blockchain environment with ease while the entire process takes less than an hour from setting to deploy. The system further develops smart contract setting up with APIs provision. We aim to finish all the blockchain-related tasks and let businesses focus on what they are originally good at. We connect and invite general businesses to the blockchain network via user friendly operation, enable both application owners and individual users to do business with tokens. These tokens can be customized by the application owners and can be designed to according to their venture needs.
People can also purchase tokens within our platform using Fiat or Crypto.
● What is a voucher?
There are two types of crypto-assets within our system, Smart Tokens and Smart Voucher. Vouchers can be exchanged via Tokens. While Token are a vehicle of ownership for smart contract, Voucher is a vehicle for goods, services and concepts. The role of a voucher within the token system is listed below.
(1) Diversification tool
For competitiveness, business can issue diverse Vouchers to increase the value provided by their venture.
(2) Evaluable benchmark
Due to the value of voucher is de ned by the contained goods and services. Funders can evaluate the prices of the Token based on the exchangeability of Voucher.
● HowFundersTokencanbeusedforCRM.
The key for CRM is to build the effective engagement with the right people. Traditionally, it is hard to track them. However, within the FsTK system, you can identify these Funders easily by the amount of the tokens or Specific Vouchers that they hold. Thus, we have included the rewards and voting functions to create a new set of CRM strategy.
(1) Voting (Also Option)
Corporate setup multiple options, send the survey/vote sheet, and wait for their answer to the specific Funders. Corporate is allowed to define that whether the Funders need to consume tokens/specific-Vouchers to express opinion. This is related to “Crowd-Sourcing”, “Data” and “Know-Your-Customers”.
(2) Rewards
Business can send Tokens or Vouchers to different Funders by what they hold via FsTK system. This action is related to “marketing”, “promotion”, “gifting”, “rewarding” or “returning”.
● Why issue tokens with FundersToken ?
FundersToken’s code has been reviewed and approved by several big-named companies such as PwC and Fime. A token released within our software/ framework will not need to go through a technical audit when it plans to go on an exchange.
● Can the tokens be traded on crypto-exchanges?
Yes, as smart tokens are ERC20 compatible, they can be traded anywhere.
● How do you plan on convincing Business owners to adopt to blockchain? And how FundersToken plan to solve the volatility of a crypto asset that businesses tend to avoid.
Tokenisation offers the freedom of trade, which causes the fluctuated inflation that would make the difficulties in customer relationship management. However, this issue is happening nowadays due to the lack of grounding strategy in token itself. If there has the changeable physical meaning more than a number or a single ownership, then the problem can be solved. The Smart Voucher is only available to be obtained by the token consumption, which allows token value to connect to evaluable services or products. For instance, if a business has 1 million tokens with each valued 1 USD, then the market capitalisation is 1 million USD. Service A Voucher of this business costs 100 tokens, which is valued at 100 USD. When token becomes 2 USD of each, the business capitalisation is twice. This means the business is running successfully. The price of service A Voucher should now be updated to 50 tokens only, then the early joined client would earn the value and the new coming client has no problem as the price is still reasonable. This flexibility creates an ecosystem that even a business is growing successfully, the clients are still happy to buy the token for being a funder.
FREQUENT MISCONCEPTIONS
● Isn’t FundersToken centralized? Does FundersToken controls the tokens issued within its platform?
FundersToken is only a tech solution, we are only responsible for the tech.Though issued on our platform, the tokens are still an ERC-20 Token and each issuer retains ownership of their own wallet. FundersToken will not have access to their account.
ETHEREUM AND OTHER BLOCKCHAINS
● Are there any technical limitations for usingEthereum?
Ethereum is quickly becoming a platform for tokens, and the FundersToken expands the functionality of ERC20 tokens through EIP 228, FundersToken’s “Token Changer” improvement proposal. We've found Ethereum to be a solid, comprehensive platform to work with and useful for implementing everything we need to effectively launch the FundersToken . We have encountered some challenges, such as implementing advanced math functions, but nothing we couldn’t work around and that couldn’t easily improve in the future.
Additionally, based on the proven ability of the Ethereum foundation to guide the evolution of the Ethereum blockchain over the past couple years, as opposed to the stagnation of the Bitcoin blockchain with its never ending in-fighting, we believe the future is bright for ETH and are excited about building a comprehensive liquidity solution for the ecosystem, and eventually connecting it to others.
● The world is banning ICOs right now,will this affect FundersToken?
Although FundersToken Pte. Ltd is helping people to do ICO/ITO without any coding required, our actual business behind is to help people to define a set of new CRM strategy.We develop this product to support that your digital business bonuses/loyalty points/rewards/product and service vouchers can be in the form of crypto-assets, and many functionalities of trade, distribution and etc. are secured through smart contracts. We are a tool for digitalization not just a tool to do ICOs.
● Why did you name the project FundersToken?
Customer Perception is the key to business performance and reputation in its community. According to blockchain, trust and currency that we have mentioned, FundersToken delivers a model to engage customer perceive values. When the relationship with customer is not only included purchase, but also partnership, influence and investment, customers join the business ecosystem profoundly. We believe this group of critical customers is called FUNDERs. Thus we named our token FundersToken. As we have designed our system for these Funders to interact with businesses.
● How will the market cap of the FST be measured/increase?
Like any other currency, the market cap is the supply of the token multiplied by its unit price. As more smart tokens are created, using FundersToken as their gas, growing demand will put upward pressure on the unit price of FundersToken. In addition to end-users, those wishing to participate in FundersToken’s network growth and associated value increase may be inclined to own FundersToken thus further increasing demand.
● What’s your advantage against businesses hiring Freelancing developers?
The time and cost needed to hire developers for their project are significantly higher compared to the cost of using our software.