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Why 2019 Is The Year of FCoin: An In-Depth Take On The First Community-Based Trading Platform

By onlycryptos | cryptocrazy | 17 May 2019


As a full-time cryptocurrency enthusiast, I have been following several cryptocurrency exchanges. Everytime I discover new gems, I track their progress, and invest my time to research. Then I invest my money.

Through this experience, I have learned to appreciate the way the entire industry has evolved. It is progressing in the right direction. I firmly believe FCoin is one platform that will lead this industry.

Almost 12 months ago, I discovered FCoin — a gem of a cryptocurrency exchange that has been growing rapidly. On May 24th, FCoin will be completing its first year.

And let me tell you:

FCoin is different. The vision is different. It is not a company. And there are no shareholders.

We are the one — we users are the real owners of the platforms. Of course, it is easy to say this and call it a marketing gimmick. In the past, FCoin has received negative media attention for its innovative model.

The reality, however, is FCoin has been silently building under the guidance of Mr. Zhang Jian (the founder of FCoin) and is now turning into a true community-based platform. 

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In other words, we users — the community members — are the core of the company. This is why the FCoin’s token ($FT) has been rising steadily. We grow with the token!

In this post, I will state my personal reason why FCoin is here to stay — and why it is worth your attention, time, and money.

1. FCoin’s Unique Mission: YOU

The USP of the platform is in "caring" about you. No other exchange has a mission like this because it is quite challenging.

The way FCoin achieves this mission is incredibly.

You earn several rights that revolve around finance (money) and governance (to build the platform). In simple words, as it happens in the society, you elect a leader (or a bunch of them), and then there are volunteers, committees, and community partners. 

As far as the financial right goes, you can earn 80% of the revenue every day for holding and locking the FCoin token (FT). The details are on the homepage

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Such an iniative to give community the rights makes FCoin unique. The community, again, begins to care about the platform like they own it. 

2. The Power of The FCoin Token (FT)

FT token empowers the community. Its journey has been incredibly interesting. First, FT was "mined" with the Trans-Fee mining model, in which FTs were created for every trade. 

Then, as more FTs entered the market, the price plummetted. This required the attention of the community, and they decided to end the "mining" model and limit the supply to 5 billion.

All this, again, happened through the community voting.

And now? 

FT has been growing steadily as you can see:

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Holding FT has several advantages:

  • You have the right to vote and decide the future of FCoin
  • You earn daily dividend (80%, out of which 20% is distributed the next day; rest of the dividends are distributed on Jan of every year)
  • You can participate in new mining models ("locking as mining" fetches you FT everyday)
  • You can start your own trading zone and earn 80% of the fee. For example, you can run your own FOne trading zone)
  • You can be a major player in the FCoin ecosystem (like a Community Partner) by holding x number of FT.

All these advantages has reduced the FT supply even more. At the time of writing this article, the major amount of supply (over 90%) has been locked.

Look at the current FT in circulation:


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From close to 4.9 billion supply to 477 million in circulation right now. This reduction of circulation is a major step to achieve newer heights. As FCoin grows, the FT token will be FToken — and it moves away from a platform token to a public token.

In other words, FT won't be limited to FCoin. It would be used in the blockchain industry with several use-cases. Here is a graphic showing the benefits:

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3. Taking A Step Further: Fractal Public Chain

Fractal is FCoin's public chain that everyone is excited about. It solves a problem that no one has been able to solve it yet. It takes into account the token economy and builds a framework for others to use it.

Think about Ethereum. Fractal is like that. Except the focus is entirely on the token economy.

In the future, owners of real-world assets can also map their assets to Fractal’s chain using a standardized declaration mechanism. 

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Recently, an article was published detailing the benefits of the Fractal chain. In short, through Fractal we will have:

  • Asset mapping mechanism.
  • Innovative agreement assets.
  • Innovative sub-assets.
  • On-chain snapshot function.
  • A new fee-allocation mechanism.
  • Multiple security controls of the account.

On May 24th, FCoin will publicly announce further details on this public chain in Hong Kong while celebrating their first year anniversary. Plus, Fractal mainnet will be officially online in June 2019. I am very positive about Fractal as restructuring token economy is incredibly crucial and, because FCoin has experimented and implemented various models on their platform, we know what they are doing.

Their experience is our gain! If you want to learn more about Fractal, check out their  white paper (a bit technical but shows the depth of their understanding):

4. Building More Quality Products

While most of the exchanges are going through hacks, FCoin has stood strong. It is looking one step ahead in this direction. Through FInsur, if your account is stolen (and not hacked), you will be compensated up to $2000. Like any policy, you renew it every year.

The product is called FInsur - an insurance product with a real use-case. 


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Within one year, FCoin has created several unique product. It also launched margin trading, and is continously added new altcoins. Here is the list:

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Plus, this is simple yet incredibly interesting. You can "park" your cryptocurrencies and earn interest. A lot of companies do this. FCoin, however, has integrated it into their platform.

Here are the tokens along with the annualized rate of returns:

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FCoin's sub-brand FCoinJP is another product adopting the Trans-Fee mining model and is continously evolving in the Japanese community. Recently, the leader of FCoinJP was interviewed and revealed the future of the platform is, and will always be, in the hands of the community members. 

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It goes without saying that Fractal public chain is also an important product. Not just for FCoin but also for the industry. Fair to say, from the past observation, FCoin is always building what the users want. 

They focus more on value-addition than mere marketing.

5. Solving Real Problems With New Models

If you have been tracking FCoin from day one, you will see FCoin's strenght is in creating models. Now, it started with "Trans-Fee" mining model, which ended based on the community decision.

Then, after a brief period of contemplation, FCoin is now back with several useful models. The entire idea, to put it simply, is to create a mining model that lasts longer and affects the ecosystem in a positive way.

This is how Sustainable Mining mechanism was born. It has several mining models that solves several untold problems.


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Here are the models with a quick summary:

  • Trading as Mining / Limit-order Mining / Sorting Mining - earn FT by buying / selling / placing orders
  • Lending as Mining - earn FT by borrowing currencies (for margin traders)
  • Financial Mining - earn FT by locking at least 10,000 FT
  • Lockup Mining - earn FT by locking FT
  • Promotion Mining - earn FT by promoting FCoin and voting for users who are promoting FCoin
  • Mining currencies voting on FOne - earn FT by voting (earn for voting for the top 10 out of the top 30)

Currently, based on this mechanism, it will take 57 years to mine all the FTs.

As shown in the diagram below, the mining cycle changes and the returns are reduced. This is a controlled way of mining and a great way to sustain the platform in the long run.

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I strongly suggest you to check out this link as it is visually appealing and reveals all the nitty-gritty details around Sustainable Mining. You can also read this article to understand the mechanism in detail.

Conclusion

In only one year, FCoin has grown leaps and bounds. It has launched several products, created several use-cases for its token, and will be soon launching its public chain.

If that isn't enough, they have created mining models that will sustain over the next couple of years and bring in smiles among the users. With its unique vision, and mission to solve imminent problems, I firmly believe FCoin will have its best year in 2019.

They are not building a company. They are building an ecosystem with community as the real owners. It is a tough task that seems possible through FCoin. The future is truly here!

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onlycryptos
onlycryptos

Love cryptocurrencies and love finding quality projects.


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