FSN Token Sale Mechanism
FUSION is a public blockchain devoting itself to creating an inclusive cryptofinancial platform by providing cross-chain, cross-organization, and cross-datasource smart contracts.
FUSION, before the main net is launched, is an ERC20 token. The FUSION Foundation hopes that the project will be very distributed in the very beginning, which is why we created many mechanisms to make it happen.
This time, the FUSION Foundation has created a Voluntary Participants Program.
The mechanism of the Voluntary Participants Program
The FSN Token Sales will last 10 days starting from Feb. 1st, 2018 at 12:00 GMT and ending on Feb. 11th, 2018 at 12:00 GMT. The 20,480,000 FSN tokens will be distributed at the rate of 420 FSN per ETH for the first 24 hours and of 400 FSN per ETH for the rest of the period. A maximum of 51,200 ETH will be raised.
Please be aware that the minimum of ETH sent to the smart contract address is 0.1 ETH, which means that an amount of ETH less than 0.1 sent by any participant to the smart contract address will be returned to the original sent address.
The first 24 hours is the "early bird" period. A five percent of FSN bonus will be awarded to purchasers during the period.
In order to be fair and to maximize distribution, every ETH sent to the address of the token sale smart contract will be exchanged to FSN proportionally. The proportion will be decided by the final amount of ETH sent to the address of FSN token sale smart contract by the end of the token sale. This mechanism will enable every FUSION supporter to acquire FSN. They do not need to compete on internet speed or Ethereum gas with others to acquire the FSN tokens.
Let:
P = the proportion for every ETH that is used for exchange
X = the ETH sent in early bird period
Y = the ETH sent after early bird period
If 420X+400Y is less than 20,480,000, every ETH sent in will get 420 FSN for the early bird voluntary participants or 400 FSN for the other voluntary participants. The rest of the FSN that has not been exchanged will be distributed to all the selected participants and the voluntary participants according to their amount of FNS for free.
If 420X+400Y is equal to or more than 20,480,000, the proportion is calculated by the following formula:
P = (420X+400Y)/20480000
The amount of FSN that the early bird voluntary participants will get: 420PX
The amount of ETH will be returned to the early bird voluntary participants is: (1-P)X
The amount of FSN that the other voluntary participants will get: 400PY
The amount of ETH will be returned to the other voluntary participants is: (1-P)Y
An example
If 50000 ETH was raised in the early bird period and 50000 ETH was raised after the Eearly Bird period. P = 49.95122%. Bob sent 100 ETH in the early bird period and Alice sent 100 ETH after the early bird period. In the end, Bob will get 20979.5122 FSN and be returned 50.0488 ETH. Alice will get 19980.4878 and be returned 50.0488 ETH.
Selected questions
What is the amount of FSN distributed and duration of the Voluntary Participants Program?
The voluntary participants sale is 20,480,000 of the total FSN token. More details of token distribution can be found on fusion.org. The voluntary participants’ sale will be started at 20:00 on Feb. 1st Beijing time and ended at 20:00 on Feb. 10th Beijing time.
What is the minimum and maximum of the amount for participants?
The Minimum is 0.1 ETH, and there is no maximum amount for participants.
Why no individual cap, can’t whales come in on the last day and everyone will be diluted?
The Foundation does not set individual cap. For three reasons:
First, the community also need important supporters.
We may reasonably think that those who send in a big amount of ETH (which is the same ETH as everyone else) have more faith on the project. They are also willing to bear more risk. However, in order to protect their asset, they are willing to contribute to the community, which is beneficial to all the community.
Second, those who send in ETH on the last day is, in fact, protecting the early bird participants, since the early bird will have five percent of FSN as the early bird reward.
Last, the cap is useless, since people can generate as many addresses as they want to participate in the Voluntary Participants Program.
About dilution, people can always buy FSN on exchanges right after the Voluntary Participants Program.
If there is no bounty campaign how do you plan on promoting the project?
There is no bounty campaign. But we provide the Community Partner Program and the Early Bird Program to promote the community.
What is the Community Partner Plan?
The FUSION Foundation will continue to improve and upgrade the FUSION blockchain in parallel computing, DSrv implementation, consensus mechanism, etc. The FUSION blockchain aims to be a high- throughput decentralized blockchain. The FUSION Foundation will foster cryptofinance providers’ community, improve the application market ecology, such as the number and quality of smart contracts, types of tokens and the usability of the tools’ interfaces. It will work with centralized organizations and datasources to promote the standardization movement of blockchain so that more and more values can be mapped on FUSION to realize the vision of an inclusive cryptofinance in the era of Internet of Values.
To achieve the above vision, the FUSION Foundation launches the Community Partners Program as the first step to improve the FUSION community ecosystem.
We welcome all individuals or institutions who share the same vision of cryptofinance to register the program. The Community Partners Program registers will have more chances to join the community activities to contribute to the FUSION community. The FUSION Foundation will fund and support selected community partners to build FUSION community ecosystems.
We launched a webpage on fuiosn.org on Jan. 25th to Jan. 28th for the participants to provide their basic information and register as participants of the Community Partners Program.
Those who register their names on Jan. 25th to Jan. 28th will get reasonable percent of exchanged ETH for their participating the Community Partners Program as long as they provide related contributions. The percentage will be decided after the Voluntary Participants sale.
All the information registered should be genuine, will be checked and safely protected by the FUSION Foundation.
What is the Early Bird Program?
The Foundation will widely publish the plan of the Early Bird Program. The Voluntary Participants who send their ETH to our address on the day of Feb. 1st will get five percent of FSN according to the exchanged ETH.
What is the fusion position on KYC and anonymity with respect to participation?
The FUSION will do certain level of KYC under the advice of our legal advisor and use technic methods to fulfill the due processes.