Breakdown of FMT Whitepaper - FreeMarketToken pt 2/5
FAIR TOKEN DISTRIBUTION
A maximum limit has been set in each round of the token sale; this is done to curtail the effects of big money investors that might lead to a disproportional amount of tokens on the platform. This is in line with the aim of the FMT Token team whose goal is to have everyone on the same wavelength during the during ICO stage. 550,000,000 FMT tokens will be in circulation with the hard cap during the ICO set at 300,000,000 FMT tokens, 25,000,000 FMT tokens will be kept in the reserve and will be made available to new merchants. FMT token will be made available after the ICO also ETH and XEM will be accepted as token offering.
PUBLIC SALE
By April 2018, 250,000,000 FMT tokens (including pre ICO) will be sold through public sale and this sale will be done over two stages. Whitelisted addresses will be accorded special treatment should the ICO sell out, so all participants are advised to whitelist wallet addresses for both Pre ICO and ICO. In order to achieve global dominance, 125,000,000 FMT tokens will be given to participants as bonuses for their ability to influence sales, contribute to the development, refer other users and market the ICO. Should the ICO fail to sell out, an audit will be conducted to know the amount of token supply and the balance will be air dropped to all ICO participants.
PRIVATE SALE
Participants that will contribute to the long term development of the project will be able to buy 50,000,000 tokens. These participants also have a hard cap limit which is in tune with Fair Token Distribution.
RESERVE POOL
In order to create new accounts for merchants, 25,000,000 tokens will be sold at the market price of 1000 FMT tokens per new merchant. Ecryptostore will keep the liquidity of the Reserve Pool token overtime with the continuous purchase of FMT Tokens from the exchanges. The Reserve Poll will eliminate monopoly because every participant will be able to invest the same amount of money by eliminating big money investors from taking over the system by buying out the available token supply.
BUYERS
Buyers can join the Ecryptostore platform, the platform gives buyers the chance to pay for goods and services with cryptocurrencies. A clear invoice that shows the records of every transaction made on the platform is generated by the system. This invoice can be used for tax purposes.
VERIFIED MERCHANT
Sellers can list goods up for sale on the Ecryptostore platform by following the simple instruction stated on the system. Sellers have the option of accepting any cryptocurrency of their choice as payment for goods sold. Buyers will be able to recognize merchants with verified status before making a purchase; the verified merchant will receive an instant payment in their wallet immediately a good is sold. With payments confirmed, the seller can start making arrangements on how to transport and deliver the goods.
NEW MERCHANT
The platform lends new sellers a helping hand by giving them the opportunity to build up their profile in no time as they can take advantage of the Lifetime Gold Merchant promotion. Sellers will be rewarded with the Gold Merchant status if they are able to promote the FMT tokens to a wider audience. This gold status will give new sellers a chance to enjoy unlimited listings and reduced transaction fees. The new seller will be able to reach buyers from all over the world, earn an income without paying any additional cost.
ESTABLISHED ECOMMERCE BUSINESS OWNER
Business owners can create a Power Seller account on Ecryptostore, this account offer seller the following bonuses; transaction prices are slashed in half, free unlimited listings and additional exposure for their products. Here business owners do not have to pay the monthly subscription fees, a purchase of enough FMT tokens will confirm the seller’s Power Seller status thus covering all expenses on every transaction. Business owners that enlist their products on the ecryptostore will be able to attract many customers from different market niche, saving hundreds of dollars every month thus increasing their income.
Disclaimer: I earn FMT tokens to discuss with and educate others about FMT and Ecryptostore, and you can too! Anyone can join from now until August 15th. Let’s get the conversation started about buying and selling goods with crypto! Click here to join. Any quotations above cite the whitepaper directly. This is not financial advice, and you should do your own research before participating in any sort of investment.
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