FUTEREUM (FUTR)
The World’s First Smart Contract Enabled Utility Derivative
FUTR is a utility derivative enabled via the Futureum Smart Contract and powered by the Ethereum Virtual Machine. By employing a Fibonacci algorithm in the process of undertaking a reverse-mining of Ether (ETH), FUTR simulate Ether Derivatives Contracts while giving holders whitelisted access to similar future product releases. Created by a former Ethereum developer in combination with leading financial engineers, FUTR offer miners not only core Blockchain utility but Ether-based derivative utility functions.
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THE FUTR OF CRYPTOHow FUTR Harnesses Three Types of Blockchain Payment Utility
FUTR employs a Fibonacci algorithm in the Ether-based mining of its smart contract, and then after a fixed period it applies an alternate linear algorithm in undertaking the exchange of FUTR tokens back for the Ether that was used to mine the contract:
CORE UTILITY: Utility that pertains to the token’s core functionality. FUTR core functionality is as a proof-of-membership stake in The Futureum Foundation project which enables white-listing for priority payment utility to future projects.
EXCHANGE UTILITY: The exchange of Crypto with other Crypto in the form of trading is the first form of utility to blurs the line between payment mechanism and payment receipt. FUTR harnesses this utility to execute two exchanges on alternate algorithms.
DERIVATIVE UTILITY – After ETH mines FUTR, a smart contract holds the ETH safely for a fixed period and then switches it back for FUTR on a different algorithm to the one that mined it, creating leveraged-simulated returns.
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FAQWhat is a Futereum Utility Token (FUTR)?Futereum (FUTR) is a revolution in payment utility economics. It is a smart contract on the Ethereuem network which allows anyone to harness returns for ETH similar to those created via a financial futures contract on any global financial market (25,000%+). At the same time, FUTR is a unique payment utility that works like a call option on the payment currency itself. In this way, merchants are able to charge their customers progressively less over time while making much more in treturn for the same goods and services.
How does FUTR achieve these things?Primarily by employing a Fibonacci algorithm in combination with the Ethereum Blockchain’s smart contract functionality, when combined with price fluctuations in the underlying mining currency Ether, FUTR harnesses net present value at all times better than any other currency on the Blockchain.
How does FUTR achieve these things?Primarily by employing a Fibonacci algorithm in combination with the Ethereum Blockchain’s smart contract functionality, when combined with price fluctuations in the underlying mining currency Ether, FUTR harnesses net present value at all times better than any other currency on the Blockchain.
Who can mine FUTR?Anyone can use ETH to mine increasing difficulty levels of FUTRs over a 12-36 month time frame, in much the same way as original Proof-of-work miners use electricity costs to mine POW Crypto. After the predetermined period, FUTR holders are eligible to swap FUTR for a commensurate amount of ETH that is held by the smart contract.
How Does FUTR payment utility work?By harnessing derivative utility, whereby mining becomes more or less expensive to do partly as a result of the ETH price and partly as a result of the mining level, FUTR offers merchants and service providers a way to charge less to their customers even as they potentially receive more in return. We expect that the merchant accepting FUTR should record a sharp rise in revenue at the start of every mining level as customers seek to take advantage of paying in less FUTR for the product(s) or service(s) concerned even as those same customers are getting a relative discount on the pricing.
During the period it is stored how safe is my ETH?The ETH is held in a secure smart contract and is not accessible by any one other than the FUTR token holder on the date of the swap as advertised on our website. No one can access, handle, move or otherwise interfere with your ETH at any time - not even the project founders and core developers. The ether is held by the smart contract itself. The contract allows the fees to disbursed and there is absolutely no access to the ether otherwise. There is no self destruct capability, either. The ether can only be retrieved at the appointed time by sending in the FUTR tokens to the contract. You receive your FUTR immediately upon mining it with ether. We are not doing anything with these funds because we cannot access them. We also don't have any FUTR unless we mine it because there is no premine, so no dumping.
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MINING FUTRFUTR undertakes Proof of Ether (PoE) mining. To mine FUTR, copy and paste the following address into your wallet and hit send:
0xc83355eF25A104938275B46cffD94bF9917D0691
Do not use an exchange wallet!
Make sure your gas limit is at least 60,000. The transaction requires more gas as it sends the tokens will be sent immediately to you in the same transaction.
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Mining is according to the following schedule:
LEVEL 1 / 114 FUTR/ETH / 1m FUTR
LEVEL 2 / 89 FUTR/ETH / 900k FUTR
LEVEL 3 / 55 FUTR/ETH / 800k FUTR
LEVEL 4 / 34 FUTR/ETH / 700k FUTR
LEVEL 5 / 21 FUTR/ETH / 600k FUTR
LEVEL 6 / 13 FUTR/ETH / 500k FUTR
LEVEL 7 / 8 FUTR/ETH / 400k FUTR
LEVEL 8 / 5 FUTR/ETH / 300k FUTR
LEVEL 9 / 3 FUTR/ETH / 200k FUTR
LEVEL 10 / 2 FUTR/ETH / 100k FUTR
If all levels are completed by GMT: Saturday, January 5, 2019 9:12:07 PM then all FUTR will be eligible to swap back with the ETH held in the smart contract on GMT: Saturday, February 9, 2019 9:12:07 PM. If any levels remain unmined after the completion date then the swap date will be moved back by 24 months.
What does this mean? The following are price guides for all levels of mining (note that prices fluctuate with the prices of ETH. The following are assessed at $1250 / ETH):
Jan L1 $10.96
Jan L2 $14.04
Feb L3 $22.73
Feb L4 $36.76
Mar L5 $59.52
Apr L6 $96.15
May L7 $156.25
June L8 $250.00
July L9 $416.67
July L10 $625.00
In the example above using only today's pricing there is a clear 5600% rise in the price of FUTR between Jan-Jul as forecast by the above table. In this example, FUTR rises from $9.12 (today's price) to $520 even as the underlying price of ETH stays the same! Therefore, we will only say this ONCE: DO NOT UNDERESTIMATE THE OPPORTUNITY TODAY TO MINE FUTR.
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FUTEREUM FOUNDATION TEAM
James Hurst - Founder
Tufty Roberts - Business Development & Marketing
Tehol - Developer
Emily Bianchi – Developer
Sophia Chilton - Developer
Pal - Web Developer
Amanda Jenkins - Public Relations Manager
Calvin Waters – Publisher & Editor
The Foundation Team is not the same thing as the management team of the project. The Foundation Team is solely responsible for undertaking the core development. The present founder James Hurst is in the process of integrating The Futereum Foundation with a major Blockchain and fintech parent company, under which a private subsidiary will be established. This subsidiary for-profit company will become the beneficiary of 25% of all the project revenues. TheFoundation will receive tradeable securities in return for forfeiting such revenue. The company’s management team will mostly consist of a newly-appointed board, however, the core developers and foundation team will remain in place directing the project accordingly from the standpoint of overseeing the not-for-profit foundation. This set-up is in the opinions of the foundation members the most robust structure for ensuring project health.
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EXCHANGESFUTR will be trading on 1 exchange from 2/2/18 and on an additional 2 exchanges by no later than 31/12/18
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OFFICIAL LINKSOfficial Website:
http://futereum.org [nofollow] Telegram Channel:
https://t.me/futereum [nofollow]Telegram Group:
https://t.me/FutereumCommunity [nofollow]Twitter:
https://twitter.com/futereum [nofollow]Reddit:
https://www.reddit.com/user/futereum/ [nofollow]Press Release:
https://www.pr.com/press-release/740650 [nofollow]News:
https://thecurrencyjournal.com [nofollow]Founder Interview:
http://thecurrencyjournal.com/head-to-head-with-futereum-foundation-founder-james-hurst-on-the-launch-of-futr-ripples-xrp-decentralization-crypto/408/ [nofollow]White Paper:
https://futereum.org/wp-content/uploads/2018/01/FUTR-WP2_0_cp.pdf [nofollow]Contract Source Code:
https://etherscan.io/address/0xc83355ef25a104938275b46cffd94bf9917d0691#code [nofollow]FUTR Block Explorer:
https://etherscan.io/token/0xc83355ef25a104938275b46cffd94bf9917d0691 [nofollow]*
SMART CONTRACT FEATURES• Name: Futereum Utility Token for Ether
• Symbol: FUTR
• Fibonacci mining algorithm
• Total Supply: 6,730,000 min.
• ETH exchange: 425,056 min.
• Mining Period: No min. period - 36 months
• Deadline for tiers filled: GMT: Saturday, January 5, 2019 9:12:07 PM
• Swap start: GMT: Monday, February 4, 2019 9:12:07 PM
• Swap end: GMT: Saturday, February 9, 2019 9:12:07 PM
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Topic: [ANN] [FUTEREUM (FUTR)] [Ethereum Blockchain Derivatives Contract] (Read 1881 times)