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Futereum
Website:
Status:
Archived ICO
Token:
FUTR
Start:
05-10-2017
End:
09-11-2017

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futereum 01 Jan 1970 03:00

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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 CRYPTO

How 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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FAQ


What 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 FUTR

FUTR 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
Tinman - 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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EXCHANGES
FUTR 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 LINKS
Official Website: http://futereum.org
Telegram Channel: https://t.me/futereum
Telegram Group: https://t.me/FutereumCommunity
Twitter: https://twitter.com/futereum
Reddit: https://www.reddit.com/user/futereum/
YouTube: https://www.youtube.com/channel/UCEIb2yzvve2nog_3MQhQtag
Press Release: https://www.pr.com/press-release/740650
News: http://thecurrencyjournal.com/ripple-xrp-futereum-futr-demonstrate-how-real-life-financial-markets-will-impact-crypto-in-2018/369/
Founder Interview: http://thecurrencyjournal.com/head-to-head-with-futereum-foundation-founder-james-hurst-on-the-launch-of-futr-ripples-xrp-decentralization-crypto/408/
Whitepaper: https://futrcoin.com/wp-content/uploads/2018/01/FUTR-WP2_0_cp.pdf
Contract Source Code: https://etherscan.io/address/0xc83355ef25a104938275b46cffd94bf9917d0691#code
FUTR Block Explorer: https://etherscan.io/token/0xc83355ef25a104938275b46cffd94bf9917d0691


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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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Information

Futereum Utility Tokens are a first-of-a-kind marriage between financial engineering and Blockchain engineering, and are the most appropriate response to the recent introduction of these leveraged Blockchain-underlying derivatives contracts introduced to the securities markets for the first time in 2017.

Futereum Tokens are placed into [Block*Token] structures and purchased from a smart contract by Crypto investors. A smart contract issues new tokens on the Ethereum Blockchain and as ETH is submitted to the smart contract when it triggers the issuance of the new tokens. It is the same basic concept employed in Initial Coin Offerings (ICOs) except it is ongoing even after the ICO period and there is no fixed ICO.

In the case of an Futereum Token, Ethereum (ETH) triggers smart contract sending out the Futereum Tokens to the same address which the Ethereum came from, and the smart contract then captures and securely stores the Ethereum tokens for a specified duration. At a date in the future comprising 13-37 months. FUTR is then swapped back by the holder for a commensurate amount of Ethereum percentage-wise as that which the FUTR holder exchanges relative to the total supply of FUTR in circulation.

For example, if there are 6.73 million FUTR in circulation, and the holder exchanges 673,000 FUTR, then given a total of 197,908 ETH stored in the smart contract, the holder will receive back 19,791 ETH in exchange, irrespective of what price ETH was at the point FUTR was mined or what price was paid for the FUTR on exchange.

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