Fluzcoin, the only flexible stable coin backed by its own Principles for Proof of Trust and implemented through the world class governance of the Eunomia Foundation.
First Principle: Proof of Reserve/Proof of Account
Upon the official close of the the ICO we shall immediately publish the name of the financial institution where the reserve funds are being deposited. We shall give Proof of the Account, by providing formal confirmation from the reputable institution or institutions where we will have the reserve funds deposited.
Second Principle: Proof of Audit
As soon as we transfer funds to the reserve account, we shall have the account audited by a highly respected globally known audit firm, and make this report publicly available.
Third Principle: Proof of Transparency
We shall report in real time the asset allocation of the reserves based on
a) type of currency (i.e. USD, EUR, YEN, CHF, FLZ) and
b) type of financial asset (i.e. US Treasuries, German Bunds, British Gilts, Samurai Bonds and any other highly liquid exchange traded security). We will provide quarterly reports detailing the market performance of the investments.
We will provide an annual report for all our Fluzcoin constituents that will include a letter from the President of the Eunomia Foundation Committee, Key Performance Indicators of the effectiveness of the Eunomia AI and the Fluzcoin Economics (see Proof of Fluzcoin Economics). The report will also include an assessment of Eunomia´s effectiveness, dated interventions, and level of progress as the embedded machine language evolves towards providing optimal “flexible” stability of the coin. Furthermore, we will also report the precise amount of tokens burnt and those “injected” into the system per Eunomia interventions.
Fourth Principle: Proof of Fluzcoin Economics
We shall disclose daily/weekly/monthly statistical use of the coin by consumers and retailers, margins achieved through the zero cost throughput of the Quorum platform, and transaction speeds. Also, charts and/or stats on the velocity of the coin, market cap, and amount of retailers using it, transactions per retailer, segmentation of industries, total transactions through X period in time and any other Fluzcoin related economic indicators as voted by our constituents. This in order to achieve the most transparency in showcasing how Fluzcoin is becoming a commonly used coin and how its trust strengthens and accelerates its global adoption.
Fifth Principle: Proof of Governance
We shall disclose the Eunomia Foundation’s views on effectiveness of Eunomia, discussions where we don’t see fit the proper use of Fluzcoin, decisions that could have an economic impact on the use of the currency, views on decisions made by the Fluzcoin corporations, our approvals or disapprovals, changes in the allocations of the Reserves, and a comprehensive explanation as to why. We could further disclose a dashboard that would rank our performance as an overseeing Foundation that would be appraised by the Fluzcoin community. This dashboard could help in signaling things the Foundation might be doing right and might be doing wrong giving us a heads up to fix things per the community guidance regarding our governance.
In case you want to find more information about Fluzcoin.io, explore our Whitepaper or join our Telegram Group to collaborate with team members and Fluzcoin community. Follow us on other social medias as well:
