From the previous article, you know already some things about the Friend Unifying Platform. If you missed it, check the link below to read detailed project description: https://steemit.com/friendup/@annahare/friend-up-the-virtual-cloud-computer-project. If the small reminder is sufficient for you, Friend UP is: a decentralized, cloud built, open source virtual computer based on the blockchain technology.
Always during the project analysis, it is worth to ask some questions about the token usage. Does the project need to have own tokens? Are they indeed the utility tokens? Can the project be fuelled any other way? Sometimes it is obvious that the token producing is just a cover for crowdfunding, and the price from ICO moment will just go down.
FRND (Friend Network Token) is not this case. A multifunctional token of the Friend Platform allows to buy or use templates, applications, data and knowledge. But not only. FRND will be a reward for users who run Friend Server servers, so who shares their processing powers. All usage of FRND token you can check below:
And now is the moment to give you some hard data about the FRND token.
1 ETH= 20 000 FRND what gives a price of 0,029 USD per one token. FRND like many other is based on ERC-20 protocol and it will be issued according to the market needs. The exact token producing and pricing scheme you can find in the Whitepaper: https://friendup.cloud/pdf/friend_whitepaper.pdf
Friend team prepared for us 3 different founding scenarios:
Minimal one (25 000 ETH)
In this case, 65% of collected funds will be spent on team expenses, 5% on Contingency and Complementary. Just 10% for marketing, 10% for contractors, 10% of office and indirect expenses.
Middle (50 000 ETH)
With the middle scenario, marketing grows to the 8%, office and indirect costs to 12%. Team eats just 50% of the tokens. And 5% is taken by the airdrop to contributors who have more the 0,5 ETH in FRND.
Maximal (75 000 ETH) scenario decreases the team costs to 44% and increases the airdrop to 10%.
TEAM
One of the projects about the real estate market I was describing, used the amounts of deals their team members conducted to point out their know-how. A friend uses a similar trick counting years of experience in programming. And indeed the number is pretty impressive, cause team members have spent 130 years on code -writing.
Friend Software Corporation is the company behind the Friend Unifying Platform and the team consists of them. As I already wrote before they are placed in Norway. Detailed registration address you can find on their website:
https://friendup.cloud/
It is a pity, that members biography, besides LinkedIn profiles is not available.
But the project consists not only of the team members. Friend U.P also asked some advisers to grace their ICO.
If you want to read more about the friend project check the links below:
Website:
https://friendup.cloud/
Whitepaper:
https://friendup.cloud/pdf/friend_whitepaper.pdf
Onepager:
https://friendup.cloud/wp-content/uploads/2018/02/friend_onepager.pdf
Social media:
Telegram:
https://t.me/friendupcloud
Facebook:
https://www.facebook.com/friendupcloud/
Twitter:
https://twitter.com/friendupcloud
Disclaimer: this is NOT investment advice. This is purely my opinion, based on facts found on the project website, whitepaper, social media and etc. Please do your own research and decide if it qualifies with your risk profile.
Anna Hare
You can find me here:
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Valuer: RuthNews: http://ruth.news/ru/team
Check my Steemit/RuthNews profile regularly to find more information about the FRIENDUP project.
Next topic: “ FRIENDUP- THE VIRTUAL CLOUD COMPUTER- HYPE, ROADMAP & PROs and CONs”.