Topic: [ANN] [FUTEREUM (FUTR)] [Ethereum Blockchain Derivatives Contract] - page 7. (Read 16414 times)

Proof of Ether (PoE)   no, it's not POXXXX, it's ICO = Proof per ETH, or POP = proof per Pay

wow 13 month , it was a long time dev, maybe I didnt have such a long time, maybe at least I can hold this for several month up ahead , but 13 month is more then a years dev, I hope you were right

Thank you - we are really excited about it as FUTR is essentially an option to purchase an increasingly large share of ETH as time goes on. So even if you don't take advantage of the first exchange of FUTR-ETH but hold after 13 months, you will simply be entitled to exchange in another 13 months for an even larger share of ETH.

Security is automatic by virtue of the smart contract that stores the ETH up until the date when FUTR exchanges back for the ETH. In fact, one of the core features of the product is the security of the smart contract. What is different about this project to others that use the smart contract as a method of storing / escrow crypto is that as a result of two different algorithms the escrow feature acts not just to securely store your ETH but to give you a better return on the ETH by the finalization of the 10 levels. This is explained in great detail in our White Paper.

a very promising project for long-term investment, hopefully the development of this project goes well and in accordance with that expected by developers and investors

The smart contract:

1. Simulates leveraged trading returns for Ethereum without using debt. If ETH goes up 2000% this year, FUTR will rise approximately 25,000%

2. Allows merchants to progressively charge less for goods and services while earning more via employing a FUTR dollar (F$) concept which extracts the amount of FUTR in the current mining round and benchmarks that amount against the per unit value of ETH (e.g. Level 1 ETH is generating 114 FUTR which is a per FUTR dollar value of $9.14; the FUTR dollar is therefore $9.14 right now. When the next level kicks in ETH mines 89 FUTR and thus with ETH at $1042 the FUTR dollar would increase by 28% automatically to $11.07 - even without the ETH price moving. This enables customers to pay with less FUTR but the merchant to earn more in FIAT terms) as long as the merchant keeps prices stable and charges in FUTR

3. Recycles constantly - unlike securitized derivatives contracts once FUTR gets to the end of the 10-Level mining cycle all the FUTR swaps for all the ETH and the process begins anew. In practice of course not all FUTR miners / holders will swap for ETH at the end of the 13 months so it's likely the smart contract will build up with even more ETH the next year. Because of the Fibonacci algo in the contract the miners least likely to swap are the last ones to mine FUTR (unless ETH suffers a dramatic fall in value); this means that the unswapped FUTR will represent a slight increase in supply which will be reflected positively in the market cap but more so it will be disproportionately represented by a larger and faster growing share of ETH which will make all the FUTR swappers even richer next year than they were in this year.

Imagine if a futures contract - a contract to purchase - was a unit of payment. Imagine what it would do to supply-demand economics. That's the core wow factor on this one. In a very broad sense I guess you could call it a money machine. Whether this qualifies as useful or not is down to personal preference, but it certainly isn't "another token". It is likely in fact that the product has never been thought of let alone attempted. I hope this answers your question sufficiently.

Another token, or something useful?

NB - BOUNTY hunters please see the following post: https://bitcointalksearch.org/topic/bounty-futereum-futr-ethereum-blockchain-derivatives-contract-2698502

It's a secure, trustless application and the entire smart contract is online at the BE link. The source code is public and contains extensive annotations. The algorithm and how we devised it and what it does in terms of enhancing returns in ETH is all fully explained right from the concept to the math base in the WP. What other info are you looking for?

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.



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.


MINING FUTR

FUTR undertakes Proof of Ether (PoE) mining. To mine FUTR, copy and paste the following address into your wallet and hit send:


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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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.





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


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



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