Bitcoin Forum

FUTR & FUTX are utility derivatives enabled via the Futereum 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/X simulate Ether Derivatives Contracts and allow traders to maximize pricing efficiency of digital assets sales and purchases.

FUTR
FUTR is a long-cycle Ether derivative utility token that is always supported by a minimum amount of Ether stored in the Futereum smart contract. Traders stand to maximise up to 8x the amount of Ether employed in the value mining of FUTR via a swap that happens at the end of the asset’s value mining cycle. There is simply no asset on the Blockchain with the same alpha coefficient trading functionality as FUTR.

FUTX
FUTX is a short-cycle Ether derivative utility token that is always supported by a minimum amount of Ether stored in the Futereum smart contract. With exactly the same algorithm employed in the token’s smart contract as for FUTR, FUTX is for traders and digital asset purchasers who are looking for a digital asset with intra-period Beta maximisation with time-enhanced efficiency.

FUTR is a long-cycle Ether-based derivative utility token whereas FUTX is a short-cycle Ether-based derivative utility token. This means that while FUTR has a long value mining schedule between cycles, FUTX has a short value mining schedule between cycles. Therefore, whereas the price of FUTX will fluctuate greatly in the course of months as the smart contract speeds through a range of different mining levels and cycles, the price of FUTR will rise gradually and steadily over the course of the same period. If you take these two assets into account as trading pairs, this duality results in a significant number of short-term trading possibilities with significantly reduced risk and amplified returns. Further, the possibility of arbitraging and/or short term trading the Ether price is also amplified by the presence of long-cycle and short-cycle Futereum contracts.


FUTX AT A GLANCE

•   A utility token that exists in ERC-20 format on the Ethereum Blockchain with exponential price curve due to “final-level rollover(s)”

•   The world’s second Ether-based futures contract

•   The world’s second derivatives contract to be put on the Blockchain

•   It’s FUTR to the power of x – time-enhanced FUTR

•   An easily mineable token that is minted simply when you send ETH to a smart contract address


WHY FUTX?

1.   For those who already own FUTR, FUTX is a no-brainer – it’s a rapid-cycle, miniaturised version of FUTR that will trade on exchange at Futerex against major crypto currency pairs and on other exchanges  

2.   As for FUTR, FUTX safely stores your ETH in a smart contract address that is inaccessible to anyone but you until the point when it becomes eligible to swap back for Ether

3.   FUTX swaps between 4-12 months (depending when all FUTX is issued) for a share of over 5,000 ETH, giving it permanent loaded value

4.   FUTX is the last pure Ether derivatives contract Futereum will issue


HOW TO GET FUTX

A miner sends ETH to the smart contract address:

0x8b7d07b6ffB9364e97B89cEA8b84F94249bE459F

The value miner will receive back between 2-114 FUTX in return for 1 ETH (or a fraction thereof) depending on the mining level at the point of sending (mining levels get harder as more FUTR are mined). At the end of 3 months, if all levels are mined, FUTX swaps back for ETH. If all levels not yet mined, the swap will happen end of month 12.


MINING FUTX

FUTX undertakes Proof of Value (POV) mining. To mine FUTX, 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.
[/center]



EXCHANGES
FUTX will be openly trading on Futerex, against the following pairs: BTC, BLK, BTG, DOGE , DASH, ETC, OMG, LTC, ART, XMR, PPC.

OFFICIAL LINKS
Official Website: http://futrcoin.com
Telegram Channel: https://t.me/futereum
Twitter: https://twitter.com/futereum
Reddit: https://www.reddit.com/user/futereum/
YouTube: https://www.youtube.com/channel/UCEIb2yzvve2nog_3MQhQtag
News: http://thecurrencyjournal.com/futereum-updates-website-to-futrcoin-com-introduces-futereum-x-futx/618/
Press Release: http://thecurrencyjournal.com/wp-content/uploads/FUTX-PRESENTATION.pdf
Whitepaper: https://futrcoin.com/wp-content/uploads/2018/01/FUTR-WP2_0_cp.pdf
Contract Source Code: https://etherscan.io/token/0x8b7d07b6ffB9364e97B89cEA8b84F94249bE459F#code
FUTX Block Explorer: https://etherscan.io/token/0x8b7d07b6ffB9364e97B89cEA8b84F94249bE459F


SMART CONTRACT FEATURES
•   Name: Futereum X
•   Symbol: FUTX
•   Fibonacci mining algorithm  
•   Total Supply: 67,400 FUTX min.
•   ETH exchange: 5,020.67
•   Cycle Period: 3-12 months

Futereum has been solid and I can see an exchange is in the works. It's got one of the most appealing potential use cases of any token out there, ironically, given that it's a derivative. In fact, all these coins and tokens: ZUR, FUTR and so on seem to me to have wonderful utility all things considered. So happy to give FUTX a shot in the dark, especially with the launch of Futerex Exchange. Good luck with the project(s)!

Thanks. There is an interesting discussion on Proof of Value mining over at the FUTR thread too: https://bitcointalk.org/index.php?topic=2698035.msg29499437#msg29499437

Hmm looks solid, watching this and will mine few coins.

i think its a  proof of scam.its a badly time here

One of the biggest pluses of the token is its usability in short-term cycle / arbitrage trading via Futerex Exchange that goes live on Sunday.

Imagine PPC is $x per ETH. One possibility is to send say, 1 ETH to the fee-miner and then receive FUTR/X. Use the 114 FUTR/X to buy PPC at a fraction of the ETH value; send the PPC to an exchange where it is traded against ETH and cash out at 1.x ETH. There will be numerous possibilities such as this with the range of pairs FUTR/X is traded against.

Your Tweet, if you want to thank the addresses that you will always find on my Twitter page ;) https://twitter.com/Bill_Djons/status/959740089751531520

Keeping tabs on this, it's caught my attention for sure  :)

Could be interesting, following.

It is actually part of a much greater value model which you can read about here: http://thecurrencyjournal.com/creating-profitable-payments-on-the-blockchain-a-breakthrough-innovation/600/

So it's an income-generating model whereby the tokens form an income utility of some kind but without being a security as far as I can tell, right? if that is what it is then that is truly phenomenal! Will have another read over but this looks amazing to be honest ...

To be sincere, this is likely to be a scam, there is no information on the team on their website and they are asking for blind trust, for me to send Etheres for scam coin. On there first post here, it is all about send your ether tokens. There are just looking to capitalise on what is in vogue now, Fortuna did something similar to this and it was a huge success

Tere is ateam but its not clear whey tey are hiding rifht? I know.

Exchange listing and other news latest here: Latest news on exchange listing and development and other news here: http://thecurrencyjournal.com/futereum-domains-returned-to-owners-as-futerex-exchange-gears-up-to-go-live-futereum-tokens-peercoin-zurcoin-to-comprise-base-trading-pairs/639/

http://Futerex.com - Futerex Exchange is now open!  :D ;D ::) ;D :P

SCAM, stay away

https://bitcointalk.org/index.php?topic=2698035.msg29682748#msg29682748

Red flag 1, anonymous team till exposed
Red flag 2, builds own exchange on date of claimed exchange listing for futr
Red flag 3, source contract delivers payment to developer regardless of success or failure of project
Red flag 4, Rollover is heavily taxed at 20%, in the event you do mine late and want to rollover the balance of eth remaining in the contract is taxed 20%
Red flag 5, Currencyjournal where this is advertised is sponsored by developer
Red flag 6, little to no advertisement on more established mediums

This is just my opinion and could easily be wrong. Do with it what ever you feel

Green flag 1, smart contract nullifies necessity of management exposure, but the reason for this initially was as per the previous OP - too much trolling after MC so to get it going it was necessary not to reveal the management. This doesn't mean it's not an awesome product - it is.

Green flag 2, we have been very clear since DAY 1 that the object payment utility justified by its status as blockchain asset for FUTR/X is as a mechanism to seek more opportunistic pricing in pair trades across the ETH spectrum. The only way to fulfill this is to build our own exchange. If you are going to blame us for putting together an entire exchange when we are clearly planning to list on 2 additional exchanges as per WP that seems a bit unfair

Green flag 3, yes, it is called fees. No red flags here - in fact, it is how lawyers, accountants and numerous other professionals are paid. The great thing about the fee structure is it negates necessity for premine which keeps the token balance more distributed than any other token. This is FAIRER. We encourage you to look at this model more closely

Green flag 4, Yes - the "tax" is to prevent excessive premining of follow-on cycles. If you get to have such a supply advantage going into a much easier mining algorithm then why wouldn't you be forced to pay more for it? This is the appropriate incentive.

Green flag 5, Yes - we clearly brandish over the site that it is sponsored via dev and we do not try and hide this fact either. This has been the case since Day 1. This ought to be a BIG positive, surely?

Green flag 6, untrue - we were on ICOalert.com mailshot feature, we are at the top of the list on ICO-list.com and others - Google "Futereum"

In short, we do not know why these are red flags as they all seem to us to be selling points more than anything else? We are not hiding the model, the ideas etc. Sure, it is a new product trying out new ways - this is a positive for crypto in the long run. We encourage you to read the 5 reasons we especially are so positive about the Futereum products published earlier, too: http://thecurrencyjournal.com/5-things-that-make-futereum-the-future-of-crypto/669/

We recognize it is very hard for you to see someone not give up, keep designing new, awesome products for Blockchain, keep improving and delivering, when all you want to see is that person fail and give up. However, you won't have such satisfaction - sorry.

Just because now that your mindless ranting has turned off the entire Telegram you invaded where we were before; just because you and your friends are frustrated that you have not got anywhere AT ALL with your FUD but instead the model is shining through, and more delivery is taking shape by the day and serving people real value, well, that is no reason to keep trolling.

It is a strange thing, FUD. At first it terrify the investor and it work to some extent. But after if the project team keep delivering and power on it just look like the crazy people and everyone abandons the fear. The time to FUD is over. There is no rational to your argument now, just cries of fear which people are quite used to now.So it seem like this will be a waste of your energy.

Therefore we suggest to you that you should really refrain from this sort of behavior of throwing out mindless accusations and unnecessarily damaging other people who you claim to protect by your ignorance. It really doesn't make you look good at all.

If you know something about blockchain history, you will know then that every major blockchain innovation has been through and survived such FUD - there was a point when everyone used to say the same things about Vitalik Buterin, things such as "Vitalik is a scammer who tried to sell me a quantum computer!" etc., "Ethereum is the IMPOSSIBLE Blockchain that cannot exist because Blockchain can ONLY do what Bitcoin Blockchain can do! No blockchain can make tokens are you crazy and delusional and living in some crazy person's world?!"   ::) ::)

If you do not like an idea and an innovation then simple - no one is making you buy any tokens. But you cannot say anything bad about a project that is fully-functional and in smart contract, and which has a fully-operational exchange that is custom-built, along with a fully-fledged value model with multiple interlocking (3) smart contracts that are in development and clearly nearing final delivery stage is in evidence. Have you read the recent papers explaining how the model works? Maybe you should get some facts before you shout in public. This is not the way that civilized people behave. This is not the way that we can achieve great thing; we all hate scam but how can you say project with exchange, multiple WP, multiple smart contract etc. is scam? If scam, then what is real?

It will not make you look good any more to behave as such this way merely as if you are just trolling. It's time to sit back and admit it - you lost with your wrong minded point of view. It is okay. We are all wrong sometimes. You were wrong. The project and innovations are good quality and many many people are enjoying them. Things are in delivery mode now and happy faces are all around. This project and its associated projects will be a remarkable blockchain success. Your legal case also stands no chance of being taken seriously on the hundreds of false facts you have presented. We have all read the case. We can all see the lies in it. It is FUD and we have seen this many times before.

It's OK friend, now my point is that it is time to move on with your life and stop being so angry with the world.   :D (ps - no this is not Daniel. He is too busy right now to tell you himself so I am trying to warn you nicely first time round.)

Futereum is Future of Crypto, and other project is proud to join with it to produce the real products everyone can enjoy.   ;D ;D

I don't know if you can raise money on how you presented this to the community. Unless, every potential investor blindly sends his eth to your address. Even without knowing who's behind it. That's why they are pointing some red flags here. So good luck addressing the fudders here.

well thanks for taking time to reply, appreciate it.

crypto is tricky, the 2 other exchange listings will help alot. It is a red flag when any crypto can only be traded on its own exchange. If their isnt cashflow moving in and out of it consistently i would be concerned. I advise people to only invest as much as the daily "float" of a crypto can withstand you removing before it moves in any direction.

Claiming listing on an exchange then building one out of thin air isnt particularly endearing, nor is it functional or will it be in the short term for trading. Liquidity doesnt happen instantly. Again i will take a wait and see approach on it, a 15% loss on eth which is the risk isnt even strange in this market if things dont work out for your project and its investors

best of luck with this.

It's not FUD.

Just some facts. You can check it yourself if you want.
Look for "daniel harrison monkey capital", you will find what you need.

1 - monkey capital happened to be last summer scam - founder - daniel harrison - investors lost piles of money thanks to him dumping his tokens. Class lawsuit is in the motion. See bitcointalk topics
2 - all tokens sent to his wallet for swap (to erc20 standard) are taken hostage - community were told to BUY HIS ANOTHER TOKEN as insurance to avoid their funds being raided. I'm being serious.
3 - PRE token listed on binance - he DUMPED his own token (he owns supply) on his own community telling them to buy. This totally destroyed all market.
4 - he took over 22BTC loan from his community - and he do not want to give it back - instead he's offering his worthless shitcoins.
5 - during few months he created over 14 different tokens, and destroyed their markets. ALL failed.

Team is non existent.  (FRAUD!!!!)
All publications are made by him. (Deception)
Exchange is some monthly paid crap - given his history he will forget to pay for it, as he did with monkey.com domain.

Theres lots lots more.

avoid.

okay got it. Read few articles regarding that and you have valid points to consider here. So futx might not have future then. Let's see how this goes.

This is so reminiscent of previous crypto FUD though, you must see the parallels? Anyway it is a smart contract, so good luck proving how it scams anyone.

Clearly a real product - lots of endorsements on the Futereum page about this too from Hero, Senior etc members at bitcointalk. ODDIN - not sure of your agenda here but there are rules here about this sort of spam. You seem to be referring to a completely different project so this sort of constitues spam (not really, but almost - bad enough though). 

DEFINITELY take a wait and see approach with this, yes. It is experimental - no one has ever created derivative utility tokens before and as such there are enormous numbers of things we haven't thought of yet that could happen, some for the better and others for the worse. The project that other OPs who are against this project's founder are referring to is a case in point of when things go "wrong". No one was scammed in that example but the same result can happen clearly. For instance, although we are sure the smart contract cannot be interfered with, we don't know whether different types of derivative utilities with higher performance metrics that do not correspond to the exact patent here are made available in the future? We do not know if this is some sort of innovation that may be copied in application form on exchanges and that the tokens are thereby bypassed as a means of innovative derivative utility provision. Many things can happen. We are not trying to become overly-complex, but understand this is a complex product that is part of an even more complex design. This must be front-of-mind.

Now, does FUTR always represent ETH value (-15.3% and +x% after Level 1)? Yes. Because of the re-exchange function buying and holding FUTR is at WORST exactly the same as buying and holding ETH -15.3%. At best it is about 8x better than holding ETH * whatever gains you are factoring in. That is a fact.

Really? FUTEREUM is running on Ethereum Blockchain right? Why you said your token can be mining? I klnow a little bit about POW, POS dPOS. But so far i am still not understand about what POV is. I thought this is like automated ICO with smart contracts. Correct me if i wrong.

Read here: https://themarketmogul.com/cryptocurrency-market-problem/ This is a top UK economic site so quality is vetted, don't worry. This article explains why you don't understand POV.

Yes, it is running on Ethereum blockchain. I don't really understand the details either, but my impression is given the WP etc that I think the whole proof of value thing is meant to be a product enhancement of proof of work blockchains, not a protocol by itself. That goes back to the idea of this derivative utility I suppose. It's actually quite a clever discovery once you get your head around it, though if it doesn't come naturally to you then I sympathise with you. Either way wouldn't spend too long on it as it seems more concurrent with financial markets innovation than core dev of any sort  8)

Think EOS, if you ever mined eos you know that your going to sell it at a few percentage points higher than the trade price. Thats what i was hoping the devs were putting out there and my obsession with listing on exchanges i can sell for fiat. Mine - sell for fiat - buy ether -mine Rinse and repeat. This is what alot of us do with eos and its reasonably profitable.

as for Odinn, the dev has said things went wrong in those projects listed above and well the writing is there to prove it. Community looks out for each other and i expect no less from anyone in crypto. Its up to an individual now to decide if the smart contract is good and the DEV is making the right steps to make the project successful.

youre hopeless daniel.


https://bitcointalk.org/index.php?topic=391806.msg26365281#msg26365281


tldr: bitdigger, futereum, sxc, -------- same person.

jesus christ i now read through the thread in Odinns link.

Thanks odinn, i can see you clearly defend the dev till it was just to damn late. Sorry you got burnt and appreciate you spending your time to try and avoid it happening to others.

I really understand it must be personal after you gave them the benefit of the doubt for things to turn out the way it did.

https://www.thetimes.co.uk/edition/business/daniel-harrison-accused-of-30m-crypto-fraud-cn6b0hgrm

The project took slightly longer than initially expected by around 2 months. It seems a bit overblown.

https://www.cryptopia.co.nz/Exchange/?market=FUTX_BTC
Happy trade guys

Thanks - over 5btc of volume in just the first few hours and a ton of volatility in the price - just what this is made for! It's really interesting to note how traders are playing the ETH-BTC spreads via FUTR in volume. Pretty much what this vehicle was designed for!

It’s slmost as if one person is buying and selling to him/herself in a manner the creator of this project would want

When the swap happens at the end of 3months or 12months, how much ETH is returned per FUTX?
If mining of all levels is completed after 3 months, but before 12 months, do FUTX holders still have to wait until month 12 to swap their FUTX for ETH?
When mining is completed, and the swap can occur, how much time does one have to decide to make the swap or hold?
If mining of all levels is still incomplete at the end of 12months, what happens then?

I read every bit of info about FUTR and FUTX that I could find anywhere. This is a very intriguing idea, but I have so many questions like the ones above. I'll wait for a response on these before asking more.
I would recommend making a video explaining and detailing the mining and swap process in layman's terms, but include all the important numbers.

Thanks in advance.

If all the levels are completely filled and all the tokens swap, then about 0.6 ETH per FUTR. That's unlikely, so just discount accordingly (let's say an estimate of 0.4 ETH per FUTR in the first cycle).

No. They would wait until the end of month 7. The swaps cycles are per every 3 months, with a 1 month waiting period after which the swaps take place. If the levels were filled in month 4, this would count as month 1 of cycle era 2, which would justify a swap at the end of cycle era 2 (that being after month 7 which is 3 months for mining - months 3-6 - plus the 1 month swap waiting period - that being month 7.

As stated, there is a one month period for prices etc to order themselves between the end of the mining and the actual swap dates. The swap dates are open for 5 days.

Then no matter where we are with respect to FUTX mined, the swap is opened up for 5 days, giving you a chance to reclaim the underlying Ether if you want it.

Thank you for actually asking intelligent, well-reasoned, insightful questions. It's refreshing. We are happy to answer these sorts of questions any time.

Funnily enough, our UX guy has banging on about this so he has just started to engage a professional video guy to do this. 

Thank YOU very much for the keen and intelligently focused interest in the product!

Any formula ？ standard for ratio of swap please?

Right now bitgur is showing a price of around $3.50 per FUTR on Cryptopia: https://bitgur.com/coin/FUTX. Factoring out the 15.3% fee and that is effectively $4.03 per FUTX * 114 FUTX (for 40% left of this level) which is $460 per ETH. For every $460 you spend at Cryptopia at the current market price you will receive back $850-ish of ETH assuming ETH doesn't go up and no more mining goes ahead. If there is more mining of the smart contract and we hit level 2 then you are paying in effect $400 or so per ETH, which you get back at the full ETH amount (we are 40% away from that point).

Main point is, buy it off Cryptopia for now as you are paying half price for ETH assuming everything that can go wrong with FUTX foes go wrong and assuming ETH does nada all year . Anything better than that and your returns multiply exponentially per event.

ETH is for sale now on the spot at $380. You must hold it for a minimum of 3 months (best case) and a maximum of 11 months (worst case). What do you do?

Take the poll now!: https://twitter.com/futereum/status/968295612893540353

I really hope my previous post didn't lend any credence to this. Although I DO see value in a futures token system for any crypto supporting the function, I find FUTX / FUTR to be very misleading to anyone thinking about investing.

Anyone exchanging ETH for FUTX or FUTR is up against odds that even underground gambling would find excessive. With the 15.3% fee, then potential 20% fee at deadline, one is very likely to lose 33% of their investment even when exchanging in the first phase.
Anyone exchanging after the first phase face even greater odds.

If you do the math, you'll find that the designer/s of this token based the whole system around taking a 1/3 cut from any deposits. Additionally, they (or he) can play their (his) own system to take more, which is very likely, given that very few ETH have been exchanged for FUTX / FUTR since shortly after it launched.

I haven't inspected the token source code to enough to rule out anything additional hidden within, or that it couldn't be altered at a later date.

Lastly, there could be bugs in the system, a risk that any crypto faces. However this risk is trivial considering all the MASSIVE FEES AND LIABILITIES mentioned above.

There really shouldn't be any need for fees, as it should not require much development and maintenance at all. If there are fees, use them as an incentive for investors, not a way to rip them off.
0.1% fee should be more than adequate to maintain a website.

The math futereum posted showing how one can essentially buy ETH at a hugely discounted rate on Cryptopia, by buying FUTX now, then exchanging later is only true if he follows through on the promise.
Given all the misleading information, unclear information, and questionable past, I would take this promise with a tugboat of salt.

See: https://bitcointalk.org/index.php?topic=2698035.msg31388410#msg31388410

VERY nice movement at Cryptopia (+100%+ over the past 24/H). Seems like some buying happening here in a big way: https://www.cryptopia.co.nz/Exchange/?market=FUTX_BTC

We have applied to CoinMarketCap.com as a result of an inundation of community requests for the digital note to be officially listed and now that we are seeing regular increases over the $100,000 / min vol. trading requirement for such listing to be justified as per CMC rules. We expect there to be a very good chance of the listing going ahead now given the McAfee attention we've received and the higher amount of interest in the product lately, and given that Crex24, where the note is also listed, is now officially a CMC exchange (meaning that FUTX is on 2 CMC participating exchanges, Cryptopia and Crex24). Will continue to update as materially applicable.

Via alt. board

When you purchase FUTX off Cryptopia or off Crex24, both of which FUTX are available on (FUTR is only available on Crex24 for now although that is scheduled to change very shortly), you are buying FUTX from someone who has already value-mined the contract. What this means is that in effect you have 2 purchase options:

Purchase Option 1: You can mine FUTR/X anytime (unless it is in a restricted mining period at the point of a swap-back) by sending ETH to the smart contract

Purchase Option 2: You can purchase FUTR/X off the exchange from someone else who has already mined it (or bought it from someone who has already mined it)

The model employed whereby this "synthetic mining protocol" is constantly an option of purchase concurrently alongside exchange-traded applications is not typical of the traditional Blockchain approach, and the creators are well aware of this fact. Essentially, what Futereum does is to supplant the proof-of-work mining model with its "halvening" events (for instance in Bitcoin mining) with this form os synthetic smart contract mining which the creators call proof-of-value. POV applications essentially replace the requirement for any sort of POS mining protocol ever, since by synthetically paralleling the process of in-wallet mining off the back of proof-of-work applications, they achieve exactly the same thing as a result of the Ethereum Blockchain's token factory innovation. in this sense it is possible to see POV as a natural next step progression to Ethereum's re-invention of the Blockchain from being one whereby the software on the Blockchain was used to produce coins to one where it went to producing tokens. POV currencies that reference actual underlying value are termed "digital notes" by the developers.

Ultimately, you should check to see whether it is cheaper to purchase FUTR/X on an exchange or via the smart contract. For every day other than the first day of issuance, FUTX has pretty much traded ata  discount to the ETH that is stored in its smart contract. That may not always be the case however, and with 100%+ moves in the past 24 hours and similar moves in recent weeks on the back of John McAffee's recommendation of this smart contract, it is entirely possible that premiums may open up for periods in the market (in which case you can just mine the smart contract and sell for an arbitrage fee into the exchange more or less on the spot).

The way to work out what you are paying for the tokens is as follows: take the current FUTX mined per level and use this number to divide the total dollar amount of ETH. Thus, Level 1 FUTX is:

$750/114 = $6.58/FUTX

We can then check this against the BTC value of FUTX by taking the price of BTC/FUTX. At the point of writing the last trade for FUTX was done at 0.00047218 BTC, thus if BTC is currently $9400, the price of FUTX is $4.43 on Cryptopia. Thus, there is a discount available on Cryptopia for FUTX to the tune of almost 50%. Bear in mind that such discounts however contain volume limitations. For instance, the discounted FUTX on offer is only valid for up to 0.29383547 BTC worth; after that point, FUTX becomes more expensive on exchange than it is in smart contract form. Thus, if you wanted to purchase $10,000 of FUTX, you would have to buy 75% or so of it from the smart contract if you wanted the cheapest possible purchase price.

Remember too that there is a 15.3% value mining charge applied to the Futereum contracts. This means that when you switch back FUTX for the ETH, you get 15.3% less ETH than you paid for when you mined FUTX. Thus, in the above example where you were buying $10,000 of FUTX, you would calculate the par value of your purchase as follows:

0.29383547 BTC * Avg. 0.00055 BTC = $5.17 average purchase price with $5.55 swap-back price
$7300 / $750 / ETH = $6.58 average purchase price * 84.7% with $5.55 swap-back price

Hello, Futerium X community!

FUTX trading is now available on ERC20 DEX: http://erc20.exchange. Good trading to all of you!