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

6.73m is the maximum for this cycle. The present supply (the "real total supply" I assume which you refer to?) you can find on the Block Explorer: https://etherscan.io/token/0xc83355ef25a104938275b46cffd94bf9917d0691

Here: http://thecurrencyjournal.com/futereum-website-down-please-read/574/

Some of our friends on this ANN no doubt! Charming people ...

We understand that you are "sure" but then ask that you refer to the previous response given about being "sure" or "feeling" something is  the case despite everything indicating the contrary is so: just do not play FUTR. It's fine. It was not designed with customers like yourself in mind.

We understand that you are "sure" but then ask that you refer to the previous response given about being "sure" or "feeling" something is  the case despite everything indicating the contrary is so: just do not play FUTR. It's fine. It was not designed with customers like yourself in mind.

Now you are done, it's a smart contract. No one needs to "be careful". That is what the point of a SMART CONTRACT is for! It is an extension of Satoshi's original idea whereby a technology would provide a trustless interface for financial transactionability.

Also, no "guy" collected the 100 ETH++ (good going on that one by the way!) The SMART CONTRACT is the collector of the ETH but let us help you by breaking it down:

When you purchase FUTR by sending ETH to the smart contract, this ETH that you sent is stored INSIDE the smart contract until the date and time of the swap-back (which in addition is voluntary, not mandatory). The FEES from the ETH are held in a wallet wherein another smart contract exists as the executor of an alternate product that will become available in the near future. (About 50% of the fees are used for core development purposes and about 50% of the fees are employed in alternate product utility. This is ALL OUTLINED IN FULL IN THE TOKEN'S WHITE PAPER!)

There is no need to "be careful" if you understand the source code of the contract. If you do not understand the smart contract source code, or if you "feel" that "some guy" may be collecting this ETH that is stored in the smart contract - despite the technological capability of the Ethereum Virtual Machine and what you know about it already - then, okay, admittedly if this is the case you should probably not play Futereum or any ERC-20 token as you will probably not be able to value the token correctly. Note that by making such a claim you are not challenging the Futereum project scope, you are challenging the Ethereum project scope, so you ought to be prepared to be able to argue very concisely with Vitalik Buetrin; if this is the case then we suggest you send an e mail to the Ethereum Foundation: https://ethereum.org/ as we are quite sure they will be interested in knowing about such a potential flaw in what is the core USP of their product spec!

Also very interesting chart here: https://twitter.com/futereum/status/956436758949974016

More nice press for FUTR: https://www.legalgamblingandthelaw.com/news/futereum-to-answer-skeptics-questioning-inherent-value-in-cryptos/

"The common complaint which we can hear from crypto currency skeptics is that crypto currencies do not carry any inherent value. The developers of Futereum (FUTR) have formulated a strategy to create a minimum instant value in their offered coin. The Futereum smart contract enables its native token, known as FUTR, a utility derivative. The smart contract is powered by the Ethereum network. By employing a Fibonacci algorithm in the process of undertaking a reverse-mining of Ether (ETH), FUTR simulate Ether Derivatives Contracts while giving miners whitelisted early access to similar future product releases ...

... 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 return for the same goods and services.

The developers claim that it is the world’s first value enhancement of the block chain."

Sorry, it seems you may be mistaking the project for another. We heard that there were a lot of this people in Telegram today too. Plewase we ask you respectfully to keep discussion calm and measured in the Futereum Telegram. We do not monitor or administer the rooms for Futereum as we want to create decentralised ecosystem first of all, but this means we must be respectful and not loud and pushy with out points. Thank you for understanding and we hope you look more closely at our project and like it )

Futereum back in the news today credited here with heralding in the era of the Reverse-back Crypto offering: https://www.cryptoninjas.net/2018/01/23/futereum-foundation-coins-term-reverse-back-cryptos-rbc/

Encouraging to see Futereum innovations getting such widespread acknowledgement so soon in the game!

Sorry, yes - it is a shitty description and you are right, it does smell like bullshit. It was likely one too many late nights that failed to catch that copy edit. What we meant was this - when FUTR is exchanged back for ETH, it is done on a %-per-% basis (that is the "reverse mining" bit), whereas when it is initially purchased with ETH, it is done according to that Fib. equation that runs down the FUTR/ETH column.

Here is a more technical video explaining how Futereum's tri-part core/exchange/derivative utility functions work: https://youtu.be/1G4YAFfCaPk

We have nearly collectively mined 10,000 FUTR just over one week in

Great start!

Read the whole website through (https://futereum.org) and this pamphlet through (https://futereum.org/wp-content/uploads/2018/01/FUTR-Jan18.pdf) and you should be getting FUTR delivered into your wallet no problem in pretty much no time at all!

Honestly, if you want the truth, because of the people like you who are in Crypto. You play in a world of Decentralisation based on someone's right to privacy and equalised basis of communal respect founded on the idea of the system / thing only, and all you want to know about are personalities? That's a dangerous person. In fact it's the type of "I wanna have my cake and eat it" mentality that Edward Snowden was uncovering in the national homeland security chiefs. These are the minds of politicians - and there seems to be so many of them in Crypto nowadays that it feels just plain unsafe for people who are not political by nature. Understand this is not a personal criticism of you. It is an answer to your question directly and truthfully. Hope you take it in that spirit for some of us in the world money is only a tool and power is privacy not publicity ) sorry if it sounds strange to you

If you want catch up with the latest news about Futereum this week all in one short post: https://medium.com/@futereum/futereum-in-the-news-with-launch-of-ether-eth-derivative-futr-84556ee097a2

Perhaps one of FUTR's most interesting utilities is as a pairing currency to trade against NEO, XRP etc.: https://www.reddit.com/r/Futereum/comments/7rggyg/the_power_of_futr_as_a_trading_pair_illustrated/

Quite simply it allows you to go long/short and to leverage and protect downside as a result of the dual algo!

In that event, the swap is opened up anyway at the end of month 37. No matter what, you get to exchange your FUTR back for ETH. That's the deal.

In this sense, it is possible to see FUTR from a very interesting risk standpoint: on the one hand, you get a new (diversified) token holding in Ether, while on the other hand, you get Ether minus fees, which means your MAXIMUM downside ALL BEING EVEN otherwise with no Ether price movement at all in 3 years is ... 15%. Your maximum upside? Well, for one, there is no maximum upside, but further consider even if you do switch back for the Ether without all the levels being filled, Ether will likely go up many, many times in 3 years. (This would create massive value for FUTR however and hence there would be lots of mining of FUTR so unlikely the levels do not fill up if this is the case.) Well, in the event it goes up a lot, would you really, honestly hold out with Ether for the FULL price rise? Not many of us would. We love to think that we would hold out for a 33,000% gain, but very few of us have that level of risk tolerance in reality. Therefore, one other more "human" sort of benefit of FUTR is that it can be used as a mechanism in which self-discipline is exercised with respect to saving Ether.

We did not think of this ourselves, but rather a couple of FUTR buyers have been telling us this was a big reason for them to jump on board so thought we would share 

We will confirm this within the next week. We have an agreement with an exchange that is currently being signed / KYC etc. and looks good.

Also, had some nice press in CCN today: https://www.ccn.com/futr-first-ether-derivative-contract-hedges-investors-market-sells-off/

This is an excellent question - and well spotted on the function in the code!

Actually, we believe that the function concerned will encourage more professional investors and less abuse of the token. The function you are pointing to gives the foundation an additional 20% of ANY UNSWAPPED ETHER in the event that that a FUTR holder decides not to swap back for ETH. In an ideal world, there would be 0 ETH as 0 ETH * 20% = 0 ETH.

However, there will inevitably be investors who snap up the final levels in order to gain a supply-side advantage going into the next cycle. This yields a similar effect to premining FUTR. For instance, suppose ETH had a bad December and investor A loaded up on FUTR at L10 and doesn't swap. In March, things are looking rather better for ETH and so he hoovers up L1 and L2 of the following cycle. By L3, he unloads the L10 on investors in the market and is still in the money as a result of a) a climbing ETH price and b) owning a disproportionate supply from the previous cycle (held over/unswapped).

While we are not against anyone using FUTR in this way, and we are sure that many institutional investors will indeed employ it in this sort of game, we think that there should have to be a penalty for doing this. That way, it is fairer for the retail investor who is buying the FUTR. Overall, we were conscious that there will be 2 types of investor in FUTR; there will be the retail guy and the cryptofund. That is because FUTR IS ETH and therefore it is certain any fund holding ETH will diversify a bit into FUTR. Some of us are bankers and hence we know all the cheats and tricks that bankers play on unsuspecting retail guys. So we said to ourselves, okay, well let's not ban it outright, as it produces some demand / liquidity, but at the same time, let's penalize them for doing this sort of thing so that it is kept to a minimum and employed only in net value productive ways.

Hopefully we have struck the right balance - that was the aim, anyway! The main point of markets being "free" and especially, of markets being "decentralised" is that having more money should not give you that much of an advantage over having more knowledge. This is something that has almost been reversed in the case of a lot of crypto today, and that is very sad. The key with this function is to recorrect some of that so that the guy who has more knowledge of ETH / FUTR stands a better chance with this product versus the big bag holder who just buys mindlessly and unloads when he feels like it.

This is well worth reading now markets are turning down temporarily and highlights FUTR's status as a derivative (and hence increased versatility value-wise for traders): http://thecurrencyjournal.com/two-charts-that-show-how-futereum-futr-is-the-best-digital-asset-to-play-when-panic-selling-comes-to-crypto-markets/522/

Here is the jist of this: if you buy FUTR now, and ETH goes back to $1300 this year, you will make 100x your money. That's pretty incredible when you think about the scale and proximity of it all ...