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Author Topic: [ANN] [FUTEREUM (FUTR)] [Ethereum Blockchain Derivatives Contract]  (Read 2292 times)
futereum
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January 06, 2018, 06:38:57 AM
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FUTEREUM (FUTR)

The World’s First Smart Contract Enabled Utility Derivative

FUTR is a utility derivative enabled via the Futureum 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 simulate Ether Derivatives Contracts while giving holders whitelisted access to similar future product releases. Created by a former Ethereum developer in combination with leading financial engineers, FUTR offer miners not only core Blockchain utility but Ether-based derivative utility functions.



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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.


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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.

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MINING FUTR

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

0xc83355eF25A104938275B46cffD94bF9917D0691

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]

Mining is according to the following schedule:

LEVEL 1 / 114 FUTR/ETH / 1m FUTR
LEVEL 2 / 89 FUTR/ETH / 900k FUTR
LEVEL 3 / 55 FUTR/ETH / 800k FUTR
LEVEL 4 / 34 FUTR/ETH / 700k  FUTR
LEVEL 5 / 21 FUTR/ETH / 600k FUTR
LEVEL 6 / 13 FUTR/ETH / 500k FUTR
LEVEL 7 / 8 FUTR/ETH / 400k FUTR
LEVEL 8 / 5 FUTR/ETH / 300k FUTR
LEVEL 9 / 3 FUTR/ETH / 200k FUTR
LEVEL 10 / 2 FUTR/ETH / 100k FUTR

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.

What does this mean? The following are price guides for all levels of mining (note that prices fluctuate with the prices of ETH. The following are assessed at $1250 / ETH):

Jan   L1    $10.96
Jan   L2    $14.04
Feb   L3    $22.73
Feb   L4    $36.76
Mar   L5    $59.52
Apr   L6    $96.15
May    L7    $156.25
June   L8    $250.00
July   L9    $416.67
July   L10    $625.00

In the example above using only today's pricing there is a clear 5600% rise in the price of FUTR between Jan-Jul as forecast by the above table. In this example, FUTR rises from $9.12 (today's price) to $520 even as the underlying price of ETH stays the same! Therefore, we will only say this ONCE: DO NOT UNDERESTIMATE THE OPPORTUNITY TODAY TO MINE FUTR.

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FUTEREUM FOUNDATION TEAM

James Hurst - Founder
Tufty Roberts - Business Development & Marketing
Tinman - Developer
Emily Bianchi – Developer
Sophia Chilton - Developer
Pal - Web Developer
Amanda Jenkins - Public Relations Manager
Calvin Waters – Publisher & Editor

The Foundation Team is not the same thing as the management team of the project. The Foundation Team is solely responsible for undertaking the core development. The present founder James Hurst is in the process of integrating The Futereum Foundation with a major Blockchain and fintech parent company, under which a private subsidiary will be established. This subsidiary for-profit company will become the beneficiary of 25% of all the project revenues. TheFoundation will receive tradeable securities in return for forfeiting such revenue. The company’s management team will mostly consist of a newly-appointed board, however, the core developers and foundation team will remain in place directing the project accordingly from the standpoint of overseeing the not-for-profit foundation. This set-up is in the opinions of the foundation members the most robust structure for ensuring project health.

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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

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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


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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

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NAKASAWA
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January 06, 2018, 07:23:10 AM
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we need more info about your project
futereum
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January 06, 2018, 07:27:09 AM
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we need more info about your project
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?
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January 06, 2018, 09:24:45 AM
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NB - BOUNTY hunters please see the following post: https://bitcointalk.org/index.php?topic=2698502.0
DrVectico
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January 06, 2018, 10:13:11 AM
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Another token, or something useful?
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January 06, 2018, 10:44:24 AM
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Another token, or something useful?
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.
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January 06, 2018, 02:51:41 PM
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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

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January 06, 2018, 03:17:32 PM
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What are your terms in regards of security? Your top priority should be securing the funds of individuals. Do you have 2FA and will we, the investors have full control of our funds?
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.
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January 06, 2018, 03:25:02 PM
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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
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.
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January 06, 2018, 03:27:48 PM
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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
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.
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

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January 06, 2018, 03:35:37 PM
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Proof of Ether (PoE)  Huh no, it's not POXXXX, it's ICO = Proof per ETH, or POP = proof per Pay
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January 06, 2018, 04:44:48 PM
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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
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.
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
You can start trading the tokens on an exchange on February 2, don't worry. They will swap at 13 months back for the Ether however. You can find more in an excellent interview with Futereum founder James Hurst today: http://thecurrencyjournal.com/head-to-head-with-futereum-foundation-founder-james-hurst-on-the-launch-of-futr-ripples-xrp-decentralization-crypto/408/

So no need to wait so long to realise the value in FUTR. In fact, it is scheduled to rise by 2x-8x by February 2 if you analyze the algo carefully enough and make some assumptions based on how these things usually pan out.
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January 06, 2018, 04:47:15 PM
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Nice project... will love to participate in the program. when will the bounty be available?
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January 06, 2018, 05:06:41 PM
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Nice project... will love to participate in the program. when will the bounty be available?
Thanks! You can contact jameyap32 for bounty proposals as he is handling our bounty pools. 
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January 06, 2018, 05:16:17 PM
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What are your terms in regards of security? Your top priority should be securing the funds of individuals. Do you have 2FA and will we, the investors have full control of our funds?
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.
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.
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January 06, 2018, 05:54:16 PM
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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
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.
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
It is not a 13 month development timeline. The product is finished and you can go to the website to mine it right now. In 13 months it is the first possible date you can switch the FUTR to ETH but you will be able to sell FUTR on an exchange long before then; in less than a month in fact, on Feb 2.
yonganli1980
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January 06, 2018, 06:04:55 PM
 #17

How to mining?

★ ★ ★ ★ ★    [url=https://deeponion.org/?r
futereum
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January 06, 2018, 07:55:59 PM
 #18

How to mining?
It's in the main post, the website, and the whitepaper, but for those who missed all that:

Copy and paste the following address into your wallet and send ETH to mine FUTR: 0xc83355eF25A104938275B46cffD94bF9917D0691

Do not use an exchange wallet!  Use only a wallet that you control (i.e.: have the private key) and that supports ERC20 tokens.  For example, myetherwallet.

The tokens will be sent immediately to you in the same transaction. Because of this it takes slightly more gas.  Around 60,000 gas.

To add as a custom token use the same address: 0xc83355eF25A104938275B46cffD94bF9917D0691

Decimals is 18.
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January 06, 2018, 10:41:09 PM
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Nice project... will love to participate in the program. when will the bounty be available?
See the above example and you can see how buying today at $9 yields what will become (if ETH stays the same; if it goes up in price then multipley more, if down, divide) $520 / FUTR this year.
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January 07, 2018, 02:27:51 PM
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Why can't we chat in the Telegram group? Would be great! Thanks for considering.
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