[ANN] [FUTEREUM (FUTR)] [Ethereum Blockchain Derivatives Contract]

[futereum]

Thanks for the positive statements. In terms of demand, a few interesting side notes and observations to share about the project so far:

1. With respect to underlying core demand for FUTR, it should really have as much demand as does Ether, since it is a derivative of Ether. This is sort of like saying Bitcoin had the same demand as there was for USD and CNY in the world, since Bitcoin is really a derivative (with a quirky carbon credit type algorithm jammed in it) of USD and CNY. Naturally, as a result, Bitcoin soared.

2. Having core utility beyond being FIAT payment substitutes with depreciation built in is essentially what separates utility crypto such as Ethereum from coins such as Bitcoin or Litecoin; BTC and LTC have no real utility at all other than as general payment mechanisms, whereas ETH has core utility as a gas obviously used to send tokens and Ether to and from everywhere, and also used to do things like make new tokens.

3. How much underlying demand will there be for Ether? is what then becomes the big question. Further, how much of that demand would want to take a diversified bet on FUTR in order to yield a higher-than-average return or to gain supply control of a mini-ETH ecosystem that is about to begin progressively more difficult mining levels anew?

4. Demand is likely to be for the most part organic and we are seeing some real evidence of this is much of the FUTR mining activity, with people mining FUTR more than once and several days - even a week or so - apart at a time. Essentially, because the underlying currency is ETH, FUTR seems to be considered a pretty attractive diversification to those who are currently taking advantage of the L1 mining.

5. We are going to see FUTR advertised around much more this week, on ICO sites, Google, FB, social media sites, and there will be more press forthcoming, so this should help build on the momentum for now.

We want to take the opportunity to thank those who have helped kick start FUTR's recent circle of the crypto communities everywhere which has been so helpful! We are very lucky to have such a smart, connected and intellectually-engaged core community building here, and to those who are still on the fence, we hope you come in and give the project a looksee.  

[futereum]

FUTR now up at ICO List: https://ico-list.com/Index/detail/id/429.html

Nice start to the week! 

[john1010]

This coin will definitely making a historic in the crypto world, kudos to the dev team and I hope that this coin is making significant.. Wishing you good luck!

[futereum]

This coin will definitely making a historic in the crypto world, kudos to the dev team and I hope that this coin is making significant.. Wishing you good luck!

Thank you! We really hope so. There is a number of super-new things in this, but we have tried to think it all out as much as possible and make sure the follow-through is structurally as straightforward as possible 

[futereum]

TODAY'S UPDATE   : We have a listing now at ICO bench https://icobench.com/ico/futereum listing / FUTR now up at ICO List: https://ico-list.com/Index/detail/id/429.html (from eariler post) / ICO alert / in additional ICO alert loves our project and has agreed to provide us a feature listing for 2 weeks, do an email campaign mail shot to their 20k subs, and a Special Report on Futereum. As well, Open Ledger has agreed to list us on their exchange and we are working out terms and costs etc. We also have 3 other publications filing stories on Futereum and we are talking with one other major ICO listing site to get the word out! Thanks for your support as always ...

[futereum]

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 ...

[hftos_crypto]

Hi, I like the idea, product is out, no endless wait for world peace, etc. I am thinking about investing myself. While reading the code, I saw that you charge 20% penalty for not swapping at the deadline.

 // Any holders that miss the swap get to keep their tokens.
 // Ether stays in contract, minus 20% penalty fee.

Could you, please, explain the rationale behind that? As I gathered, this is on top of the usual fee, so the fee for carried over balances is 35% after the 15% paid initially. Is this correct? Wouldn't this affect the scenario when a hedge fund buys the last few tiers of a contract, banking on the gains from the next?

[futereum]

Hi, I like the idea, product is out, no endless wait for world peace, etc. I am thinking about investing myself. While reading the code, I saw that you charge 20% penalty for not swapping at the deadline.

 // Any holders that miss the swap get to keep their tokens.
 // Ether stays in contract, minus 20% penalty fee.

Could you, please, explain the rationale behind that? As I gathered, this is on top of the usual fee, so the fee for carried over balances is 35% after the 15% paid initially. Is this correct? Wouldn't this affect the scenario when a hedge fund buys the last few tiers of a contract, banking on the gains from the next?

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.

[highnayem34]

Hmmm.which exchanges will futerum list on 2/18.....

[futereum]

Hmmm.which exchanges will futerum list on 2/18.....

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/

[Yaumatei]

Hopefully we have achieved the right balance - that's the goal! The main point of the market is Although we are not against anyone who uses FUTR in this way, and I am sure that many institutional investors will definitely use it in this kind of game

[EternalPropagation]

Pre-Order

I have been in the Telegram Community: https://t.me/FutereumCommunity chat for the last few days and the community has been a great help in helping us understand this product, especially Amanda, who never sleeps.  I’m excited about this project (I’m a large FUTR investor) that I want to get more people involved.  To do so I’m selling a portion of my FUTR pre-order for 20% below level 1 mining cost!  You don’t get it cheaper than that when it gets listed on Open Ledger, February 2.  This discount is on the honor system but I figure it would be enough to get you to join into our chat room to learn more.  

EtherDelta Listing: https://etherdelta.com/#0xc83355ef25a104938275b46cffd94bf9917d0691-ETH

Thanks
Bluelogic

Buying this would be useless though wouldn't it?

[Meteeray]

Pre-Order

I have been in the Telegram Community: https://t.me/FutereumCommunity chat for the last few days and the community has been a great help in helping us understand this product, especially Amanda, who never sleeps.  I’m excited about this project (I’m a large FUTR investor) that I want to get more people involved.  To do so I’m selling a portion of my FUTR pre-order for 20% below level 1 mining cost!  You don’t get it cheaper than that when it gets listed on Open Ledger, February 2.  This discount is on the honor system but I figure it would be enough to get you to join into our chat room to learn more.  

EtherDelta Listing: https://etherdelta.com/#0xc83355ef25a104938275b46cffd94bf9917d0691-ETH

Thanks
Bluelogic

That's not the real FUTR token.

Do not pay attention to the manually loaded tokens to the etherdelta, wait for official announcement. On the other hand, project have really creative name 

[EternalPropagation]

>If the 10th level isn't filled by the 13th month deadline then the deadline will be pushed back to 36 months

And what happens when the 10 levels can't be filled even after 36 months?

[futereum]

>If the 10th level isn't filled by the 13th month deadline then the deadline will be pushed back to 36 months

And what happens when the 10 levels can't be filled even after 36 months?

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 

[futereum]

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!

[bluelogic]

Pre-Order

I have been in the Telegram Community: https://t.me/FutereumCommunity chat for the last few days and the community has been a great help in helping us understand this product, especially Amanda, who never sleeps.  I’m excited about this project (I’m a large FUTR investor) that I want to get more people involved.  To do so I’m selling a portion of my FUTR pre-order for 20% below level 1 mining cost!  You don’t get it cheaper than that when it gets listed on Open Ledger, February 2.  This discount is on the honor system but I figure it would be enough to get you to join into our chat room to learn more.  

EtherDelta Listing: https://etherdelta.com/#0xc83355ef25a104938275b46cffd94bf9917d0691-ETH

Thanks
Bluelogic

That's not the real FUTR token.

Do not pay attention to the manually loaded tokens to the etherdelta, wait for official announcement. On the other hand, project have really creative name  

Token Validity can be confirmed by checking the Contract Address on EtherDelta to Etherscan: https://etherscan.io/token/0xc83355ef25a104938275b46cffd94bf9917d0691 click the link "Make sure Futereum Tok is the token you actually want to trade. Multiple tokens can share the same name." and it will launch to Etherscan.   Check the Futereum website and you will see the same Contract Address: https://futereum.org/

There are almost 100 members in the FutereumCommunity Chat and I'm in the chat room if you have questions.

[futereum]

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

[bengsabeng]

FUTEREUM? it reminds me of Ethereum. 
I see it looks like this coin has great potential in the future. then where can I get this coin? is this coin already listed on the exchange and can be traded?

[Pivooooo]

You are a team of three tech and finance experts who work with listed Fortune 500 companies, in the development of digital, mobile and Blockchain applications. Since the Futereum’s smart contract source code is published however, we don’t see any reason to make ourselves public figures right away. When to wait for the removal of masks and announcements of publicity?