FEDORA GOLD EVOLUTION - THE DETAILS
Fedora Gold (FED coin) launched in SEP 2018. The FED coin is part of the CryptoNote family, using a highly customised CryptoNight V7 mining algorithm. This is key to our goals of increasing the value and reach of Fedora, enhancing the tech fundamentals and providing a foundation for future development.
The Fedora Project has it's origins in TIPS, and existing Tips holders are welcome and able to exchange their Tips for FED coin. You can follow the swap activity on our Offical Telegram group and you can check our Fedora Tips ANN thread.
The FED coin CryptoNote platform supports the Fedora roadmap use cases that are essential for a state of the art crypto-currency:- Super Fast Transactions
- Fully private holdings
- ASIC Resistant Mining
- Mobile first GUI wallets
The Fedora Project will continue supporting Fedora TIPS where possible, however TIPS has reached end of chain and the inherent tech limitations built into it by the original creators (not the current team). At this point TIPS is in uncharted territory and we can't predict it's future - we therefore strongly recommend swapping your TIPS to FED coin. FED coin uses the very latest CryptoNote algorithm and a wallet codebase to match. Our development priority is now Fedora Gold, because FED coin has the tech foundation that we need to build our mobile first, real time tipping and transacting use cases.
PREMINE AND SUPPLY CONSIDERATIONS
Before the launch, the project team premined 20 billion Fedora Gold FED coins. This premined amount will be used to support the Tips->FED swap and for ongoing development work:
- 10 billion to cover all possible swap amounts needed
- 10 billion for project funding - future development, marketing & airdrops*
This leaves 80 billion FED coins un-mined and available to the Fedora community. Our custom CryptoNight V7 algorithm is very low inflation - the chain will take approximately 50 years to mine out.
*The 10B coins allocated to project funding are broken down by:- Airdrops/Community: 2 billion
- Partnerships/Marketing/Commercial & Listing Fees: 3 billion
- Development: 5 billion
Development funds will be allocated to the Fedora project team subject to a vesting schedule. The Fedora team was founded in Sept 2017, and has worked on a voluntary basis since that time. FED coin was launched in Sept 2018, and the development premine will begin to vest from Sept 2019. This period of two years is crucial to our philosophy. Only 25% of the dev premine vests in Sept 2019, with subsequent tranches of 25% vesting each calendar quarter following.
The future of the FED coins that remain unswapped after one year will be discussed with the wider Fedora Gold community at that time, with options including burning, marketing, airdrops or some combination thereof. No decision is to be pre-empted because we realise that a larger community at that point will have a diverse range of opinions.
WALLETS
Prefer working from the command line? Download the Linux CLI wallet from here. GET FEDORA
The Fedora Gold FED coin is traded at Altilly.com, and from April 29 will be listed at Coinexchange.io
If you currently hold Tips then you can also swap them to FED coin at both Altilly and Coinexchange. Altilly provides a manual swap feature for any holders wishing to exchange, while Coinexchange is conducting a blanket swap of all Tips->FED on April 29. This thread will be managed by FEDORAGOLD team.
