Hello,
Thanks for stopping by. Fennec is an up and coming Bitcoin fork with a handful of modifications to make it a unique and adapted asset to today's market. We plan on launching next month, and as you will be able to tell, we have made significant changes to our specs. You can find them attached below, with explanations for why we chose to go with each:
- List of Specs:
- Name: Fennec
- Ticker: FNNC
- Chain Type: POW
- Rpc and P2p ports: 8339 - 8338
- Block Size: 4MB
- Block Time Speed: 2.5 minutes
- Block Reward: 6.25 FNNC
- Max Supply: 21 million
- Halving Time: 1,176,055 blocks (5.59 Years)
- Premined Coins: 6.3 million (30%)
- Mining Inflation (of Circulating Supply) for the first 4 years: 20.857%, 17.258%, 14.718%, 12.830%
- Difficulty Readjustment Time: Each block
- Algorithm: YescryptR16 (GPU & CPU)
-Let’s break down the specs, and explain our reasoning for each spec:
------------------------------------------------------------------SPECS EXPLANATIONS--------------------------------------------------------------------------------
- Name: Fennec
- Personally, as the founder, I chose Fennec as our name because I really like the Fennec Fox. I found it to be a cute, meme worthy animal… but I knew that I would also want to take this project fairly seriously. Because of this, we made the logo a bit cleaner than your typical meme coin cartoon animal logo.
- Fennec Foxes are also known to be very versatile, hardy, and well-adapted to their environment, which is ultimately the aspiration of the Fennec community.
- Ticker: FNNC
- Most tickers are simply an abbreviation of the name, and commonly remove the vowels. We simply removed the two e’s, and made our ticker “FNNC”.
- Chain Type: POW
- POW coins tend to get more adoption, have more network security, and also incentivize more decentralization than POS or Masternode coins. We did have a considerable premine, but there is another portion of the website that discusses why we did this. Please see “Why the Large Premine?”, in our Security Questions section of the site.
- Rpc and P2p Ports: 8339 - 8338
- Our coding developer prefers using these specific Rpc and P2p ports.
- Block Size: 4MB
- A 1MB block size would help a bit with decentralization, but because we are also prioritizing fast transaction speeds, we decided to go with a 4MB block size. After the SegWit Bitcoin soft fork, Bitcoin also adopted the 4MB block size.
- Block Time Speed: 2.5 Minutes
- Because we were able to customize our block time speed, we decided to go with 2.5 minutes instead of keeping a 10 minute block time like Bitcoin. It is our aim to be a more effective blockchain where we can be, and we believe that Litecoin’s decision to adjust block time to 2.5 minutes was ultimately a good decision.
- Block Reward: 6.25 FNNC
- We have ¼ the block time speed as Bitcoin, so we had to adjust our block rewards. When Bitcoin launched, 7200 coins were released per day (this is before any halvings had occurred). We decided to reduce block rewards, and have a 30% premine, so our initial investors would not be hit with excessive dumps from miners. The inflation of the circulating supply would be overwhelming for the first several years if we did not have a premine and if we did not have a reduction of block rewards.
- Max Supply: 21 Million
- It was Fennec’s goal to have the same total supply as Bitcoin, and we were able to achieve this goal. It keeps our market cap and coin supply in a healthy perspective, unlike the typical smart contract meme tokens with billions or trillions of coins.
- Halving Time: 1,176,055 Blocks (5.59 Years)
- Our halving time is considerably longer than Bitcoin’s, and this is because we reduced the initial block rewards. Reducing the initial block rewards provides our early community an opportunity for healthier price corrections, as well as a generally stable price. Without excessive coin supply inflation, initial investors have an opportunity to spread awareness of the Fennec blockchain, and continue to adopt it without having a major liability (excessive mining or rapid circulating supply inflation).
- Premined Coins: 6.3 Million (30%)
- The premine was a decision that was very difficult for Fennec to make. While there are projects out there that do not have a premine, most of the time they do not have any sort of sacrifice phase or initial peer-to-peer sales either, so their treasuries are limited. In our case, the treasury will be secured in a Gnosis safe, a multi-signature safe, so every transaction that is proposed has to be cosigned by the entire internal team. This will ultimately make the treasury very secure, and prevent any individual from executing any sort of exploit toward the funds. Gnosis safe is a very secure application as well.
- If we did a 10% premine, our circulating supply inflation rate would be approximately 62.511% with the current block rewards, and with a 30% premine, our circulating supply inflation rate is approximately 28.857%. This is a drastic difference in terms of providing security to our retail adopters, as well as our miners in terms of having price stability, and avoiding excessive coin dumps.
- Difficulty Readjustment Time: Each block
- Because mining may be inconsistent at the beginning of our launch, we set the difficulty readjustment time to each block so that changes in our hash rate do not drastically affect block reward distribution for a very long period of time. In fact, we aimed to reduce this period of stability to be the shortest duration possible.
- Algorithm: YescryptR16 (GPU & CPU)
- While we are a Bitcoin fork, changing our algorithm from SHA-256 to YescryptR16 differentiates us from Bitcoin considerably. YescryptR16 is a GPU and CPU compatible algorithm, and we decided to go with it because SHA-256 is a very dangerous algorithm for new, smaller projects to utilize. There are a plethora of Bitcoin mining farms that could execute a 51% attack on our network at the push of a button if we ever see considerable price appreciation and mining profitability. It would truly be a catastrophic mistake to choose an algorithm that has such an incredibly high hash power supply available.
- YescryptR16 allows people with GPU mining rigs to mine Fennec, and there are many former Ethereum miners looking for a new blockchain to configure their machines to validate transactions for.
------------------------------------------------------------------------END OF SPECS----------------------------------------------------------------------------------
We are seeking constructive criticism, as well as new members. If you are interested in our group, we have about 225 members currently and plan on expanding more over the next month, leading up to when we begin distributing coins in an open peer-to-peer sale, around December 2nd-December 3rd. There is much more information in our group about our roadmap, specs, AMA/Q&A, and more. Our website is currently under development, but if you wish to simply track us from there, we can be found at
www.FennecBlockchain.com .
Telegram:
www.t.me/FennecPortalDiscord:
https://discord.gg/97xvrQPchnLinkTree (Includes our Website, GitHub, Reddit, Telegram, Discord, Instagram, and Twitter):
www.LinkTr.ee/FennecBlockchainTelegram is by far our most active community, with 225 members.
------------------------------------------------------------------------SYNOPSIS---------------------------------------------------------------------------------------
Fennec is a Bitcoin fork with a strong community outreach effort. Over the next 6 months, our goal is to have 1000-2000 members in our Telegram and Discord groups. Because Fennec is not a BSC, ETH, or other L1 Smart Contract Token, it has a very unique set of traits that signify it as an asset with greater potential price appreciation. This project is going to be a long one, and a slow one, with CEX listings coming every several months.
Fennec can be mined through the YescryptR16 algorithm. This will allow for sufficient network security and support, as well as an opportunity for community supporters to acquire extra Fennec! Proof of Work cryptocurrencies tend to gain the most value over time, because they are consistently invested in through energy costs and network maintenance. The fact that Fennec is being mined on YescryptR16 means that many old GPU/CPU miners could be put to work by mining Fennec! With the ETH merge, many of these CPUs/GPUs currently have nothing to mine. If Fennec becomes popular, it will give these CPU/GPU miners another chance to be productive. This will give us many more potential miners, which translates to a more secure network and a higher potential for price appreciation! For this reason, we have chosen to go with the YescryptR16 algorithm. Plus, we won't be overpowered by ASIC farms and such.
Because this is not a BSC, ETH, or other L1 Smart Contract Token, it is not listed on DEXs, but it can (and will) be listed on CEXs that do not require KYC (Know Your Customer/Identification). The roadmap will disclose much more, but for those who are interested in creating a lasting community, Fennec is a great place to start! Coins are different from tokens in the sense that their volume is much lower at launch, and it progressively ramps up over time as the community builds and exchange listings increase in quality and variety. This is very different from the very common 2-3 hour P&Ds (Pump and Dumps) that are seen on BSC and ETH.
The roadmap will explain much more of how we plan on going about making progress in the Fennec project. In the meantime, we are working on creating the logo, the code base for the coin, the cold wallets (compatible with Mac, Linux and Windows), as well as the block explorer. Because Fennec is on its own chain, it has its own exclusive block explorer as well. The community building efforts have simply just begun, and it is fair to say that our community is in its infancy. Come see what the fuss is about over at Fennec!
----------------------------------------------------------------------ROADMAP-----------------------------------------------------------------------------------------
Q4 2022
- Creation of the Fennec Social Media Platforms (Telegram, Discord, Twitter, Reddit, Instagram)
- Creation of the Fennec Website (
www.FennecBlockchain.com)
- Creation of the Fennec Cold Wallet Apps (Compatible with Windows, Linux, and Mac)
- Creation of the Fennec Coin and Mining of the Genesis Block
- Creation of the Fennec Network Block Explorer
- Creation of the First Fennec YescryptR16 Mining Pool
- Creation and Maintenance of All Servers, Firewalls, HTTP and HTTPS Protection, DDOS Attack Protection, as well as TCP Protocol-Employed Protective Measures.
- First Exchange Listing (FinexBox)
- FMiNE Wallet Sales and Airdrops (Peer to Peer Sales to Distribute Fennec to the Community)
- Creation of the Team Gnosis Safe, Selection of Key Holders for the Safe (
https://gnosis.io/safe/)
- Intense 4chan Community Recruiting/Outreach
- Bounty Hunts (Guerilla Marketing, Incentivized with Airdrops and Rewards from the FDRoP Wallet)
- Meme Contests and Invite Contests (Incentivised with Airdrops and Rewards from the FDRoP Wallet)
- First and Second Market Capitalization Listings (CoinGecko and CoinPaprika)
Q1 2023
- Standard Codebase Audit Certification
- Increase in Marketing Efforts (Maintaining 4chan Presence While Branching Out to Our Other Socials)
- Second Exchange Listing (TradeOgre)
- Increased Intensity of Bounty Hunts (Guerilla Marketing, Incentivized with Airdrops and Rewards from the FDRoP Wallet)
Q2 2023
- Third Market Capitalization Listing (CoinMarketCap)
- Third Exchange Listing (Bittrex)
- Fourth Exchange Listing (Currently Choosing Between Nearly 50 Intermediate Exchanges!)
- Increased Marketing Pressure (Paid Calls, Videos, and Extensive Guerilla Marketing from Within the Community)
- Get Our Mining Pool Listed on
https://whattomine.com/ Q3 2023
- Maintenance of Marketing Pressure from Q2 2023
- Fifth Exchange Listing (KuCoin)
- Ledger Support
- Wrapped Fennec (ETH, BSC, Polygon, and More Networks if Possible!)
------------------------------------------------------------------END OF ROADMAP------------------------------------------------------------------------------------
We are prepared to take any measures necessary to be a successful project and community. Please check out LinkTree and consider joining the community or supporting the network through mining! I am happy to answer any questions in our Telegram or Discord, but I am easier to get in touch with on Telegram @FennecOwner . Thank you for your time!
