[ANN] FIMK: 2.5G POS, extra block rewards, messaging, asset colors, p2p shopping

[Eliphaz Fimk]

It's my honor to present you the first 2.5G national distribution cryptocurrency.

FIMK (FIMKrypto) http://fimk.fi

Updated Jun 13 2016

Downloadable desktop wallet Lompsa.com for Windows, Mac, Linux, includes both of the following:

- electrum-like thin client doesn't require java
- full server downloads blockchain and requires java 1.8

https://github.com/fimkrypto/mofowallet/releases

Web wallet on the association's server:

https://lompsa.com
https://wallet.fimk.fi (backup)
https://mofowallet.com (old, multicurrency)

Released by a publicly accountable nonprofit association in a stable EU country, FIMK is extensively customized make from NXT core with several advanced features not widely available in the POS model cryptocurrencies previously:

Through the Lompsa.com client you can access the following functions:

- Create new FIMK accounts
- FIMK transfers, asset transfers
- Instant encrypted p2p messages (off-chain chat)
- Access the Decentralized Asset Exchange
- Issue public or private assets
- Exchange FIMK on the DAE
- Shopping cart and complete purchases on the FIMK Peer Marketplace
- Sell anything on the Decentralized Marketplace
- Create colored accounts (for asset-2-asset trading)
- Blockchain history for your accounts
- Full transaction history of the whole FIMK network
- Block statistics, forging and block rewards

The downloadable application can be used in full node mode, making your workstation a participant in the FIMK p2p network. As a full node, your workstation runs a FIMK server that enhances the operations of the peer network and is eligible for randomly assigned block rewards (currently 100 FIMK) approx. every 45 seconds on average

#Links

• Forum.fimk.fi FIMK discussion forum
• Downloadable FIMK client Lompsa (includes server)
• Latest online wallet
• Mofowallet.com (Old wallet)
• FIMK downloadable server only
• FIMK decentralized marketplace
• FIMK NEWS
• Block explorer
• Exchange BTC asset on FIMK DAE
• Exchange BTC/FIMK on Openledger
• Trade FIMK on NXT AE

Merchants can accept FIMK payments by manually customizing a merchant URL at Lompsa.com
Merchant URL example: https://lompsa.com/#/merchant/FIM-BA8U-LVXC-WBFT-49C4S/100000000/1440/Send%20money/Message%20text

# Blockchain & General Info

• Total FIMK in existence after ~5 years: 1000 million (1 billion)
• Total FIMK in Genesis block: 666,280,000 (666 million)
• Genesis block stakeholder funds: 333,140,000 by Jul 1st 2014
• Genesis block nonprofit association funds: 333,140,000
  
  • Paid as monthly basic income to all opt-in FIN citizens: 313,000,000
  • Reserved for bonus block rewards, promotion, marketing, bounties: 17,000,000
  • Reserved for organizational costs: 3,140,000
• Extra POS rewards for block forgers: Block rewards paid from within the protocol to the block forger, every ~45 seconds (until approx 5 years) 333,720,000

# Extra block forger rewards

Each block forger gets both the transaction fees and an extra block reward. There are 4 stages of block rewards:

TOTAL FEE STAGE 1: 177984000
TOTAL FEE STAGE 2: 88992000
TOTAL FEE STAGE 3: 44496000
TOTAL FEE STAGE 4: 22248000
FORGER FEE STAGE CHANGE IN BLOCKS: 889920

• FORGER FEE STAGE 1: 200 (DAY 0 to DAY 542)
• FORGER FEE STAGE 2: 100 (DAY 543 to DAY 1087)
• FORGER FEE STAGE 3: 50 (DAY 1088 to DAY 1631)
• FORGER FEE STAGE 4: 25 (DAY 1632 to DAY 2174)

- maximum transactions per block: 512
- minimum transaction fee 0.1 FIMK

Krypto Fin ry is prepared to disburse about 3 million FIMK as bonus rewards on round number blocks and other remarkable events.

# Additional Functionality

• Decentralized encrypted messaging with minimal 0.1 FIMK fee
• Encrypted FREE off-blockchain chat
• Alias creation for wallet, fee 1 FIMK
• Email account format
• Fee for asset issuing 1000 FIMK
• Fee for issuing account color 1000 FIMK
• Private assets
• Colored accounts
• Virtual exchange layer provides instant asset exchange order matching
• Adjustable themes
• Worldwide language selection

# FIMK Project Schedule

• 31.5.- 27.6.2014stakeholder donation period (533 BTC donated)
• 31.5.2014 testnet release
• 1.7.2014 genesis block distribution
• 2.7.2014 Wallet public release, software open sourced
• 1.9.2014 Kryptoradio nationwide digital tv transaction broadcast begins
• 31.10.2014 Re-engineered wallet released at http://mofowallet.com
• 1.12.2014 -> basic income for Finnish citizens 1000 FIMK / month / opt-in person (authenticated) began
• 30.03.2015 new FIMK 0.4 with websockets and virtual layer released
• 11.10.2015 Wallet rebrand to Lompsa, added local translations for Finnish, Polish, Bulgarian
• 20.01.2016 Email account format
• June 2016  ***Mystery news upcoming***

# Organization's Role

• Designs, implements, tests, launches platform
• Distributes genesis block stakes, extra rewards, bonus rewards
• Arranges citizen stake distribution, authentication, basic income
• Coordinates community efforts, development and organization
• Allocates bounty projects and pays project rewards
• Develops side projects and promotes FIMK adoption for secure messaging & retail payments
• Performs minor market stabilization through support purchases / sales when necessary

# Membership in Organization

• Anyone can apply for membership
• Members are eligible to join yearly events and meetings
• Members enjoy privileges in community decision making process
• Members receive small one time stake of FIMK in exchange for the membership fee
• Yearly membership fee (EUR) and corresponding FIMK stake to be decided by the board

The association pushes forward the adoption of FIMK for domestic and international trade. FIMK welcomes development of third party services such as exchanges, games and merchant services and is prepared to financially support deployment arrangements.

# Screenshots

# Other material

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[Simakki]

sounds interesting, but we will see 

Hyvä meno! Mihin kerätyt lahjoitukset sitten käytetään ja kuinka paljon odotatte saavanne kerättyä

[Anduck]

Sounds interesting. I don't like IPOs though... Also why isn't the source code released when the coin is launched? You could take the premine from block #1.

[Eliphaz Fimk]

Hyvä meno! Mihin kerätyt lahjoitukset sitten käytetään ja kuinka paljon odotatte saavanne kerättyä

Donations are used to progress the nonprofit association's cause ie. promote the adoption of the currency, and of course to cover costs (and maybe to arrange parties for you members if anything is left  ).

We don't yet have an idea of the potential amount of funds raised however because of the fairly prominent escrow contract it could be moderate.

We thought about using the funds to back up the system but the technology for that would have seized the window of opportunity that is already closing.

Also why isn't the source code released when the coin is launched? You could take the premine from block #1.

In fact it could be released, the current date is there to allow some leeway for the head dev. Premine from block #1 - would that not be visible all over? We are a publicly accountable association in the least corrupted country in the world, operating with our real names. BTW the association gets a "premine" of 1/3 for national distribution for the Finnish citizens - there is little room for fraud in that though as the national distribution will be authenticated through government backed online ID system (TUPAS).

[Anduck]

Also why isn't the source code released when the coin is launched? You could take the premine from block #1.

In fact it could be released, the current date is there to allow some leeway for the head dev. Premine from block #1 - would that not be visible all over? We are a publicly accountable association in the least corrupted country in the world, operating with our real names. BTW the association gets a "premine" of 1/3 for national distribution for the Finnish citizens - there is little room for fraud in that though as the national distribution will be authenticated through government backed online ID system (TUPAS).

I don't mean I think you wouldn't be open with the premine. What happens if/when not every finn claims the coins? Who gets the leftover?

[mediogreFIN]

What happens if/when not every finn claims the coins? Who gets the leftover?

All of it is shared as basic income. If less people are registered than we assumed, then few people get more.. if we have millions registered for basic income then the "basic income pool" will be empty much faster than we calculated. None of it goes waste or is misused. This fixes the problem auroracoin had with it's airdrop.

[Eliphaz Fimk]

if we have millions registered for basic income then the "basic income pool" will be empty much faster than we calculated. None of it goes waste or is misused. This fixes the problem auroracoin had with it's airdrop.

Exactly It was indeed a revelation to come up with this solution. Much better for everyone.

[aigareth]

another fork of nxt？

[mirador17]

I heard that Dgex.com will add this coin. There are currently some promising coins and graviton want to add this shitcoin? Congratulation dear shareholders. This is the beginning oft the end of Dgex.

[Eliphaz Fimk]

I heard that Dgex.com will add this coin. There are currently some promising coins and graviton want to add this shitcoin? Congratulation dear shareholders. This is the beginning oft the end of Dgex.

Thanks for your valuable opinion.

I'm happy for the partnership with DGEX which is likely to be beneficial for all parties.

[Rich1970]

I heard that Dgex.com will add this coin. There are currently some promising coins and graviton want to add this shitcoin? Congratulation dear shareholders. This is the beginning oft the end of Dgex.

I'm still holding my shares. This is the beginning of DGEX. Adding any new coin will help the site traffic, trading volume and ultimately increase market share of the exchange.

[mirador17]

I heard that Dgex.com will add this coin. There are currently some promising coins and graviton want to add this shitcoin? Congratulation dear shareholders. This is the beginning oft the end of Dgex.

I'm still holding my shares. This is the beginning of DGEX. Adding any new coin will help the site traffic, trading volume and ultimately increase market share of the exchange.

Of course you hold it, because you can't sell it now. You have paid 100 nxt or more and now the price is around 70. 

[Eliphaz Fimk]

This thread is about FIMK and not DGEX. DGEX is just the initial distribution partner that's established and enjoys community trust to a level that enables more efficient distribution of the stakeholder allocation of FIMK. I'd appreciate if DGEX issues not related to FIMK distribution would be discussed elsewhere.

[Stan Rabbit]

Hi,

ive followed your instruction, but i couldnt read anywhere how much btc i have to transfer from blockchain info wallet. Ive just sendet, 0.0001 BTC and my Fimk AccNumber,  ist that ok?

thank you,
hope Fimk will be full succes.

[Abel jonh]

fork of NXT？I dont think this one can make a success

[Eliphaz Fimk]

ive followed your instruction, but i couldnt read anywhere how much btc i have to transfer from blockchain info wallet. Ive just sendet, 0.0001 BTC and my Fimk AccNumber,  ist that ok?

Thank you. Every little fraction of BTC helps with spreading out the distribution. Everyone can decide the donation amount for herself - the genesis block will be divided between all donators on the proportion of the total donations. So for instance if the total donation amount ends up to be 3.33 BTC, your 0.0001 BTC will get you about 10000 FIMK.

[Stan Rabbit]

Oh OK,

but should write it in your IPO Terms,  it isnt visible enough for interessted People how the distrubtion is working,  with payment of a fixed amount or a distrubtion related to single payments how it seems to be now.

So if i would like to pay more now, should i create again a new New Blockchain Wallet or can i use the created one again? i would like to use the created one again. Is that ok?

thx

[gvans]

Any info about possible share sales via dgex? Or even better, you could make it in nxt asset exchange.

[Eliphaz Fimk]

can i use the created one again?

You can use the same FIM-address to send more funds, we'll match it up with your original one eventually.

Thanks for the opinion on the IPO methods, we've received other reports also that it's unclear and will clarify the process soon enough.

FIMK is planned to trade on DGEX but no plans to list on NXT AE. Which purpose would listing there serve, gvans please?

[gvans]

FIMK is planned to trade on DGEX but no plans to list on NXT AE. Which purpose would listing there serve, gvans please?

Imo Nxt AE would be just an alternative platform for IPO which would propably provide visibility for different crowds in addition to those who are familiar with dgex. I don't mind using dgex, I do have account there. But as an example I think the volume and visibility NEM has achieved via Nxt AE so far is pretty impressive. Not sure if that would have happened on any other platform. This is not IPO though, but a kind of pre-market for existing stakeholders to play around with their stake before the actual NEM launches.
http://nxtblocks.info/#section/assets_exchange/12465186738101000735

Then again I'm not sure what would be the best way to limit the single user collecting no more than 10% of the stakeholder distribution if it is freely tradable. Maybe by listing only 10% in Nxt AE? Just thinking aloud. And sure you can do without AE, that was just another idea.