$iFans utility token to launch its presale on the BSC
Nassau, Bahamas, Oct. 11, 2021 (GLOBE NEWSWIRE) — Everyone has probably heard of GoFundme, Kickstarter and the likes. Also, their crypto-based alternatives such as The Qube, The Red Kite, TrustSwap, Unicrypt etc. What do all of these platforms have in common? They are all fundraising platforms of sorts. However, they all lack a collective focus on creativity, community and decentralization.
$iFANS is the only blockchain-based, community-driven, creator-focused launchpad platform which puts major emphasis on its community and creativity while, simultaneously, providing creators and investors (FANS) with a safer and more secure way of raising funds/investing.
Native token of iFANS
$iFANS is the native token of the iFANS ecosystem, based on the BSC (BEP-20) and with plans to bridge over to Ethereum (ERC-20) in the future. The $iFANS Launchpad platform will launch the presale of its native $iFANS Token on the 12th of October 2021.
The $iFANS Token will have a variety of utility-based uses. For example, to gain access to $iFANS’ creator-focused projects, one must hold at least 100 $iFANS currently.
Utility of the token
The primary utility of the $iFANS token will come from it being used as a native currency on the $iFANS creator-focused launchpad platform. Additional utility will include, but not be limited to the following: staking, yield farming, creating personalized $iFANS themed Piggy avatars, minting of Piggy avatars, investing in upcoming projects and receiving up to 40% discounted transaction fees on the platform.
The presale will be held on the $iFANS website and it will have multiple stages with varying sale prices with incremental increase in sale price for each subsequent stage of the presale. The presale tokens will be released to investors in the following vested fashion: 25% of purchased tokens will be sent upfront and then, for 5 months, 15% per month. At the end of each presale round, 19% of the sale will be sent to $iFANS treasury to cover development, marketing and project costs leading up to launch date.
Presale system on the $iFANS website
Due to the nature of the $iFANS launchpad platform being based around raising funds the core team have decided to create their own presale system as well. This has been done in order to confirm to the investors how serious the team is about the project.
A further utility of the $iFANS token will be governance voting on the launchpad platform. When a project is submitted to $iFANS for review, it will be evaluated by the core $iFANS team and advisors. Once a project passes the team’s 5 key project milestones beforehand, it will be passed on to the community for voting. The most popular projects will receive a chance for crowdfunding. Additionally, the governance system will be used to decide the use of the community fund and treasury.
A percentage of transaction fees will go to the community fund and the treasury. A percentage of fees from minting the personalized Piggy $iFANS avatars will also go towards the community fund. Funds in the community fund will be used to provide a wide array of grants, sponsorships, partnerships and incentives for creatives. All use of the community fund will need to pass governance voting by the core team and advisors.
The community fund will be operated by the core team and advisors. As for the treasury – it will be used as a reserve at first. However, it could be used for anything that the team and the community agree on through governance voting. Both the treasury and community fund will be protected by a multi-signature security system.
The brains behind the operation
The team is comprised of experienced professionals in their respective fields. Together, they will work to build the first and only blockchain-based, community-driven, creator-focused launchpad platform, which puts major emphasis on its community and creatives while, simultaneously, providing creators and investors (FANS) with a safer and more secure way of raising funds/investing.
Here’s the list of core team members:
Kenneth Moncur – Founder, CEO
Ronrick Simms – Partner, Technical Analyst
Jason Kwon – CTO, Smart Contract Engineer
Umair Tariq – Design Lead
Ronald Manley – Blockchain Advisor