Dear community member:
This FCoin Basic Regulations (Draft) (Part 1) is a key step in the FCoin communityization process. It is also the specific regulation of the FCoin Basic Law proposed by the previous announcement. We will make further revisions based on extensive consultation with industry experts and community members.
FCoin Basic Regulations (Draft) (Part 1)
1.All rights and interests of FCoin belong to all FT holders.
2.The formulation or adjustment of all major FCoin mechanisms must be approved by the referendum.
3.After the referendum is passed, all mechanisms and policies that are contrary to the mechanism established by the referendum will be terminated.
4.There are two ways to initiate a referendum:
(1)After the initial referendum, a referendum can be initiated every six months.
(2)If the co-sponsors jointly hold more than 10% of the total FT and obtain support from FT holders who hold more than 30% of the total FT in the pre-vote, a temporary referendum can be initiated.
5.80% of FCoin's total revenue is regularly distributed to all FT holders according to the proportion of ownership; the remaining 20% is used for FCoin platform construction and is controlled by the platform management team.
Interpretation of the formulation or adjustment of major mechanisms:
Whether or not it is the formulation or adjustment of major mechanisms will be judged by the FCoin community based on the principle of "case law". That is , all the formulations or adjustments that have undergone a referendum are major mechanisms.
August 14, 2018