Dear community users:
FI project team decide to terminate the acquisition plan since consensus can’t been reached among the community.
Based upon the current status:
1. FI project team comes from a professional insurance team. FI project has been launched in anonymously for the policies restriction of team location, that’s why official community channel hasn’t been established so far.
2. Early FI products were released by FCoin. There are several products on the market (including those on trail run), but cooperation between two parties needs to be enhanced, so that the mechanism building can be accelerated and other tasks can move forward.
In consideration of the cooperation between FI project and FCoin platform, and the unreached acquisition intention, FCoin is planning to implement the following project operation plan:
1. FI Project team will entrust FCoin to carry out FI community construction and related matters as soon as possible, the specific cooperation terms will agreed-upon the project team and FCoin
2. Since all early products were released by FCoin, R&D of FI products in next stage will be coordinated and implemented by FCoin
3. FI project team will continue to play a leading role of their professional advantage, to develop more community insurance products and serve for the business of FCoin 2.0 strategy .
4. FI Gross profit allocation plan:
(1) Gross profit will be distributed on a monthly basis. Take the first day of each month as the settlement date, 80% of the gross profit of the previous month will be distributed to FI holders before 10th of this month, which comply with agreement rate of white paper.
(2) The first settlement date is September 1, 2018, shall based on the snapshot of FI holdings amount at 0:00 on September 1, 2018. The first allocation ( which is the accumulated gross profits) will be completed before September 10th.
(3) The calculation monthly gross profit method: [Total monthly premium income – Total compensation of the current month].
Please note that the total monthly premium income in the above formula is not the one-time income, but the full equally monthly income based on insurance period. For example, a community user insured 365 days- insurance products on the 20th of this month (there are 30 days in total in this month), the premium income of the current month should be: [The insurance premium * (30-20) / 365]
5. FI related trading pairs will resume trading on September 2, 2018 at 20:00 (GMT+8).
FCoin will promote the above operation plan as soon as possible, including technical support such as gross profit distribution, FI community construction and supporting community voting.
Sep 2, 2018