Dear community users:
I: Since the referendum on the FI issuance mechanism has been completed, according to the results of the referendum, following work has been carried out by FCoin team, FI community and interim committee after discussion and the resolution of the committee:
- Postponed “Insurance is mining”, retained and locked 20,000,000 FI in community public account as the storage funds for community development, destroyed the rest unissued FI.
- Determined the FI dividend distribution mechanism, that is, 20% of FI monthly distributable income will be distributed to FI holders and 80% will be used for financial management; proportion of dividends can be appropriately increased in the future according to the income of FI, but shall not exceed 80% of income in principle and the rest will be used for financial management.
- Discussed and determined the snapshot time for dividends at 24:00 (GMT+8) on the 1st of each month, distribute monthly dividends on the 10th of each month.
II: After discussion of the overall opinions of the FI community users and the platform, following proposals were made by the FInsur Community Interim Committee for the future development:
- The FI community will continue to research and develop more innovative insurance products and conduct first pilot application on FCoin.
- The FI community will establish a developer alliance relies on the FCoin open platform technology, to develop various game products and applications based on the blockchain architecture.
- Open the FI official trading zone on FOne and move the FI trading pair to the FI official trading zone. Disclose the research and development results of the FI Developer Alliance which aims to increase FI application scenario, to increase the traffic and revenue of the FI trading zone. Create more value and increase the profitability for FI holders.
- Establish the FI Community Committee, maintain the FI official community through the wisdom of the community and develop the FI insurance ecosystem.
III. Data statistics on FInsur project asset has been completed and publicized after confirmed with the committee and the team.
FI in circulation up to now is:
FI total liquidity: 300,449,040, of which the locked-up volume: 156,499,777.
Details are listed as follows:
FI team: 10,722,435 FI (will be locked for 3 years)
FI Fund: 20,551,335 FI (will be locked for 3 years)
FCoin platform: 45,413,401 FI (will be locked for 3 years)
Private purchased and partners holding: 59,812,606 FI (will be locked for 1 year)
FI community: 20,000,000 FI (the locked period is indefinite, and will not participate in dividends during the lockup period)
IV. Since the FI related mechanism has been decided and the relevant data has been publicized, and the FI project work is progressing as planned, FInsur Interim Committee is now applying for FI trading resumption at 14:00 (GMT+8) on September 23, 2018 in order to protect the interests of community users.
FInsur Community Interim Committee
September 22, 2018