Fyfy’s Major Announcement: White Paper And New Website Release on Saturday, July 24
‘The crypto industry is changing at a rapid pace. During the journey, the Fyfy Team needed to decide the best current technology and choices for the project. This White Paper is the map for the project, illustrating different phases of its technological development. It’s also the most critical tool for the investors to evaluate the fundamentals of the project, understand the whole framework of the innovation, and initially make an initial investment decision. This blog is a sneak peek to the months of effort on the White Paper which will be published on July 24 together with our new Pre-ICO website!’
The White Paper is the cornerstone of any successful project
We wanted to introduce our Team, innovation, ecosystem, and future outlook so that the majority of people can understand what the Fyfy ecosystem is. The White Paper presents the technologies at a general level for investors to understand the fundamentals and make an investment decision.
We have a near, medium, and long-distance road map for the development of the Fyfy ecosystem. As the development goes further, we will keep the White Paper updated and include additional technical illustrations to highlight specific technical features in more detail.
The development of a sustainable ecosystem takes both time and resources. Especially programming and operating with the Solana network requires specialized knowledge and skills. Currently, we have a knowledgeable 20-member team with different specialties. We continuously hire new people according to the progression and needs of the Fyfy ecosystem.
Fyfy is proud of its Finnish origin: The Finnish trust
Building a sustainable ecosystem and business requires support from the community. In addition, we’re planning on developing a partnership program that would support the development of the ecosystem and create a unified community. We’re strengthening the ecosystem through negotiating with different partnerships, and this begins with Ethereum and Solana.
Furthermore, we have successfully started to grow our community. We aim to provide an opportunity for community members to invest in the project in the near term. Therefore, we have not selected to go through the most accessible road, attracting only a few big institutional investors.
Fyfy ecosystem is a Finland-based innovation with a strong Finnish Leadership team. Finland has a history of trust in building credible brands. The world needs a trusted platform, innovation, and customer-centricity, which we can offer.
Although Finnish regulatory framework is not able to support us with our Pre-ICO launch, we’ve decided to stay closer to Finland and launch our FYFY token from Estonia (Finland’s closest neighbour). The Pre-ICO will be organized by our company in Estonia.
Our leadership, development, and business team will continue to operate out of Finland. This is a small deviation from our earlier plan, but this is the best approach against the current government regulations in Finland. Furthermore, we will continue to work with the Finnish authorities to explore possibilities and build an environment conducive for crypto licensed business in Finland. Like any other startup, we’d like to lead this bold vision.
The Fyfy Team already consists of successful professionals with technical, legal, marketing, and business experience. Most of our team members are based in Finland.
Fyfy transforms cross-border payments
Fyfy ecosystem is a decentralized, blockchain-based ecosystem. It offers quick, low-cost, user-friendly, and secure transactions of cryptocurrency assets. The ecosystem focuses heavily on solving issues of cross-border payments. The general idea is to implement a pay-per-use model only. There is a huge demand for a functional global payment system such as Fyfy Pay.
FYFY token is just the first step to get started, and our ambition is to build a highly functional ecosystem with different features. Fyfy’s vision is that most of the world’s population will use blockchain technologies while making their daily transactions. Fyfy ecosystem builds on Ethereum, used for its native token, and Solana, used for money transfer and payments between merchants and customers. We’re also researching different possibilities on how to utilize blockchain-based escrow mechanisms between merchants and customers.
FYFY Token works in the Ethereum blockchain. First, it acts as a governance token. Thus, holders of the token can influence the decisions of the future development of the ecosystem. In addition, staking and farming mechanisms are included. FYFY Tokens decrease the transaction costs of peer-to-peer (P2P) payments inside the ecosystem. In the future, Fyfy Utility Token may grant access to additional products or services of the ecosystem.
There are four key participants in the Fyfy ecosystem: investors, businesses, developers, and customers. All participants are necessary and equally essential in maintaining balance and accountability in the Fyfy ecosystem.
The future outlook of the Fyfy ecosystem
We value customer trust and customer requirements. We acknowledge that customer education and support are some of the bottlenecks of the cryptocurrency industry, and many people are not yet familiar with blockchain technology or applications.
Therefore, we want to ensure that our products and services are user-friendly and associated with clear instructions and transparent communication. In addition, emphasis is put on educating people through our own Fyfy Academy, and changes are made according to customer feedback.
Fyfy Academy is a platform where the Fyfy Team and specialized professionals educate people with free and paid content. The purpose of Fyfy Academy is to instruct the community on the use of Fyfy applications, such as Fyfy Wallet and Fyfy Pay, and on how to swap and how to stake FYFY.
Furthermore, through Fyfy Academy we will organize social events and promote transparency. Finally, Fyfy Academy offers different YouTube content, such as instructional videos about a variety of crypto topics, panel discussions, interviews, and beginner and professional level courses.
Fyfy’s market strategy and future outlook can be divided into three main phases. Directly after FYFY token launch, different Decentralized Applications (dApps) of the Fyfy ecosystem are going to be created by the year 2025. In the first phase, we will launch Fyfy Wallet, meant for sending and receiving cryptocurrency assets.
In addition, Fyfy Pay, an interoperable web plugin or browser that allows instant, safe, and low-cost transfers between Fyfy Wallets, is launched. Furthermore, listing into popular DEXs takes place in the early stage. Finally, in this first phase, we are also launching Fyfy Academy.
White Paper and Pre-ICO website launch
The White Paper will be published together with our Pre-ICO platform website on July 24. The platform’s purpose is to provide essential investor information and keep investors updated about the Team, White Paper, Legal framework, and upcoming Pre-ICO. This website is for informational purposes only, so you cannot invest in FYFY tokens at the moment.
There will be a Pre-ICO Launchpad through which tokens are purchased. The planned timeline for opening PRE-ICO is on September 1, 2021. Therefore, if there are any tokens available for purchase at the moment, they are all scams. We will give you clear instructions about the Pre-ICO event and when and how it is possible to invest FYFY tokens in our upcoming blogs.
We also want our community to understand the risks and stay safe. We ask you to keep in mind that investing in cryptocurrencies means investing in highly volatile and risky assets. Fyfy Team is committed to development according to our plans, and we intend to communicate transparently with our community.
Furthermore, as the crypto industry evolves rapidly, the future plans of this project can be subject to changes. Eventually, all development decisions are subjected to the community voting and staking systems via the Fyfy Token. However, before the voting system is functional, we will inform our community if any significant changes are being made.
We’re on a long journey and one step closer to the bold vision. The Fyfy Team is excited to announce that the White Paper will be launched on Saturday July 24, together with the new Pre-ICO website! Follow our social media channels for more updates!
Jenna / Fyfy.io