F24 is a reward tool that connects the interests of various participants in the Fiat24 ecosystem. We effectively align the interests of Fiat24 users with company shareholders, employees, and community participants.
In terms of technical implementation, F24 is a ERC20 token based on Ethereum technology.
All F24 tokens allocated to the users have no transfer restrictions. However, all F24 belonging to the team and treasury will be vesting over 4 years, with 6 months cliff.
The reward period ended at 23:59 CET on Thursday 30 June 2022. All Fiat24 users who used our services before that deadline can claim rewards.
User can easily find the F24 balance in the Fiat24 mobile DApp by clicking your user profile.
There is no any precondition for our users to have F24. However, the number of F24 owned by the user determines the quota that user can use some value-added services. For detail pricing terms, please refer our Pricing section.
The maximum supply of F24 is set at 100,000,000 units. It will be distributed as planned as follows: 50% is allocated to the Fiat24 early adopters and community; 30% is allocated to the company’s treasury, which will be used to raise fund or sponsor the next incentive plans; and another 20% is allocated to the founding team, company staffs and active promoters in the ecosystem.
We give 15% of the total supply to Fiat24 users during the reward period. Fiat24 users can check their reward quotas and claim them inside the Fiat24 client. Because it is an Ethereum transaction, you need to pay a small amount of Ether gas to complete the transaction.
Each account holder can get 500 F24, after the user mines a new Fiat24 NFT. The reward period ended at 00h00 CET on Thursday 30 June 2022.
We encourage early adopters to actively use our services and allocate F24 tokens as reward points for free. We currently do not sell any F24 tokens to users.
We introduce a mechanism to cover our future governance model and financial incentives, and aim to share a vision of alignment between various stakeholders within the Fiat24 ecosystem, and the F24 token as a core securing element of this mechanism. One key design goal of an effective governance model should be to balance various stakeholders’ emphasis on behavioral incentives and their welfare, while prioritizing more recent focus on governance minimization and automation. The goal of the F24, through its incentives and policies, is to create an inherent governance & incentive system where the Fiat24’s growth, sustainability and safety take priority over individual stakeholder objectives.