The most awaited AZ Token public sale is going to start from the upcoming 1st March. This sale will enable the prospective investors to take advantage of a transparent blockchain enabled ROCSA (Money Circle) and Crowdfunding offered by the FundChain Application.
AZ backs the ground-breaking FundChain Platform that injects the power of Blockchain to the prevalent ROSCA method of community-based saving and borrowing. The AZ tokens are Ethereum’s popular chain ERC-20 based and non-inflationary in nature. The Tokens come with a limited Supply of 30 million in order to ensure quality over quantity.
The first and foremost utility of the AZ tokens will be towards paying the fee on the platform. This fee is fixed at 1% against every withdrawal made on the money circle offered at the platform. Revenues made from this fee collection will be directly used during AZ token buyback program which stands at 4/5th of the total revenue collected over the period.
AZ tokens provide users to leverage Ethereum or USDC based money circles. From here onwards the smart contract will move the funds to another contract with periodic buyback features. Users and Investors both can take join this buyback through OMO (open market operations). All they are required to do is sending their AZ tokens to a Stability fund smart contract. The buyback program will take place on a given date at a standard price of USD 1 for every token bought.
The tokens stacked through buyback program on FundChain will be unlocked on an announced date within 1 year of the purchase.
The Total Token Supply for public sale sits at 9,000,000 tokens. The Token can be purchased through two ways, Private Sale and Public Sale. The Private Sale is already on since January 2019 while the Public Sale will begin on the 1st March 2019 and will continue for the next 30 days from the date of beginning. Unlike the Private Sale, there will be no bonus structure for investors in public sale.
The 9 million tokens fixed for Public Sale will be available at a price of 0.63 $. Additionally, the minimum amount (to be invested) to purchase tokens must be at least USD 10
Mode of Investment
Interested people will be given two choices for participating in the Public Sale. The first method allows them to go with the cryptocurrencies route with popular alternatives like ETH and BTC. The second mode enables them to choose the Fiat option.
Residents of the US and Mainland China are not allowed to participate in this token sale.
Use of the Raised Funds
At FundChain we put transparency on the Top and that’s why the investors have full right to know where their hard-earned money is being spent. The funds raised through the various Token sale stages will be allotted to different purposes like Development and improvement of the platform, Legal and financial costs, various product marketing methods, Operational costs and also a substantial Contingency fund.
In Asian countries like China and India, money circles are a very popular method of saving and growing their investments together. It’s an effective vehicle offering P2P banking and/or lending method and averting the need for any third-party services. Money Circles or ROSCA (Rotating savings and credit association) is an establishment enabling a definite number of people to take benefit of crowdfunding over a fixed time. With this facility, people with small investments can enable themselves to not only save but also borrow together.
ROCSA is mostly operated through private circles where most of the participant have little to no knowledge about the organizer. FundChain improves this blind run. It spices up the whole money circle mechanism with a pinch of social aspects where the users will be evaluated at par their reputation (with the help of feedback and his/her background). In fact, FundChain is a complete package of an accessible, transparent and trustworthy crowdfunding application with the backing of a cutting edge blockchain technology. A friendly and easy to use UI gives rise to transparency between the users. For Business owners, FundChain brings an exciting opportunity where they can leverage the contributions made by household investors for mutual benefits.