FARAD cryptoken launches as the first digital currency to provide energy & telecoms


Farad Cryptoken program has just launched into the digital currency community. The digital currency was launched at The Ritz-Carlton, Dubai International Financial Centre.

Farad will be using the currency symbol: FRD.

According to the program originators, The main difference of Farad Cryptoken is that it is backed by real economic activity which is the production of Ultra-capacitors within actual factory settings.

Chairman & CEO of the FARAD Program; Dr. Wan M Hasni shared, “The FRD has strong economic fundamentals and is the first of its kind among the cryptocurrencies that are currently available in the market. Our aim is to allow cryptocurrency holders unique and safe access to the ultra-capacitor market by narrowing down their participation to the initial stage of the FARAD ultra-capacitor products manufacturing process. In order to achieve the aim above, the public will be offered an opportunity to hold the FRD.”

 He added that, “Funds raised from the ICO exercise will be used for purchasing of equipment, procure stock for raw material (metal oxides and carbon based materials), fund further intellectual property protections (patents) and Blockchain development of the manufacturing process, to cover marketing costs for the ultra-capacitor business as well as the marketing and promotion for the ICO”.
Farad said it will accept Bitcoin and Ethereum as approved digital currencies at the ICO.
The whitepaper for FARAD has also being released, you can read more about on it here.
  • The initial coin offering is slated for 25th of August, 2017. The company said funds raised at the ICO will be used to:
  • To acquire specialized machineries which will be imported from Taiwan, Italy and Germany.
  • To purchase and stockpile the metal oxides material needed for the production
  • To fund further intellectual property protection (patents), industrial development and collaboration.
  • To cover Blockchain developments for the manufacturing process and Supply Chain and Value Chain management for the UCs on Ethereum blockchain concepts.
  • To cover international marketing, ICO costs, financial costs, of the UC manufacturing, etc.

See below the launch plan:

Pre-ICO token swap

Pre-ICO token swap program which will be conducted over a maximum period of 21 days starting from 25 August 2017, 13:00 GMT till 14 September 2017, 23:59 GMT

ICO Swap

ICO Swap program will start from the closing of the Pre-ICO token swap program or over a maximum period of 14 days from 15 September 2017, 00:00 GMT till 30 September 2017, 23:59 GMT

ICO Swap Volume

1,280,000,000 FRD

Total Issue Volume

1,600,000,000 FRD

Distribution of FRD

For every 100 FRD swapped in this offering, 25 additional FRD will be issued and retained for sponsor, team members, partners and advisor

FRD Offer Index (Pre-ICO token swap)

0.0005921 ETH / 0.0000559 BTC

FRD Offer Index (ICO Swap)

0.0006579 ETH / 0.0000621 BTC

FRD Issue Date

7 days after the ICO closing date

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