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.”
- 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