The purpose of this report is to share updates related to The Freedom Coin (TFC) project to the TFC Initial Coin Offering (ICO) participants.
The cryptocurrency domain has been relatively flat over the last few months at one-seventh of the highest market cap. However cryptocurrency as a concept is here is to stay due to its ability to solve many real-world problems. In the current market conditions, and as seen in various other ICO initiatives, patience is the only option for participants to prevent loss and capitalise on future opportunities when the market turns.
The Freedom Coin ICO was launched during the same time that the price market cap decreased from one third in launch time from over 600 Billion to just over R 100 Billion were it currently sits. Various Value Added Products and Services (VAPS) were initiated as per our roadmap.
Due to the current market conditions, investment in other ICOs has become too risky and therefore as per our governance the project has delayed entering or participating in any other ICOs to prevent loss of capital.
The trading portfolio is still active (refer to the attached spreadsheet of all trades no withdrawals). No withdrawals have been made due to the market performance and again to safeguard the capital of the TFC participants. When the markets turn it will enable the open position trades to close and the trading portfolio will reflect profit. The TFC project has now become a long term strategy as dictated by the markets. This is a reality in many ICOs and new ventures and not grounds to discard the effort of the project to date.
Funds for other investments are available and three opportunities have been reviewed. These are non-crypto related initiatives as per the TFC White paper in order to hedge against the movement (up and down)in the current crypto market.
1. South African Airtime Agency
This unique solution pays a 10% commission to resellers of airtime in comparison to the current commissions which range between 2,5% – 7,5%. Further the pricing of this initiative is attractive where a minute of airtime across all networks is 0,8 cents per minute in comparison to the current price of R 1,20 per minute. The end user benefits by receiving 0,5 times more mobile airtime for the same amount spent.
2. Car Rental Solution
This solution has been developed to by the administration company to allow car dealerships to rent out vehicles on their dealership floor that have not been selling, to people whom cannot purchase vehicles. The model is very profitable to dealerships.
3. Online Aggregator for Value Added Insurance Products
This Company is disrupting the VAPS Market by discounting products up to 32% by selling directly to the end user. An example is extended warrantees on new vehicles. Currently the vehicle owner purchases an extended warranty for approximately R 10 000. This amount is financed as part of the vehicle finance. The new solution enables the vehicle owner to purchase the exact same product on a portal for approximately R 6800.
Although the market is currently slow the project is still active and working at positioning TFC for when circumstances do change. It is imperative that care should be applied in decision making.
The TFC launch was below expectations and due to the shortfall in funds raised during the launch it necessitated the minimisation of overhead expenses (salaries, development costs, marketing etc.). This was part of the risk plan of the project however the realisation of multiple risks (adoption, trading performance, market cap) had significant financial implications and required mitigation action.
Cryptocurrency solves real-world problems and the TFC team is committed to position the project to capitalise on future opportunities in a responsible manner.