The Friend is a decentralized blockchain based open source platform that enables users (developers) to segregate their apps from technology data back.
|Description||The Friend is a decentralized blockchain based open source platform that enables users (developers) to segregate their apps from technology data back.|
|White Paper URL||https://friendup.cloud/crowdfunding/whitepaper/|
|ICO Launch||2018/04/16 13:45|
|ICO Closing||2018/05/16 05:00|
|Token Platform||ETH (ERC20)|
|Coin Price||1 ETH= 20,000 FNT.|
|Funding Target||25000 ETH|
|Funding Cap||75000 ETH|
|Coins Offered||82% of the total token supply|
What Is Friend?
The Friend is a decentralized blockchain based open source platform that enables users (developers) to segregate their apps from technology data back. The platform intends to empower developers so they can integrate and deploy on Ethereum and various other decentralized technologies at Friend Network. The platform provides quick, secure, and global access to Friend Cloud Computers virtually that augment, simplify, and enhance the usage of the blockchain network for everybody having internet connectivity. Using Friend Cloud computer, the deployments and distribution of decentralized applications can be done in a matter of seconds.
The Friend is a blockchain based decentralized cloud computing platform that envisions borderless computing. The platform focuses to bring innovation in the world of cloud computing by incorporating the operating system over the internet via blockchain technology. This enables users to enjoy the freedom of cloud computing without having to worry about the limitations concerning software and hardware. The platform seems committed to set forth a digital highway of distribution, access, and deployment.
How Does Friend Work?
The Friend Network is composed of decentralized blockchain based Friend cores or kernel nodes. The cores are used to process request of applications in grids. This enables applications to run on nodes oriented network and allow users from all across the globe to enjoy quick access and instant response time on nearby servers. The platform strives hard to protect the confidential information of its users by encrypting it with blockchain technology and for that, it takes every possible action so the user’s interest may not get compromised. When an application is deployed on the Friend network, it is made available throughout the world immediately using blockchain technology for the transportation of your business logic and files. It also eliminates the need for a middleman and enables developers to monetize their apps without involving third parties.
Earn Friend Tokens
People can earn Friend tokens by participating in the pre-sale of the ICO which is live now. The pre-sale of the ICO is likely to last until April 15th, 2018. Therefore, people who wish to earn friend tokens need to get registered on the official website of the ICO. As per the information available on the website of the ICO, the platform clearly indicates that all applications received during the pre-sale phase will be handpicked. Only successful participants will be able to contribute to the token sale of the ICO. By participating in the pre-sale of the ICO people not only earn friend tokens but can also receive a bonus of up to 20%.
Buy Friend Tokens with E-Wallets
People who wish to buy Friend tokens need to send Ethers to the platform to buy Friend tokens. All Friend tokens distribution will follow up the next week after the ICO ends. People who do not have e-wallets need to open one since it is mandatory to have e-wallet in order to buy friend tokens. Why is it so? Because Friend platform is based on ERC20 standard tokens. They are supposed to be same as that of digital currencies and are stored in e-wallets. Make sure that you open an e-wallet with a legitimate company before you buy friend tokens.
The ICO Distribution
The ICO plans to launch its token sale on April 16th, 2018. The ICO is expected to last for about a month. It will end its token sale on May 16th, 2018. There will be a total token supply of almost 15 Million FNT. The soft capping of the ICO is defined as 25000 ETH whereas the hard capping of the ICO is set as 75000 ETH. The starting price of the ICO token is expected to be 1 ETH= 20,000 FNT.
The ICO plans to distribute its tokens under the following proportion;
- 6% tokens are planned to be distributed to the Friend Team which is around 120,000,000 FNT
- 12% tokens are planned to be distributed to the Friend Network which equates to approx. 240,000,000 FNT
- 82% tokens are distributed to TGE which totals up to 1,640,000,000 FNT
Funds Allocation (100%)
The ICO plans to allocate funds generated through the ICO under following proportion;
- 5% funds are planned to be allocated to meet Contingencies
- 10% funds are planned to be allocated as Complementary finance
- 8% funds are planned to be allocated to Marketing Department of the ICO
- 8% funds are planned to be allocated to the Contractors
- 13% funds are planned to be allocated to meet Office and Indirect Expenses
- 44% funds are planned to be distributed to the team of the ICO
The ICO also plans to offer bonuses to its early contributors under the following pattern;
- Up to 20% will be offered to the public contributing in the pre-sale phase of the ICO
- 15% bonus tokens will be offered to the investors helping the ICO to raise first 25000 ETH
- 10% bonus token will be offered to those who will contribute to the ICO helping it to raise first 50000 ETH
The ICO has following team members;
- Hogne Titlestad is the Founder of the Company
- Arne Peder Blix is the CEO and Founder of the Company
- Thomas Wollburg is the Lead Technology Officer at Friend
- Jolanda Engelvaart is the Head Financial Officer and Chairman at Friend
- Paul Lassa is the Head Product Officer at Friend
- Pawel Stefanski is the Software Engineer at Friend
- Francois Lionet is the lead Software Engineer at Friend
- Espen Olsen is another Software Engineer at Friend
- Chris Andre Strømland is also a Software Engineer at Friend
- Artur Langner is the Systems Engineer at Friend
- David Pleasance looks after International sales and marketing at Friend
- Colin Proudfoot is the Financial Advisor to the Company
Invest In Friend
After a careful review of the ICO, we hereby conclude that Friend is working well its way to being successful but it needs to come up with a more disciplined strategy to raise funding. This is because the ICO failed to launch its token sale as per the initial plan. Other aspects of the ICO sounds appealing. The objective of the ICO is a little complicated but workable. We believe by making right adjustment, the ICO will do well. We suggest people should invest in the ICO but after conducting some basic research about the prospect of the ICO.