【FNCT101 ①】What is FNCT?

In February 2023, Financie, Inc. published the FNCT (Financie Token) whitepaper.

However, the whitepaper is quite long and is somewhat dry and academic, so in this article we would like to briefly summarize.

FNCT is a crypto asset

FNCT is a crypto asset issued on the Ethereum blockchain network.

It also can be bridged (transferred) to the Polygon blockchain network as well.

Polygon is a blockchain network in which people can make transactions cheaper and faster than Ethereum.

Thus, FNCT is a crypto asset which circulates on two blockchain networks, Ethereum and Polygon.

The purpose of FNCT

FNCT is developed to support the growth of FiNANCiE, a token-issuing crowdfunding service. FNCT is a way to give back to owners and supporters in the service, which in turn accelerates further growth and creates a virtuous cycle, and will enhance the cycle of FiNANCiE growth.

In other words, “FiNANCiE is grown by the power of its users and will return its growth back to all the users”.

The more FiNANCiE can grow, the more benefits flow back to the users. This cycle accelerates Financie’s growth.

(Note: Financie also needs earnings to support running the ecosystem, so not ALL growth will be returned back to users ^^;)

The difference between FNCT and CT (Community Token)

CT (Community Tokens) are a digital item which can be purchased in FiNANCiE app and are issued by sports teams and creators. CT is completely different from FNCT.

• FNCT is a crypto asset but CT is a digital item.
• FNCT is a token for the entire FiNANCiE platform. CT is a token issued by each community on the FiNANCiE app.

The difference between FNCT and FiNANCiE points

FiNANCiE points are digital items which are consumed only to purchase CT (Community Tokens) in the FiNANCiE app. On the other hand, FNCT is a crypto asset, so that it can be tradable on exchanges, and storable in crypto asset wallets.