FRED stands for Funding Research into Energy Devices; it is a UK-based blockchain project that focuses its operations around the idea of incorporating blockchain and cryptocurrencies into several environmental initiatives related to the promotion of green energy and related physical products.
The company emerged in 2018; by that time, the team had already created a proprietary blockchain, on the foundation of the Ethereum one, which was powered by a mineable cryptocurrency. Although a year later, they decided to make a switch to the Stellar blockchain that has a number of advantages over Ethereum, most notably a significantly less energy-consuming consensus mechanism, far better scalability, and transaction speed. In addition, Stellar smart contracts are more protected and comprehensible.
Along with technological adjustments, FRED had also initiated a token swap where the old ERC-20 FREDEnergy coins were exchanged for the FRED Energy tokens (FRED) of the Stellar standard. A total of 48,4 million FRED tokens, out of the total supply of 808 million, are to emerge as the result of the swap, whereas 460,5 million will be distributed during the sale.
The FRED Project has two overarching goals: to become the best-regarded company for promoting the use of green energy; to launch a blockchain-enabled marketplace for alternative energy and physical products that has the FRED token as its lifeblood.
The team has already rolled out a demo version of the marketplace, which features a number of energy-saving products provided by the partners, such as LED bulbs, EV chargers, solar panels, and electric tuk-tuks (three-wheeled vehicles commonly used as cabs). The merchandise of FRED's own production is promised to be added at the later stages of project development. Another purpose of the marketplace is to facilitate the adoption of cryptocurrencies, the FRED token in particular, by implementing them as the primary means of payment and allocation of consumer rewards. According to the projections, in four years' time, the net return generated by the marketplace would amount to $590 thousand, which constitutes a 2007% growth, compared with that of the first year.
The project is also working on the further development of the prototype device that serves as a portable generator and storage of electricity from solar energy. It can be used during different outdoor activities as well as an emergency power bank. The gadget is already functional, though FRED requires additional funding to finalize the exterior design, run the necessary testing, and organize a marketing campaign. Some extra funding would also be required for further research of the off-grid devices.
The FRED Project conducts the token sale of two launchpads, the first one being their own platform - the second one is the Finexbox. The one that takes place on the FRED platform is now live, with Round 1 ending on January 30. The overall token sale will end on May 29. The current price of 1 FRED is $0.005, with the minimum investment threshold being only $5. The softcap is $120,000, which is more than feasible, whereas hardcap is $2,3 million. Tokens can be purchased with BTC, ETH, LTC, XLM, TRX, XRP, BCH, BNB, and DASH. The list of restricted areas features the United States, China, and North Korea.
| Industry | Energy |
|---|---|
| Platform | Stellar |
| Founded | 2019 |
| Website | https://token-sale.fredenergy.org/ |
| Whitepaper | Yes |
| Countries | UK |
| Start | June 29, 2019 |
|---|---|
| End | May 29, 2020 |
| 130 days left | |
| Token | FRED |
| Soft cap | $120 000 |
| Hard cap | $2 300 000 |
| Minimum investment | $10 |
| Tokens for sale | 460560000 |
| Accepting | XLM, ETH, BTC, LTC, BCH, TRX, XRP, BNB |
FRED is undoubtedly a blockchain project that holds a lot of potential, though they seem to be a bit negligent about the publicity, because I have bumped into it by pure accident, despite being an ICO geek. Nevertheless, they can catch up with the marketing later, after the conclusion of the token sale, which should be successful, given the low softcap.
Milan January 15, 2020 Reply
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