FRED Energy – ICO Detailed Information

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.

Company information and technical specifications

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.

FRED’s primary goals

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 team

• Michael Josefsen. Founder & CEO. Holds a bachelor's degree in business information systems; worked as an engineer at HP Enterprise and a freelance business consultant.
• Philippe Delvinge. Creative Director & Community Manager. A certified graphic designer, former creative director at FiliGrif Studio.
• Armand Pers. IT director. Former IT manager at IEGS Sodermalm and co-founder of Rentapp.io.

The ICO details

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.

Author: Alex Paulson for Crypto-Rating.com

• Q3 2018. Our first cryptocurrency FREDEnergy (FRED) was forked from the highly developed TurtleCoin using CryptoNote technology at its core. FREDEnergy coin (FRED) will be swapped in Q3 2019 for our new custom token on the Stellar blockchain which has the same name and ticker FRED.
• Q2 2019. Token Sale exchanges to be announced. The old FREDEnergy blockchain has been made redundant and old coins removed from trading in preparation for the swap to the new token.
• Q3 2019. First token sales go live with further IEO's to be announced. Company formations and legal requirements completed. Coin swap complete
• Q4 2019. Markeplace vendor partnerships established. Continue development of FRED Energy prototype solar device
• Q1 2020. Our online alternative energy marketplace will go live. Review innovator partnerships and provide funding for development and patents.
• Q2 2020. Bring FRED Energy solar powered device to market. Full project review
• Q4 2020. Continue development of marketplace and expand vendor partnerships. Further development of energy generation devices