Foleum

Foleum

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Created using Figma

Last Update

Jun 24, 2018

FOLEUM is a community-based GREEN blockchain mining project designed to allow individuals to support and participate in blockchain mining that is ecologically sustainable and profitable for the community. The project is very essential as power availability is a key factor in the crypto mining. The easy provision of GREEN power through the utilization of wind and solar technologies which are ecologically friendly make the projects viable.
Risk: Very High
Pre-Sale
May 28, 2018
Jul 12, 2018
100% completed
Raised funds - no Data
Goal 2 400 000.00 USD
Cap 2 400 000.00 USD
past
  • 1 FOL
    =
    0.15 USD
Token Details
Ticker
FOL
Additional Details
Platform
Ethereum

About Foleum

Bitcoin and other Blockchain technology are revolutionising the world as we know it, but unfortunately there are some inherent setbacks. The amount of energy it takes to power the network is staggering and has a huge environmental impact using traditional energy sources.

The Foleum project is proud to be part of the solution by creating the majority of our own GREEN power to run our mining data centers. Using our own power will also greatly reduces operational costs making it more profitable than other traditionally-powered mining operations while helping to reduce the blockchain carbon footprint on the planet.

Features

(FOL) Foleum mining crystals is an Ethereum security token, representing the right to profit-sharing from the mining proceeds of the Foleum project.

 

The FOL crystal holders will get up to 60% of the Project’s blockchain mining profits paid out daily in the cryptocurrencies mined by the Project which may include: ETH, BTC, ZEC and others. The remainder of the profit will be reinvested into the Foleum Project to expand its datacenter’s capacity and renew the existing hardware.

Technical Info

</Description of the Initial Crystal Offering>

The FOL Crystal (token) is classified as a security under U.S. securities laws and as a result the ICO will be restricted to certain types of investors in order to comply with U.S. securities laws.

 

FOL Crystals (tokens) will be offered in 6 different stages, each with a different number of tokens, price point and investor restrictions.

 

Minimum Purchase Amounts: Pre-Sale, $30,000.00, Early Adopter Stage 1 Sale, $25,000.00, Early Adopter Stage 2 Sale, $20,000.00, and Early Adopter Stage 3 Sale, $12,000.00. Lot 1 and Lot 2 will have $100 minimum purchase.

 

To comply with U.S. securities laws, the first four sale stages, the Pre-sale, and the Early Adopter Sale: Stage 1, Stage 2, Stage 3, will be restricted to U.S. accredited investors only and sold pursuant to such investors pursuant to a Simple Agreement for Future Tokens pursuant to Regulation D, Rule 506(c) of the U.S. Securities Act of 1933, as amended (the “Securities Act”). During these first four sale stages sales to investors outside the United States will be limited to only non-U.S. persons as defined under Regulation S of the Securities Act.

 

Rule 506(c) defines an “accredited investor” as:

  • an individual with a net worth of at least $1 million, not including the value of his or her primary residence
  • an individual with income exceeding $200,000 in each of the two most recent calendar years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year, or
  • a trust with assets of at least $5 million, not formed only to acquire the securities offered, and whose purchases are directed by a person who meets the legal standard of having sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of the prospective investment
  • a bank, insurance company, registered investment company, business development company, or small business investment company
  • an employee benefit plan (within the meaning of the U.S. Employee Retirement Income Security Act) if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million
  • a tax exempt charitable organization, corporation or partnership with assets in excess of $5 million
  • a director, executive officer, or general partner of the company selling the securities
  • an enterprise in which all the equity owners are accredited investors

 

Upon the SEC approval the Reg A+ offering (Mini-IPO) of FOL crystals, U.S. non-accredited investors will be allowed to participate in the Public Crystal Sale: Lot 1 and Lot 2. However, additional limitations apply on the amount of money a non- accredited investor may invest.

  • 10% of the greater of annual income or net worth (for natural persons);or
  • 10% of the greater of annual revenue, or net assets at fiscal year-end (for non-natural persons).

 

The investor restrictions contradict the idea of giving everyone a fair chance to get involved in the GREEN mining project. However, we have to comply with securities laws and regulations. This is why we’re already working hard preparing for the Regulation A+ Mini-IPO (Initial Public Offering) which would open participation in the project up to the public!

 

Non-Sale Token Allocations during the ICO include:

10% is for the team, 4% as a project reserve, 3% for marketing, 1% for advisors, 1% for the Foleum mining reserve fund, and 1% for charity staking

 

The unsold crystals will be burned following completion of the ICO/ IPO.

Foleum Roadmap

  • Q2 2017

  • Foleum Conceived
    Searched for facility location
  • Q3 2017

  • Found suitable land 30+ acres
    Started engineering assessment of land
  • Q4 2017

  • First Strategic partner with WindStream for green energy
  • Q1 2018

  • Second Strategic partner with NetObjex
    Started website and marketing development
  • Read More
  • Q2 2018

  • Website online
    Launched Initial Crystal Offering (ICO)
    Start prepping land for construction (less than 5% tree removal)
  • Q3 2018

  • Start data center construction
    Start green energy construction
  • Q4 2018

  • Start building and installation mining rigs
    Start selling mining rigs online
  • Q1 2019

  • Data center operational
    Phase I of green energy powered on

Activity

Activity:
160
MEDIUM
Posts:
1 023
VERY HIGH
Views:
9 300
HIGH
Posts:
50
LOW
Followers:
1 754
LOW
Likes:
1 768
LOW
Rating:
5
VERY HIGH
Followers:
1 808
LOW
Tweets:
50
LOW
30 Days Growth:
-9
Members:
293
VERY LOW
30 Days Growth:
-26

Foleum Team

Verified 89%

Attention. There is a risk that unverified members are not actually members of the team

Rahdi Fakhoury
Founder & CEO
verified
Karem Fakhoury
CBO
verified
Nicholas Ward
CTO
verified
Robin Dean
CFO
verified
David Ward
Chief Architect
verified
David Miller
Lead Engineer
verified
Muhammad Sumair
Blockchain Software Developer
unverified
Joshua Way
Marketing/PR
verified
Jc Crown
Business Development
verified

Advisors

Verified 67%

Attention. There is a risk that unverified members are not actually members of the team

Aaron Wu
Regulatory Affairs Advisor
verified
Stephen Hyduchak
Marketing and ICO Advisor
unverified
Wilson Espinoza
Civil Engineering Advisor
unverified

2 ICO

$6 205 563

Amit Singh
Legal Advisor, Stradling Law
verified

5 ICO

$4 000 000

Raghuram Bala
Blockchain & AI Development Advisor
verified
David Whiting
Blockchain Business Development Advisor
verified

Foleum Interviews

Aaron Wu
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Eco-friendly blockchain mining operation
Rahdi Fakhoury
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Foleum is a community based project built on the dream of using GREEN technology in blockchain mining. We are committed to supporting the growth and operation of decentralized blockchain networks in the most environmentally friendly way possible while staying on the cutting edge of both blockchain mining and GREEN energy production. We also embrace the idea of being as decentralized as possible and rely on input from our community through dialog and community polls.
Karem Fakhoury
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I'm passionate about blockchain and Cryptocurrency technology. The core of Foleum, Mining for the masses, gives me great pleasure to be a part of implementing their deep vision to build an optimum GREEN mining facility.
Nicholas Ward
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I am the Chief Technology Officer in this project, overseeing the technical and security aspect. As one who understands the issues that come with power usage and the amount of hardware that is need to mine, it can be difficult and expensive. I think this project's idea enables those to get involved in blockchain who can't get involved otherwise.
Robin Dean
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Accounting, tax and reporting compliance. Love working with this team on a great project!
David Ward
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
building and green energy designer
David Miller
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Site development lead Engineer looking forward to getting design and construction completed
Joshua Way
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I believe that the Foleum project will be both groundbreaking and revolutionary in the blockchain mining space.
Jc Crown
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Jc is a business development strategist and blockchain enthusiast, with a wealth of experience connecting and networking with some of the brightest minds in the cryptocurrency space. An entrepreneurial and self-motivated team player, he has demonstrated talent for building relationships, influencing strategic partnerships, developing new sales channels, and using social media and viral marketing with remarkable effectiveness. One of this biggest passions is introducing and promoting new companies and assisting them with their start-ups. His enthusiasm for the space is based on an unshakable belief in the disruptive power of blockchain technology.
Amit Singh
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
...
Raghuram Bala
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I work on the Technical Aspects of the Foleum project. This is a unique and great use of distributed ledger technology.
David Whiting
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Event Marketing Advisor. Our events provide expert speakers take away heavy programming for morning and lunch speaker panels followed by afternoon one on one speed dating with ICO’s and Fund Managers. Our attendees are regularly a mix of 50% investor, 30% ICO’s and Fund managers seeking capital intros and 20% service providers/sponsors.
Comprehensive resources for blockchain enthusiasts.
www.cityblockchainsummit.com

Foleum Last News

2.25
negative
5.0 15
ICO Profile Vision Activity Potential Product Team

Foleum Reviews

Samson Owiti
Cryptotrader, Crypto investor, Blockchain business expert

FOLEUM is a community-based GREEN blockchain mining project designed to allow individuals to support and participate in blockchain mining that is ecologically sustainable and profitable for the community.

PROS:

  • The projects  has established its own hybrid wind and solar powered datacenters with blockchain capabilities  which reduces the operational cost making it more profitable than the traditionally-powered mining operations
  • The platform has built its own custom-made  energy efficient  GPU mining servers  which promote the most efficient  and profitable energy mining process
  • The platform’s FOL crystal token  enables the holders to receive special discounts on all the equipments purchased  and also get up to 60% of the profits paid out daily in other cryptocurrencies  mined  in the platform
  • The platform has an inevitable growth as its 40% reinvestment strategy  helps the project to grow faster
  • The platform generation of its own GREEN power by utilizing wind and solar technologies combined with highly energy-efficient geothermal cooling  ensures that the  electric power is readily available at reduced price for crypto mining
  • The platform has a good team on board with excellent  skills  and experience related to the demands of the project as the CEO Kahdi Fakhoury has successfully led and supported a number of blockchain  mining projects

CONS:

  • The platform white paper is less detailed
  • The  FOL crystal token value at the projects initial ICO stages is not highlighted
  • The platform token doesn’t incentivize its holders  by giving them rights over the platform decision making process

SUGGESTIONS:

  • The platform’s technical team should make the white paper more elaborate and in various languages to promote an extensive use of the project
  • The projected value of the FOL crystal  at the project’s initial  ICO stages should be highlighted to cast more light on its use

NOTE:

The project is very essential as power availability is a key factor in the crypto mining. The easy provision of GREEN power through the utilization of wind and solar technologies which are ecologically friendly make the projects viable and I would highly invest in it.

Read More
icorating.com
ICO review website

Strengths of the project:

  • Team is vastly experienced in mining and infrastructure.
  • The project operates in a market that shows high growth rates.
  • Users can invest and profit from green mining without spending any money purchasing contracts or equipment.
  • Tokens will become more profitable over time since 40% of the profits will be spent on growth.
  • 20% of all the tokens will also be bought back and burned, further increasing the value of the tokens over time.
  • Shares of the operation are in the form of a securitized token and regulated by the SEC, creating accountability.

Weaknesses of the project:

  • The project development strategy and marketing campaign are not presented.

MVP is not available.

Despite the fact that the crypto market demonstrates some instability, we note that market capitalization is currently growing. Currently (May 28, 2018), the capitalization of cryptocurrency is $15.3 billion. Bitcoin plays the main role in this market.

Read More
expert-coin.com
reviews

Project strong sides: interesting idea; analysis of mining rigs profitability; token usability as a kind of shares.

Project weak sides: lack of marketing strategy and analysis; absence of energy cost analysis and comparing with usual source.

So our position is neutral.

Read More
bitcoinexchangeguide.com
reviews

An overall verdict on FOLEUM would give credit to the exciting idea, mining rigs profitability and use of tokens as shares. However, FOLEUM still has plenty of weak sides, and as a cloud mining project, this is arguably a cause of alarm for investors. Therefore, the position on the Foleum remains neutral and it best not to invest in the venture.

Read More
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