FriendsFingers

Starting Crowdsale

Users that want to start a crowdsale on FriendsFingers must only fill a form with all informations needed to start it like the project name, the crowdsale goal and target, the crowdsale deadlines, the name of the token to issue, the tokens rate per ETH, the Ethereum wallet address where funds will be collected and some others informations regarding crowdsale official links and Whitepaper.
They can also choose an amount of tokens to be issued for crowdsale creators at the beginning of the crowdsale.
After the crowdsale end no more tokens can be issued.

The unique requirement users must have to start their crowdsale is an Ethereum wallet address with a small ETH balance to pay the Gas fee (Note that Gas fee is not for FriendsFingers but it serves only to pay miners that will include your transaction in the blockchain).

After the creation process creators will receive a public link for their crowdsale so they can share it on their promotion channels.

In order to avoid any fraudulent attempt, our team reserves the right to review both already started crowdsales content and crowdsales team members, eventually stopping the crowdsale. The right to approve or disapprove crowdsales which show an unclear project or team will be also exercised by our token holders within the near future. Stopped campaigns might be restarted if team members of those will present a reasonable documentation supporting the genuinity of their project, which will be always evaluated by our team and our tokens holders.

Entering the Crowdsale

To enter the crowdsale, investors should go in previous generated page where they will find any informations regarding the project as inserted before.

Participants willing to support crowdsale can do so by sending Ether currency through FriendsFingers platform or by sending Ether to the designated address using their preferred Ethereum wallet. By doing so, they are purchasing crowdsale's token at the rate creator has chosen before which are sent instantly to their wallet.

Token will be transferable only when the crowdsale is over to avoid to see them on secondary market before than crowdsale end.

Everyone can even verify his transaction and see the received tokens exploring the blockchain (for instance using Etherscan) or through FriendsFingers platform itself.

Closing the Crowdsale

At the end of the crowdsale, creators can choose to restart another round with lower rate per ETH for a max of 5 times, or they can decide to close the crowdsale.

The later rounds will have a goal of 0 (zero) ETH because of we suppose that they reached their goal in the first round and they are only issuing other tokens at a lower rate (they can't set a rate greater than previous rounds as written in the Smart Contract).

When creators close the crowdsale the token ownership will be transferred to them, so they will have any rights to make actions on it.

When each round of the crowdsale ends, if it reaches the goal, funds will be immediately transferred to the creator designed wallet except a little fee of the raised amount which will go to FriendsFingers wallet. FriendsFingers will also take a percent of each round max token supply to help creators with token distribution. Starting fee is 5% and it should be only decreased in time according to the Smart Contract. Creators can also receive discount on fees as expressed below in Shaka Token description.

If crowdsale doesn’t reach the goal, investors can easily claim their funds back and creators don’t have to pay any fee to FriendsFingers. Creators can't be able to restart a crowdsale if it ended under the goal.

According to the Smart Contract, if some investors don’t claim their refunds a year after the crowdsale end, these can be transferred to FriendsFingers wallet and used for platform development or for any other purpose decided by a public vote as expressed below in Token description.

Some details about the tokens

Technically the token creators are issuing is a "mintable", "burnable" ERC20 token and at the end of the crowdsale the finish minting function will be called by the Smart Contract by blocking the total circulating supply. It means that tokens can be created only during the crowdsale and nobody can create an additional amount of tokens after the crowdsale end. This increases the confidence of investors ensuring them that creators can't be malicious or undervalue token price by generating more tokens than they have declared before.