Integrating Cryptocurrencies into Everyday Life: Falcon Project Review
Every year in the crypto space, hundreds of projects are launched to offer a particular service or solve some challenges experienced in the sector. In the area of decentralized finance (DeFi), platforms involved in derivatives, lending, yield-farming, and non-fungible asset creation have increasingly been launched in recent years, leading to the sector’s massive growth.
However, amidst the numerous crypto projects’ launch, many fail to integrate crypto use into everyday life and soon die out due to lack of usability. Falcon Project is a revolutionary project that provides a different outlook into the use of blockchain technology that allows individuals to integrate cryptos into their everyday lives. The project leverages a unique blockchain hybrid mechanism that involves two completely interchangeable blockchains allowing users to choose between speed and convenience or anonymity and privacy. Falcon Project presents a new dawn in the privacy and decentralized finance sector. Take a look.
The Falcon Project Explained
The Falcon Project is the first crypto project in the DeFi sector that runs on two blockchains simultaneously and integrates three interchangeable chains. The platform integrates an ERC-20 token, i.e., FNT, and its own private coin, i.e., FNC, to enable crypto enthusiasts to choose between privacy and complete anonymity or speed, storage, and convenience. FNT is an ERC-20 token and essentially the Falcon Project’s primary asset, while FNC is the platform’s native coin that offers a gateway to complete anonymity and privacy in the entire ecosystem.
Unlike FNT, which is listed on crypto exchanges and can be exchanged with other assets such as BTC and Ethereum, FNC is completely tied to the platform and cannot be swapped or traded via exchanges. FNC’s primary function is to enable Falcon Project’s users to conduct anonymous transactions between holders for increased privacy and anonymity. As such, FNC can be exchanged with FNT in the ratio of 1:1 then traded on exchanges.
In essence, the Falcon Project brings together the simplicity, speed, and convenience of an Ethereum-based token with the privacy of an anonymous blockchain through a 1-to-1 permanent swap form, where the value and liquidity of the anonymous coin are determined by the token. Both the FNT and FNC token can be integrated into everyday use to provide users with speed, convenience, anonymity, and privacy, all from a single platform.
In addition to the two chains, the platform adds a third chain- the NFT. The NFT are sort of vouchers that form the basis of Falcon Project’s unique reward system where users can receive dividends of up to 10% per quarter or 40% per year in FNT tokens.
The Falcon Project’s Team and History
The Falcon Project is a pretty new entrant in the crypto space. The platform was officially launched on February 2, 2020, with the first transaction of FNT tokens made to a multi-signature wallet. The project was developed by a group of blockchain enthusiasts looking to provide solutions to some of the most pressing issues in the crypto space. It’s an open project and managed by a team. The co-founders are Dmitriy, aka Lavrus, Ivan, Deadlinelogo, and Alex Good. Other team members are Vitaly, Shinobi, M K, and Sebi_one_Kenobi.
Why Two Blockchains?
The Falcon Project’s entire ecosystem is built on two blockchains and integrates three chains. But why did the developers choose this unique model? According to the founders, the idea of using two blockchains was to offer users the option of choosing between speed and convenience or privacy and anonymity when conducting crypto transactions. The project believes that everyone deserves a right to privacy by using coins that support hidden transactions and addresses.
Moreover, we are currently seeing a trend of delisting anonymous coins from the largest centralized exchanges, and using our approach, FNC will be at the forefront of privacy and other projects will follow our example.
By using two blockchains, Falcon Project offers several benefits, including:
- FNT, based on the Ethereum blockchain, offers simplicity and convenience, enabling users to integrate it into their daily lives. The token is listed on major crypto exchanges, including 1inch.exchange, Uniswap, WhiteBIT, and SouthXchange, and can be used to pay goods and services or exchanged with other cryptos such as BTC and LTC.
- FNC coin is entirely confined within the Falcon Project ecosystem and enables users to conduct transactions with an increased level of privacy and top-notch security. While it’s not listed on exchanges for security reasons, FNC can still be swapped with FNT in the ratio of 1:1 then traded on exchanges. You can swap FNC with FNT on the swap form on the platform’s website or the official telegram bot.
Outstanding Reward System — Proof of Hold (PoH).
The Falcon Project implements an outstanding reward system that implements Proof-of-Hold passive staking technology. The project’s PoH involves two types of tokens, i.e., FNT (ERC-20) and NFT tokens, which are essentially vouchers. Falcon Project vouchers are ERC-1155 ( NFT — non-fungible tokens) assets based on the Ethereum network and implemented via Enjin’s development. The Falcon Project vouchers are available in 6 denominations: 500 thousand, 1 million, 2 million, 5 million, 10 million and 50 million, with the issuance, capped at 5 billion tokens representing 33% of the total initial issue of the FNT tokens. The platform will increase FNT tokens’ allocation to the voucher freeze fund if there’s additional demand in the coming years.
The tokens can actively be exchanged. To earn rewards, users need to exchange a minimum of 500 thousand FNT tokens (or a multiple, i.e., 1M, 2M, 5M, 10M, or 50M) with an equivalent amount of Vouchers (NFT) they want to freeze and earn a profit of 10% every quarter or 40% per year.
To earn rewards, the vouchers must be held for a minimum of 92 days. The platform employs software with a “hold” days counter function to ensure the vouchers are held for the specified time. The software also automatically dispatched payment of dividends to voucher holders’ ETH addresses.
The Falcon Project’s unique reward system employing PoH presents a hassle-free and secure means of earning passive income in the DeFi sector. By achieving returns of 40% per annum, it doesn’t get any better earning passive income.
NFT Collectibles — Proof of Ownership
Falcon Project also features its own ERC-1155 (NFT) commemorative cards that can be distributed by airdrops. These collectibles are designed for the gaming industry and implement Proof-of-Ownership — a new means of using blockchain technology to verify ownership of property or items. The platform is also in the process of launching a Silver Souvenir Coin, which will have two different relief faces that will represent the variability and immense possibilities of the project. Read more about the coin here.
The Falcon Project is the first of a kind platform to integrate two blockchains simultaneously to offer crypto enthusiasts with 3 substitutable and complementary products: a convenient FNT token, a private FNC coin, and a high-yield NFT voucher. Built on the principle of “the simpler, the simpler” the platform seeks to provide users with the power to choose between privacy and anonymity or speed, simplicity, and convenience when making crypto transactions. Besides, users can be able to hold their tokens and earn lucrative profits. With less than a year in existence, the platform is already causing ripples in the crypto sector. It has implemented numerous exciting things, including an anonymous coin tokenization system and a unique kind of airdrop. As we advance, the project will surely live up to its immense potential and integrate cryptos into our daily lives.
Originally published at https://www.mycointainer.com on January 24, 2021.