I believe tokens that are issued by a company or individual and then airdropped onto a list of people violates the current security laws (Aside from being easy to cheat by issuers giving out tokens to friends and banning people from the lists) and will eventually be shut down. By creating a smart contract running on the EOS blockchain, FOMO can only ever be created via the signup function written into the code. There is no premine (This public announcement was issued before the first claim) and everyone has a fair chance to claim tokens every 24 hours until the rewards reach 0 via the halving mechanism built into the contract.
Because FOMO runs on the frictionless and practically free, EOS blockchain rather than another blockchain with extensive transaction fees (That go to miners which dump the token on the market), FOMO has enabled a flat 1% transfer fee coded into the smart contract that is destroyed each time FOMO is sent. This ensures long term deflation with an easy to understand fee and destroy structure which reduces current and max supply as coins are transferred or purchased on decentralized exchanges.
FOMO token is an EOS token designed to increase circulation by gamification through our FOMO faucet and decrease circulation through a 1% tx fee which is burnt.
- FOMO can only be created through the signup action. Every EOS accounts can claim FOMO once every 24 hours bringing new FOMO into circulation.
- Every time someone claims FOMO it is recorded on the blockchain and for every 1m total claims the reward halves.
- Each time a FOMO is transferred, 1% of the transaction is destroyed. FOMO has no decimal places and so any remaining percentage is rounded up to 1 and additionally destroyed.
The backend uses EOS multi index tables to keep track of when you claimed and the front end works with EOSIO UAL Authenticator allowing multiple options to sign in and use the claim button on site rather than having to claim from the ABI.
It also uses dfuse on the front-end to get the totals and such.
Signup and claim your free FOMO now at https://fomotoken.one
Ask any questions in this thread or on our telegram channel @fomotoken