Funtracker.site Foundation equity shares ICO
Funtracker.site offers equity shares to help build and finance growth in the funtracker.site franchise.
What is Funtracker.site Foundation
Funtracker.site Bank is a group of stellar.org anchors, a franchise that deals and distributes in THB, USD, BTC, ETH, XLM and soon many other assets all over the world. The assets distributed in the franchise are backed by multi signature locked crypto assets that provide insurance in the event of sectional failures in asset distribution collection. See https://funtracker.site for details of what we do and all the services we provide.
Funtracker.site Bank promotion video:
Funtracker.site Foundation is the first organization known that uses the internal trading system that is built into https://Stellar.org network that is an uncentralized asset trading system, to distribute and exchange equity shares in the Funtracker.site Foundation. The shares trade under the stellar.org asset symbol FUNT with the issuer bank*funtracker.site on the https://stellar.org Network.
How to purchase and trade FUNT
To trade FUNT you can use any of the many stellar trading tools including our own branch of stellarterm: https://www.funtracker.site/stellarterm/#exchange/FUNT-GBUYUAI75XXWDZEKLY66CFYKQPET5JR4EENXZBUZ3YXZ7DS56Z4OKOFU/XLM-native it's also traded directly with the THB asset under https://www.funtracker.site/stellarterm/#exchange/FUNT-GBUYUAI75XXWDZEKLY66CFYKQPET5JR4EENXZBUZ3YXZ7DS56Z4OKOFU/THB-GBUYUAI75XXWDZEKLY66CFYKQPET5JR4EENXZBUZ3YXZ7DS56Z4OKOFU. You can also view the stellar.org order book price history from our chart services: http://www.funtracker.site/chart/chart.html?json=%7b%22asset_code%22:%22XLM%22,%22base_code%22:%22FUNT%22%7d
On other trading platforms we are seen as the asset FUNT with issuer GBUYUAI75XXWDZEKLY66CFYKQPET5JR4EENXZBUZ3YXZ7DS56Z4OKOFU or with the standard federation address of bank*funtracker.site
Our records now show (and can be seen in the stellar.org ledgers) that we have been trading FUNT since some time before October 2016 and we have had limited distribution of some shares before Aug 26 2016.
What are the advantages of trading on stellar.org network
This method of using stellar.org net as our point of sale for our equity asset has a few advantages for you as stock holders and us. The fact that it costs us and anyone else who buys, sells and trades them almost nothing in fees to transact of any kind. We also plan to include in direct purchases of funtracker.site equities of more than 100 shares, with at least 31 XLM Lumens to allow you 100,000's of free trades of your assets without any costs to you.
Stellar asset transactions are fully uncentralized and unregulated by any governments and all transaction are also transparent so can be seen by all. This transparency seen in the funtracker.site equity distribution will also be reflected in all other transactions done from within our Funtracker.site Foundation. This will make it easy to audit as all that is needed is for our bank accounts and asset holdings to be shown to match the funds obtained from what is seen in issued assets on the stellar network that can be seen by the world.
FUNT equity distribution
We have issued 10M shares of which 200,000 equity shares will slowly be sold on the stellar market in about 100 - 1000 share blocks at a time in incremental periods, to be sold for 40 baht each (about $1.32USD per share at time of this post) or equivalent value in other assets. 5M shares will be given to the founder and CEO of funtracker.site Scott Carlson with restriction he can not sell any of his shares on the open market for at least 4 years (Aug 2020) or unless a vote of the board of directors not counting Scott Carlson's voting shares allow him to do so.
What does the proceeds of raised funds and remaining shares pay for?
4.8M remaining shares will remain in the possession of Funtracker.site Foundation to later be issued and sold onto the open market to collect cash funds if needed over time to continue and maintain operational capital needed to pay for expenses incurred by funtracker.site cost of operation. These additional equity sales will be determined by votes made by stock holders using there issued shares voting power. The money obtained from the sale of shares will be used to continue development and maintain Funtracker.site and it's software base that is also open sourced and public for all the world to see and use. Part of the assets will also go toward the payment of server costs of our VPS systems needed to serve the web sites and any permits, taxes, rent, legal penalties and other fees incurred by funtracker.site organization over time that are not covered by profits earned. The money will also be used to hire contracted programmers and engineers to help solve some of the problems our staff and volunteers can't handle and to expedite things we want to have changed and improved in less time. Also 10% of the 200,000 liquid shares that end up sold that are to be maintained in cash in thai baht in our Thailand bank accounts and some in XLM, BTC, ETH and other assets will be used to help keep liquid and stable the value of the outstanding floating funtracker.site FUNT shares and our other traded assets.
Where assets are to be stored
Funtracker.site Bank will hold it's liquid assets in Bitcoin, ETH, XLM and other assorted crypto currency and other crypto assets, but no more than %95 of it's total liquid asset base to aid in transactions that require it and to provide a safe place out of reach of governmental control. 5% to X% of the remaining assets will be held in our local Thailand banks and later USA banks in THB and USD and also held in other assets distributed on the stellar.org network be it fiat currency or other in nature as part of our market maker program.
FUNT agreement of keeping shares liquid
Funtracker.site agrees to buy back any outstanding issued shares at a price of at no less then -10% less than the original ICO price of 40 baht, or about 36 baht (90 cents on the dollar of the original ICO sales price) of up to a limit of 10% of our total liquid bank assets of whatever we have liquid in our Thailand bank accounts and crypto holdings less what has already been spent on research and development and operational expenses over time on the books.
Funtracker.site Bank will then put The bought back assets back up for sale in the floating market at our standard profit margin above last known selling price of the asset. This should also provide some stability on the upside price of the Funtracker.site Bank asset. This in hopes will also make the FUNT equity asset a more stable priced commodity that can be used in the trade of other assets or goods and services over time as it becomes more trusted.
FUNT holding empowered votes
The holding of equity shares in Funtracker.site Bank also provides the holder with the right to votes on the board of directors of funtracker.site to make decisions as to what changes we as the group of owners would like to make on the site and how the present available assets are to be used.
Misc contact and details
Come see what funtracker.site Bank is really all about at https://funtracker.site or chat with us directly at https://chat.funtracker.site/channel/bank or PM an admin or sacarlson directly for a private chat with Scott Carlson the CEO of Funtracker.site Bank for any added info you might need to know on how to make a direct ICO purchase of a block of the FUNT asset. You will also see sacarlson on slack as https://stellar-public.slack.com/messages/@sacarlson/ to give him a chat there.
Note we are looking for wide distribution NOT big groups that want to purchase large percentage share blocks of the available equity shares in the floating market to prevent price manipulation with big holders with the power to big buy and dump to change prices radically. At this point we have not finalized on what the share sale block limits will be over time, but at present we are thinking of direct block size purchases limits per account of between 100 to 10000 shares as the max per account for any direct FUNT block purchase by any buyer holders. This is open to change over time as to whatever the board of directors decides.