What is FreeZone?
A free economic zone created especially for blockchain-based business and cryptocurrency operations. Within this zone, blockchain business can operate legally, protected from persecution by external governments and regulatory agencies, and free from income tax and tax on cryptocurrency transactions. An infrastructure aimed to drastically simplify the running of business and operations involving cryptocurrencies for both companies and individuals within the FCEZ (Free Crypto Economic Zone), while also offering services to foreign entities. This infrastructure is made up of 5 main enterprises: a universal trading platform (UTP), a payment system, a bank, an investment bank, and a marketing agency, all of which will work with both cryptocurrencies and fiat money.
A blockchain community. Part of FreeZone’s own profits will be allocated to developing programs for this community with libertarian ideals. We plan to provide services for free or at cost, including: education; assistance in obtaining citizenship; asset protection via blockchain technology; legal assistance, human rights protection; and much more. Moreover, we plan to create business opportunities for community members. This unique blend of corporation and community will ensure a perfect synergy, with each one helping the other grow.
We are planning to attract $100 million to finance the project thorough the creation and sale of FreeZone tokens.
The tokens will be created based on Ethereum standard ERC-20.
The total amount of the tokens to be issued is 1 billion. 500 millionn tokens will be sold during the ICO, whilst 200 million. tokens are to be held by FreeZone Corp. and will be used to support the ecosystem, bounty-program, and project promotion, as well as for the secondary placement. 300 million. tokens will be gradually transferred into the possession of the project’s founders. The first 100 million tokens will become their property 12 months after the ICO. Subsequently, 18, 24, 30 and 36 months after the ICO is finished, 50 million tokens for each 6 month period will be transferred into their possession.
The issuance of FreeZone tokens takes place only once and amounts to 1 billion tokens. No further tokens will be issued.
No less than 50% of FreeZone Corp. net profit will be divided among FreeZone token holders. The services provided by FreeZone can be paid for with tokens.
The development path of the blockchain community and the social services it provides will be defined by a system of voting, and the number of votes of one project participant can exercise will equal the number of tokens they hold.
The tokens held by FreeZone Corp. and the tokens that are gradually transferred into possession of the project founders following the ICO completion date form part of the profit distribution and voting on the same terms as the rest of the tokens.
Use of Proceeds
Use of proceeds from the token sale will be arranged the following way:
The share amounts in the use of proceeds are fixed proportions where the ICO is successful (if the sale target is achieved or close to that). In case the amount of capital raised is less than $100 million, the budget distribution will take place based on the actual achieved level of the project (milestones) development achieved in accordance with the figures below:
*The token price is defined and published on the FreeZone website on the day the tokens are distributed. The price is defined according to the following algorithm: payments are calculated based on the Ethereum conversion rate on the date of payment, multiplied by the final bonus coefficients; these numbers are rounded to the nearest whole; the result is the final amount received in Ethereum, taking the bonuses into account. This total is divided by 500 million tokens, and the resulting number is the basic token price in Ethereum.
The amount of tokens, received by the customer, is calculated as the amount of money paid, recalculated in Ethereum, multiplied by the final bonus coefficient and divided by the basic token price. This final number is rounded to the closest whole based on standard mathematical principles. The final amount tokens sold may differ slightly from the amount of 500 million due to this rounding discrepancy.
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