MMary | Satoshi Club
Hi Satoshi Club community! Hello Family Over Everything Project! It's great to have you here today. Let's get the AMA session started!
JJay
Happy to be here and looking forward to a great session.
MMary | Satoshi Club
@foecryptofamily welcome to Satoshi Club
JJay
I feel the love already thanks
MMary | Satoshi Club
Haha, love is everywhere here
MMary | Satoshi Club
Love to education and crypto!
MMary | Satoshi Club
Jay, could you please introduce yourself to our community
JJay
My name is Jerome Floyd Founder and CEO for FOE but everyone calls me Jay
JJay
I can give you some background about myself also if you would like
GGold Rocket | Satoshi Club
JJay
I been in Real Estate for 20 years now as a Broker, Investor and Property Manager. I currently manage a porfolio of properties valued at over 150mil. I also have three college degees two masters and a bachelor's.
GGold Rocket | Satoshi Club
JJay
If you want to know something just ask its ok.
MMary | Satoshi Club
Wow, you have huge background! What event in your life leaded you to crypto space?
JJay
I believe crypto can grow into something we can use in our everyday lives. I wanted to create a project that could do that. I feel people really want to see crypto succeed and I'm one of them.
MMary | Satoshi Club
And i think you're close to this
MMary | Satoshi Club
What is FOE? What inspired you to create the project? What are the goals and tasks before it?
GGold Rocket | Satoshi Club
We really appreciate family values, how did you come up with the idea of the project?
GGold Rocket | Satoshi Club
Thanks a lot for the great intro. Are you ready to move on to questions from the community. @foecryptofamily
JJay
FOE was designed to be an all around utilitly token. I believe for crypto projects to work and become the currency of the furture some things need to happen. I feel we need to provide users of the token real benefits. Most projects like to keep everything to themselves we are different at FOE. We take the strength of our users and use that to reinvest back into them. The reinvestment will countine to grow as we grow this is FOE plan and simple.
MMary | Satoshi Club
Your plan sounds great it's real care about users!
JJay
Yes, I'm ready for the the questions. I know we got some good ones.
GGold Rocket | Satoshi Club
we are really proud that you share your concept with us
GGold Rocket | Satoshi Club
Q1 from Telegram User @Cheriemike
It is that theFOE token presents a unique opportunity for merchants and brands to deliver real value for their customers, while helping to fuel the FOE economy and you explain further that customers who opt-in to brand programs and become “Family Members” could earn crypto tokens with their favorite company.So this token customers are to earn is it the FOE token or other tokens e.g BTC?And since they are to earn when they shop from their favorite company,are this company connected to FOE platform?Can users shop in any company in their locality and earn or you have some listed company users can actually shop from?And what will be the % earn from what they shopped and will the earnings be given immediately as they shopped?Please explain Thanks
JJay
Great question. FOE to start will create partnerships with merchants by prepaying for discounts for FOE members. This will help FOE to become a leader in the crypto industry. One of the challenges of crypto is that it’s not a dollar for dollar match when making purchases because of fees. The other challenge is merchants are hesitate to accept crypto. FOE wants to change that our approach is to partner with a merchant and give them a dollar amount that will provide users the discount. This does a few things for the token. It creates partnerships with merchants who can now offer discounts to their customers but still receive full value because FOE is covering the difference. This also helps our users get real value and discounts on purchases. It also helps with token transaction volume which is important for continued growth. This creates a win for everyone involved in the transaction.
Let me share an example with you. American Airlines average round trip ticket price is $500. We would like to partner with American Airlines and give them $1,000,000 to offer discounts to anyone paying with FOE. The discount we are looking to approve is 10% of ticket sale which is about $50 per transaction. $1,000,000/$50=20,000 Transactions 20,000 Transactions x $450 Ticket Purchased = $9,000,000 token volume generated
The goal for FOE is to provide the best discounts for its family members as possible. Once FOE becomes more popular and widely used and accepted merchants will start to use FOE as a reward tool to drive their business without FOE providing prepaid discounts.
MMary | Satoshi Club
Do you plan to start with America or globally?
JJay
The US is our base but the plan is to be global.
GGold Rocket | Satoshi Club
It's absolutely great strategy
MMary | Satoshi Club
I remember a lot of projects which were going to give users opportunity to shop online and earn. Most of them were not successful, only some of them are still alive. What is your special recipe to survive and stand ahead of competitors?
GGold Rocket | Satoshi Club
Thanks for amazing answers
JJay
We are completely different. What we do is we prepay the merchants to offer discounts to our family memebers. We take the 2% transaction tax and we reinvest that into our family members.
GGold Rocket | Satoshi Club
MMary | Satoshi Club
Thank you for detailed explanations
GGold Rocket | Satoshi Club
Are you ready for the next question
JJay
Yes I am. Hope it's other good one.
GGold Rocket | Satoshi Club
MMary | Satoshi Club
Q2 from Telegram user @coldston8
Hello family over everything team.
I want to talk about the security of your platform.
I read from your website that you’ve been audited by solid proof. Which is a good step towards securing your platform. Can you share the details of the audit to us? Were their any issues found with the audits?
Still on security, we’ve seen big projects fall and crash, how can you assure your investors that their investments are safe with you? In case of a security hack, do you have a reserve fund that will be able to consolidate your investors to some extent? Can you tell us more about your reserve fund and anti hack/attack policy?
GGold Rocket | Satoshi Club
Satoshi clubbers are the best in this case
JJay
We take security very serious this is why we had the audit done. The full audit report is posted on our website for anyone to see. We audited our token and also our staking and vesting dashboard. We wanted to provide the most secure token as we possibly could and be as transparent about it also. This is why everything is available for you to see.
Yes, we have seen big projects fall and crash. FOE is setup different than most projects. Most projects fall because there is not real value to the project so when things take a turn for the worst there is nothing for people to fell secure about. FOE investments in Real Estate will create a real value for the company. This will help against a crash as you can place a real value on the company which also helps with the price of the token.
We do have a reserve fund for attacks and we will always do what’s best for our family members. This whole project is about us being together and we would never leave our family members in a tough situation.
GGold Rocket | Satoshi Club
thank you for taking such a responsible attitude to this issue
MMary | Satoshi Club
So, were there any issues found during audit?
MMary | Satoshi Club
Thanks! Your answers as always detailed!
GGold Rocket | Satoshi Club
Q3 From Telegram User @spanishsimon
Hello @FOE team, it’s a pleasure having you here. Well talking about stakings, I saw that you have 3 categories of stakings which is the silver, gold, and diamond. Can you please tell us how are stakings done on each of this category? What will be the rewards and APY for staking on each pool. I also saw that each category of staking, has a one year lock up period before we can get rewards So can you please tell would there be penalties if we decide to unstake before the given duration? Would we still get profit. And lastly, is there any minimum and maximum amount of token needed for stakings? Can you please tell us.
JJay
Pleasure to be here and sure no problem. The staking has three different tiers Silver, Gold and Diamond. The Silver tier range is 10,000-49,999 and has a 5%APY. The Gold tier range is 50,000-99,999 and has a 10% APY. The Diamond tier range is 100,000 plus and has a 20%APY. We also have and additional bonus if you stake for at least 26 weeks to 51 weeks you will receive an additional 1.5 times on top of whatever tokens you gained while staking. If you hold for 52 weeks you will receive 2 times more.
Let me give you an example.
If you staked 10,000 FOE for 26 weeks you would receive 10,000 X 2.5%=250. The second part of the bonus because you held for at least 26 weeks it would be 250x1.5=375. This would be the total you would receive once you un-stake
your tokens at that time.
Our Staking you can un-stake at anytime. You gain part of your APY daily and you receive anything you gain during the staking period. We wanted the staking to be transparent and easy for people to stake and un-stake as they wanted to. We also believe the project will show people that staking with FOE long term would be beneficial to them.
MMary | Satoshi Club
Where we can stake FOE? Can you give us a link?
JJay
The dasboard is on the site foecryptofamily.com
GGold Rocket | Satoshi Club
GGold Rocket | Satoshi Club
can you tell us about your give away on twitter?
MMary | Satoshi Club
Thank you for this answer! Benefits are obvious
JJay
Sure let me provide some links for everyone also.
GGold Rocket | Satoshi Club
JJay
https://twitter.com/foecryptofamily
JJay
https://instagram.com/foecryptofamily
GGold Rocket | Satoshi Club
Are you ready for the next question?
GGold Rocket | Satoshi Club
Q4 From Telegram User @Dominicjr
Hello family over everything, welcome to satoshi club, going through your website i found out that in the phase four of your project the last on your list was listing on $CEX exchange. of which I know one of the most easiest exchange to tade on is the $DEX and most crypto traders Like me will prefer to trade on the $DEX exchange. So please #FOE can you please tell me why you choose to list your token on a CEX exchange ove eye DEX and some of the things you find out that will be of more advantage to you by using CEX over DEX.
Thank you
JJay
Our plan is to first list on DEX exchanges and grow. Once we hit a certain point we will bring the next options to our family members which is you. FOE isn’t a DAO but we wanted to give our family members the option of being involved with the decisions we make. If you look at our website you will see how our polling works and how your voice will be heard.
GGold Rocket | Satoshi Club
I see you have thought out a strategy for success
JJay
We're trying our best for our family members
MMary | Satoshi Club
Will you have easy options for your users to buy FOE? Because if they will need to pay in your native currency they need to be familiar with wallets, Dexs etc this will limit your users amount, because newbies often better understand CEX system
MMary | Satoshi Club
When my friends see how i am using Metamask they think that's something complicated
JJay
Yes we will and all details would be provided. This is really important for us that anybody who wants to join will be able to.
MMary | Satoshi Club
I am happy that you're aware about this, sure you will find a simple way to handle this
GGold Rocket | Satoshi Club
Thanks for your great answers! Are you ready to proceed?
JJay
The first few times it is but you get use to it very quick
GGold Rocket | Satoshi Club
Q5 From Telegram User @DanylkoUA
Hello Family Over Everything Team!
I saw that on the Family Over Everything platform, a portion of the repurchased FOE tokens is used to fund the Treasury. I’d like to know more about the uses of the FOE Treasury funds; what operations does these funds cover? In addition to this, will the Treasury funds be subjected to a governance vote in determining the use of funds so as to ensure fairness and transparency?
JJay
The Treasury is used to purchase assets and for opportunities to grow FOE. The Treasury can only be used by vote. We will bring projects and opportunities to the family for a vote. Before any vote all details about the project will be provided to the family to make the best decision. Any project we bring for a vote the FOE team would have already fully vetted that project.
MMary | Satoshi Club
Why you choose not to be DAO? Can you possible change your mind in the future?
GGold Rocket | Satoshi Club
Of course, DAO is one of trends this season
JJay
I don't see FOE becoming a DAO. I feel you need strong leadership and input from your community for a project to be successful.
MMary | Satoshi Club
There are a lot of sense in your words
MMary | Satoshi Club
Thank you for your answers! Ready for the 6th question?
JJay
@FOEFamily_bot
Please don’t miss your chance for the FOE giveaways
GGold Rocket | Satoshi Club
Q6 from Telegram user @chukky10z
FOE tokens are backed by physical assets such as real estate, providing stability and security for our family of token holders.
So far, how many properties are on the platform?Are these assets tokenized? Will it be possible for Fractional Ownership? If so, how will Fractionalization of assets be implemented in your ecosystem.
How do you plan to use tokens to cut out intermediaries in real estate deals? What are the benefits for the investor as well as the buyer?
how would Family over Everything enhance market transparency and security while lowering transaction costs?
Can I co-own a property if I cannot afford to buy alone?
JJay
FOE will launch soon. After the launch FOE will start to look at opportunities to acquire assets. FOE isn’t tokenized. FOE is using its Real Estate assets different than most. FOE is using its Real Estate for the benefits of its family members. The assets are generating a revenue stream to continue marketing FOE and providing discounts to its family members. We will offer a discount to anyone paying their rent with FOE. This will generate volume for the token and discounts to its family members. The rest of the revenue collected will be used for partnership opportunities. Think of this as a source of revenue that will keep the project sustainable and give it the the opportunity to grow.
MMary | Satoshi Club
Great answer thank you for this informative first part of our AMA . We came close to the live part of it! Are you ready to open the gates @foecryptofamily ?
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