Friend Network ICO update

Today, we have revised our Friend Whitepaper and made some major changes.

FriendUP v1.1 is out (!)

The ICO budget size has been changed due to the appreciation and volatility of Ether

Pre-Sale is now open (!)
(fiat now, ETH later)

Our ICO will be carried out with Norway as base

Budget size vs. Ether appreciation
Due to the strong appreciation of ETH over the last 3 months as well as the accompanying volatility, we have decided to adjust our ICO target budgets as follows;

Minimum: 25 000 ETH (previous 50 000 ETH)
Medium: 50 000 ETH (previous 100 000 ETH)
Maximum: 100 000 ETH (previous 200 000 ETH)

We will keep the number of FNT tokens unchanged at 2 000 000 000 FNT (if Maximum is reached). Therefore, 1 ETH = 20 000 FNT

We recognize that ETH volatility greatly affects our budgets and the ICO as a whole. At the same time, any and all last minute changes to the Token Generating Event may increase risk for errors. Therefore, unless we see extreme changes in ETH before StartBlock, we do not intend to make any further adjustments to the ICO budgets on the basis of ETH volatility.

Moving the ICO to Norway
During our planning process we have learned a lot. We came to the conclusion in Q4 2017 that it would be greatly beneficial for the ICO and the token holders if the ICO itself is carried out from Norway. We believe that the Friend Network, the Friend Store and all holders of FNT will benefit largely from this move. As Norway is a very transparent and digitally friendly nation. Private companies in Norway have to disclose more information publicly than what is required by public companies in many countries comparable to Norway. In an all-out effort, we have contacted all relevant authorities, liaised and contracted the best suppliers helping us ensure compliance. We are currently working hard to pave the way and hope our ICO can create an example for other companies to follow. In December, after some careful investigation, we were able to make a qualified decision to conduct the ICO from Norway.

Pre-Sale
We are now planning accordingly and at time of writing this, we are now open for accepting fiat Pre-Sale — and will be ready for Ether PreSale shortly. The ICO itself is at this stage planned to start in mid-February 2018.

We welcome you to familiarize yourself with the Whitepaper. Feel free to ask us questions about our bold project!

You can also visit our conventional business web-pages on https://friendsoftware.cloud/

Feel free to ping us directly !
We want to improve and can only do so with your feedback!