What is FirmaChain?
FirmaChain is a blockchain-based platform that hosts a vibrant ecosystem of decentralized applications and developer tools. The protocol is an independent, scalable, and interoperable decentralized network aimed at creating the foundation of a new token economy. FCT is the native token that fuels the ecosystem. You can view the FCT price on the live chart above.
The main aim of the project is to transfer all paper-based social and legal activities onto the blockchain. The move would help achieve transparency in contracts and the immutability of documents. By taking this direction, FirmaChain aims to maintain the fundamental value of trust when dealing with contracts. The project's goal is also to provide business entities and FirmaChain token holders with useful blockchain-based services that offer both – utility and entertainment.
The FirmaChain can be used to develop dApps, wallets, NFTs, and other infrastructures. Its features include contract signing between participants, uploading the UID of files, address monitoring of respective storage spaces, and contract status management. The entire ecosystem runs on the concept of Ethereum’s smart contracts.
To render its services effectively, FirmaChain developed its proprietary mainnet based on the Cosmos SDK, a framework that utilizes the Tendermint BFT agreement mechanism. It also initiated a plan to swap tokens.
Use Cases of FCT Tokens
FCT is the native token of the FirmaChain ecosystem. It is a multi-utility asset. FirmaChain crypto assets can be used to make payments within the project’s ecosystem. FCT is also used to incentivize various activities within the ecosystem. Additionally, FirmaChain token holders can participate in staking by locking their assets to become validators. Validators earn high rewards paid out in APY and APR. The FirmaChain coin is also a governance token. It allows holders to vote on the proposals that define the future of the project.
Care to see the live FCT price? Make sure to check the FirmaChain price chart above – it features the current and the previous value of FCT.
Who Founded FirmaChain?
Young Yoon is the founder and CEO of FirmaChain. Young Yoon has over 14 years of in-depth experience in the online and mobile game industries. Yoon has contributed to international business development and management as well as game operation. Previously, Yoon worked as a team lead (Global Business Development Team) at PATIGAMES. He was also a senior manager at NCSOFT and GameHi Co., Ltd.
Tokenomics of FCT
The FirmaChain token has a 15% inflation rate. The number of tokens issued increases to match the needs of the expanding user base. The tokenomics are designed to ensure sufficient supply as well as FirmaChain price stability.