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Franklin (Fly) Token is the Key to the Ecosystem of VRM

The FLy token was specifically designed to provide customers with an opportunity of getting discounts and other benefits from VRM and its ecosystem. The token will support a company’s development by building a strong society of retail and institutional partners around VRM, as well as involving investors in long-term relationships.

FLy is an ERC20 token. However, the company may move a part of the token supply to different blockchain networks in the future. For now, Franklin is an ecosystem token only for the VRM business, though. But it provides owners with Black Ocean transaction fee discounts and rebates.

What is the VRM? 

VRM is a proprietary HFT company that provides MM solutions to digital asset exchanges. It also focuses on trading AI-based quantitative HF strategies on the crypto market. The company became established in August 2018, and now it works on all major trading venues, such as BitMEX, OKEx, Bitflyer, Huobi, Binance, Bit.com, Derebit, Bithumb, BTSE, Liquid, with a market share ranging from 6.2% to 49% each. According to the company, their daily average trading volume is approximately 15-20 Billion USD. Besides, VRM has multiple businesses in its ecosystem, including VRM Mining, VRM Research, VRM Capital Management, etc.

However, one of VRM’s major business ventures is Black Ocean – a liquidity-providing platform incubated by VRM. Black Ocean aims to cover lending, custody, and legal currency channels for corporate and institutional users. It provides various services, like liquidity pools and dark pools.

The liquidity pool provides for the execution of market makers and retail orders venue, with no minimum order limit. Meanwhile, the dark pool provides a trading venue for the execution of 5 bitcoins or large orders of more than 300,000 US dollars.

Gate.io has launched this Startup, and traders now have more opportunities to make an initial investment. They can buy tokens on the platform. A total of 10,416,666 FLY are available for sale, and the price is $0.024 per token.

According to the company, there are four rounds: Strategic partner round, Pre-seed, Seed, and Private round. Each has a 24, 18, 15, and 12 months vesting schedule, and they will unlock every three months. However, all rounds share the same first unlock date – 2021/04/30.

During the public sale, only 17% of tokens will be available, but that does not mean the company will release 17% at one go. They planned to list tokens at exchanges with IEO and sell the smart part of FLy on IDO. VRM will release the rest of the tokens slowly in the secondary market through market-making methods.

 

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