Frequently Asked Questions

The FREEOS tokens are not pre-mined/pre-minted. They are created solely by the efforts of the community through voting or the AirClaim mechanism prior to launch. The founders do not hold any FREEOS tokens prior and therefore cannot send/sell any tokens.

If you are a wholesale investor/philanthropist and would like to discuss our how the Freeos Economic System can reward investors, please contact us here.

Mostly yes. As long the participant has paid the Proof-of-Burn Access Fee, then all the participant needs to do is answer a few survey questions and then vote on the the economic controls. Once those controls are ratified by the community through the voting process, then each active participant gets rewarded in FREEOS tokens for their part.

There are 3 main ways.

  • 1. The first way—open to those that decide to join and participate prior to launch—is the AirClaim. This is a type of "airdrop" that is available to those that engage with our AirClaim pre-launch procedure. This is limited to 25 claims, 1 per week, prior to launch. To sign up for the AirClaim, please join here.
  • 2. The second, once the main Governance dApp is launched, is to pay the annual Proof-of-Burn Access fee. This fee (in FREEOS) is later recouped in merely a fraction of a year's time. This fee sole reason is to stabilise the price and decommission FREEOS tokens from circulation, as a counter to inflation.
  • 3. The third way is to obtain a "Voucher". These Vouchers are a type of digital crypto-asset that have a year-long expiry. These will be primarily received and distributed by either the FreeDAO group, or a trusted partner at a later date, post-launch.
  • Imagine a government wanted to issue its own cryptocurrency (let's call it GOVT). Why would any people or business accept it?
    Creating demand for any token is the most critical challenge of every crypto project. Luckily for this imaginary government, it needs to do is decide that all the taxes must be paid in the GOVT token. All aspects of society will now rush to obtain GOVT to pay their taxes or they are fined, their assets liquidated or they are jailed. Demand for this new currency is now sorted.
  • So, now the government can issue tokens into the economy. People and businesses accept payments in GOVT because they know there a base demand for it—and that base demand means this token has a base value. When the taxes are paid back to the government, imagine these tokens are burned (destroyed) instead of simply going to the government coffers. This offers a deflationary mechanism to the economy each time the tokens are burned (destroyed).
  • As long as the demand for tokens is equal or higher than the supply, the government can issue more tokens without the price of the token going down (devaluating). The initial demand is a (complex) function of tax obligations and the velocity of the token (propensity to either spend or store).
  • It is also reasonable to assume that people and businesses will hold a balance of GOVT in their accounts and might also use it for payments, as not all the GOVT will be used for paying taxes immediately. These additional payments further increases the demand and further increases the value and also results in a positive (greater than zero) circulating GOVT supply.
  • Now imagine that—instead of a centralised government issuing the token—the people of the economy vote directly on the inflation rate. And imagine that the same people can vote on the tax rate (in the case of Freeos, this is substituted by the Proof-of-Burn Access Fees). And then—instead of the government minting tokens for itself and to lend to banks that then finally lend to the people—the government IS the people? Directly and freely voting and minting their own resources into existence. Then individuals can trade their way by providing goods and services to increase their wealth from this base. This is essentially the Freeos concept.
  • The AirClaim is a way to distribute FREEOS tokens to the first participants. Many other cryptocurrencies deliver tokens freely in what is often called an "airdrop". This is usually only done once. For Freeos the AirClaim is a type of continuous airdrop that is claimed by active participants once a week over a fifteen week period. Each week increases the ammount of FREEOS tokens that can be received with the end goal of having twice as much FREEOS tokens as necessary to join the Freeos economy. To accomplish this, each participant needs to keep half of the previous week's AirClaim reward in order to receive the next week's earnings.
  • To operate the AirClaim, you will first need to have Proton wallet. Download the Proton wallet here.
  • The AirClaim is designed to kick-start the economy and to ensure that fiscally responsible individuals are amongst the first members.
  • The increased rewards gives an incentive to come back next week—just like the upcoming voting of the main Freeos sytem.
  • Holding half of your earnings gives you just enough to pay for the initial Proof-of-Access Fees required to enter the Freeos Governance dApp. But since half can be kept, given or sold, it provides other benefits—including ways for other latecomers to enter the Freeos Economic System.
  • Latecomers may wish to come in part way through the AirClaim process, but as each week's rewards increase, requiring half of the previous week's rewards meaning latecomers will have to buy their way in. And since each week will cost more to buy in, this will increase the urgency to act.
  • It is hoped that this dynamic will both give a starting price to the FREEOS token, and a viral marketing buzz to onboard enough users to create a vibrant and dedicated starting community.
  • First you will need to have an Proton account. This can be obtained through a number of sources.
  • Then you will need to go to a supporting exchange to purchase FREEOS tokens, or one of the supporting subscription coins, for the access fee. (Supporting Exchange list upcoming)
  • Once you have the total required for the access fee in your account, you can access the Freeos Governance dApp. Here you can pay your access fee which will allow you to access and engage in the next voting iteration—and all others for an entire year. Remember, the access fee is soley utilised to burn (decommission) FREEOS tokens from circulation. These fees do not go to any individual or group.
  • Freeos has the potential to indefinitely pay for itself through a system of inflationary, and deflationary controls—as well as providing an access fee into the system that supports a base value. Additionally, a system that emulates a "foreign reserve pool" helps the community with a growing pool of stable cryptocurrencies that can be traded for open-market FREEOS tokens—which are then burned. These mechanisms are designed to parallel existing economic systems—only controled by the people, not a central authority.
  • Ponzi-Schemes—and pyramid schemes—require an influx of new particiapants to pay to the existing members until there are no longer new participants—and the scheme collapses. Freeos does not depend on new participants to pay any exisiting members to enter. In fact,the community may vote on indirect ways to create economic friction towards new members from easily entering—and this may be economically sensible at times.
  • Freeos requires access fees in the same way Bitcoin miners require continuous investments into new ASIC mining equipment, or how Proof-of-Stake coins require coins to be "locked up" to provide a type of "stake" in the system and to ensure automated bots do not take over (Sybil Attacks). Additionally, having an access fee provides a base value cost. Just as the cost of mining equipment and electricity costs create a base value in Bitcoin or Ethereum. This base cost ensures that there is a net value—incentivising participation in the network.
  • And the access fee also accomplishes a very important task as a Proof-of-Burn mechanism that helps to counter inflation in the system by removing FREEOS tokens from circulation.
  • Freeos also is structured so that the access fee is recouped (in the value of FREEOS tokens) through only a portion of a year's rewards.

Economic controls for the Freeos economy such as the weeky inflation rate, the Proof-of-Burn Access Fee (separately for FREEOS tokens and other cryptocurrencies) to enter the system, triggering a trade of the reserve pool in exchange for open-market FREEOS tokens, distribution of the partner rewards.

1. Voters will have strong limits on the inflation rate each week that are set by the immutable blockchain code of the smart contracts of the system. There will be rules that increase the target price of FREEOS, depending on growth into the community, but there will always be a conservative upper cap on inflation.

2. Additionally, some of the survey questions are designed to ask the community's opinion on the price trajectory and is reflected back to the community. This way to inform the voters before they vote helps each participant know what is widely perceived as being healthy for the economy. Since the final vote needs to be ratified by the collective, it is hoped that rampant inflation will be discouraged by an informed group—especially if the FREEOS token's value is falling.

There are a number of deflationary mechanisms that the voters can employ.

  • The Proof-of-Burn Access Fee (in FREEOS tokens) is controlled by the community. Lowering the cost encourages more people to enter (as they hope to receive rewards). When these access fees are paid in FREEOS—these FREEOS tokens are destroyed as soon as the new user pays.
  • The community can also trigger the reserve pool to get traded on the open market in exchange for FREEOS tokens held by traders. Not only does this signal buying (which may further signal traders to buy for any upswing), it results in the purchase of large quantites of FREEOS tokens. These FREEOS tokens are then also destroyed to add an additional deflationary aspect.
  • Ideally, these two deflationary mechanisms increase the price of the FREEOS token on the open market, attracting new members to join to obtain this rising token, with those new members further triggering the automated destruction of these new tokens used to pay the access fees.
  • Since new members can pay for entry in either Freeos tokens, or in other stablecoins (that are pegged to existing fiat currencies), there is a choice in how to pay. If the cost of Freeos gets too high, users may wish to pay in stablecoins. This has the additional benefit of growing the reserve pool—useful for times when the price of the Freeos token is dropping.
  • Additionally the FreeDAO group has the ability to receive Vouchers (conditional on the growth of new users joining via the FREEOS token fee). These Vouchers can be given away, or bundled in workshops designed to teach people how to use cryptocurrencies and the Freeos system.

Both. Neither.

  • Freeos has some similarities with Modern Monetary Theory but flips the script on a number of concepts. Instead of a government being a monopoly that forces taxes to provide value to the currency, Freeos makes a case for incentives driving the demand into the system. Instead of the current MMT "stick", Freeos proposes a "carrot". Instead of a government, there is the FreeDAO group that is incentivised to encourage development, service the community & increase involvement in order to receive funds and therefore exist.
  • Unlike some of those who adhere to Austrian Economics, fixed resourced based currencies are only lightly proposed with Freeos through a concept called the "Conditionally Limited Supply". This acts as a fixed supply ONLY if no new users join or leave the system. Otherwise, the supply grows and shrinks dynamically as the size of the economy grows and shrinks. This is a new economic concept that is inspired partially by Austrian Economics.
  • DAO is concept in the blockchain world known as a "Decentralised Autonomous Organisation" with its rules of operation built on immutable smart-contracts. FreeDAO is the organisation that is building, operating, maintaining and extending the Freeos system. This organisation exists to build collaborative tools that engender greater freedoms in human society. We exist to create digital "commons" that can be utlised by as many people as possible to enrich human life in greater ways.
  • DAOs exist on the blockchain, and as such, have no centralised base of operations. They are not registered in any country or jurisdiction (at the present moment), and represent a non-local association of individuals that hold certain digital assets related to FreeDAO. These assets allow the members to vote on decisions and to get compensated towards a living wage to help "free" up their efforts to further create more tools for humanity.
  • FreeDAO is not a registered charity, but it is a charitable DAO. FreeDAO may receive economic benefits from the Freeos system, but these are not intended to make the organisation—or any individuals part of it—rich. Just free to dedicate their time to contribute.
  • FreeDAO members are intending to get paid by our efforts, but that depends on the value we bring to the community. Essentially, the systems we build are designed to only bring FreeDAO value if they bring value to others.
  • Currently, FreeDAO is only for active contributors to the Freeos system. We do encourage anyone that has skills in blockchain development, marketing, economics, or even those who wish to asssit financially, to query us here
  • Future development of FreeDAO will allow for conditional—but fair—ways to onboard qualified contributors into FreeDAO.
  • Initially, it is used for entry to the Freeos system. As it also may have value on exchanges, it may be used to trade for other cryptocurrencies, some that have mutually perceived value on a worldwide scale. This tends, however, to be very speculative and can be dependant on a number of uncontrolable factors.
  • FreeDAO believes that the Proof-of-Burn Access Fee, and market speculation is just the beginning of providing value to Freeos. FreeDAO is dedicated to encouraging the FREEOS token to be used in many other ways to purchase services, physical and digital goods, as well as education and will be using any proceeds to develop and encourage more real-world use cases. As a token that can be freely spent and a high-transaction speed, it is hoped that wide adoption can be encouraged through clever means.
  • We chose the Proton blockchain for the speed, relative ease-of-use, and free transactions. Additionally, Proton includes KYC as a way to help mitigate against duplicate accounts. and includes a user-friendly wallet to interact with dApps. We believe that these qualities are required to onboard new members into using the blockchain—and therefor Freeos.
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