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Plans for February

January 31, 2022

Hi, everyone! The holidays are ended, February is coming. We wanna announce our plans for the upcoming month. We really hope that the news will please you. We carefully monitored the mindset in social networks and got lots of feedback about the platform.

Network update
On the 01.02.2022, all the main nodes of FOIL Network will be updated to the latest version 12.01, codenamed “Satoshi”. This update will radically change the system of block rewards and make the validation process much more profitable for users.

So, what awaits us:
  • 20% of FOIL tokens currently held on developers’ wallets will be burned.
  • To compensate for these losses, an automatic reward for block validation in FOIL tokens will be introduced.
  • This project is planned for five years. During this period, the number of FOIL tokens will again reach the calculated number of 100 000 000.

In a nutshell, 20% of the current total FOIL tokens is assigned as rewards for staking and forging. Wonderful news for people who wanna increase wealth!
Recall that for self-staking, you need a full FOIL Network node and at least 50 000 FOIL on the account.

There is no lower limit for forging. You can invest any amount of FOIL in the forging pool and receive rewards in proportion to the invested.

News for people who keep an eye on the market and would like to trade Pure NFT on popular platforms like OpenSea and Rarible. It seems impossible, so it’s time to be sad. But…

We took the problem seriously and found a way. We present you the result. FreePort is the first system that allows you to associate Pure NFT in the FOIL Network with NFT of the ERC1155 or ERC771 standard in the Ethereum and Binance Smart Chain networks. We called it “Quantum Entanglement”. It’s not so easy, but our users will be able to trade on popular platforms, retaining all the benefits of Pure NFT. Store content in the blockchain and transfer exclusive rights for the work!

How does it work? Simple and complicated at the same time. Try to tell you how we solved this problem and what problems we encountered.
In the beginning, we chose the wrong path, taking the “bridges” concept as a basis. This concept works successfully with so-called “wrapped” tokens, copies of tokens on the not main network. We thought, “Nothing new, it should work”. But there were difficulties …
We don’t know how many Pure NFTs will be created in the FOIL Network, and what parameters they will have! Accordingly, we cannot create the same number of copies in other networks.

Maybe it’s necessary to create copies at the same time as the original? It seems to be nothing complicated… But we can’t store all the data in NFT on popular networks. And the cherry on the cake was the cost of issuing NFT.

And we realized that we can’t solve this problem without users. Only the owner of a non-fungible token can decide on which network he needs to issue a copy and at what time it needs to be done.

This is how the FreePort concept was born. FreePort is storage and validator of Pure NFT, which the owners decided to sell outside the FOIL ecosystem.

It works pretty simple. If the owner of Pure NFT has decided to transfer his property to a third-party network, he must create an NFT in this network. Then he must enter information into the description field about the according Pure NFT in the FOIL blockchain and a link to the FreePort service.

Next, he needs to transfer Pure NFT to the FreePort service account with a message containing the token ID in a third-party network.

FreePort verifies the received data and publishes the result as a token matching string in the FOIL network and in a third-party network. This data is also available via the API, so it can be published directly in the marketplaces. After that, the “entangled” NFT can be easily checked for compliance with the Pure NFT stored in FOIL.

For example, the owner of such an NFT succeeded in selling it, and the new owner wants to take Pure NFT for himself to get all the related rights to the content.

He connects to the FreePort service via Metamask, and the contract immediately determines NFTs ready for reverse transfer. After that, it is enough for the new owner to enter his FOIL address and confirm the transfer. The token in the third-party network goes to the FreePort account, and the associated Pure NFT goes to the new owner’s FOIL account.
It seems quite complicated, but this scheme is the only one that allows to preserve all Pure NFT features when creating associated tokens in third-party networks. We’ll try to simplify the process as much as possible, make it maximally “user-friendly”.

Game news that knowing people have been waiting for a long time. In February, the game on the FOIL blockchain, named Dogeplanets finally launches. This is a strategy with tactics elements and well-developed economic system. Creators use “easy to learn, difficult to master” principle.
The launch will be performed in several stages, during each new gaming opportunities will be opened.

The first stage, during which users can create their first Doge planets, starts in February.

Also, the game’s own website, a separate web wallet optimized for gaming purposes, a trailer, litepaper and much more are ready for launch! Follow the news in our social networks!

Listings and bridges
Also in February, in accordance with the roadmap, we are fully launching the bridge between the FOIL and Binance Smart Chain. For a long time, we have had a liquidity pool on PancakeSwap. This means that when the bridge is launched, users will be able to use FOIL tokens both on the native FOIL Network and on the Binance Smart Chain.

In addition, discussions are already taking place about listing on popular platforms, so February may turn out to be a really hot month! Work is underway to add the FOIL token to other important services, such as Coinmarketcap and Coingecko.

In short, a lot is planned for February, the shortest month of the year. Well, we’ll have to work hard. But we are sure the result is worth it!

Thank you for being with us, and see you in February!
Foil Network
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