Smart contracts will make it easy for people to handle tasks in a smooth and transparent way. The computer code will define parts of an agreement and will self-execute if terms are met.
A smart contract is just computer code that defines certain parts of an agreement and can self-execute if terms are met.
Smart contracts are powerful because we can guarantee their future execution in a decentralized and transparent manner. Developers can code programs that orders our cryptocurrency tokens to operate in a certain way. This groundbreaking new model can be massively profitable and useful. To read more, visit our Smart Contracts Guide.
But the problem is that most of us aren’t computer programmers or developers. Because smart contracts are still in an early life stage, there is currently no user-friendly interfaces.
Fabric Token hopes to allow users and businesses to easily adopt blockchain technology and smart contracts for individuals from any background. Fabric Token will be a utility token to pay for products and services in the Fabric ecosystem.
TokenGen: A Simple Web Application for Smart Contract Generation
In the Fabric Token ecosystem, TokenGen will lay the groundwork for providing a straightforward, easy-to-use user web interface and pre-defined smart contract templates for token makers. The average Joe will be able to use a simple user-friendly platform used to generate smart contracts for the token economy.
Fabric Token will pave the way for mainstream adoption of blockchain and smart contracts. Allowing anyone with any background to build their own decentralized token or software will expand the growing market of blockchain technology.
DApp Workbench – An All-In-One Solution For Businesses
TokenGen will allow users to easily create the most common elements of smart contracts, DApp Workbench will be a more advanced platform for businesses looking to integrate blockchain technology and smart contracts.
Fabric Store: A Decentralized Marketplace for Smart Contract Components
The last element will be the Fabric Store, a decentralized marketplace for smart contract components. The Fabric Store will allow third-party developers to sell components such as software libraries, UI add-ons, plugins and themes in a decentralized manner. The marketplace will use blockchain, guaranteeing that no central authority can tamper with the reviews left by users.
The Fabric Store will not limit developers to publishing only DApp Workbench and TokenGen extensions. Fabric Token hopes to turn it into the go-to marketplace for blockchain related software.
Fabric Token Launch
The goal of the Fabric Token launch will be to raise a maximum of $9 million USD with no minimum threshold
Maximum funds raised target: 22,829 ETH or approximately 9 million USD.
Token exchange rate: 1 ETH equals 3,504 Fabric Tokens or in other terms, 1 FT will be sold for exactly 0.1125 USD.
Fabric Token smart contract address: Will be known exactly 48 hours before fundraiser begins.
Launch date and time: February 15th, 2018 at 10:00:00 UTC.
Token launch completion: Either after 45 days from the beginning of the FT launch or until maximum funds raised target is reached.
Token Distribution: 80% will be available for sale to the general public. – 12% will go to the Fabric Token core team and will be released after 12 months. – 7% will be allocated to advisors and released after 6 months. – 1% will be used for the bounty program.
Product Development: 55% of the budget – allocated to the core Fabric Token team. This financing will allow the development of the DApp Workbench product, including the necessary adjustments and improvements to the already existing TokenGen tool.
Marketing: 14% of the budget – allocated for expanding awareness and adoption of the Fabric Token ecosystem.
Contractors: 11% of the budget – allocated for third-party service providers offering engineering, marketing, growth-hacking, PR, partnerships, and other necessary services.
Legal: 9% of the budget – allocated for legal costs.
Contingency: 6% of the budget – allocated for unforeseen costs.
Administration: 5% of the budget – allocated for security, accounting and other associated administration costs.