Unravelling the DeFi Gem that is the Falcon Project
In recent years, there has been an enormous growth in decentralized finance(DeFi), with the total value locked in DeFi markets surpassing $6 billion. DeFi platforms, consisting of dex platforms, stablecoins, derivatives, lending, and non-fungible asset creation, have immensely grown the Ethereum ecosystem. And with Ethereum looking to undertake a significant system-wide upgrade that will involve the transition from proof of work to proof of stake consensus model, i.e., Ethereum 2.0, DeFi platforms will continue to surge in the coming years.
Amidst numerous DeFi projects, several projects stand out. The Falcon Project is an excellent DeFi platform that incorporates two completely interchangeable blockchains, which complete each other. The project comes with plenty of features, including a unique reward system known as Proof of Hold, which enables users (vouchers holders) to receive dividends.
While the project appears underrated, it’s a game-changer in the DeFi sector attributed to its outstanding features as well as a high-flying team. Here’s an in-depth look at the Falcon project and insight into the team behind it.
An Overview of the Falcon Project
The Falcon Project is a new entrant in the DeFi sector that seeks to integrate FNT (ERC-20) and FNC (own privacy blockchain) into everyday life: payment for goods and services. The project has its foundations on two blockchain networks and encompasses three interchangeable chains. The idea behind running on two blockchains at the same time is to allow users to choose the best blockchain in regards to speed, privacy, anonymity, storage, and convenience.
The Falcon Project integrates three chains. The first chain is an ERC-20 token (FNT) located on the Ethereum blockchain. FNT is the native coin and was created based on the smart contract of the Binance platform token (BNB). FNT is listed on exchanges and features a comprehensive bonus system for holders and supports integrations and partnerships. The second chain is the ERC-1155 token (Voucher) in which voucher holders get rewards. The third chain is the coin (FNC), which allows users to perform anonymous transactions.
FNT Token Details
Maximum issue: 100,000,000,000 (one hundred billion) tokens.
Way of distribution: Airdrop.
FNC coin Details (still under development)
Maximum issue: 100,000,000,000 (one hundred billion) coins.
Trade Circulation: 7, 572, 000, 000
Benefits of Using Two Blockchains at the Same Time
As mentioned earlier, the Falcon ecosystem has its core on two blockchains, which run simultaneously. This unique approach comes with several benefits, including:
- The ERC-20 tokens, i.e., FNT, allows for simplicity and convenience with an unrestricted listing on all exchanges. FNT is based on the Ethereum blockchain, which is convenient and relatable to both users and developers.
- The FNC coin is the platform’s private coin that enables users to uphold privacy and enhance security when making transactions. FNC is an anonymous coin and is not listed or traded on any exchange. Its primary purpose is to facilitate anonymous payments between holders who will then make an exchange in the ratio of 1:1 to receive a tradable token. Users can make the exchange via the swap form found on the website or via the official telegram bot.
The History of the Falcon Project
A group of blockchain enthusiasts conceived the idea of the Falcon Project. The team was looking to create an anonymous blockchain with a unique user reward system. The project was officially launched on 2nd February 2020, with the first FNT transaction made to a multi-signature wallet.
Falcon is an open project, thus allowing the community or new participants to give ideas on improving the ecosystem. A committed team runs the project as below.
Falcon Project Team
- Dmitriy aka Lavrus
Dmitriy is the Chief Executive Officer of Falcon Project and among co-founders of the project. He describes himself as “A man with a warm heart.” He has extensive experience in the blockchain space with a background in software development.
- Ivan Beroza
Ivan is the CTO and co-founder of the Falcon Project. He is a rich background in software development and loves coding.
Deadlinelogo is Falcon’s Project co-founder and Chief Creative Officer. He’s responsible for developing creative ideas to market the project.
- Alex Good
Alex Good is Falcon’s co-founder and the Chief Information Officer.
Why is the Falcon Project a Hidden Gem in the DeFi Sector?
Launched early this year, Falcon Project is an undiscovered gem that will change the dynamics in the DeFi sector. It’s a fantastic project with a mission to create a unique user reward system, a payment system based on the ERC-20 token, an anonymous blockchain, and integrate FNT and FNC into everyday life for payment of goods and services.
Falcon Project will bring about the full anonymity of blockchain networks allowing you to conduct transactions or receive payments in complete privacy. In the Falcon ecosystem, you can either choose to use the FNT ERC-20 token to receive dividends from Falcon vouchers or remain completely anonymous by using the FNC token. The FNC coin is an entirely anonymous token not listed or traded on any exchange.
Unique Reward System
The Falcon Project has a unique reward system. The platform leverages Proof of Hold (PoH) consensus algorithm, which is quite beneficial and efficient compared to other consensus algorithms such as PoW and PoS. PoH doesn’t require powerful computers, immense electricity, or staking requirements such as constant internet connection or permanent online account.
Falcon’s Proof of Hold technology involves two types of tokens: ERC-20 (FNT) and ERC-1155 (Vouchers), which are linked via an active exchange system. For the reward program, users can deposit at least 500,000 Falcon tokens or a multiple of them can exchange their tokens for an ERC-1155 voucher, equivalent to the amount he wants to freeze to receive HOLD awards in the amount of 10% once a quarter (3 months), which together makes up a return of 40% per annum. This is a very lucrative reward ideal for any avid crypto investor.
Falcon is an ambitious hybrid blockchain project that aims to create liquidity for an anonymous blockchain. The project’s strengths lie with the unique reward system and allowing users to either use the ERC-20 tokens (FNT) with unrestricted listings on all major exchanges or make transactions with an increased degree of privacy and maximum security using the FNC coin. The project is still under continuous development and will definitely be something to watch in the rapidly growing DeFi sector.