FolmCoin Significant Changes

Dear Folm community,
As you all probably already heard, we started discussion and preparation to significant changes in Folm blockchain solution.

    Those changes were mainly driven by two issues:

    Unbalanced coin supply causing unnecessary pressure to the FLM price

    Technical issues which blocks further FolmBank development coming out of current blockchain realization

    Having internal discussions and external consultancy support, we come to the following strategic decisions:

    1. FOLM will build new blockchain and perform coin swap

    - New blockchain will keep same block time and block size
    - New blockchain will reduce block rewards
    - New blockchain will introduce new cryptographic algorithm
    - New blockchain will focus on Masternodes and PoS

    2. FOLM will introduce multi-tier masternodes structure which is better aligned with FOLM solution structure (case may be change)

    - Tier-1 will address easy access to the FOLM investments
    - Tier-2 will improve overall blockchain stability and accessibility
    - Tier-3 will be high-grade qualified nodes used as FolmContract Approval Authority

    3. Swap campaign will be prepared in advance and will not happen immediately

    - Swap will be done using on beta FolmBank platform.
    - Swap will happen for long enough period, but still for a limited timeframe
    - Current blockchain seed nodes will be supported until end of swap campaign

☛Anticipating your questions, we would like to mention that number of decision with regards to new blockchain still to be taken in following weeks, e.g.:

- Maximum coin supply
- MN collateral amount for each tier
- MN block reward for each tier
- PoS block reward
- Swap ratio
- Swap timeframe

☛We thoroughly checking all dependencies finding the best balance between network performance and investment attractiveness of our FOLM platform. Special thanks to our Supporters team, who challenge us to address all the possible topics to create the best crypto bank for you.

Welcome to the FolmEvolution Sincerely,FolmTeam