You might have followed my Drip journey in the last few days. And as we are already on the road through the Defi landscape, why not just visit another popular destination, which got quite some traction lately. Some of you might guess already, what I am talking about. Yes, you are absolutely right: Lets also stop by at the Furio Website.
What is Furio?
That is the main question we like to answer today. I don’t know much about it either yet, so lets explore it together. If we navigate to the the website, we see in big bold letters
- Sustainable Taxation
- Team Building Referrals
- Compound Interest
- Deflationary Tokenomics
- Variable Up to 2.5% Rewards System
- Anti Dump Mechanics
Some of the points sound very familiar compared to the Drip system. It is even mentioned in the Furio FAQ that Drip had a big influence when the system was designed, of course the team implemented improvements given the experience gained with Drip. Some of the features sound very promising already. So lets look at all these points in further details and see if they really deliver on their promise. Lets have a look at the Whitepaper. Furio in a nutshell so far:
A deflationary token providing daily rewards up to 2.5%, low(er) taxes as it sounds like, and a referral system. So far so good.
The Whitepaper in summary
Before going into the details, I have to mention that the Website and the Whitepaper look stunning: Great design, great layout, very well marketed overall. Lets see what is behind the great design and lets dive a bit deeper and collect some facts about Furio.
My intention at the beginning was to go into every detail of the Whitepaper, but this would be way too much for a single article. So I keep it high-level for the moment and will go into the details in separate articles. Besides the high level overview we will look only a bit closer at the variable reward system, which is probably the most interesting part for most people.
The $FUR token is a BEP-20 token which sits on the BNB chain. I guess that makes it very easy for most people to join the system, as the BNB chain is very popular nowadays and people interact with it on a regular basis. All Drips users as a potential costumer base are on the BNB chain already.
It is mention in the Whitepaper that the $FUR token got a maximum supply of 1’000’000 token, which should create scarcity. That’s what is written on page 3. If you jump to the next page, you can read that should the tax pool get into a rare situation and run out of liquidity to pay the rewards, there is the option to mint new $FUR tokens. So it sounds like the 1 million limit is not really set in stone as it was stated earlier on.
Furio.io got its own swap function called “Furswap”, where you can buy and sell the $FUR tokens. You need USDC for these transactions.
The “Furvault” seams to be the heart (or brain?) of the system where you deposit your purchased $FUR tokens and also claim or compound your daily return. This sounds pretty much like Drip. The difference is that the daily return is not fixed. The daily % varies between 0.5 and 2.5% depending on your compound and/or claim schedule. Lets have a closer look at this further down.
Also Furio got a maximum claim limit like Drip: Here it is either 360% of your initial principal amount or 100k max. payout through compounding.
Furio’s liquidity is provided via FUR-USDC on Pancakeswap
Taxes are also the blood of the Furio system and that’s how the rewards are paid as we learned above already. Taxes are applied on most of the transactions one can do and are mostly 10%. Only exception is if you compound your reward. There are also Anti-Dump-Mechanics involved which are literally very high tax rates (up to 50%) if you sell more then 25% of your tokens. This is especially designed to ensure price stability. Furio got also a burn mechanism implemented applied on most of the transactions, as you see on the image below, making it a deflationary system. On the usual transactions the following taxes apply:
If you are planning to build a team, a team wallet got a least 5 members, you need to purchase NFTs to get rewards from your down line. How many NFT’s you need depends on the depths of the down line. It is actually quite simple: For each level you need an NFT. If your downline got 3 levels, you need 3 NFTs. If you got a huge downline of 12 levels, you need 12 NFT’s. The round robin system applies also on Furio.
Furio got also quite an interesting roadmap within their Whitepaper which lays out many deliverables planned in the coming months or even years. This includes milestones like buying $FUR directly with your credit card, an NFT marketplace and also spreading the Furio ecosystem to further blockchains beyond the BNB chain. Quite interesting stuff to be honest. This should hopefully add real functionality to the token, which should help in its price going forward.
Alright, I think I have covered the most important aspects of the system on a high level. If not, please comment below. Which is always appreciated. Lets have now a closer look at the reward system as promised.
Variable reward system
So Furio promises daily rewards of up to 2.5%. To really achieve this 2.5% you have to meet a few criteria around your compounding schedule. I think the message from the table below and with that from Furio is pretty clear: The more you compound and the less you claim, the more reward you are paid. Or in other words: Remove no liquidity (or as little as you need) from the system and you will get rewarded accordingly.
So what happens if you compound only once a week? I mean, not everybody thinks about compounding their rewards on a daily basis. At least I don’t. The answer comes also in the White paper. Let me include it for you:
- New participants will start at 6:1 1.75% but go to 1.0% if they break this pattern before the 28 day cycle is complete.
- Positive participants over a rolling 28 days will be guaranteed a minimum of 1% rewards.
- Positive participants with over 20 rolling compounds in a 28 day rolling period will increase to 1.25% rewards.
- Positive participants with over 24 rolling compounds in a 28 day rolling period will increase to 1.75% rewards.
- Positive participants with 28 rolling compounds will increase to 2.5% rewards.
So you really have to compound pretty much on a daily basis to reach the 2.5%. Well, also the 1.75% sound enough interesting suddenly….
What concerns me a bit is the following part:
“Negative participants will be penalised and once you drop to the lower level you CANNOT come back up. Beware the system penalises bad participants, you have to have been a bad player for a period of time before you are penalised, you will then stay in the project at the lower levels.”
I assume that does not count if you forget to compound, but if you claim too regularly. It is also clearly stated that if you claim 7 days in a row you will be taken straight to 0.5% level. So keep that in mind. Crucial to keep that in mind.
Conclusion
So Furio seems to be an interesting player in this compound system landscape. It got some juicy improvements over Drip, some measures to protect its revenue streams, which seem to be pretty strict even I have the impression. I guess, time will tell how successful the system will be over time.
Will I invest? Well, I got now a high-level overview of the system, I hope you too, but will dive deeper into its functionality in the coming days. In a first step I invested a tiny amount to get more familiar with the system and will at the same time invest more time into it. Will I invest further money as a second step? Quite possible. To be honest I really like some aspects of the system…. more Furio articles to follow soon.
Referrer link
Yeah, you probably expected it: If you also like to follow me on that journey to destination “Furio”, please feel free to use my referral link below. Thank you.
https://app.furio.io?ref=0xb3C253D80578f569cFd4fe2E916EDbF01B384577