FZT Token
- FZT stands for 'Forex Zone Token'. It is a tokenized representation of Forex Zone forum points.
- 1 forum point is equivalent to 1 FZT.
- Token ID = 13240027460799312630
- Powered by the Signum blockchain
Benefits- Daily Signa coin payouts to FZT holders
- Staking Pool available
- Automatic posting bonuses
- Weekly FZT contest
- More flexibility than points residing on the forum
- FZT on the blockchain may be more safer
- More benefits may be added later
Why FZT?- Members can transfer forum points to their own personal Signa address in the form of FZT. These FZT tokens will then reside on the Signum blockchain instead of on the forum. The FZT can then be saved, transferred, or sold as the holder desires.
- Storing forum points in a Signa address may be considered to be more safer since the Signum blockchain is decentralized and secure. For example, someone may want to take their points off the forum because of fear of hacking, DDOS attacks, or something else. So this member would rather have their points in the form of FZT in their own wallet which reduces the risk.
- FZT can be freely traded on a DEX with the opportunity to make profit (eg. buying low and selling high).
- FZT increases the popularity of the forum.
- FZT gives people an incentive to be more active on the forum.
- Custom tokens such as FZT give more value to the Signum blockchain.
How To Get FZTQuestions/AnswersQuestion) Why should I trust you?
Answer) The Forex Zone forum has been operating for years. You can view thousands of payments from the Forex Zone on the Signum blockchain (
S-CU6T-TX64-9DG7-22U27 &
S-XR5F-LY22-TZBG-8HUJ8 ), which is publicly available information. Proof of other payments are also available on the forum. We also have a Signa Vault (
S-YMWQ-DR3A-US95-AA54F ). Every hour 100 Signa is deposited to this wallet. It is meant for long-term storage of Signa. In the rare event something ever happens to the other 2 wallets, this vault will be used as backup. lt will only be accessed when necessary for higher security. So we are well-funded for FZT and other bonuses and contests too! However, trust isn't even being asked for because using FZT is
OPTIONAL. Also, forum points are given away
FREE. No purchase or investment is necessary.
Question) Do I need a forum account to participate?
Answer) No, you do not need a forum account. You can get FZT on the open market or from someone you know. The daily payout is also sent to
all holders automatically regardless of forum account status.
Question) How can I trade FZT?
Answer) FZT can be traded free and fast on
SignumSwap,
BTDEX, and
Signum Node. No registration or KYC is necessary.
Question) What is the difference between SignumSwap, BTDEX, and Signum Node?
Answer) SignumSwap is an online portal which you can use to securely connect your XT Wallet using a browser extension. You can then perform certain actions like buying or selling tokens in just a couple clicks. You can see good charting there too. BTDEX is a multi-purpose platform that can even be used for mining. It's a separate application that needs to be installed and run on your computer. For Signum Node, it may take more time to setup since it is the full node software for the Signum blockchain. You can either download the entire blockchain to your device, which isn't necessary unless you want to run a full node, or you can use a web version provided from one of the official Signum nodes. There are several
featured nodes to choose from.
Question) How can I get FZT to show up in my wallet?
Answer) This can be done in only a few steps. These steps usually only need done one time.
BTDEX: If this is your first time trading FZT on BTDEX, you will need to add FZT to your list. Select the 'Swaps' tab. Then click on the 'Market' box. This will expand a dropdown box. Then select 'Add'. Copy/paste the FZT ID which is 13240027460799312630 into the window that appears and select 'OK'. See attachment below.
Signum Node: On the left side of the screen, select the 'Asset Exchange' tab. If you currently own FZT, it will be displayed in your list on the left side of the screen. You can then proceed with trading at the exchange. If you do not currently own FZT and it's not in your list, you will need to add it. To do this, go to the upper right side of the screen and click on the 'Add Asset' button. Then copy/paste the FZT ID which is 13240027460799312630 into the window that pops up and then click the 'Add Asset' button.
Question) Where can I see more information about FZT?
Answer) The most up-to-date information will be posted here in the 1st post on this forum. You can also view some basic information like current prices and trade history from within SignumSwap, BTDEX, or Signum Node. You can view more details on one of the Signum explorers. Here is the link to the
recommended Signum explorer.
Question) Are the daily payouts done every day - even on the weekends and holidays?
Answer) Yes, but in the rare event a daily payout is not sent for some unforeseen reason, it will be done as soon as possible.
Question) What is the daily payout amount?
Answer) The daily payout is currently 1000 Signa coins total, which is then split proportionally among FTZ holders.
Question) How is my daily Signa payout calculated?
Answer) The Signa payouts are proportional to the amount of FZT held by someone. So it's a simple formula like this: (# FZT held by you / total circulating supply) * daily payout amount.
Example: You hold 10000 FZT and the total circulating supply is 1000000. So this means you hold 1%. Therefore, you would receive 1% of the payout which is 10 Signa.
Note: The tokens held by Forex Zone are not included in the formula. The circulating supply from other FZT holders is used.
Question) What is the difference between total supply and circulating supply?
Answer) The total supply is 7 million and this is the total number of FZT that will ever exist. Circulating supply is the number of FZT that have been released and which are held by individual holders. Circulating supply is the number that is used for daily payout calculations. The FZT held by Forex Zone are not used in calculating payouts since those FZT are not considered to be circulating. Please note, if Forex Zone ever buys back FZT from the market, these are also not considered as circulating anymore.
Question) What time every day will the Signa be sent out for all FZT holders?
Answer) There is no set time every day, but just know it will happen once per day.
Question) What are the differences between the
staking pool and just holding FZT directly?
Answer) The staking pool is controlled by smart contract. It is automatic and trustless. On the other hand, the FZT daily payout is sent manually by a real person every day. The Forex Zone has never missed a daily payout so far! But if you are someone who would rather your payouts be extra reliable then the staking pool is better for you.
The staking pool also pays out every block (4 mins). Direct FZT holders get paid once per day.
The staking pool has a higher potential payout since it pays 14 Signa every block. There are 360 blocks in a day. So 14*360 = 5040 Signa per day. Direct FZT holders are issued a total of 1000 Signa per day.
Direct FZT holders can participate in automatic posting bonuses here on the forum. Members of the staking pool cannot.
Direct FZT holders are automatically entered into the weekly FZT contest. Members of the staking pool are not.
Question) Who is the staking pool ideal for?
Answer) If you do not want to participate in the weekly FZT contest or if you do not plan on posting a lot on this forum and receiving posting rewards, it might be better to send your FZT to the staking pool.
If you want a more trustless and automatic payout for your FZT holding then the staking pool is ideal since it's handled by smart contract.
If you would like to lock in Signa every block instead of waiting a day then the staking pool is ideal for you.
Question) Can FZT be re-imported back into the forum in the form of points?
Answer) No
Question) How do I convert my forum points to FZT?
Answer) This is currently a manual process performed by Forex Zone Administration. Please send a PM to Admin or send an email to 'admin@forex.zone' to do this. Include your Signa wallet address and the amount of FZT you want.
Question) How long does it take to receive my FZT?
Answer) Since it is a manual process, all requests will be processed as soon as possible. It may take minutes or it might take hours. It depends on certain factors such as current workload and time of day your request is received. Please be patient. If you would like the tokens faster, you can get them on the open market.
Question) Will the Forex Zone trade FZT?
Answer) Yes, because this will increase liquidity. Without liquidity, someone might want to buy FZT but there are no sellers or someone might want to sell FZT but there are no buyers.
Question) Will the Forex Zone just dump all it's FZT?
Answer) No, because it might break the whole system if all available FZT were all to be sold. Since FZT is the same as forum points, there needs to be enough FZT available to cover any future forum points generated by members. If ever there is a time when there are no available FZT that can be issued, then the only way to get them would be to buy them back. So it makes no sense to just dump all FZT on the market. This is a long-term project that is meant to be sustainable.
Question) Are there any risks involved?
Answer) There is risk with many things in life. Every time we eat food, there is risk there will be harmful bacteria, viruses, or toxins in the food. FZT may be obtained
FREE. And participation is
OPTIONAL. There are external factors such as new regulations, changes to the Signum blockchain, and so on that may cause risk to FZT. No guarantees or promises are being made.
Question) Will the price of FZT increase or decrease over time?
Answer) There are many factors that may affect the price which are outside the control of Forex Zone. For example, trading activity on the decentralized exchange. Holders are free to do as they want with FZT. No trading or investment advice will be given. You must review all the details and come to your own conclusion.
Related Links:Terms:- FZT are a tokenized representation of Forex Zone Points. Therefore, the terms of the Forex Zone Points System should be read and followed.
- FZT may be paused or suspended due to legal or regulatory issues.
- Participation is OPTIONAL and done according to your own will.
- FZT may be received FREE. No investment or purchase is necessary.
- FZT are not being offered in exchange for ownership in the Forex Zone forum, it's parent company, or any of it's affiliates.
- FZT are not being offered in exchange for debt.
- No guarantees or warranties of any kind are being offered.
- You are responsible for the accounting and recording of your own FZT, if any, that you receive for tax purposes. We will not send out tax forms or get involved with your taxes unless it becomes legally mandatory to do so.
- Under no circumstances will we be held liable for any damages or losses you incur by participating.
- The terms and conditions related to FZT may change at any time. You are responsible for checking back here for updated terms or conditions, if any. It's best to have email notifications enabled so you stay informed.
- If you do not agree with all the terms, do not participate.
Linkback: https://www.forex.zone/coins-and-tokens/20/forex-zone-token-fzt/3319/