FYDCOIN (FYD)

What Is FYD (FYD)?

FYD is an online community of freelancers and crypto enthusiasts working together to realize a decentralized gig economy utilizing the advantages of web dApps, blockchain, and cryptocurrency. FYD has its live blockchain, never had a pre-sale, ICO, or IEO, and is funded by the community and an automated treasury.

FYD coin is an open-source cryptocurrency designed for digital freelancers such as web designers, programmers, animators, writers, and online content creators. FYD coins are digital currencies (cryptocurrencies) that can be sent from person to person without a bank. How does FYD work? Fast transactions (confirmed in under a minute) and low transaction fees (under $0.0001) make FYDcoin usable for P2P microtransactions necessary in the gig economy.

FYD coin is the native currency that is used for:

• Medium of rapid micro-exchanges between users, third-party platforms, and FYD’s native applications.
• Incentivizing stakers for supporting and securing the FYD chain.
• Decentralized governance (on-chain).
• Store of value (finite supply and yearly halving).
• Eco-friendly mining alternative (Proof-of-Stake algorithm).

FYD Native Applications

• FYD Wallet: A simple-to-use desktop wallet that allows users to keep their private keys, stake FYD coins, and set up Masternodes without needing a third-party platform.
• FYDme: An application where freelancers can connect with clients without requiring third-party intermediaries like Fiverr or Upwork.
• FYDswap: A platform for peer-to-peer FYD swaps for BTC and DASH without a third-party exchange.
• FYDwiki: An online platform offering cryptocurrency education, including articles, videos, and general information for newcomers.

What Makes FYDcoin Unique?

FYD combines the strengths of larger-cap protocols to create a customized solution:

• Bitcoin: FYD adopts a finite supply and yearly halving to promote scarcity. There will only ever be 650 million FYDcoins.
• DASH: FYD utilizes Masternodes to secure the network and enables instant send and governance features.
• PivX: FYD implements staking for smaller users, making it accessible to more participants.

Who Are the Founders of FYD Protocol?

FYD, like Bitcoin, is not owned by a single entity. The project was initially abandoned by its developer, who sold the pre-mined coins. It was then continued by a decentralized community.

FYDcoin has been trading on exchanges since its first week. As the project progressed, the initial developer handed over control to the community and sold the remaining coins on exchanges. This allowed community members to buy in, stake FYDcoins, or set up Masternodes to generate additional FYDcoins.

With a diverse group of crypto enthusiasts and freelancers holding a fair share of the coins without an ICO or IEO, the progression of FYD benefits the community. To further development, a community treasury was implemented in the protocol at block 245,001, following a community vote.