Africoin AFC Officially Launched
With the launch comes a new future for the Africoin. The Africoin is not like every other cryptocurrencies around the world; it is Africa's treasure and only Crypto, we must value it and price it above all others. We have tested several options within the last 6months and we have learnt a lot from the Africa dream.
We have been able to achieve some major milestones for the Africoin. A blockchain was achieved within 6months and also mining activities is ongoing to secure the network.
Firstly, we started an exchange to test out a free market system for the Crypto, we developed the AFCExchange, a novel exchange technology currently been licensed and used by 4 other major cryptocurrencies around the world. The community unbelievably drove the price per coin extremely low and prices plummet as low as $0.015. This singular price action sent a shock to the larger cryptocurrency community of merchants and partners.
To protect Africoin and also build upon the growth we have witnessed over the cause of the pre-launched period, the coin will henceforth have a benchmark price of $1/AFC. What this means is that the lowest you can trade the coin on the exchange is $1. We have also demanded that every listing exchange must trade the coin at $1/AFC. Though most international exchanges requested the coin be listed in their exchanges for as low as $0.0001/AFC given the price and volume activities at the AFCExchange.com. Listing the coin at this price will erode the little investors confidence and value the community have built over time.
Africoin is currently added on several exchanges around the world as a candidate coin and we hope they accept our pricing model and conditions. The coin will be listed on the coin marketcap soon as we are adjusting the AFCExchange to meet their listing and reporting requirements.
Now that Africoin has a trading benchmark of $1, there must be adjustments and new initiative to make this work. The community must work together as a team. Here are some important facts and adjustments that would be made within the next 48hours:
1.) With 1AFC trading at $1; there will be huge supply in the market as most members will want to hurriedly cashout. We are currently putting up measures to ensure that every member is able to evenly sell their coins at the AFCExchange.com. The Exchange will henceforth rotate sales across all sellers provided their prices is not higher than $1.
2.) Trading commission: The AFCExchange will now charge 10% per trade. This will raise the necessary funding needed to grow the eco-system rapidly through online and offline advertisements, workshops, trade fairs and conferences.
3.) Listing on Coin MarketCap: We are currently modifying the AFCExchange reporting system to meet the reporting pattern of the Coin MarketCap to enable Africoin to be listed on its platform.
4.) Merchants: There is a need to grow the eco-system to encourage merchants to accept Africoin as part of their payment options. We are already in talks with several merchants but the membership needs to grow to attract them on board.
5.) Affiliate & Referral Commissions: All members now earn 5% commission on every trade their downline executes. You get 5% whenever your downline buys or sells AFC. If every member can refer 10 other new member, we will be able to grow the eco-system large enough for better commerce.
6.) Blockchain: The AFC blockchain is currently been updated to increase fees to improve transfer success. Also, members will be able to transfer their coin to the AFCExchange.com within the next 24hours to enable them sell their coins on the exchange.
7.) Pending Blockchain Transfers: All pending blockchain transfers from the web wallet will be reversed and further transfers to the blockchain discontinued until the blockchain wallets are updated.
There is a need for all members to work together as a team to grow the Africoin eco-system. We need to increase the membership strength. At the moment, Africoin has a total membership of 7,000+ users. We need to rapidly grow the membership to 50,000 active coin holders by referring more new members.
The future of Africoin is in the hands of the members of this great community. Your time, ideas and commitment to the growth of Africoin is greatly needed to steer it to success.
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