Fire Capital
Fire Team aims to tackle one of biggest pain points for small investors in the crypto industry: the most successful projects in the space are not available for the small retail investor to purchase until they enter an exchange. As seen recently with Dfinity, seed round sold the tokens for 0.04 USD per token, while the retail investor had to pay a hefty 500 USD per token on Binance.
To solve this issue, Fire Team will register an LLC in a country with great tax benefits to manage the Fire Fund. The Fire Fund will be financed from the marketing wallet and will become household names, such as A16Z, Fenbushi Capital, Pantera Capital, Polychain Capital, in seed and private sales investments in the crypto industry.
Holders of Fire Token will have the power to vote in which projects the Fire Fund will invest through a voting mechanism, in which 1 Fire will equate to 1 Vote.
The reflection model plays very well into the governance mechanism because it rewards loyal votes to have more votes over time as opposed to new voters.
Fire holders will benefit because all profits from Fire Fund will be used to burn Fire tokens, which means all holders of Fire tokens will instantly benefit from the best deals in the whole industry!
How will it work?
The idea is to create a platform where Fire Token holders can connect their wallets to. After the wallet is connected, the platform reads the number of tokens a holder has, which will serve as voting credit to vote on the displayed projects. Voting to projects will have a minimum and maximum cap, a limited amount of votes per project, but you will be able to distribute your credit across different projects. So essentially, the more Fire Tokens you have, more significant your influence will be on deciding the projects we should invest in.
The funds used to invest in the projects chosen by the community will be pulled from the Fire’s Marketing Fund. Therefore, Tokens from the fund will be sold and invested in projects such as ICOs, Existing Projects and Charities.
It’s important to note that, unlike an Initial Public Offering (IPO), investing in an ICO won’t result in us having an ownership stake of the company we will be supporting. Instead, we will make studies to predict/find low valued currencies that will increase in worth later. The team behind the Fire Token project has enough experience to research and make such predictions; regardless, the final decision will be yours through voting.
Besides doing our research, projects will have the opportunity to apply for the investment fund; after that, they will be audited by the Fire Team and display only the best for voting.
Why are we doing this?
Imagine if we invest in projects that the consensus is that the project has enormous potential and will bring significant profits, projects such as the ones mentioned above; those investments will generate a long term investment opportunity for Fire Holders, not just a pump and dump, and will incentivise holders not to sell their Fire Tokens.
The profits gained from those investments will be reinvested in Fire to increase its value and promote it even further. Some of the reinvestment will add more liquidity or burn Fire tokens to make it more scarce.
