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. Educating newcomers about cryptocurrency, staking, mining, NFT, and Masternodes. FYD has its own live blockchain, never had a pre-sale, ICO or IEO and is funded by the community and automated treasury.



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



In addition to transacting value, FYD can also be used to store value. There is a maximum supply (650M) and holders can stake FYDcoin with any household PC or laptop to mint cryptocurrency. FYD coins can be tracked on a decentralized ledger or blockchain explorer which is online available for everyone.



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 without the need for a trusted third party such as a bank

* Incentivizing stakers the support/security of the FYD chain

* FYD project development through the automated treasury

* 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 own private keys, stake FYD coin and set up Masternodes without the need for a third party platform.

* FYDme: An application where freelancers can connect with clients without the need for a third party such as fiverr or upwork.

* Staking ledger: A hardware wallet that is able to host a copy of the FYD blockchain and can stake FYDcoin for users without the need for a PC/Laptop or third party service.

* FYDswap: An application where users can swap FYD peer-to-peer for BTC and DASH without the need for a third party exchange

* FYDwiki: An online platform for newcomers into cryptocurrency. Articles, video’s and more general information for those that would like to do their due diligence.





## How Many FYD Coins Are There in Circulation?



FYD Protocol launched its mainnet on Mar 25 2019 09:37:54 with 650.000 FYD created at genesis. Currently there are 547,392,500.07 FYD, which were all minted by the community over 2.5 years. Starting at block 245,001, 10% of every blockreward is automatically redistributed to a community treasury to fund future development.



Currently 70% of the blockrewards are received by the FYD Masternodes (400K FYD collateral), 20% goes to the users that are staking FYDcoin. Currently there are 300M FYDcoin locked as collateral. The current reward for staking is 70 FYD, the current Masternode reward is 140 FYD and the current amount distributed to the community treasury is 10 FYD.



Every 526,001 blocks the blockrewards are reduced until the maximum supply has been reached. The maximum amount of FYD is hardcoded in the protocol at 650.000.000 FYDcoin. The last FYDcoin will be minted in approximately 7 years.