White Paper
(Version：1.0)
Preface
The Internet has developed into a massive amount of content information today. People are generating and consuming content all the time, people's lives are deeply integrating with the Internet, and the Internet is expanding with people's continuous participation, and has given birth to many Internet oligopolies. In the Web 2.0 era, users' privacy and data are grasped and utilized by the oligopoly companies and become the profit tools of the oligopoly companies. Users are subjected to various forms of censorship while suffering from the interests of the oligopolies.
With the development of various new technologies, returning the power of the Internet to the participants has become an important feature of Web 3.0. In the Web 3.0 era, people's social life is deeply integrated with the Internet. While users contribute content information, they should also enjoy the rights of contributors. Users regain the initiative: each person has individual ownership of the virtual world and the Internet, and users can refuse any request unless they voluntarily authorize it. The Internet is no longer in the hands of oligarchs, and user rights will return to the user.
We hope that in the Web 3.0 era, we can contribute our own strengths. We will create and rely on an open, decentralized development and operation organization to construct an ecosystem in which individual information rights belong to individuals. In this ecosystem, users have their own freedom and power. They can freely chat with like-minded people, and use their unique identities to consume, entertain, manage their own digital assets, etc. here.
What is FreechatDAO?
FreechatDAO is a decentralized development and operation organization, composed of global developers and users, anyone and any organization can participate in community governance.
FreechatDAO advocates freedom. In the FreechatDAO community, freedom, human rights, and privacy are inviolable basic user rights. Everyone has the guarantee of freedom of speech and private security and is free from any form of interference and censorship
We have developed some basic proposals around the Freechat project, covering decision-making mechanisms, human resource management, and community fund management. As the project progresses, all aspects of community governance will continue to be improved.
Vision: To become a decentralized, open, transparent, secure, free, and autonomous social network and community.
What is Freechat?
Freechat is a secure, private, and free social application based on Web 3.0 and blockchain technology. Freechat uses end-to-end encrypted communication to ensure users' privacy and freedom of communication and to ensure that users are free from any form of censorship. Freechat identifies users by DID without the need for private information such as mobile numbers, emails, etc., and Freechat has many innovations based on social applications, such as NFT-based avatars, and a blockchain-based friend rating and graph system.
Freechat is also a super ecosystem, containing a decentralized incentive advertising network, SNS, payment network, e-commerce, games, finance, etc. All Freechat's ecosystems and content are generated by users and owned by them, and they can earn revenue from them. Freechat terminal coverage includes IOS, Android, Mac, Windows, and other systems and devices coverage.
Official Website:
Freechat Business Distribution
Freechat business includes social, e-commerce, NFT, value-added business (virtual value-added business such as membership, feature membership), advertising, UGC, payment, Defi, games, etc. As the development progresses, more business ecosystems and functions will be born, and Freechat will become a social-based super application with a rich ecosystem.
Functions of Freechat
Social
Social networking is the core function of Freechat. The user's identity authentication is completed through blockchain technology, and the user's identity is recognized using the address.
In Freechat, users can have single chat, group chat, and audio and video calls with friends. Freechat's end-to-end encryption technology ensures the security and privacy of users while chatting, and ensures that users are not subject to any form of censorship.
Square
Square is the core function of Freechat, which allows users to share and record their lives through video, audio, pictures, text, and short videos anytime and anywhere, forming user-created content. Square pushes the content of interest to users through artificial intelligence and algorithms.
The Square feature is also an efficient way for Freechat users to meet new people. Through artificial intelligence and recommendation algorithms, Freechat users can always find new like-minded people.
Social Graph and Rating
Based on user behavior and data, Freechat forms a user-rated social graph and social rating that can be visualized with blockchain data and can be commented on. Each user has independent DID identity information and rating, and the user's social behavior will be rated, which can avoid robots, fraud, and bad social behavior to a certain extent. Through this technology, Freechat will form an excellent and high-quality user group.
Advertising Incentive Network
The ad incentive network is an incentive network that connects advertisers and users. The advertising fee will be proportionally distributed to all users who see the ads and interact with them, and the ad incentive network uses recommendation algorithms and artificial intelligence to recommend ads to potential target users and encourage users to interact with the ads in an incentive way to achieve the advertiser's promotion goal and user interaction goals at the same time.
Mini Programs
Mini Programs are the basic function of Freechat. Developers can create and operate Web 2.0 products and Dapps based on Mini Programs. Users can seamlessly use a large number of applications created by developers through FCID. Theoretically, Mini Programs are compatible with a large number of Web 2.0 programs and Dapps, covering almost all industries, and help developers transfer and upgrade to Web 3.0 applications.
E-Commerce
Freechat will establish a global e-commerce platform covering a large number of categories, such as 3C electronics, apparel, lifestyle products, etc., where users can seamlessly purchase products by using cryptocurrency.
NFT
NFT covers users, trading platforms, and content creation. Users can use NFT to create their own unique avatars. NFT includes such as emoticons, personalized avatars, etc.
The NFT trading platform allows creators to create and sell their own NFT content, and users can also obtain their favorite NFT through the trading platform.
The NFT trading platform not only connects users and creators but also connects developers, such as tradings of game props NFT.
Defi
Defi is a one-stop blockchain service provided by Freechat for users, including DEX, lending, wealth management, finance, pledge, and other services to facilitate users to invest in blockchain projects and some exchange services to help users get benefits.
UGC
Freechat attaches great importance to user-created content, including news, self-media, music, video, pictures, text, etc. Freechat uses algorithm recommendation and artificial intelligence to recommend favorite content for users.
Payment
Payment is an important function that helps users to use Freechat's settlement services in one stop, such as purchasing goods, gift cards, transferring, financial management, etc. Freechat will also cover offline payment scenarios and cross-application payment scenarios in the future.
Games
Freechat will become a game distribution platform. Freechat provides traffic， technical support, and Ads support for developers through massive user traffic, unified account authentication, and an encrypted currency payment system.
Open Platform
Freechat is not only a social application but also has a rich ecosystem. Based on its own ecosystem, Freechat will open a unified identity authentication platform, a unified encrypted payment platform, a unified content creation platform, a unified developer platform, and other data to empower many developers, create better Web 3.0 products, and provide users with excellent services.
More...
To be a decentralized, open, transparent, secure, free, and autonomous social network and community is our constant original intention and ideal. We not only serve our users but also connect many developers. We will continue to innovate and research new technologies and strive to innovate for the future of social.
What is Freechat Coin?
Freechat Coin is a circulating token used for Freechat and FreechatDAO community governance and application. The purpose of issuing Freechat Coin is to establish a series of decentralized applications in a decentralized way. Decentralized applications allow users to take control of their privacy and data. Freechat Coin contains a series of application governance rights, ownership rights, consumer rights, etc. As users and token holders grow, decentralized governance is gradually achieved.
Freechat Coin is also the circulating token of Freechat. Users can use Freechat Coin to consume in applications and many Web 3.0 and Dapps, such as purchasing goods, purchasing virtual rights, payment, purchasing gift cards, etc.
Name： Freechat Coin
Symbol： FCC
Total Supply：1,000,000,000
Decimals：18
Rights: community governance, consumption in Freechat, voting rights, community proposal rights, etc.
Contract Address： 0x171b1daefac13a0a3524fcb6beddc7b31e58e079
Contract Code：https://github.com/FreeChatDevelopment
Does Freechat Coin run on its own blockchain?
No, Freechat Coin is deployed on the Ethereum main net, the world's second-largest blockchain network. Freechat Coin is open source, and its distribution protocol standard is ERC20.
What makes Freechat Coin Unique?
Freechat Coin is a token based on the application value of Freechat and FreechatDAO. Freechat Coin is different from traditional tokens. It is a token created without any algorithm or the traditional token system. It has rich application value. Users and partners can use Freechat Coin in the app, such as purchasing NFT avatars, purchasing value-added services (such as membership, games, and other virtual rights), purchasing goods, creating virtual consumer cards, payments, etc. Compared with Web 2.0 products, Freechat is like Tencent's Q Coin.
Freechat Coin is also the community's governance token. Users with governance tokens will participate jointly in accomplishing community governance and other tasks, as well as deciding on essential matters of community work.
What is the formula for rewarding users?
Freechat Coin is a token based on application value. It has commodity value because of Freechat's social attributes, and it also represents a variety of rights and interests, such as community governance rights, voting rights, ownership, consumption rights, circulation rights, payment rights, ownership rights, etc.
Freechat Coin is an expression of Freechat's market value, and its value is determined by users. Users can earn corresponding Freechat coins by staking.
Freechat Coin's economic model(below)
From the above graph, it can be concluded that the more Freechat earns, the higher the value of the corresponding Freechat Coin.
Freechat Coin Reward Distribution Method
Freechat Coin rewards are paid out in the form of staking, whereby users stake their Freechat Coin holdings to receive additional token rewards.
Freechat Coin rewards are paid out in days, and the annual reward payout cycle is 360 days. Each year, the rewards are audited and deposited into the Freechat Coin reward pool, and the daily reward quantity is calculated based on the total amount of FCC staked by the user for reward payout.
The calculation formula is as follows:
Formula Variables:
Freechat Total Income=X(X refers to the income after deducting Freechat COGS, debts, commissions, Depreciation, Amortization, etc.)
Community Governance and Operating Expenses=Y
Net Income=Z
Total Amount of FCC Staked=G
Net Income Rewards per FCC=F
Amount of FCC Staked by each User=D
User Staking Net Income Rewards=K
Staking Time= 360 days
Calculation Formula of Net Income Rewards per FCC ：
（X-Y）= Z
Z / G / 360 = F（Day）
Calculation Formula of User Staking Net Income Rewards：
F * D = K （Day）
Freechat Coin Holdings Data
FreechatDAO Community
FCC Held by the Community：285,000,000
Percentage of Total：28.5%
Address：0x9e9839dffe5c779e232be11874f80ce3fb5a28f8
Lockup Restriction： None.
Comments: The tokens held by the community are used for community governance, Freechat operations, and to pay the community development team salaries.
Restrictions: Community use of FCC tokens must be determined by community proposal
FreechatDAO Development Team
FCC Held by the Development Team：200,000,000
Percentage of Total：20%
Address：0xffea96598a93a8523dbcf318fdef78f3d93892f0
Comments: Used to reward community development teams for their development contributions
Lockup Restrictions: Milestone Release
Unlock Conditions：
Phase I： Freechat Release. Unlock Amount：10%
Phase 2：Freechat reaches 2 million users. Unlock Amount：20%
Phase 3：Freechat hits $10 million in revenue. Unlock Amount：20%
Phase 4：Freechat hits $1 billion market cap. Unlock Amount：50%
Each phase is parallel and will be unlocked by the development team through a community proposal if the milestone unlocking terms are met.
Note： The FreechatDAO development team's tokens will be unlocked with time and project progress. The distribution of project tokens can be queried at any time through the FIP-161 proposal.
FreechatDAO Community Incentives
FCC：15,000,000
Percentage of Total：1.5%
Address：0x53f634e055f80EcEa8d3a89e32320AfecF8ce8Ae
Comments: Used to reward community developers for their development contributions.
Lockup Restrictions: Linear Release.
Note： The tokens will be released linearly over time. The distribution of project tokens can be queried at any time through the FIP-161 proposal.
Investors
FCC Held by the Investors：300,000,000
Percentage of Total：30%
Address：0x2d8935fe725d4111d32e7f487978e3bdbf939d0a
Comments: Tokens held by FreechatDAO and Freechat's seed round and angel round investors
Lockup Restrictions: Linear Release.
Note： The tokens will be released linearly over time. The distribution of project tokens can be queried at any time through the FIP-161 proposal.
Market Circulation
FCC Held by the Market：200,000,000
Percentage of Total：20%
FCC Liquidity Provider Address：0xce340ed98522bbfc131ea0d2d29d2e2604992cce
Comments: Tokens circulated in the DEX market
Restrictions: None
Consultants
FCC Held by the Consultants：5,000,000
Percentage of Total：0.5%
Address(held by the community)：0x9e9839dffe5c779e232be11874f80ce3fb5a28f8
Comments： Rewards for contributions that help FreechatDAO and Freechat grow.
Restrictions: The community needs to make proposals for the use.
Freechat Coin Investor Protection and Disclosure Terms
The founding team and investors must strictly adhere to these terms and conditions, exercise due diligence and ethics in accordance with the Community Code, and comply with the limitations of the terms and conditions.
1. When the founding team and project investors reduce their holdings of Freechat Coin (FCC), they must disclose the amount and time of the reduced tokens through the community investor relations platform.
2. When the founding team and project investors reduce their holdings of Freechat Coin (FCC), the converted value of each reduction should not exceed 1% of the market value of Freechat.
3. When the founding team and project investors reduce their holdings of Freechat Coin (FCC), the interval between each shareholding reduction must exceed 6 months.
4. When the founding team and project investors reduce their holdings of Freechat Coin (FCC), the reduction of more than 1% of Freechat's market value can be decided by initiating community proposals for voting.
5. Project affiliates (including project investors, and the founding team) must disclose relevant holding information through the investor relations platform when increasing Freechat Coin (FCC)。
6. Project affiliates (including project investors, and the founding team) are required to make disclosures (including market sales, purchases, transfers, stakings, and other wallet operations) when transferring wallet tokens to ensure transparency and openness.
Penalties and Restrictions：
For undisclosed shareholding reduction, the community will confiscate the obtained shareholding reduction funds and impose a fine based on 20% of the shareholding reduction amount. The income from holding reduction and the penalty will be collected by the community, and at the same time, the qualification for obtaining unissued tokens will be canceled.
Investor Inquiries：
Public information inquiries can be made through the following links：
Terms Effective Time：
Freechat coin investor protection and disclosure terms are valid until August 22, 2025.
After the effective time of the terms expires, actions such as shareholding reduction and increase are no longer bound by this clause and can be traded on their own.
Ways to disclose relevant information：
The founding team needs to disclose relevant information through Snapshot and FIP-9 information proposal.
Snapshot Disclosure Platform：
Description: The FIP-9 proposal number is related to the reduction and increase of holdings
Disclosure Proposal Review and Archive Links:
Chinese：https://fips.freechat.world/jian-ti-zhong-wen/fip-9
English：https://fips.freechat.world/english/fip-9-informative-proposal
Freechat Development Roadmap
2022-08-22
FreechatDAO community established
Freechat Coin issued
Started Freechat development
The community entered the operation stage
Completed seed round of funding
2022-12-22
Freechat completed the development of the basic core and went live
FreechatDAO community governance improved
2022-12-23
Conducted a one-year community staking airdrop
2023-12-23
End the staking airdrop and switch to annual staking rewards release
Complete decentralized governance
Start the research and development of Freechain L1 decentralized social network
2024-12-23
Freechat ecosystems development complete
Freechat development work complete
Freechain L1 test net goes live
2025-06-31
Freechain L1 goes live, welcoming the future social era of Web 3.0
Freechain L1 Infrastructure
Freechain is a Web 3.0 social network infrastructure, which uses repeaters to distribute and decentralize the transmission of social messages and the operation of related network infrastructure. Anyone can run a repeater to provide repeater services for Freechain and perform decentralized verification for Freechain. Freechain's public chain is currently in the research stage.
FreechatDAO Development Team
Jack Long
Founder and CEO of FreechatDAO community, responsible for community governance, product development, community operations, and market. A serial entrepreneur with nearly 10 years of entrepreneurial experience, was the largest bitcoin miner in western China. He has led the development of several products, with product revenue exceeding hundreds of millions of RMB, and has experience in product development for hundreds of millions of users.
Danny Guo
Co-founder of FreechatDAO community, as CTO, responsible for product development and cutting-edge technology research. American Association for Computing Machinery (ACM) Blockchain and Information Confidentiality Committee, once worked in Tencent, promoted the research and development efficiency of nearly 4,000+ engineers, and is now responsible for the technical research and development of IM, game, and other products.
Mia
Co-founder of FreechatDAO community, CMO, in charge of Freechat marketing operation and brand promotion. Many years of overseas working and living experience, as an independent designer, and brand founder. Deeply involved in the global fashion design field, and Internet field. Has rich experience in brand promotion, product design, and market development. Has worked with many international brands and celebrities.
Neilson Lee
Co-founder and angel investor of FreechatDAO community, responsible for community investment and financing. He has worked with Jack Long for nearly 6 years and has more than 30 years of experience in TMT industry, with a deep understanding of products and full lifecycle solutions in TMT field. He mainly focuses on and participates in early-stage projects in the mobile internet field, and has been accompanying the team's growth, with the team role focusing on business development planning and organizational governance.
Paul
Co-founder of the FreechatDAO community, as a front-end development engineer, responsible for the front-end research and development of Freechat. With many years of experience in large Chinese Internet companies, he has participated in product development with over 100 million daily active users and has led a team to build a large-scale business system from zero to one. He has a deep understanding of web system architecture.
Ken Kang
Co-founder of FreechatDAO community, as Freechat full-stack development engineer, responsible for Freechat product development. He has worked in large Chinese Internet companies such as Xiaomi and Baidu. With many years of experience in large-scale project development, he has participated in and led the development of products with the daily activity of over 100 million, and the average daily consultation volume of R&D and consultation IM business exceeds 2 million. Has rich experience in enterprise-level application architecture design and cloud service integration implementation.
JoJo
Co-founder of FreechatDAO community, responsible for IM product design and development of Freechat community. He was the technical leader of the startup team and led the development of products with 100,000+ new users per day and over 10 million downloads. Worked for Tencent, and promoted the R&D efficiency of many BGs.
Jimmy Jing
FreechatDAO co-founder, Freechat senior operation and maintenance engineer, worked for Kingsoft, responsible for the daily PV 60 million operations and maintenance system. He has deep research in high concurrency and high availability architecture, operation and maintenance automation, k8s, and other fields. He is responsible for Freechat operation and maintenance architecture.
August Wang
Co-founder of FreechatDAO community, as a senior development engineer, responsible for the core product development work. Worked for Baidu and participated in the development of the billion users project development. With many years of Internet experience, five years of blockchain industry experience, and in-depth research on the Web 3.0 industry, now responsible for the technical development of IM, Pledges, Freechain, and other products.
00W
Co-founder of FreechatDAO community, as UI&UX designer, with years of UI&UX design experience, participated in and led the design of many large-scale projects. Now is leading the design work of products and projects, responsible for interaction flow, interface visual design, user experience optimization, developing product design specifications, and unifying product visual identity system.
00L
Co-founder of FreechatDAO community, as a UI & UX designer, with 8 years of UI & UX design experience, mainly responsible for the overall visual style design and interaction design of community products, participating in user research, demand sorting, formulating and maintaining product design specifications, and unifying product vision identification system.
Toby
Co-founder of FreechatDAO community, as Freechat senior test engineer, responsible for community product testing. 10+ years of testing experience. Served as a test developer, test supervisor, and other positions, engaged in automation testing, performance testing, and other related work. Proficient in Python, Python test development, LoadRunner/Jmeter performance testing, interface testing, and has extensive testing experience in automated testing and performance testing.
Usher
Co-founder of the FreechatDAO community, as a senior Android engineer, responsible for product development and technology pre-research on the Android platform. Has many years of experience in Android application development, once worked for a listed Internet company and has experience in application development with tens of millions of daily activities.
Ti4n
Co-founder of FreechatDAO community, as the head of Android development, responsible for Android development, Android-related technology research, and Google-related new technology follow-up. He has led the development of social software with millions of users. Now he is responsible for the technical development of IM products.
UN
FreechatDAO community co-founder, as the head of IOS development, has rich iOS development technology and years of development experience, Apple products are involved, including there are iPhone, iPad, Apple TV, Apple Watch, and other terminals. Has been involved in industries including blockchain, IPTV, IoT, etc. Worked for Gree and led client development for various IoT-related projects. Currently, is responsible for the iOS part of Feechat client development.
TT
FreechatDAO community co-founder, and the product manager of Freechat, responsible for the product design. Has been working in the Internet field for many years and has led the design of several large-scale projects, and the enterprise-level products he designed have brought tens of millions of RMB to the enterprises. He has led the design of large-scale artificial intelligence projects with more than one billion investment.
Related Information
Freechat Official Website：https://Freechat.world
Community Governance： https://snapshot.org/#/freechatdao.eth
Community Agreement Terms： https://docs.freechat.world
Project Open Source Repository： https://github.com/FreeChatDevelopment
Token Economics and White Paper： https://docs.freechat.world/jian-ti-zhong-wen/freechatdao/bai-pi-shu
Freechat Twitter Official Group： https://twitter.com/freechat_app
Freechat Chinese Official Group：https://s.freechat.world/6cEgqXUi
Freechat English Official Group：https://s.freechat.world/NFBEg6nj
Etherscan：https://etherscan.io/token/0x171b1daefac13a0a3524fcb6beddc7b31e58e079
Freechat Operation Data：https://www.freechat.world/#/fdao/operation
Last updated
