The F42 tokens represent the share capital of FinTelegram Investors Protection Ltd (“FinTelegram”) and thus ownership. The F42 tokens are the tokenized FinTelegram shares and were generated via a smart contract on the Binance Smart Chain (BSC). Whistleblowers can earn ownership of FinTelegram by providing information.
The F42 tokens being proxies for the shares represent the rights associated with these shares. These include
- the right of voting in shareholder meetings and other voting events,
- the right to receive (special) dividends,
- the right to participate in value creation, and
- the right to sell and trade with the shares.
Asset-backed tokens and intrinsic value
FinTelegram has a share capital of five million ordinary shares pledged as collateral for the 50 million F42 tokens issued. Thus, the F42 is an asset-backed token, i.e., backed by the FinTelegram shares. The intrinsic value of F42 tokens is the enterprise value of FinTelegram.
Of the 50 million issued F42 tokens, 15 million, or 30%, have been made available for the F42 Whistleblower Reward Program.
Wallets – Online or Blockchain
The F42 tokens can be managed online (and off-chain) on the Whistle42 website by the owners or on-chain and decentralized via the Trust Wallet or MetaMask apps. These wallet apps are available for Android and Apple and are general-purpose wallets for the management of cryptocurrencies.
Please note that the F42 tokenization project is still in an experimental stage with minimal functions and many restrictions.
The F42 tokens have been issued and will be managed by the F42 Fund operated by FinTelegram.