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Foundation Coins Overview

The Freicoin Foundation was conceived to help create a world where commonplace non-usurious complementary currencies inspired by the works of Silvio Gesell are brought into being through economic development, charitable action, and the support of global commons and which engender perpetual prosperity through sustainable development.

The Freicoin Foundation will issue 80% of the total initial Freicoins through several issuance mechanisms that are safe from potential corruption from the Foundation management team itself. One of those mechanisms is to match Freicoin donations to non-profit organizations and other projects listed on their site (see link below). The foundation will also periodically give away some Freicoins to those organizations in proportion to how much they have received in donations from the community at large. Help decide how the Foundation's funds are going to be used by donating to your preferred non-profit organizations and projects on the donations section. The foundation will increase the amount of FRC you donate by 10%. If you're a non-profit organization or part of a project that fits the goals of the Freicoin Foundation (described in the first paragraph of this page), register on their site and list your organization on the donations section. Start receiving Freicoin donations as well as newly issued Freicoins.

Freicoin is a p2p currency based on Bitcoin and Silvio Gesell's Freigeld. After the first 3 years, October 2016, the total monetary base of 100 million FRC was generated. Although mining was necessary for security, it consumes real world resources and it was not necessary to issue 100% of the total initial monetary base through only mining. It was decided that 80% of the issuance would be put into the Foundation to prevent the wasteful issuance directly to miners (that maximizes the costs of production to minimize seigniorage) and to experiment with new issuance mechanisms. 20% was paid to the miners. Today, the monetary base remains stable and the 5% demurrage is distributed p2p. The initial goal was for the Foundation to distribute the 80 million FRC before 2016. As with many new technologies, the evolution of cryptocurrencies was not predicable. Most the foundation funds have yet to be distributed.

The adjacent pie chart indicates, in real time, the proportion of Freicoins to be distributed by the Foundation (see also the http://freicoin.info/chain/Freicoin/q/circulatingfrc for amount of circulating currency).

The decisions as to where to spend the funds requires YOUR involvement! The original 3-year timeframe was a compromise between the foundation as a tool to bootstrap the currency and the need of an eventual removal of the issuance role of the foundation for the currency to become purely p2p. A new timeline for the issuance of Foundation funds will be decided by Freicoin users. Once all Foundation funds are spent, the annual 5% demurrage will go in full to miners if no alternative has been found. The challenge is to design schemes in which the Foundation doesn't have much control over the final issuance decisions while at the same time ensure transparency and that funds aren't issued against the Foundation's (the community’s) principles. If a fully p2p issuance mechanism alternative to mining is found, a mechanism (for example, proof-of-stake voting) could be established to determine how much goes to security (miners) and how much to the alternative.

More information here : https://foundation.freicoin.org/