Fautor : Redefining Creator Economy

Token Swap Plan Announcement

Hello,

This is the fautor foundation.

We apologize for being negligent in sharing news as we have been carrying out internal strategy and structural adjustments.

The fautor foundation was created for fantrie's web3 expansion. We have been focusing on laying the foundation of the fantrie platform to secure the future plans of fautor and the blockchain. We have issued NFTs based on Klaytn and carried out small projects by issuing fandom tokens. Through this process, we have gained experience in applying blockchain to the creator-fan ecosystem.

Based on this experience, the fautor foundation aims to expand its blockchain business.

We would like to provide various updates all at once, but first, we want to start with the most important update. As we expand our project, we have decided that cooperation with various mainnets other than Klaytn is necessary, and therefore, we are changing the token standard from KIP7 to ERC20, changing the fandom token to the fautor token.

Changing the token standard does not mean that we are breaking up with Klaytn. We aim to support most services through token bridging. However, we plan to support services using the ERC20 standard on future exchanges.

The issuance and swap procedures are as follows. We will announce the specific schedule for the swap in the next notice.

KIP7 token burning and new token swap

- Sequential burning of foundation-owned tokens from May 25, 2023.
- Swap will be carried out through [fautor.foundation](http://fautor.foundation/).
- The swap period is 120 days from the start of the swap.
- We will announce separately for tokens that have passed the swap period.

ERC20 token issuance

- Token issuance date: May 23, 2023.
- Issuance address and audit information will be disclosed.
- Tokens other than those swapped can be purchased through each mainnet's DEX and CEX.

Holder classification

- Initial investors
- Exchange purchasers
- Airdrop recipients
- Fantrie users

After the token swap, we will introduce a new roadmap, including the project's new CI, homepage, and web3.0 functions added to Fantrie.

Thank you very much for your patience for a long time.