Furio Recent Changes: What You Need to Know!
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The Furio Dev team (FDT) published a Medium article yesterday outlining some important changes to the platform. Many investors are confused by the announcement so I’ll explain, and tell you my new strategy…
Change 1 — Removal of LMS
The reason for this is the LMS was built using third-party code (remember Horde?) and for security, after the contracts are all renounced the FDT did not want any third-party code left behind which could potentially have allowed that third party some access to the LMS.
What this means:
The price of $FUR will be decided by investors and not by the LMS. More buying pressure will drive the price up and more selling pressure will push the price down. The price could go a lot lower than it is currently, but conversely, it could go through the roof eventually, in the next bull run!
Change 2 — Daily Sell Limit to Remain at 100 FUR
Yes, that’s right, this isn’t really a change. There was talk earlier this month of changing the sell limit to $100 worth of $FUR rather than 100 FUR (subtle difference currently) but with the removal of the LMS it didn’t make sense to go ahead with this change because if the price of $FUR were to go to a new ATH, investors wouldn’t be able to cash in on that. So the daily sell limit remains at 100 $FUR per wallet.
Let me remind you that the price of $FUR was over $20 at one point last year. Just imagine, if we see those kind of prices again that would make for a lot of very happy investors!!!
What this means:
It’s good for sustainability. If the FUR price moves up (as many hope it will) investors can enjoy the benefit of that price increase with their daily sell limit. Basically, it’s a good thing!
Change 3 — Use of LMS Funds
You might be wondering what will happen to all the USDC that was in the LMS? Well, good news — it’s going to be used to buy back FUR every week. $150,000 $USDC will be used each month ($37,500 a week) to buy back FUR. The weekly buybacks will happen at random times to avoid any attempt for targeted selling to profit from the inevitable price increase.
What this means:
It will have a positive effect on the price of $FUR. It won’t be sufficient to counter the current sell rate though — we still need profits from Furbot to help with that. There are more sells than buys currently while investors desperately try to recoup initial investments or make a profit.
The hope is that selling will slow down as people realize that Furio is a long game and it will be here and sustainable indefinitely and there is ultimately more profit to be made by claiming to Furpool (check Stu’s spreadsheet calculator if you don’t believe me!)
What About Increasing the Maximum Deposit?
This has been requested by many in Furio TG but it’s not a possibility since the Furvault (daily ROI App) contract is already immutable! That’s a pity, if only people hadn’t been so obsessed about immutability last year!!!!
Anything Else?
Yes, there are a few points from the FDT’s article that are worth discussing…
The injection of funds for FUR buybacks has already begun and can continue for at least 80 weeks! This is really good news in my opinion! (It means a Furvault with no inflationary pressure for the foreseeable future).
FAST Teams will be supported with over 110,000 $FUR to be managed by the teams. Team leaders can use this $FUR to encourage new investors to the platform (by rewarding existing team members with monthly airdrops and prize draws)
Furbot is looking good. I recommend you review yesterday’s Medium article by FDT to understand why I’ve said that!
Furio Finance is launching soon — the FDT are watching the markets closely before launching. Furio Finance is an important development for the Ecosystem and the FDT are excited for this and just want to ensure it has maximum impact and its true value isn’t lost in the current market conditions.
Here is yesterday’s article by the FDT:
My New Strategy
I believe these changes are great news for investors! We will have the opportunity to buy ‘cheap’ $FUR at times. So my new strategy is simple:
Buy more FUR when it’s cheap and start new wallets. Unless the price completely crashes (possible but not probable) each one should be worth in excess of $100,000 within three years.
“Buy more FUR when it’s cheap and start new wallets!”
— George Washington 😎
I have confidence in Furio as a platform. The FDT have proven themselves to have integrity. An awful lot of DeFi projects have come and gone in the last seven months since Furio launched — some have rugged and blatantly stolen investor’s funds, and others were ill-fated from the start through bad design exacerbated by the bear market conditions they were operating in. But Furio is still here, still going strong, and still with massive potential to transform people’s finances and lives! I for one am grateful to the FDT and very happy that I got into Furio when I did.
Got Questions?
If you’re really interested in getting into Furio but you have a few questions you’d like answered first, you can ‘drop in’ to my Defi New Starters Telegram group where you will find several trustworthy Furio enthusiasts who will be happy to answer your questions and help you get started — just click the banner below:
Is Now a Good Time to Get Into Furio?
Yes! The sooner you get started the sooner you can enjoy the 2.5% daily reward rate in Furvault and the sooner you can be depositing rewards to the Furpool where they will grow at 60% APR (that is the current rate, it’s subject to change) and the sooner you can enjoy creating some genuine passive income streams that will probably be life-changing once the next bull run comes!
PLEASE NOTE: Nothing in this article is intended to constitute investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits, or losses you may incur as a result of this information. Readers are encouraged to perform their own due diligence and research or consult a licensed financial advisor or broker before making any and all investment decisions. This content is intended for general informational and educational purposes only. Though the author strives for accuracy, the data contained within the article cannot be relied upon. The author may own cryptocurrencies and tokens discussed in the article. The article may contain affiliate links. DO YOUR OWN RESEARCH!
