FOGNET Platform

FOGNET Platform The FOGNET platform is a real estate NFT content platform based on the Ethereum blockchain network that can trade real estate development products using NFT.

The components of the FOGNET platform are as follows.

FOGNET Platform

A blockchain ecosystem created through FOGNET Token and Empire NFT, developer NFT, and sales NFT

USER

- All members of the FOGNET Platform ecosystem

- Real estate developer and sales business operators, business site owners and residents, investors, FOGNET teams, etc.

FOGNET Token

- The basic currency of economic activity in the FOGNET Platform ecosystem

- Key currency of all transactions (NFT issuance fees, NFT purchases, etc.) occurring in the ecosystem

Empire NFT

- NFT acts as a 'sovereignty' of FOGNET platform ecosystem users

- The right to earn revenue from the FOGNET platform (real estate shares, key shares)

- The right to participate as a DAO member (right to distribute revenue, right to make decisions)

Implementation NFT

- It is issued by each implementation unit. The profit dividends received at the end of the project and incinerated with liquidation.

Sales NFT

- It is issued by each sales unit. The profit dividends received at the end of the project and incinerated with liquidation.

FOGNET DAO

- An autonomous decision making organization of FOGNET platform ecosystem (proposal, voting)

- Users are entitled to participate by retaining Empire NFT

• Reward System

FOGNET pays FOGNET points as reward for all activities on the platform in order to increase the motivation of users in the platform and stimulate the platform by inducing interest. FOGNET points will be paid differently according to various activities of users occurring within the platform, and payment conditions and payment rates will be adjusted according to the increase of users and the progress of events in the future.

The basic contents of the FOGNET platform's reward system are summarized as follows.

Common application

1. Membership

1-1. First time to join the platform

A. Providing - 5,000 points

B. Terms and conditions - First time payment

1-2. Join by a friend invitation (invitee)

A. Providing - 3,000 points

B. Terms and conditions

• First time payment upon membership registration

• Redundant payment with platform initial subscription points

• Enter the person's ID invited when signing up for membership

1-3. Join by a friend invitation (inviter)

A. Providing - 3,000 points

B. Terms and conditions

• Invited friend pays upon completion of membership registration

• Pay every time a new subscription occurs due to an invitation from a friend

1-4. Daily login

A. Providing- 100 points

B. Terms and conditions - only once a day

2. Exchange: point→token

A. Payment - 10% Cashback

B. Terms and conditions

• Exchange rate (10000:1) ☞ 10,000 points = 1 FOG

• Save 10% of the exchanged point quantity as a point again (cashback)

User 1 - NFT Buyer

1. Purchase

1-1. First purchase of NFT

A. Providing: 10% cashback

B. Terms and conditions - Payment on first purchase after membership registration

• Cashback of 10% of the payment amount to points (case by case)

• Apply proportionally according to payment amount

1-2. NFT Repurchase

A. Providing- 3% Cashback

B. Terms and conditions - Payments made each time after the first purchase (based on the number of payments)

• Payment by FOG

• Cashback of 3% of the payment amount to points (case by case)

• Apply proportionally according to payment amount

2. Activity

2-1. Watching adverts

A. Providing - 10~100 point

B. Terms and conditions : Providing differently by advertisement video

2-2. Feedback (reviews, recommendations, etc.)

A. Providing - 1000 point

B. Terms and conditions - Payment when conditions are met according to the internal regulations of the platform

User 2 - NFT Seller

1. Sales

1-1. Paying the NFT issuance

A. Providing - 1% cashback

B. Terms and conditions - Provide each time after the first purchase (based on the number of payments)

• Providing when paying with FOG

• Cashback the 1% of payment amount with points (per case)

1-2. Paying the NFT issuance

A. Providing - 3% cashback

B. Terms and conditions

• Providing when paying with FOG (per case)

• Cashback the 3% of payment amount with points (per case)

※ Rewards may be added or changed depending on the progress of the project.

FOGNET Point acquired through Rewards can be converted into a utility token FOG issued by the platform and used as a payment method when purchasing Empire NFT. When exchanging FOGNET points with FOG, the minimum point that can be exchanged is 10,000 points, and the exchanged FOG can be swapped with other virtual assets through Ethereum Network's wallet service and used for asset transactions.