HOW TO BUY
Many ways to buy FOHO
Leading publications like Bitcoin.com, CoinCrunch, Livemint, Hindustan Times have labelled FOHO as the "Future of Shared Real Estate"
FOHO is building the future of shared real estate.
FOHO allows sharing of real estate using blockchain. Participants use FOHO Coins to participate.
Today’s fractional ownership and timeshare solutions are developer driven and accountability is low and dependent on the solvency of the system. Customers are courted with various promises on yield, future potential etc. but cannot organise themselves to discuss and diligence such deals together and have no way to demand accountability.
Post the actual purchase; usage of the properties and the income generated from them are opaque and require extensive planning defeating the premise of owning a second home. FOHO aims to build a more transparent ecosystem that uses the wisdom of crowds to uncover deals, hold sellers and property managers accountable and make using a shared property a stress-free experience.
We have taken an ecosystem approach to creating a vibrant and trusted marketplace that brings opportunity and discipline to all participants.
Trust and Diligence
Buyers who seek income very rarely are able to trust realtors and developers in a relationship that is transactional with nothing to hold them accountable. It’s also usually very difficult and not worth the time and effort to conduct due diligence on an opportunity.
Skin in the Game
The traditional sharing economy does not put strict penalties on property managers or sellers who make tall claims and whose funding strategy is customer receipts. This ends up ironically also wasting a lot of money on sales and marketing due to poor conversions.
Bringing Trust Back
Our ecosystem design ensures financial closure of a project only when it is fully funded. There are multiple checks and balances before a project is shown to investors. These include getting the backing of a Sponsor or Club organiser and gathering adequate initial supporters.
The FOHO Ecosystem
FOHO Coin is the currency through which participants demonstrate long term adherence to platform rules.
The FOHO Coin will be based on the ERC20 Ethereum standard and participants can purchase FOHO Coins in a variety of Fiat and Crypto-currencies. We will endeavor to list and be tradeable on multiple exchanges across the globe in addition to offering a buyback and trade facility through the FOHO app.
For more details on the token economics, a snapshot is below and more details can be gleaned in the whitepaper.
July 27, 2021
August 3, 2021
1 Billion FOHO Coins
Initial Exchange Offering Target
85,000,000 FOHO Coins
25,000,000 FOHO Coins
100,000,000 FOHO Coins (10%)
Tokens Exchange Rate
I FOHO = 0.10 USDT and equivalents
ETH, BTC, LTC, USDC, USDT, Dogecoin, and over 50 other currencies
Minimal Transaction Amount
10 USDT and equivalent
IEO Funds Allocation
Token release forecast schedule
Our Token release is planned to keep skin in the game for the management team, reward the initial power users and influencers and ensure that interests of all parties are aligned to making the platform as vibrant as possible.
Some notable features:-
- 45% of the lifetime supply of the tokens will be done in tokens sales.
- Team tokens are linked to the number of tokens sold in all public rounds till that point in time and will be released at a rate of 0.5%*(sum of tokens sold in public rounds till then) per month.
- Sales & Partnership token release is directly linked to future token sale. They will be released prior to a token sale round and equivalent to 1% of the tokens to be sold in the coming public sale round.
- Tokens locked for technology will be released based on the tokens sold in public sales till that point of time, at a rate of 0.5%*(sum of tokens sold in public rounds till then) per month.
The team expects to hit the following milestones in a disciplined manner with limited risk of delays.
Closure of IEO
Listing of Tokens and Trading
Launch of FOHO Haus, FOHO Work, FOHO Club and FOHO app
Acceptance of FOHO Coins on third-party websites.
Secondary listing and fund raise on global exchange
Private Sales Begin
Closure of IEO
Listing of Tokens and Trading Begins
The FOHO app is your gateway to the sharing economy. FOHO Coins are the exclusive currency for participation.
FOHO Coins allow you to participate in all areas of the FOHO ecosystem including:-
- FOHO Haus – shared ownership of homes*
- FOHO Work – shared ownership of commercial spaces*
- FOHO Club – Shared usage clubs
In addition, you will also be able to pledge your FOHO coins and get more FOHO coins by participating in deals and helping in due diligence. Be part of building the future.
*Not all FOHO Coin holders will be able to participate in the FOHO Haus program. Due to the FOHO Haus representing actual ownership, it will be subject to securities laws of the relevant jurisdictions.
The Leadership Team
The FOHO Team combines a passion for esports, industry expertise & a proven record in finance, development, marketing & licensing.
Vijay ThomasFounder & Executive Director
Vijay is the Founder & CEO of Tangentia and Tangentia Ventures, and head of the Tangentia Group of companies. Vijay was the president of the Indo-Canada Chamber of Commerce (ICCC) and is also on the board of TiE Toronto and active in multiple local and global business organisations. Vijay has a bachelor in Mechanical Engineering from Karnatak University and MBA from Goa Institute of Management
Tangentia Inc. (www.tangentia.com) is a world-leading provider of digital transformation solutions, headquartered in Toronto, but with operations globally, primarily in Canada, India, and the US. Since 2003, Tangentia has worked with industry-leading companies to simplify their relationship with technology. They help companies make an impact by using cutting-edge technology that helps transform, grow, or bounce back in today’s competitive digital landscape. Tangentia has been on the Profit 500 list of fastest growing companies in Canada for 6 years in a row and Tangentia America, the US arm of the company has been listed in the INC 5000 – which is the list of 5000 fastest growing companies in the USA. Leveraging this strength, the Tangentia group was the original promoter of the FOHO fractional home concept that launched in India in 2019.
Roshan DsilvaFounder & Executive Director
Roshan is one of the leading experts on Vacation Properties having been the founder and CEO of Tripvillas – since inception. Roshan has direct experience with the creation, sales, marketing and management of holiday homes in multiple geographies such as India, South East Asia, Australia, parts of Europe and the United States.
Tripvillas Group (www.tripvillas.com) is one of Asia’s largest Holiday Home Rental Companies, headquartered in Singapore. Over the years, Tripvillas has grown to add to its core rental business other key businesses to serve the Holiday Home industry in Asia. These include a software business, a vacation community management business, property management services including brokerage and interiors of vacation homes, branded development of vacation communities, and so on. Harnessing this experience, Tripvillas will also prove to be an important asset to FOHO Holdings.
The Advisory board
Chandan KumarBoard Advisor
Chandan has been a professional financial markets trader for over 15 years and runs an algorithmic trading consultancy. For the last 3 years, he has been a Consultant with Bitbns, Indian primary digital assets exchange, with a focus on business development and algo trading in Cryptocurrencies.
Jason FernandesBoard Advisor
Jason Fernandes is an entrepreneur, speaker and blockchain industry figure. Fernandes founded FinTech media outlet TokenJay.com, internet portal ZeoCities.com and co-invented the world’s first Internet-based DVR, RecordTV. Fernandes has featured in international outlets like the BBC, LA Times, Associated Press, MTV, Channel NewsAsia, and national outlets like India Today, ZeeTV and the Times of India.
Floyd TavaresBoard Advisor
An award-winning marketer, Floyd Tavares, co-founder of Dranding Consulting is an MBA in marketing with over 10+ years of experience in building brands; both online and on-ground. He was recently voted “Iconic Hospitality Marketer” by Times Hospitality Icons & also is the recipient of the ‘Most Influential Young Leader’ by the World Marketing Congress. Dranding Consulting has successfully transformed many brands in Gaming, Hospitality, Technology, Education & Engineering space.
Frequently Asked Questions
Below we’ve provided a little information on IEO, IEO Token, cryptocurrencies, and few others. If you have any other questions, please get in touch using the contact form below.
What is a Blockchain?
A Blockchain is a growing chain of records - called blocks which are interconnected using cryptography. As each block is connected to the next, they serve as a good proof of time and a transaction as they are not easy to modify given that any modification would not be able to modify all subsequent blocks. They effectively allow perpetual self managed record keeping and proof of a transaction record etc.
How is it advantageous for real estate?
Real Estate is dependent on meticulous record keeping to be able to prove proof of ownership and entitlements such as occupation, right to collect rent etc. As such, blockchain has inherent strong advantages as a blockchain based system is not easily manipulable by bribe, incentives or through loss of physical records.
What is a Smart Contract?
A smart contract is a computer program or a transaction protocol which is intended to automatically execute, control or document legally relevant events and actions according to the terms of a contract or an agreement.
How is my investment linked to Ethereum?
Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether (ETH) is the native cryptocurrency of the platform. After Bitcoin, it is the second-largest cryptocurrency by market capitalization. Ethereum is the most actively used blockchain. FOHO proposes to use Ethereum based smart contracts for all transactions on it’s platform.
What role do exchanges play?
Exchanges play a key role in ensuring that only legitimate customers and capital come into the ecosystem. They perform KYC on their customers, have sophisticated fraud management systems at work and in general are able to detect potential fraud faster than individual issuers who may have limited data.
What is a Stable coin?
A stablecoin is a new class of cryptocurrencies that attempts to offer price stability and are backed by a reserve asset. Stablecoins have gained traction as they attempt to offer the best of both worlds—the instant processing and security or privacy of payments of cryptocurrencies, and the volatility-free stable valuations of fiat currencies. Some examples of stablecoins linked to the US Dollar include the USDC and USDT.
Do I need to have an account on Bitbns?
Participating in the IEO requires you to have an account with Bitbns. Pre-IEO Partcipation through Private token sales is open directly with Foho Holdings. Pre-IEO participation is open only for amounts larger than $25,000.
Why are you launching on only Bitbns?
Bitbns is one of the leading exchanges in India and offers a customer friendly, technologically sophisticated platform. We expect to have a large enumber of investors and properties in India and so feel it is appropriate to have our IEO with Bitbns. You can see the list of recent IEOs done on Ascent by bitbns here .
What all currencies do you accept?
The IEO will accept USDT, WETH and WBTC. However Bitbns supports over 50 fiat currencies(depending on user's location) and 100 cryptocurrencies and you can convert these to USDT/WETH/WBTC to invest in the IEO.
What all countries can participate? Why is it restricted to a few countries.
For legal reasons, the IEO is open to only KYCed investors in geographies outside the United States and those not originating in certain countries like Albania, Barbados, Botswana, Cambodia, Ghana, Jamaica, Mauritius, Myanmar (Burma), Nicaragua, Pakistan, Panama, Syria, Uganda, Yemen, Zimbabwe.
Where can I use the FOHO Coin?
You can use the FOHO Coin on FOHO Haus, FOHO Work and FOHO Club. In addition you may also use it at other accepting websites which we are signing up with at the moment.
Will the FOHO Coin let me earn rent?
No - the FOHO Coin will not give you rent. However, the FOHO Coin entitles you to your share in the ecosystem profit pool.
Is the FOHO Coin a security token?
No. The FOHO Coin is a utility token.
Is the FOHO Coin an NFT?
No. The Foho Coin is a utility token.
How do I see who are the major holders or what is the number of FOHO Coins in existence?
You will be able to see disclosures as soon as the FOHO Coin becomes tradable. The management team will disclose wallets which are closely linked to the team members.
When can new FOHO Coins be created?
New FOHO Coins can be created from fresh sales, to incentivise early users or on negotiated sales with premium users.
What is the minimum number of FOHO Coins that can be transacted?
10 USDT or 100 FOHO Coins
How does FOHO Coin help me in participating in FOHO.Haus, FOHO.Work and FOHO.Club?
FOHO Coins are used to pay for property specific security tokens on FOHO.Haus and FOHO.Work and for club subscriptions on FOHO.Club. In addition users can migrate to super users by staking a minimum number of FOHO Coins which allows them to sponsor deals and start their own clubs.
How is FOHO.Haus different from FOHO.Work and FOHO.Club?
FOHO.Haus is a fractional ownership platform for residences while FOHO.Work is focused on commercial properties. FOHO.Club is meant only for usage of properties with no ownership.
If I own 1/12th of a property can I stay in it for one month a year?
No. FOHO.Haus properties only have the benefits of ownership - i.e. owners benefit from capital appreciation and get their share of the rental income. In order to keep things fair, no owners are allowed to stay in the property and the sole focus of the property manager is to maximise .
What happens when the property is sold?
When the property is sold, the security tokens are compulsorily bought back and then destroyed unless the new owner wants to continue to let the tokens trade.
What is a maintenance reserve?
Maintenance reserve is a pool of capital kept aside in addition to the price of the property to look after any unexpected repairs or maintenance.
What about under construction properties - do we have to pay upfront?
No. Under construction properties will adhere to standard payment schedules for the property.
What is the legal status of FOHO Coin? Is it legal tender currency?
FOHO Coin is not legal tender currency. It is a utility token simialr to a gift voucher or a stored value card.
What happens to the money I invest in buying FOHO Coins?
The money is used by Foho Holdings to build the Foho Ecosystem as per the pre-shared business plan.
Should I expect my FOHO Coin value to keep going up?
You should expect the FOHO Coin value to go up as the platform gains traction by more properties coming on to the platform and more getting oversubscribed. Anything you can do to assist in that will help your investment.
Why am I as an American not allowed to participate?
There are specific rules governing who can invest as an American citizen or resident and the procedures are tedious with heavy penalties to the issuer. As such, we would rather avoid the same. This is an unintended consequence of regulation.
How do I sign my contract ? I don’t have a Digital Signature.
You will sign using our digital signature tool. The first time you use the platform you will be prompted to create your signature. This is a simple process.
Talk to the Founders
Ask Me Anything
You are invited to join a webinar of FOHO COIN – AMA (Ask me Anything) with the Founders, Mr. Vijay Thomas and Mr. Roshan D’Silva .