we hosted an amazing AMA with FOHO Coin on the 19th of July
And here we will put some of the best questions:
Q1) can you please introduce yourselves as well as FOHO Coin ?
Roshan : my name is Roshan and I spent a significant part of my life in Qatar – my parents had moved there in 1969 so I lived there for over 18 years until moving to University – I graduated from IIT Bombay – India’s top technology university.
For the past 10 years I have been actively involved in the real estate space managing vacation properties – and then also my own portfolio of plantations, residential properties etc.
Foho is a fractional ownership platform – it allows people who hold the Foho coin – to participate in buying property specific tokens from our marketplace and to also get regular income from the income generated by these properties.
Vijay : I am the Founder & CEO of www,Tangentia.com an agile digital transformation company, headquartered in Toronto, with operations globally, primarily Canada, India and USA. I am also Founder and CEO of Tangentia Ventures, which invests in early stage companies in global technology services, ‘make local’ manufacturing and niche ecommerce services in Canada and India.
I have a B.Eng in Mechanical Engineering from Karnatak University and a MBA from the Goa Institute of Management.
I was elected the 32nd President of the Indo Canadian Chamber of Commerce (ICCC)and also on the board of TiE Toronto and active in multiple local and global business organisations. Grew up in Goa, India and then lived in Chennai, Boston, Montreal and now calls Toronto home for the last 15+ years.
I started FOHO in 2019 in India to fractionalise real estate and we had a great start. We were written about in the Indian business magazines at that time,
https://www.outlookindia.com/newsscroll/fractional-ownership-model-can-help-boost-sluggish-realty-market/1644339
In 2021 I ran into Roshan who is founder and CEO of Tripvillas.com and we decided to join hands and add blockchain and crypto to the FOHO concept.
Q2) What are the advantages of Your project ?
Roshan : Essentially – with the Foho ecosystem – coin holders can participate in various opportunities from across the globe with amounts as low as 10$ and can also be alerted by other users to the benefits and also the negative aspects of any property. They can vote on key decisions along with other users and that makes Foho truly a great way to buy and sell real estate with least restrictions and negligible cost.
Vijay : Absolutely Roshan and as Roshan gets the information I would like to make a special announcement for Crypto Titans.
This a special promotion for all Crypto Titans.
Q3) please tell us about the goal you want to achieve in this year?
Vijay : This year we want to obviously have the IEO started on July 27th and the FOHO coins start trading on August 15th on Bitbns,
We will also launch on UNISWAP on august 15th,
The apps will begin in October and we will launch on another major global crypto exchange before end of the year,
Also we will have the FOHO coins being used on other platforms – we will start with Tripvillas.com almost immediately but we are talking to large travel platforms like Expedia.com and Airbnb.com as well,
Also we will have strategic property developer partners on board like DAMAC in Dubai, Tridel in Canada and Sobha on board soon.
Q4) Every project has a story behind their name, Can you tell us more about the story?
Roshan : FOHO = Fractional Ownership of HOmes.
Vijay : “F”ractional “O”entership of “HO”mes
Just to make it more clear.
And here we will put best questions from our members and FOHO Coin fans:
Q1) The FOHO Club is comprised of Club Memberships with a fixed tenure and once a Club reaches a certain committed member base it comes into effect, even so, can you tell me how long a tenure lasts in general? Also, how can members recommit to the membership once the tenure is over?
Vijay : This is an excellent question. The clubs are usually for a period of 1 year to coincide with the lease periods in most geographies and to allow participants to drop out and new participants to join,
Let me give an example of a few types of FOHO clubs,
This could be 20 people in Mumbai coming together to share rental of a holiday home in the Dubai, 1000 people globally joining a NAPA Valley Wine club or 100 companies joining together to share office space in London. So as they come to the end of the 1 year, they can relish the club and some of the existing people can rejoin or brand new people can join the club.
Q2) On their website they point out that they will have a “FOHO Club”, in which FOHO holders will be able to obtain discounts on properties, but will all the homes they sell really be part of that Club? Or will it only be exclusive for VIP users?
Roshan : All the properties we sell are not in the club. Any property even not sold by us can come onto the club.
If however once the owners buy a property, they decide they want steady income from it, they can launch it as a club property and make the deal attractive so others subscribe to the club.
Vijay : Yes absolutely we will truly democratize real estate ownership and usage. We will allow anybody to bring any property to the platform as long as it meets a certain basic criteria – imagine this like a Airbnb.com community – we will build a thriving ecosystem of real estate participants and users,
Check out FohoCoin.com everybody and participate in the IEO but if any of your are interested in investing more than $25000 usd, we have a private placement open now,
So please get in touch with me or Roshan directly.
Q3) If I own a portion of the FOHO Coin property, am I also entitled to FOHO earnings? How will FOHO launch relate and realestate to your network’s “one-stop” Innovation?
Roshan : Yes – absolutely. The Foho property token holders get income in proportion to their ownership.
Vijay : Excellent question again – FOHO Coin is a utility token and allows token holders to participate in the FOHO ecosystem like FOHO.Club, FOHO.haus and FOHO.work and we use 25% of the earning from the whole FOHO platform at the end of every month to buyback FOHO coins and burn them,
If you buy properties, you will get yield but if you hold the FOHO coins itself, the value will keep going up as the earning will be used for buyback and burn.
Q4) When reading the characteristics of the #FOHO Haus, I noticed that the initial properties in 2019 were in Goa, Mumbai, Kerala,and Sri Lanka, fast forward to 2021,is it possible to sell fractions of properties of places based in Latin American countries as well?If not, how come?
Roshan : We are working to add support for many more countries and geographies.
Building that support involves both putting in place the legal infrastructure as well as getting good deals with great properties. We are working on both. Specifically Latin America – we may not be able to launch in 2021 but definitely latest by 2022 you an expect deals.
Vijay : As Roshan does that, I want to get everybody to please check out our white paper and we have the details on page 23,
https://fohocoin.com/wp-content/uploads/2021/07/FOHO-Coin-Whitepaper_V5.6.pdf
Q5) What partnerships have been announced so far, and who is still in development? I’ve always been a huge supporter of FOHO Coin, and I’m happy to see that the project is on the right track and gaining a lot of interest and momentum?
Vijay : We have a lot of partnerships globally in the crypto world as well as in the real estate world.
Bitbns is our IEO and IDO partner and we are going to be on UNISWAP as well on August 15th.
We also have major crypto groups like Crypto Titans worldwide that have pledged their support to FOHOCoin and we have a secret weapon- it is called the #FOHOArmy
https://fohocoin.medium.com/join-the-foho-army-b9b13fc05e40
You can join the #FOHOArmy and become an ambassador for FOHO coin.
Q6) What is your long-term plan with the early adopters of TFT? What are the best ways the community can help you with adoption?
Roshan : Find good deals with high yield real estate and send them our way. Tell your friends about this new way to invest in real estate.
Q7) #Foho_Coin will have its IEO on 27th July, can you give us more details about this event & the expectations you have for it? Where & when will it happen? Is there a whitelist we can join in? How many tokens will you offer? Once the IEO is over, what should we expect next?
Vijay : You can learn more at FohoCoin.com and please check out this video https://youtu.be/VKisRVLBHGA
Q8) Sir, Can you explain how is your Tokenomics Distribution? How many tokens Will be minted? And How many tokens Will be locked by the team?
Roshan : Please see the white paper for details on the tokenomics. As compared to any other project you will see we are unique that very few tokens are for management and a large chunk are locked for 30+ months. In fact at IEO time nearly 95% of all tokens are for cash.
Q9) Does your project support staking, to program? If yes. How is your stake, to system work what is the requirement, for user if they want to stake, in your platform?
Roshan : Not staking – but we offer a mortgage platform where you can lend your Foho coins to others who want to invest in properties and then you can charge them a fixed interest rate – if they default, the property is liquidated and you are paid.
Q10) What is the plan to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year?
Roshan : We are ourselves providing some liquidity and have also allocated 25% of revenues to incentivise hodlers.
Q11) What strategy will you implement to bring non-crypto-natives into your ecosystem? How do you keep a balance between developing the technology and also improving the value of your token?
Roshan : Our token will appeal to real estate investors as it is the first real token that will give exposure to real estate. That is a big new set of investors as opposed to the traditional crypto investors.
Q12) Is your smart contract AUDITED, is your SECURITY strong and top notch, ’cause a strong project is more important to investors?Is your smart contract AUDITED, is your SECURITY strong and top notch, ’cause a strong project is more important to investors?
Vijay : Our smart contract is audited as well as we are on the Bitbns platform that has the highest security standards https://etherscan.io/token/0xdd2e93924bdd4e20c3cf4a8736e5955224fa450e#readContract
And this was the end of our AMA with FOHO Coin.
If you have any other questions you can ask here:
ℹ️ℹ️ Useful links ℹ️ℹ️
Website :- https://fohocoin.com/
Twitter :- https://twitter.com/foho_coin
linkedin :- https://www.linkedin.com/company/fohocoin
Facebook :- https://www.facebook.com/fohocoin/
YouTube :- https://youtube.com/channel/UCgtVMMGtKPvDaIQ8IeqIYig
Instagram :- https://www.instagram.com/fohocoin/