Ryan John KingCo-founder, CEO
Kristoffer JosefssonCo-founder, CTO
Katya ZavyalovaCo-founder, CCO
FOAM is an open protocol for decentralized, geospatial data markets. The protocol is designed to empower users to build a consensus-driven map of the world that can be trusted for every application.
Symbol: FOAM foam.space
31 Jul 2018 - 26 Sep 2018
The FOAM protocol empowers users to build a consensus-driven map of the world that can be trusted for every application. FOAM secures physical space on the blockchain, harnessing the power of Ethereum with a cryptographic software utility token used to provide computational work and verification to the network. The component elements of FOAM are designed to provide spatial protocols, standards and applications that bring geospatial data to blockchains. Token mechanisms and crypto-economics underpin the elements of FOAM and empower the distributed users to coordinate and interact in a decentralized and permissionless manner.
The FOAM Token is intended to be the native software utility token of the FOAM protocol. There will be a total of one billion FOAM Tokens that can ever be created. At the time of the FOAM Token Sale, 30% of the FOAM Token supply will be sold to purchasers. 25% of the FOAM Token supply is set aside for compensatory purposes, and 10% will be allocated to a Reserve intended for grants to developers, or other purposes related to use of the FOAM protocol. 35% of the supply is for the mining rewards to Zone anchors; this portion of the supply can only ever be obtained by contributing work to the FOAM network in Dynamic Proof of Location.
In order to ensure appropriate adoption, diffusion, and growth of the FOAM network, all FOAM Token purchasers must prove their use of the FOAM Token upon receipt. Token holders can do this through either of the two initial utilities: staking to a Token Curated Registry for Geographic Points of Interest (TCR POI), or staking to the Signal smart contract on the Spatial Index. This requirement is intended to ensure that purchasers both understand and intend to contribute efforts as Cartographers in building out the FOAM Network. FOAM will be on the mainnet and deliver tokens within 28 days of the sale.