BitWell Institute – Firo (FIRO) Project Analysis

1. Short review of the Institute

“Privacy is consent”, Firo is committed to enabling privacy protection in cryptocurrencies and ecosystems. The team behind Firo is responsible for some of the most significant blockchain privacy protocols on record, and team members are involved in research and technology development for several blockchain projects involving privacy protection, such as Lelantus Spark Technology, Lelantus Technology, Sigma Technology, etc., and all that tech is distilled into Firo.

2. Introduction of the project

Firo is a privacy preserving cryptocurrency and ecosystem. Firo is at the forefront of cryptocurrency privacy with Lelantus and Lelantus Spark providing trustless, on-chain privacy with high anonymity sets. Dandelion++ technology also provides network-layer privacy.

Firo uses a hybrid PoW and LLMQ Chainlocks system combining fair distribution of supply with protection against 51% attacks and quick finality of blocks and transactions.

Firo’s Elysium tokenization layer allows users to create their own privacy-enabled tokens with use-cases from private stablecoins or voting tokens and in the future offer privacy for bridged assets from other chains.

Firo stands out as one out of a handful of projects that contribute independent research to blockchain privacy and decentralization technologies such as Sigma, Lelantus, Lelantus Spark and MTP.

3. Token Role

15% of Firo’s block reward goes towards a development fund to fund development work and other efforts in promoting Firo’s adoption.

The fund pays primarily for coders and cryptography researchers, community managers, audits, bug bounties, integration costs and infrastructure overheads.We regularly publish summaries of how these funds are being spent on our forums.

4. Token Distribution

There will be 21.4 million Firos. Firo follows the same distribution and halving cycle as Bitcoin (every 4 years).

The current block reward of 6.25 FIRO/block is divided as follows:

  • Miners (25%, 1.5625 FIRO)
  • Masternodes (50%, 3.125 FIRO )
  • Development Fund (15%, 0.9375 FIRO)
  • Community Fund (10%, 0.625 FIRO)

5. Investment Institutions

Firo Crowdfunding System:

https://funding.firo.org/

6. Basic Information

Token name: FIRO

Project website: https://firo.org/

Block Query:

https://bscscan.com/token/0xd5d0322b6bab6a762c79f8c81a0b674778e13aed