FreeMark Wallet
6.6 | 1.1
The FreeMark, by Worldfree, is a stable digital currency that is asset-backed so that the FreeMark has intrinsic value, unlike government fiat currencies or most cryptocurrencies.
- Pegged to a basket of commodities: the 12-month moving-average of the 20 most stable commodities. This connects the FreeMark to the value of the raw materials that most goods are made from, which are generally commodities. No currency is perfect, but by tying the FreeMark price to the physical world, holders can be assured that their wealth is protected against the damages of inflation, and their purchasing power maintained.
- Asset-backed: most of the funds from purchases of FreeMarks are placed in the FreeMark Reserve Endowment, where it provides liquidity and grows slowly to eventually attain 100% asset-backing. This intrinsic value makes the FreeMark a better medium of exchange—more stable, and more legitimate than other currencies.
- Growth Rate Royalties: inversing the inflationary aspect of fiat currencies, the FreeMark pays its users when the money supply expands with royalties based upon the growth of the money supply. The FreeMark Wallet calculates these returns.
How can a saver make money with a stable currency? Instead of the FreeMark increasing in price, owners receive more of them when the money supply increases.
The FreeMark Wallet shows you how your savings in FreeMarks are increasing as its use grows.
In addition, the FreeMark Wallet shows you how commodities prices are changing, but how you are covered when they go up (indicating inflation) because your savings are worth more in your local currency. You are also covered if commodities go down in price, because you will always be able to cash out as much as you put in, with the FreeMark price representing the average price you paid, not a lower one if commodity prices decline.
The FreeMark Wallet also:
- Stores other currencies so that you can do quick ATM transactions as you travel to other countries with instant foreign exchange services, saving you money and time at airports
- Shows portfolios of stocks and cryptocurrencies
- Allows you to check up on your selling and buying in the Worldfree Business Network (under development)
- Allows you to view your downline as you grow your network of contacts and sales distribution