Please see the “Mining” section of the website for more details. We do have a tutorial for anyone new to mining!

• - We did not exactly have an Initial Coin Offering (ICO). We did, however, sell the premine to our initial community at the time of launch, once mining went live and the genesis block was mined and confirmed. We essentially sold coins Peer-to-Peer (P2P). Users will receive their coins within several hours after submitting contributions to the Gnosis safe.


• - We had a small Sacrifice Phase before the launch as well, similar to Pulsechain. We are not affiliated with this project, and do not endorse it, but we implemented a similar Sacrifice Phase before our genesis block was mined. Contributions to the Sacrifice Phase were made for the good of the project, without any promise of a return of coins.

• - The fennec fox is a very cute, petite animal. It has genetic resilience, and is hardwired to thrive in arguably the roughest conditions nature has to offer. It is natural that other people would want to make meme projects derived from the fennec fox! The difference between them and us is that they are mostly phased out at this point, they are long gone. Fennec tokens are smart contract tokens on ETH or BSC.


• - As an independent coin on its own network, we have a completely different concept here. We are not built to simply pump and dump within a span of 2-3 days; we are built to grow a community slowly and steadily over time, with the most stable price possible. There is more information about the difference between us and smart contract tokens in our “Synopsis” section of the website.

• - Essentially, 51% attacks occur when a single party has more than 51% of the mining hash rate of a cryptocurrency network. Fennec’s largest priority is growing our hashrate slowly and steadily, and with this, we plan on recruiting individual miners instead of mining farms. Now obviously, there will be some larger rigs that come to support the network, but with enough individual miners, the hash rate should be allocated responsibly.


• - In the absolute worst case, the team is more than prepared to buy hash power from a third party provider to mine Fennec. Buying additional hash power will offset the percentage of control that a third party has over the network, while simultaneously driving up mining costs. If mining costs are driven up to the point that they are impractical for a mining farm, they will quickly stop mining Fennec. If we ever have to outsource hash power for mining Fennec, we will keep this Fennec in another treasury for development costs, maintenance costs, airdrops, and discounted peer-to-peer sales. Should this occur, there will be announcements about it on our website as well as our socials.

• - The treasury will be kept safe and secure. Essentially, the treasury is going to be a sum of all the funds invested in our first round of peer-to-peer sales. We had a premine because we know that peer-to-peer sales event funds will be necessary for future exchange listings, development, as well as server maintenance. We also wanted to prevent malicious miners from having control of too much of the circulating supply. Our block rewards have been set up so that mining is somewhat practical, but not extremely appealing. The treasury is going to be stored within the Gnosis safe application, a very secure “wallet” , of sorts, for cryptocurrency storage.


• - “Gnosis has been developing blockchain-based fund management solutions since 2017, earning a reputation in the industry for engineering and security expertise.”
• - Gnosis website.
• - Please visit https://gnosis-safe.io/ for more information.
• - Gnosis safe offers a multi-signature safe feature, which means that up to 4 individuals can hold the keys to the safe. This means that any payment or withdrawal from the safe is going to have a distinct purpose. We will very likely include a section of our website that includes a log of what these funds are being used for as we use or convert them. The aim of this feature is to reduce liability, risk, or other forms of treasury loss.

• - As the founder of Fennec, I don’t know if it is the best idea to dox (or reveal any personal information to the public) at this time. There are many reasons for this. My team is slowly learning more about me, and as the project develops, a full dox to the team is surely in order, it will be done. But this information will be very unlikely to be released to the public community for some time.


• - As the founder, I will need to dox to companies and exchanges of all kinds in order to get representation and listings. However, public doxxing to the community will be pushed off until the community is thriving without my efforts being directed toward community building. When community growth is self-sufficient, and somewhat indifferent to my efforts, I will surely also be indifferent to doxxing.

• - Our marketing efforts were focused on 4chan in the beginning of our community development phase. While 4chan is an amazing platform for recruiting crypto activists and enthusiasts, there is a portion of the platform that is notoriously toxic. We will be making great efforts to cull the members of the Fennec community who refuse to adhere to the most basic of considerations, such as an intolerance for racism, sexism, religious segregation/belittlement, or toxic imagery. We are making that cultural shift of intolerance gradually so that 4chan members have the opportunity to acclimate and conform to our intended cultural imperatives.

• - To be honest, we hired a coding dev that was twice as expensive to ensure network, Fennec wallet, and web wallet security. Web wallet will be released somewhere down the line, as it drives security expenses up a bit. Our budget was tight, but we were not willing to shave some costs at the expense of network security.


• - The blockchain is incredibly secure, as far as my knowledge goes on the subject. Is it best to ask our coding dev, @TylerAdev (on Telegram) if you seek further elaboration.
• - The code base that the wallet (and FNNC) is built on is in part "forked" from standard, secure applications and blockchains, with additional modifications. Our Fennec wallet has some modifications aesthetically, and our coin (FNNC) has some major code modifications to change the mining algorithm, block time, block size, etc. All specs can be found on our website.

• - We decided to go with a bitcoin fork because quite honestly, there are so many L1 chains at this point that it's getting a bit out of hand. I suppose the same could be said for 1st generation cryptos like Bitcoin and Litecoin, but at the same time you've got to figure that full on L1 smart contract chains like FTM, KCS, MATIC, AVAX, etc. are all falling out of style in contrast to BNB and ETH.


• - We believe that having a simple code base and a 1st generation crypto with a few modifications (such as making it ASIC resistant) gives people an opportunity to be a part of a new project that can reliably serve a simple function: to send and store funds, without worrying about chain complications or sh*tcoin toxicity.


• - L1 smart contract projects have millions of dollars behind them, trying to become "The Next ETH" overnight. This just isn't something that Fennec is striving for in such a short timeframe. This is going to be a bit of a grassroots community, and a project with decent marketing and word of mouth as its means of growth for a while, in a very similar way that bitcoin became popularized. We just don't have the capital to develop a new chain (costs like $15-20k in most cases), and beyond that, we don't have the millions of dollars necessary for validators, network support, etc.

• - We believe that POW generates inherent value and decentralization because pretty much anyone can mine. Energy expenditure is not the best thing for the environment, but as we (as a society) learn to use renewable energy, we feel that the environmental ramifications will largely be negated over time. However, electricity will still be expensive, and if people have to use electricity to support the Fennec network, then we have something of inherent value. This is not a promise of future price appreciation, but merely the implication that our project’s fundamentals are more appealing to those who wish to use Fennec as a potential store of value.


• - We also believe that PoW coins are a way of "outsourcing" network security. Validator nodes are incredibly expensive. Considering that our premine is approximately 30% of the total supply, we were able to reduce our halving period, as well as our block rewards so that miners do not have excessive control of the project.


• - The block rewards and the miners should not be an obstacle in our quest to decentralize Fennec. We think that if people are being introduced to our project, and know that they can mine coins, it drives adoption and eventual decentralization... POS or POSA tends to centralize rewards to whales and such. We are aware that some "mining whales" can come into the picture with mining farms, but we would like to think that if we become big enough, there will be multiple farms competing for our block rewards, and none of them will get a considerable chunk, similarly to Bitcoin's situation now. In the meantime, our community will be mining a considerable quantity of coins.