When Brand New Vision was formed in 2016 it was focused on addressing the inefficiencies, costs, wastage and ecological damage that the traditional apparel industry is beset by.
While we have been building the company and it’s products we have never forgotten that what we should be doing is making an effort to improve the industry and even contribute towards repairing the damage that is caused to the environment by the fashion business.
Now we are close to the full launch of the Fa$h coin and ecosystem we are in a position to talk more specifically about our plans and the actions we will be taking.
The Fa$h coin structure has been designed to eventually be a DAO (The BNV Foundation) with token distribution undertaken by The Fa$hion Company Ltd. A DAO is a Decentralized Autonomous Organization whereby the holders of the coin have the opportunity to vote on various proposals around the economic activity of the coin. How it gets distributed, governance, investment, etc.
A key element of our ecosystem reward pool, which accounts for 60% of the total issuance, is that individuals or companies can submit proposals to the DAO and request funding for projects or businesses. If the DAO approves the proposal then Fa$h will be allocated and released to the project in tranches based on KPIs being achieved.
As Fa$h will be convertible to stablecoins and available on various exchanges it can be converted relatively easily to other currencies.
We have allocated up to 10% of the ecosystem reward pool for the Green Lane. This will be specifically for distribution of Fa$h to projects that address the issues that wasteful or damaging practices in the traditional apparel industry cause.
Examples of areas that could be of interest for funding (not exclusive or exhaustive by any means!)