// MEERKAT // FAQ //
Have Fun Corporation
1 What is Meerkat ?
Meerkat is the simbol of the Have Fun Corporation. Meerkat is also a utility token based on the Ethereum network. It serves as the official currency of our trusted tour guide application Meerpackr. The Meerpackr APP navigates travelers to various token acceptance points along their journey abroad.
2 What is Have Fun Corporation ?
The Have Fun Corporation is a well established european tourist guide technology and advertisement company. With our current headquarters in Barcelona and Budapest we work in major european capitals bringing tourists and local merchants together. For more information please visit our corporate website.
3 What is the utility of Meerkat Tokens ?
The Meerkat Token has utility for both merchants and consumers. Merchants usually offer 10%+ discount from their services if you pay with Meerkats. Besides holding merchants also have the option to send us back their collected Tokens for a contractual FIAT amount. Therefore Meerkat acts like a stablecoin for the merchant. This way we can eliminate the biggest barrier in wide scale adoption. From a perspective of the merchants price volatility is a huge issue with cryptocurrency payments is general.
4 Why should any merchant accept Meerkat instead of Bitcoin ?
Right now the lack of wide spread adoption is the main barrier in the cryptocurrency revolution. Transfer times and fees can be drastically reduced by second layer Bitcoin solutions. However the real reason why there are not many acceptance points is simply the high price volatility of crypto in general. If you sell goods in a usual business you can not afford to lose 5% of your income in a matter of hours. A merchant pay bills and also the VAT price for sold goods in local FIAT. They have to see at least a reasonable stability in the currency they accept. This is why stablecoins are so important for mass adoption.
5 How can Meerkat overcome the price volatility issue ?
Merchants can use an exclusive smart contract that is not accessable for the public. This smart contract allowes merchants to send back their collected tokens to the Have Fun Corp. As a return the merchant can issue an invoice to the us for the exact FIAT value of goods/services sold for Meerkat Tokens. We fulfill the invoice by issuing an equal FIAT payment to the Merchant within 48 hours from the day of receiving Tokens.
6 What happens if the price goes up or down?
Consumers have to pay less Meerkat for the same services and vica-versa. If the price goes up merchants are incentivized to hold their collected Tokens. If the price goes significantly lower merchants are likely to send us back the collected Tokens in return for the contractual FIAT amount of sold goods. Each time we receive merchant Tokens 10% of those Tokens will be burned in order to reduce Token supply.
7 What is the biggest benefit for the merchant ?
Our tour guide application will lead customers directly to the acceptance points along the way. We offer the easiest way for getting cryptocurrency user customers by taking them there with a reliable navigation app. Merchants can take part in the cryptocurrency revolution without taking the risk of any price volatility. As the price goes up they are all incentivized to hold their Tokens for more gains. As 16% of Tokens is allocated for merchants it is a pretty big sum of overall supply. Merchants are incentivized to work together to keep the increasing Token value.
8 What is the biggest benefit for the consumer ?
Every Meerkat acceptance point offers at least 10% discount from their prices when payed with Meerkat. This is a mandatory part of our business aggreement. The exact amount of discount depends on the service provider but it is usually within the 10-30% range. More expensive places like high-class restaurants tend to offer higher discounts.
9 ERC20 payments are slow. Do merchants accept this limit ?
A big part of our business is to educate our european partners (restaurants, cafeterias, bars etc.) about cryptocurrency payments. Our approach guarantees that our partner understands the fundamentals and current technical limits of such payments. A cheap ERC20 payment can take up to 10 minutes. Our partners understand that so for example in a restaurant you have to pay the moment you receive your order. By the time you finish your meal your payment shall arrive to the restaurant's Meerkat wallet and you're good to go.
10 Why release Token payments now instead of free and instant Coin payments later on ?
Simple answer is the Token is a test phase for merchants. We are contantly educating our partners but we also want to offer them a practical use right now instead of making promises for the future. The Token aspect is not bad at all as merchants have to learn the fundamentals such as creating an Ethereum wallet, make swaps between different currencies, getting familiar with public/private keys, block explorers and transaction mechanics. Education and practical use is the fastest way towards mass adoption.
11 Where can I pay with Meerkat Tokens ?
In 2018 you can only spend your tokens within the geographical area of the European Union. Most acceptance points are restaurants, cafeterias, bars, attraction sites and similar facilities. US markets will be adopted by 2019 Q2. Asia markets are the most complicated due to their hectic regulation and taxation. Token acceptance point directories are available in the Meerpackr Application.
12 What can drive the price up ?
Merchants are directly incentivised to hold their Tokens. If a merchant decides to send Tokens to the Merchant Smart Contract only 90% of those Tokens will make it back to market circulation. 10% of spent Tokens will be burned after each merchant withdrawl. So a merchant can either hold his Tokens or they can send them back for FIAT where 10% of Tokens will be burned. Both cases have positive effect on the price. As merchants hold their tokens less and less tokens are available for consumers to spend. This aspect alone guarantees increasing demand for the Meerkat Tokens.
12 How can I participate in this ?
You may participate in one of our Token Sales periods. Each period comes with a certain discount so the sooner you buy your Tokens the more you will receive. In order to participate please visit our official ICO website.
13 When will you send me my Tokens ?
The ICO smart contract will send your Tokens immediately to the same wallet used for buying Tokens. Therefore make sure to use an ERC20 compatible wallet!
14 How will you spend ICO funds ?
Our company has a stable income as we have more than one business aggreement with each of our partners. Our persistent income is based on selling advertisement space in our quarterly magazine and tourist guide application. This stable income covers our operative expenses including the further crypto developments. Therefore we can spend most of the funds on massive education events, merchant meetings and roadshows. It is also the best for the price as basically these events will be an outstanding marketing tool for raising Token demand. Yet these events will reach and educate thousands of potential acceptance points about cryptocurrency and the blockchain in general.
15 Do you have any bounty programs ?
No. Bounty programs have come under scrutiny from financial regulators like the United States SEC. The SEC’s point is based upon the Howey Test and how it applies to bounty programs. Based on this theory almost all bounty-promoted tokens are in fact securities and are therefore subject to the SEC’s securities regulations. The Meerkat Token is a utility token and we ignore any marketing tool that can make it fall under securities law.
16 Do you plan to make airdrops ?
No. We do know that such tool can be very effective to generate buzz. However it is much more important to maintain a healthy portfolio of Token holders. Airdropped tokens are always subejct to instant sale as soon as market price goes up. This goes against the interest of actual investors by people who basically just signed up for some telegram channel and probably cant wait to sell their free tokens. We will defend our investors from such scenarios.
Feel free to ask more question from the Meerkat Community on our Telegram!
Meerkat Token FAQ
HAVE FUN CORP.
2018