Fintoch News

18/10/2023

Announcement on the Distribution of Cash Voucher Rewards for the "Collect Ingots, Claim Gold" Event 2023-10-17 |

We have a leaders meeting just ended
1) SG SCF headquarters rental already paid til March 2025
2) Global CEO this position will be appointed soon from the US company
3) SG office is the Headquarters for the Asia Pacific
This will be head by our Asia Pacific CEO Mr Micheal Wong
4) Ms YoYo resignation as Global CEO is accepted by the company
5) During this period she did things against the direction to the company n company decided to freeze all her account. She also trying to pull leaders to other platform or projects.
6) warning from company anyone found doing any biz other then SCF will have their account freeze too
7) During this recent changes a lot of pple are complaining why company doing all this . But one thing company did explain if company want to close its very easy for them to do it ( just off the app n switch off the server that’s it) why company still do so much things . This is bcos company want to carry on n move on .
8) company will re-open the market in HK , Macau , Japan , Taiwan
9) New Members using USDT to do staking Pledging or mortgage will be able to withdraw in USDT ( wait for official announcement)
10) FUSD and SCF how to cash out now only way is to turn into FSL in Pancakeswap .
FSL turn usdt in Pancakeswap
11) company now will focus to build up the LP in FSL in Pancakeswap
12) in the near future company will also open SCF/FSL or FUSD/FSL pairs
13) so now we are encouraged to enter or use our SCF or FUSD to play in Finsoul to get FSL
14) Philippines group we will create a CS support group chat for core leaders only as we will have a 24hrs CS support from company to answer queries n technical support

Lastly OSAKA event on the 21 Oct will carry on Sir Micheal willl be there.
SCF will continue to move on hope all will work together with the company direction.

17/10/2023

Announcement on the Distribution of Cash Voucher Rewards for the "Collect Ingots, Claim Gold" Event 2023-10-17 |

Dear SCF Users,

SCF has previously launched the "Collect Ingots, Claim Gold" event, and we would like to provide the following adjustments to the event rewards:

1. The reward distribution for this event will be settled on October 16, 2023, at 09:00 PST (Pacific Standard Time). After the reward settlement, "Gold Ingots" will no longer be distributed.

2. Users who have collected 15 or more (including 15) Gold Ingots will receive cash voucher rewards equivalent to 15 grams of gold (calculated at a gold price of 70 USDT per gram). The event will no longer provide physical gold rewards.



3. Once the settlement is completed, the cash voucher rewards for the event will be immediately credited to the user's wallet ID, and users can use these vouchers for node subscription.

We appreciate your continued support and trust.

If you have any questions or need further assistance, please feel free to contact SCF's online customer support.

SCF Group

October 16, 2023

11/10/2023

Announcement Regarding Completion of User Asset Liquidation
2023-10-11 |

Dear SCF Users,

We are pleased to announce that our company has successfully completed the asset liquidation process for users on October 9, 2023, in Pacific Standard Time (PST). Starting immediately, the SCF/FTC cross-chain functionality will be enabled in the app. Users can now convert their daily mined SCF into FTC at a 1:1 ratio through cross-chain swaps and trade them for USDT on the BSC chain via PancakeSwap.

Regarding users who belong to regions that have already exited, such as mainland China, Hong Kong, Macau, Taiwan, Japan, and others, you can withdraw the SCF obtained from node mining and perform cross-chain operations. Services such as staking, pledging, adding liquidity, and team rewards will be discontinued. For users in other countries and regions, all functions will resume as normal.

Starting from October 18, 2023, at 00:00 PST, after the completion of the subscription for the additional 2,200 Fin-Chain chain nodes, they will join the existing 10,000 Fin-Chain chain nodes and 100 Main-Chain chain super nodes in the mining process.

All rewards earned from user-level challenges will be converted into double cash vouchers and deposited into users' wallet IDs.

If you have any questions or need further assistance, please feel free to contact SCF's online customer support.

We sincerely appreciate your continued trust and support!

SCF Group
October 10, 2023

09/10/2023

Announcement on SCF’s permanent withdrawal from the Chinese market 2023-10-01 |

Launch of SCF Ecosystem Coin FSL and Commencement of FinSoul Mining

2023-10-09

Dear SCF Users,



After two months of thorough preparation, we are delighted to announce that SCF's first ecosystem token, FSL, will officially launch on October 8, 2023, at Pacific Standard Time. FSL is issued by FinSoul within the SCF ecosystem and possesses utility for capturing value and governance.



FSL Issuance Rules:

1) The initial price of FSL is set at 0.1 USDT, meaning 1 USDT equals 10 FSL.

2) A total of 100 million FSL tokens will be issued, all through the FinSoul gaming mining contract, and will be mined within six months.

3) FSL will have no private sale, no reserves, and no airdrops. Users participating in FinSoul games will have the opportunity to mine FSL.

4) We have added liquidity for FSL in FinSwap. FSL tokens mined by users can be easily exchanged for FUSD stablecoins or SCF native tokens.

5) FinSoul will accept bets in SCF, FSL, and FUSD simultaneously.



FSL Mining:

1) Each USDT wagered will earn 1 aFSL.

2) FSL mining is based on the amount wagered in games, with aFSL as the foundation.

3) For example, if User A wagers a total of 100 SCF today, the price per SCF for aFSL calculation is 50 USDT. In this case, the user will receive 50,000 aFSL. If User B wagers a total of 20,000 FSL, and the price of FSL is 0.1 USDT, the user will receive 2,000 aFSL.

4) Currently, only SLOTS-type games are eligible for aFSL calculation. Other games will not generate aFSL.

5) According to the FSL issuance rules, the mining contract can mine a daily maximum of 555,555.6 FSL tokens. The mining contract will distribute the daily aFSL production to users based on their proportion of total network aFSL. In other words, users with larger aFSL wagers will mine more FSL tokens daily.



FSL Buyback and Burn:

1) 80% of FinSoul platform's daily revenue will be used for FSL buyback and burning.

2) FSL adopts an extreme deflationary approach, continuing until the total circulating supply of FSL reaches 1 million tokens. This represents a 99% reduction.



As the first subsidiary token within the SCF ecosystem, FSL holds significant commercial value and will undoubtedly contribute to the growth and prosperity of the SCF ecosystem. We welcome everyone to explore the joy of FSL mining within FinSoul.



SCF Group

October 8, 2023

02/10/2023

Announcement on SCF’s permanent withdrawal from the Chinese market 2023-10-01 |

Dear users in China:

In order to ensure the normal business development of the platform and to comply with local laws and regulations, the SCF Group Board of Directors finally decided to permanently withdraw from the Chinese market. For users in China, we will complete the user's asset liquidation within 7 working days. Regarding the detailed asset liquidation process, we will introduce it in detail in a subsequent official announcement.

During the asset liquidation period, users in China will be restricted from using functions such as exchange, pledge, mortgage, adding liquidity, withdrawing principal, and withdrawing reward income. After exiting the Chinese market, all new users in China are prohibited from registering wallet IDs.

The above decision only applies to users in China, and users in other countries will not be affected.

We sincerely apologize for any inconvenience caused and express our gratitude for the support you have given us as users in China. Your contributions to the development of our SCF community have been substantial. We deeply regret this decision but please trust that we will continue to sustain the platform and strive towards achieving our goal of being listed on NASDAQ.

SCF Group
October 1, 2023

28/09/2023

Announcement on Additional Features for Collateralized FUSD Minting 2023-09-28 |

Dear SCF users,



In order to further promote the healthy development of the SCF public chain ecosystem, we officially launched the collateralized minting feature for FUSD on September 25, 2023, Pacific Standard Time (PST). Additionally, to enhance the diversity of collateralized minting products, the SCF Group has decided to introduce collateralization periods for FUSD collateralized minting on September 27, 2023, Pacific Standard Time (PST). Users who choose different collateralization periods for minting will receive varying daily yields.



The specific rules for daily yields based on collateralization periods for the collateralized minting feature are as follows:

1) Users who choose the on-demand collateralization period for SCF collateralized minting will receive a daily reward of 0.1% of the minted amount.

2) Users who choose a 7-day period for SCF collateralized minting will receive a daily reward of 1.1% of the minted amount.

3) Users who choose a 15-day period for SCF collateralized minting will receive a daily reward of 1.2% of the minted amount.

4) Users who choose a 30-day period for SCF collateralized minting will receive a daily reward of 1.4% of the minted amount.



The collateralized minting of FUSD is a financial derivative tool that can be understood as spot leveraged trading for SCF. With each use of SCF collateralized minting, users can obtain 50% of the collateralized assets in FUSD. If users exchange the FUSD minted through collateralized minting for SCF and engage in multiple cycles of collateralization, they can potentially obtain up to twice the amount of SCF collateralized assets, equivalent to a 2x spot leverage for SCF. Please note that non-professional users should exercise rational use of the multiple cycles of collateralized minting operation mode, as fluctuations in the price of SCF may lead to asset loss risks.



We sincerely appreciate your continuous support and trust. We look forward to witnessing the growth and prosperity of the SCF ecosystem together with you. If you have any questions or require further assistance, please feel free to contact SCF online customer service.



SCF Group

September 27, 2023

25/09/2023

Announcement regarding the adjustment of rules to suspend team rewards for negative net team deposits. 2023-09-24 |

Dear SCF users,

In order to promote the healthy development of the SCF public chain ecosystem, the platform has implemented the system rule of "Suspension of Team Rewards for Negative Team Net Deposits". However, due to the lack of consideration for the cross-impact of SCF transfers and the legacy issues of early invitation relationships, some users have exploited this loophole to transfer negative net deposit data to other normal users' teams, resulting in their team's net deposits being negative and unable to receive regular team reward earnings.

To effectively protect the core rights and interests of all normal users, the platform has decided to make the following adjustments to this rule:

1. The implementation of the "Suspension of Team Rewards for Negative Team Net Deposits" rule will be stopped.

2. The team earnings that have been suspended due to the "Suspension of Team Rewards for Negative Team Net Deposits" rule, including direct invitation rewards, indirect invitation rewards, management rewards, and MD+ bonus rewards, will be fully compensated within 7 days.

If you have any questions or suggestions regarding the above rules, please feel free to contact SCF online customer service.

SCF Group
September 24, 2023

24/09/2023

SCF Celebrates Mid-Autumn Festival with Global Chinese Community Announcement 2023-09-24 |

Dear SCF Users,



The SCF team has always upheld the belief in respecting the faith and traditions of our global users. As we approach the traditional Mid-Autumn Festival celebrated by Chinese communities worldwide, we are delighted to bring you a themed event, "Celebrating Mid-Autumn Festival with Chinese Communities Worldwide," to express our blessings to the global Chinese community!



Event Rules:



1. Participating in the event during the specified period allows you to earn gold rewards.



2. Users with a personal total staked investment amount of >= 10000 USDT are eligible to participate in the event.



3. Participating users will receive a "Gold Ingot" daily. Users who collect 15 "Gold Ingots" can redeem them for 15 grams of gold, while users who collect 30 "Gold Ingots" can redeem them for 35 grams of gold.



4. After participating in the event, all users' mining rewards, team rewards, staking rewards, and other earnings will be automatically staked. The system will combine all the daily generated reward earnings for users and perform delegated staking investments. Staking orders will be automatically generated after the daily team rewards distribution, with a staking period of "30 days, daily interest rate 1.4%, SCF" type.



5. During the user's participation in the event, all pledge orders will be locked into automatic re-staking status. After canceling participation in this event, the user can manually cancel the re-staking status.



6. Users can cancel the event at any time through the event page. After canceling the event, users can withdraw all newly earned mining rewards, team rewards, staking rewards, and other earnings as usual.



7. Event Period: September 24, 2023, 00:00 - October 24, 2023, 00:00 PST (Pacific Standard Time).

Friendly reminder: Users need to collect at least 15 "gold ingots" to be eligible to redeem a 15-gram gold reward.



We appreciate your continuous support and wish all our global users abundant happiness and wealth during the "Mid-Autumn Festival" celebration.



SCF Group

September 23, 2023

21/09/2023

SCF Malaysia event 21st September agenda! 💥💢👊 |

19/09/2023

SCF Malaysia event 21st September! see you there! 💥💢👊 |

17/09/2023

Hi all SCF members,

You are invited to a Zoom webinar.
When: Sep 17, 2023 09:00 PM Singapore
Topic: Latest SCF updates

Please click the link below to join the webinar:

Zoom is the leader in modern enterprise video communications, with an easy, reliable cloud platform for video and audio conferencing, chat, and webinars across mobile, desktop, and room systems. Zoom Rooms is the original software-based conference room solution used around the world in board, confer...

16/09/2023

Announcement on Optimization of User Team Total Reward Rules |

With the launch of the staking function, more and more new and old users have pledged liquid LP to the staking contract and received good team rewards. In order to promote the further healthy development of the SCF ecosystem and protect the interests of management users at different levels, the platform will optimize the team reward rules for management users as follows on September 15, 2023 PST (Pacific Standard Time):
​
1. The team’s cumulative net deposit will determine whether team rewards are issued. When the team’s cumulative net deposit is negative, all team type rewards (direct invitation rewards, indirect invitation rewards, management rewards, MD+ dividends, contribution value rewards) will stop being issued. Team rewards will not be distributed normally until the team's cumulative net deposits are positive.
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2. The remaining amount of the total team rewards will determine whether the team rewards are issued. When the remaining amount of the total team rewards reaches 0, the issuance of team rewards will stop. At this time, users can obtain the remaining amount of the team's total reward by increasing their own pledged liquidity amount.
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Remaining amount of total team rewards = Total team reward amount – Total team rewards
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The total team reward amount is calculated based on the total account pledge amount:

1) The total team reward amount for ordinary users is 1 times the user’s own pledged liquidity amount;
2) The total team reward amount for GM users is 2 times the user’s own pledged liquidity amount;
3) The total team reward amount for VP users is 3 times the user’s own pledged liquidity amount;
4) The total team reward amount for SVP users is 4 times the user’s own pledged liquidity amount;
5) The total team reward amount for ED users is 5 times the user’s own pledged liquidity amount;
6) The total team reward amount for MD users is 6 times the user’s own pledged liquidity amount;
7) The total team reward amount for MD+ users is 7 times the user’s own pledged liquidity amount;
8) The total team reward amount for MD++ users is 8 times the user’s own pledged liquidity amount;
9) The total team reward amount for MD+++ users is 9 times the user’s own pledged liquidity amount;
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Thank you again for your trust and support!
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SCF Group
September 15, 2023