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FAVR is a New Coin

A Digital Currency Made Possible by Blockchain Technology

It’s universal – You get a favor, you give a favor.


 

As Seen In The Following:

WHAT IS FAVOR?

A new coin based on social capital was announced by HUTN Inc. The coin enables people to transfer the right to receive a favor and the transferability adds liquidity to a form of personal currency that has been in use for centuries. Favors are a segment of the informal economy. An IMF Report states that the informal economy accounts for $28 Trillion globally. HUTN estimates that favors make up about $410 Billion of the informal economy.

WHY FAVOR?

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Around the world, FAVORS resulted in $413 billion in economic activity, a segment of the 28 trillion dollar informal economy as per a 2018 IMF report.


Why? Because they are the ultimate local currency.


FAVR represents a right to receive a favor. The right is valuable and the actual favor granted can be priceless to the Grantee.

FAVR WHITE PAPER

How It Works

 

You do a favor for someone and they’ll reciprocate. There has to be something in it for each participant – the favor grantor and the grantee. It happens a million times a week all around the world.


Most favors are very simple and involve family and close friends (people who share “Kinship”). For example, you walk my dog and I will house sit your cats while you’re away. It gets difficult when a favor involves people who don’t share Kinship. The Kinship boundary can be frustrating. Often times someone you don’t know well can be the biggest help to you by granting you a favor, or you may be able to easily grant a favor to someone you don’t know very well.


FAVR overcomes the Kinship boundary that limits favors to kinship by allowing transferability of a favor. Now, you know that if you do a favor for someone, you can have that favor reciprocated by someone. And the person who reciprocates doesn’t have to be the person you did the favor for. FAVR unlocks the value of favors by making it easier for everyone. FAVRs work and can be very powerful. For example, the singer Mariah Carey was signed by Columbia Records after her demo tape was given to the company’s CEO as a favor. For Mariah, a favor was the priceless start of her stunning career.


 

How to get FAVR

 

FAVR Coins will be distributed to shareholders of HUTN as its first “digital asset dividend.” If you are a shareholder of HUTN, a US Fintech company, you will receive this special dividend distributed (like an “Air Drop”) on December 12, 2018. HUTN trades under the symbol HUTN. To be eligible, you must be a HUTN shareholder by November 22, 2018.


Next, after the initial distribution, there are two ways you can get FAVR Coins. You can do a favor for someone and you will receive a FAVR Coin. You can then use the FAVR to ask someone for a favor or you can sell it. You can also get a FAVR Coin from someone who is willing to sell it or gift it to you.


In addition to FAVR, shareholders are also eligible for all other special dividends to be distributed by HUTN in the future. It is expected that FAVR will be listed on a cryptocurrency exchange. Details will be provided if/when it is listed.

 

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