FUD (FTX Users' Debt) is the bond token issued by DebtDAO, the highest-quality creditor in the FTX event, and is the exclusive top-quality FTX debt asset issued by Huobi.

It has been confirmed through the contract provided by DebtDAO that the amount of this debt is tens of millions of dollars, and the early bird issue will sell FTX this debt at a discount.
1FUD=1 US dollar, the initial issuance and circulation of FUD is 20 million, and the fair price is 0<1FUD≤5USDT (depending on market fluctuations, the actual price may exceed the fair price). After FTX restores the database or FTX officially confirms the actual debt of the creditor, DebtDAO will issue additional shares according to the actual amount of the debt, and issue airdrops to all FUD holders. At that time, the fair price will be 0<1FUD≤1USDT (for example: if through FTX If the database or published debt information confirms that the actual amount of the debt is 60 million US dollars, an additional 40 million FUD will be issued on the basis of the initial 20 million FUD. Airdrop of FUD) DebtDAO will carry out debt repurchase for users holding FUD 1:1 after the airdrop ends.

FUD (FTX Users' Debt) Debt Description Twitter: https://twitter.com/debtdaoio/status/1621873403249709057?s=20&t=dCyKuOJT3BXNOCtbG-EXEg

Destruction Announcement

The initial total supply of FUD (FTX Users' Debt) is 20 million pieces. Due to the active purchase by users after the market opening, the price of FUD is much higher than the recommended price after the market opening (recommended price is 0<1FUD≤5USDT). DebtDao initiated a proposal on February 6 and after discussing with the community, it decided to destroy 18 million FUD tokens. After the destruction, the total issuance will become 2 million FUD, and the initial 1FUD=1 US dollar equivalent debt will be changed to 1FUD=10 Equivalent creditor's rights in US dollars, plus the value of the early bird airdrop, the recommended price of FUD after burning will fluctuate between 0<1FUD≤50USDT. Holders of FUD tokens do not need to do anything, and the value of FUD tokens will increase tenfold.

(Early bird airdrop: DebtDao will conduct FUD airdrops to FUD holders based on the actual debt amount announced by FTX.)