Twilx released an exciting announcement this week – it acquired Fitrova with a full buyback for investors who are participating in Fitrova’s official ICO. The good news for investors is that their FRV tokens will be converted to Twilx SEO tokens.
The acquisition certainly comes with consequences for Fitrova – it will need to be rebranded into Twilx and the process is likely to eliminate past FUD and promote the mass adoption of SEO tokens. In an article released by Fitrova, its acquisition by Twiilx offers investors a full FRV token buyback. Keep in mind that investors had to have purchased the tokens during Fitrova’s ICO phase, which took place from March 26, 2018 to April 30, 2018.
Twilx is offering investors token buyback at a pre-ICO price for all of the tokens that they purchased during the ICO at the aforementioned dates. Once Twilx buys back the tokens, the tokens will be burned and converted into Twilx SEO tokens, which are converting at 1,468 FRV, which is equal to 1 SEO. Accordingly, each SEO token will be worth $7.148 USD at the initial listing, equaling a total of $119.7 million USD.
On the other hand, those who purchased FRV tokens post-ICO on an exchange, they’ll be able to swap the tokens for SEO at the market rate, plus a 10 percent bonus. As a result, any amount of FRV swapped will automatically be granted the 10 percent bonus. The next question that arises is:
What’s The Plan For FRV and SEO Tokens?
Current exchanges will still list FRV tokens, but the takeover by Twilx has caused a full coin swap and therefore, FRV tokens held by investors will be swapped for SEO tokens. The good news is that the SEO tokens are fully compatible with the Twilx brand and investors will have a share of the Twilx entity as a result of their SEO token ownership.
In terms of what Twilx’s acquisition means for Fitrova’s projects, fortunately, the acquisition will have no impact. Fitrova projects that are in place will not be impacted and neither will the token that will be used. Of course, the only difference is that the tokens in the application will no longer by FRV tokens, but SEO tokens.