Anchorage Economic Development Corporation Announces Stake of 50M FLY Token

The granted stake from FlyCoin will expand AEDC's capacity to respond to the needs of Anchorage's economy

ANCHORAGE, Alaska and LOS ANGELES, June 13, 2022  /PRNewswire/ -- The Anchorage Economic Development Corporation (AEDC) announced today a contribution from FlyCoin, Inc., the world's first travel rewards cryptocurrency company. This donation is the first of its kind for AEDC and will provide future resources to support the mission of AEDC to grow and diversify the economy of Anchorage.

Operating since 1987, the AEDC works to support growth and diversity in the Anchorage economy, promote a favorable business climate and improve the standard of living of Anchorage residents. Funding sources for the corporation are mostly private contributions and contracts, with the balance from municipal, state and federal grants.

"We are very grateful for this generous contribution, and appreciative of FlyCoin's commitment to support the mission of AEDC" said Bill Popp, President & CEO of AEDC. "This is a substantial contribution that should provide our organization with expanded resources in the coming years to respond to the needs of the economy."

"Flycoin is excited to announce this investment in support of AEDC and its mission, as we continue to expand the ecosystem for FLY while helping bring innovation to spur economies in established cities like Anchorage," said Lenny Moon, CEO of Flycoin.

Flycoin has granted AEDC 50 million of its token FLY to hold. While FLY is not yet tradable on the centralized cryptocurrency exchanges, the token is currently trading above $0.02 on the decentralized exchange, Uniswap.

"We believe that FLY will generate an additional economic stimulus for the City of Anchorage through our first two partners, Ravn Alaska (which has already distributed ~$7M worth of FLY to approximately 300,000 users) and Northern Pacific Airways (which is expected to bring 1,000 international passengers through Anchorage daily year-round). Both of these companies are based in Anchorage, and we want to see the growth of FlyCoin benefit the City of Anchorage directly and financially" said Tom Hsieh, President of Flycoin.

About the Anchorage Economic Development Corporation (AEDC)

AEDC is a private nonprofit corporation, operating since 1987. It exists to encourage growth and diversity in the Anchorage economy, promote a favorable business climate and improve the standard of living of Anchorage residents. For more information, visit www.aedcweb.com.

About Flycoin, Inc.

FlyCoin is moving the evolution forward in loyalty programs by providing a cryptocurrency-based reward that is free from the limitations of traditional loyalty programs. FlyCoin's revolutionary technology infrastructure provides companies in the consumer loyalty space - including travel and hospitality, financial services, and more, with a powerful, turnkey solution to incentivize users in a more customer-centric way. Users can earn FlyCoin's newly minted token, FLY, reward doesn't expire, is easily transferable, and has an abundance of redemption options. Stay tuned and get project updates on Twitter. https://twitter.com/FlyCoinOfficial

For more information, please visit https://www.flycoin.org.

SOURCE FlyCoin, Inc.

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