The token: $FRK
$FRK Token: Fueling the FRAK Ecosystem on Polygon Blockchain
$FRK is an ERC20 token minted on the Polygon Blockchain, serving as the intrinsic store of value within the FRAK ecosystem. With a fixed supply of 3,000,000,000.00000 units, $FRK is designed to empower creators and users within the platform.
Key Features:
Blockchain Infrastructure: Built on the efficient Polygon Blockchain, $FRK benefits from low transaction costs and fast confirmation times, enhancing the overall user experience.
Limited Supply: With a capped supply of 3 billion units, $FRK ensures scarcity, contributing to its potential as a store of value.
Future Listing: $FRK is set to be listed on both decentralized and centralized exchanges, making it publicly tradable from February 10th, 2023. This opens avenues for broader accessibility and liquidity.
Community Ownership and Decision-Making:
Token Distribution: Creators and Users will always own a majority of tokens and be able to make decisions through the DAO (from June 2023). This structure allows token holders to actively participate in decision-making processes, ensuring a democratic and inclusive governance model.
Explore $FRK on PolygonScan:
For transparency and visibility into $FRK transactions and details, you can explore the token on PolygonScan: PolygonScan - $FRK Token.
$FRK stands as a testament to the commitment of FRAK to create a decentralized and community-driven ecosystem, where the value is shared among its participants.
$FRK Minting and Burning Mechanisms
$FRK Minting
$FRK earnings will vary over time based on the usage and actions taken by the community.
Creators and Users can earn $FRK every time a user interacts with any content registered in the Frak Protocol. The only way $FRK can be minted is by consuming some content.
$FRK Burning
$FRK has a limited supply, therefore, no burning mechanisms are set up. However, in specific cases of inflation burning could be decided by DAO (cf Hedging against inflation)
Besides, DAO could also decide to create an inactivity fee with an automatic burning algorithm. For example, if Owners do not interact with the ecosystem and/or tokens for a long period, the FRK token owner will have to pay an inactivity fee.
$FRK Initial Drop
| Description | Percentage | Number of tokens |
|---|---|---|
Private Presale | 11.67% | 350,000,000 |
Public Sale | 2.33% | 70,000,000 |
Ecosystem Rewards | 50.00% | 1,500,000,000 |
Exchange Treasury/Liquidity/Staking | 11.00% | 330,000,000 |
Team | 8.33% | 250,000,000 |
Technology & Development | 5% | 150,000,000 |
Advisors and Marketing | 7.67% | 230,000,000 |
Educational Program | 2.00% | 60,000,000 |
Creator Grants | 2.00% | 60,000,000 |
$FRK Lock up period for Private Sale
| Package | Vesting Schedule | Issuance | Price | Supply |
|---|---|---|---|---|
Investors | Cliff : 12 months Vesting linear over 24 months | 226,257,907 | $0.0481686981939 | 7.54% |
Private Presale Tier 1 | Cliff : 12 months Vesting linear over 24 months | 6,000,000 | $0.0096337396 | 0.2% |
Private Presale Tier 2 | Cliff : 12 months Vesting linear over 24 months | 6,000,000 | $0.0240843491 | 0.2% |
Private Presale Tier 3 | Cliff : 10 months Vesting linear over 24 months | 6,000,000 | $0.0337180887 | 0.2% |
Last updated