What is FRAKT Token?
FRAKT (FRKT) is a revolutionary generative art project that seeks to empower the community through its ecosystem. FRAKT's ecosystem offers unique access to its community-driven entity, the DAO, and an opportunity to stake FRKT. The token, FRKT, is at the center of the FRAKT ecosystem, and it serves as a utility and governance token. FRAKT is committed to advancing the Solana DeFi and NFT ecosystems by delivering high-quality tools and resources that enable all Solana initiatives to develop and thrive.
The FRAKT ecosystem comprises NFT and DeFi products, which include the following:
FRAKT Collection: This is a generative art collection of Solana FRAKTs NFTs that serve as the utility NFTs for all FRAKT products.
Staking FRAKT: Holders who stake their FRKT NFTs are safelisted for Sandbox private sales. Additionally, they receive $FRKT tokens, which serve as a utility and governance token in the FRAKT ecosystem.
FRAKT Sandbox: This is an internal launchpad focused on generative art. Depending on the nature of the FRAKT collection, projects are minted in either $SOL or $FRKT. Minting uses the proof-of-stake mechanism to generate new coins, which are added to circulation for trading.
Staking $FRKT: This enables holders to earn a share of Fraktion DEX fees, unlock reduced costs on Fraktion DEX, earn $FRKT staking rewards, unlock DAO voting power, and improve Frakts NFTs staking rewards.
FRAKT DAO: The FRAKT community votes on upcoming Sandbox initiatives and important future choices that affect the entire FRAKT ecosystem.
Fraktion DEX: This is a decentralized marketplace and liquidity protocol that allows users to create and trade NFT fractions, NFT derivatives, and borrow and lend stablecoins using fractions and derivatives as collateral.
The platform's whitepaper notes that the $FRKT allotment for the team and advisors can be unlocked over time using a smart contract. This ensures that it happens automatically and without human involvement. The allotment can be used for payments, team incentives, marketing, networking events, and listing on larger exchanges to keep the $FRKT ecosystem thriving.
The history of FRAKT (FRKT) dates back to its founder, Timur (CEO), and its co-founders, Vedamir and Vlad. The FRAKT platform comprises a European team with combined expertise and experience in Web2.0 and Web3 on SOL, ETH, EOS, BSC, and Tezos.
In conclusion, FRAKT (FRKT) is an innovative project that seeks to revolutionize the Solana DeFi and NFT ecosystems. Its ecosystem offers unique access to the community, DAO, and an opportunity to stake FRKT. FRAKT aims to set a standard for innovative community-driven projects by delivering high-quality tools and resources that enable all Solana initiatives to develop and thrive.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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