The token: $FRK
$FRK token is a ERC20 token minted on the Polygon Blockchain. It is the store of value of the Frak ecosystem.
$FRK tokens have a fixed supply of 3,000,000,000.00000 units.
$FRK shall be listed on both decentralized and centralized exchange on the future and shall be publicly tradable.
Creators and Users will always own a majority of tokens and be able to make decisions through the DAO (see below)
$FRK Minting
$FRK earning 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 case of inflation burning could be decided by DAO (cf Hedging against inflation)
Besides, DAO could also decided to create an inactivity fee with automatic burning algorithm. For example, if Owners do not interact with the ecosystem and/or tokens during a long period of time, FRK token owner will have to pay an inactivity fee.
$FRK Initial Drop
| Description | Percentage | Number of tokens | Vesting Schedule |
|---|---|---|---|
Private Presale | 11.67% | 350,000,000 | Cliff : 12 months Vesting linear over 24 months |
Public Sale | 2.33% | 70,000,000 | Cliff : 3 months Vesting linear over 9 months |
Ecosystem Rewards | 50.00% | 1,500,000,000 | N/A |
Exchange Treasury/Liquidity/Staking* | 11.00% | 330,000,000 | N/A |
Team | 8.33% | 250,000,000 | Cliff : 6 months Vesting linear over 24 months |
Technology & Development** | 5% | 150,000,000 | Cliff : 6 months Vesting linear over 24 months |
Advisors and Marketing | 7.67% | 230,000,000 | Cliff : 6 months Vesting linear over 18 months |
Educational Program*** | 2.00% | 60,000,000 | N/A |
Creator Grants*** | 2.00% | 60,000,000 | N/A |
$FRK Lock up period for Private Sale
| Package | Vesting Schedule | Issuance | Price | Supply |
|---|---|---|---|---|
Private Presale Tier 1 | Cliff : 12 months Vesting linear over 24 months | 1,168,092 | $0.0096337396 | 0.2% |
Private Presale Tier 2 | Cliff : 12 months Vesting linear over 24 months | 64,267 | $0.0240843491 | 0.2% |
Private Presale Tier 3 | Cliff : 12 months Vesting linear over 24 months | 1,135 | $0.0337180887 | 0.2% |
* 1,000,000 FRK are minted every time the balance of the Treasury Wallet is below 10,000 FRK
** FRK are granted for every new developers involved in the development and the maintenance of the ecosystem
*** Those supplies are blocked and will be released after a decision made by the DAO.
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