What Is FRAKT (FRKT)?

FRAKT is a generative art project with an ecosystem that seeks to give unique access to the community, DAO, and an option to stake FRKT. FRKT is the token of the FRAKT ecosystem. A DAO (Decentralized Autonomous Organization) is a community-driven entity with no central authority. FRAKT is committed to advancing the Solana DeFi and NFT ecosystems. The platform intends 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 FRAKT ecosystem is a collection of NFT and DeFi ecosystem products that include:

• FRAKT Collection — Solana FRAKTs NFTs are the utility NFTs for all FRAKT products and are a generative art collection.

• Staking FRAKT: Staking FRKT NFTs allows holders to be safelisted for Sandbox private sales. Stakeholders in FRAKTs also receive the $FRKT token, which serves as a utility and governance token in the FRAKT ecosystem.

• FRAKT collection: The utility NFTs for all FRAKT products are the first generative art collection on Solana FRAKTs NFTs.

• 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 and adds the coins 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: Fraktion DEX 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. As per the whitepaper, the $FRKT allotment for the team and advisors can be unlocked over time using a smart contract. The platform also ensures that it happens automatically and without human involvement. It can be used for payments, team incentives, and more. FRAKT allotment can also be used for marketing, networking events, listing on larger exchanges, and more to keep the $FRKT ecosystem thriving.

History of FRAKT (FRKT)

Timur (CEO) is the founder of the FRAKT platform. Vedamir and Vlad are the cofounders of the FRAKT platform. The FRAKT platform includes a European team with combined expertise and experience in Web2.0 and Web3 on SOL, ETH, EOS, BSC, and Tezos.