Why 20,000 supply?
10,000 Banx to be minted with Frakts
5,555 Banx to be minted with Gnomies
4,445 new Banx to be minted with SOL via Presales & WLs
Advantages
We believe minting 4,445 extra Banx with SOL (with 0 dilution for existing holders - see tokenomics adjustments below) will strongly benefit the FRAKT protocol & community by boosting:
â Acquisition of new protocol users (Whitelisting is tied to protocol usage)
â Acquisition of new community members & ambassadors
â Awareness for both BANX & FRAKT protocol
â Trading volume for BANX (more liquidity and more arbitrages opportunities)
â Protocol revenue, due to increased Protocol Owned Liquidity
â Sustainable passive income for holders, due to increased protocol revenue
Tokenomics adjustments
In order to mint more BANX without diluting existing holders, the community voted to shift 20% of the total amount of Partner points & Player points from $FRAKT to BANX and attribute these points to the extra supply to be minted with SOL
In tokenomics V1 the utility points split = 50% NFTs & 50% $FRAKT
BANX (50%) | $FRAKT (50%) |
704,000 Partner points | 704,000 Partner points |
37,575 Player points | 37,575 Player points |
In tokenomics V2 the utility points split =60% NFTs & 40% $FRAKT
BANX (60%) | $FRAKT (40%) |
844,800 Partner points (+140,800) | 563,200 Partner points (-140,800) |
45,090 Player points (+7,515) | 30,060 Player points (-7,515) |
Impact on $FRKT
By shifting utility points away from $FRAKT towards BANX, we proportionally increased the $FRKT to $FRAKT migration rate in order to ensure $FRKT holders are not diluted either:
From 1 $FRKT = 50 $FRAKT to 1 $FRKT = 62.5 $FRAKT
Same logic for Seed and Strategic investors. We also gave Strategic investors the possibility to swap their $FRAKT alloc to BANX presale alloc (with no discount on mint price)
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