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Frakts vs Gnomies vs FRKT

FRAKT and Pawnshop Gnomies merged in March 2022. Below is a 5 steps recap on the differences and similarities between Frakts vs Gnomies vs FRKT

1) Investors can take exposure to FRAKT via 3 different assets

2) Each NFT collection is worth a total of 352,000 points

  • Each Frakt type is worth an amount of points equivalent to its rarity level (see table below)
  • Each Gnomie is worth 63 points (352,000/5555=63)

3) Holder benefits are proportional to amount of points (staked)

The main benefits for Frakts and Gnomies holders are :

Discounts on Flip loans

1 Gnomie = 10 Frakts points = 1% discount
Gnomies and Frakts can be combined to reach max discount of 100% (no interest to pay on Flip loans with cap at 500 SOL or 30 loans)

Raffle tickets for liquidated NFTs

1 Gnomie = 10 Frakt points = 1 ticket
Tickets refreshes every 24H. More details on liquidation raffles here

Sustainable passive income

1 Gnomie = 68 points
1 Frakt = x points depending on its rarity
Sustainable passive income (starting after IDO) will be distributed to Frakts & Gnomies holders proportionnaly to their amount of points. More details on the below mechanisms are available here

4) Holder benefits are proportional to amount of tokens

Directly starting at IDO, we’ll tie all protocol related utilities to $FRKX staking. Staked tokens will therefore unlock :
Governance voting power
Sustainable passive income (as shown in the infographic above)
Future protocol related utilities (listed here)

5) "What should I buy?"

It depends on : ● Floor prices at time of purchase
● Primary sought-after utilities
● FRKT airdrop (Frakts already received their FRKT emissions while Gnomies still need to receive approx 200 FRKT each just before IDO) For example at the time of writting this article :
People interested in reaching the 100% discount on Flip loans utility should buy Frakts because it is cheaper to accumulate 1000 points vs 100 Gnomies
While people interested in increasing their share for the upcoming rev sharing should buy Gnomies (or FRKT token) because the points/sol price of Gnomies is currently lower than the points/sol price of most Frakts.
Regarding the FRKT token, more advanced hypotheses on the price of FRKX at IDO (which will depend on participation level) need to be made. The higher the forecasted amount raised at IDO the higher the equivalent price for FRKT. Some simulations are available here
If you have questions don't hesitate to join our Discord or read our roadmap for Q4 2022