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FRKT Migration
  • We have settled for a migration from $FRKT (preIDO token) to $FRKX (IDO token) instead of the previously mentioned airdrop. Weโ€™ve come to the conclusion that having a single, strong, token will be clearer and more efficient.
โœ… We stopped all the $FRKT emissions (from single staking, from Frakts staking and from Raydium farms)
โœ… We burned 40M of $FRKT so only 10M $FRKT remains โŒ›๏ธ Closer to the IDO we will airdrop a little over 1M $FRKT to Gnomies holders in order to restore governance parity (as Frakts already receive it)
  • From that point $FRKT should be considered a preIDO token, and we wonโ€™t recommend trading it since liquidity will be low and volatility high. NFA, but your best option to get exposure now is via our NFTs that will emit $FRKX as sustainable passive income.
  • The 10M remaining $FRKT will be allocated 5% of $FRKX supply. At this conversion rate, $FRKT holders will be diluted by factor 20 BUT we will raise public sale at at least 30M$ valuation, which is more than x40 from current $FRKT market cap. So at current FRKT price (0,065$), so gain > dilution by a factor at least greater than 2. See simulations in FRKX tokenomicsโ€‹
  • Shortly after the IDO, $FRKT holders will be able to convert their $FRKT to $FRKX with a progressive linear unlock over a year. Locked tokens will be eligible for their share of passive income.
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