What Is Fracton (FT)?
Fracton protocol is an NFT-based liquidity infrastructure, aiming to provide unified solution for NFT liquidity population. The protocol is implemented as a set of smart contracts, designed to prioritize censorship resistance, security as well as gas efficiency. Fracton Protocol enables the NFT liquidity with 2-step fractionalization, making expensive non fungible assets into affordable shares.
Fracton Storage Key Points
|Circulating Supply||32,000,000.00 HIODBS|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
How does Fracton protocol compared to typical NFT market ?
As known to all, liquidity is a significant factor for NFT market trading. The better liquidity, the better price for NFT. Typical NFT market has limited depth due to its native character which is ownership can not be shared on the blockchain in any formal capacity. However, Fracton Protocol succeed to break up normal NFT into a new form in a cost- effective and DeFi-oriented way.
Fracton Protocol is designed to fractionalized any target NFT collections, instead of a single NFT token, by leveraging Chainlink VRF for swapping pNFT for a random Raw NFT (of the target collection) hold by the protocol.
Traditional swap relays on dedicated liquidity pools for swapping tokens. This requires initial liquidity and LPs for building the liquidity pool. Fracton Swap creates pool-less swap based on a “LRMB” mechanism. The swap always Lock/Release tokens on the one side of ERC721/ERC1155/ERC20 token pairs, and Mint&Burn tokens on the other side.
Permissionless design means that the protocol’s services are entirely open for public use, with no ability to selectively restrict who can or cannot use them. Anyone can swap, provide liquidity. This is a departure from traditional financial services, which typically restrict access based on geography, wealth status, and age.
The protocol is also immutable, in other words not upgradeable. No party is able to pause the contracts, reverse trade execution, or otherwise change the behavior of the protocol in any way.
By reducing the frequency and the volume of adding data to the Ethereum state, Fracton tackles the state explosion problem by creating a “stateless system” that runs on Ethereum mainnet with absolute cost efficiency.
Fracton protocol does not add any state variables to be updated for user actions. Furthermore, Fracton protocol reduces traditional token contract _balance state variable updates which:
- 1.reduce >25% gas in token exchange comparing to traditional swap, by its pool-less swap design, by mint/burn user address tokens instead of transferring between user address and swap.
- 2.reduce >50% gas comparing to traditional swap in converting BlindBox into pNFT, by embedding BlindBox business logic into Fracton pNFT contract.
All the fees can be governed by DAO which is built upon the Fracton Protocol.
Any address operates the transaction regarding to hiNFT will be charged transaction fee with rate 2‰.
Any address operates the redemption from hiNFT to pNFT or from pNFT to Raw NFT will be charged as redemption fee will rate 3‰.
$Fracton(FT) officially launched on the 11st of August 2022. The $Fracton token is an essential component of such infrastructures as it functions as the governance token, incentivizes user participation, and serves as the primary payment token of the Fracton ecosytem.
The total supply of 100,000,000 is distributed as such:
- 51% to DAO Treasury
- 14% to mining incentives
- 14% to funding
- 5% to advisors
- 10% to team employee
- 3% to marketing
- 3% to IEO
What is HIODBS?
hiODBS is an ERC-20 token representing 1/1,000,000 ownership of an ODBS in the Meta-Swap pool of Fracton Protocol. HIODBS is the first NFT ETF for Otherdeed Biogenic Swamp in the world.
Otherdeed for Otherside:
Otherdeed for Otherside is a collection of land plot NFTs for the Yuga Labs metaverse on the Ethereum blockchain. Each Otherdeed NFT grants holders the ability to claim Otherside land upon full Otherside launch. Each Otherdeed represents different environments and sediments within the Otherside.
HiBAYC is an ERC-20 token pegged to BAYC NFT by fractionalization. One HiBAYC token represents 1/1,000,000 BAYC in an on-chain BAYC Meta-swap pool operating by Fracton Protocol. The circulating supply of HiBAYC is equal to the total supply and based on the actual amount of BAYC in the BAYC Meta-swap pool. BAYC in the pool can be redeemed by HiBAYC from Fracton Protocol at any time.