Join the $FT token sale on KuCoin
While the bear market seems to be never ending, builders aren’t holding back and are continuously working around the clock to craft a cryptocurrency ecosystem suitable for everyone. KuCoin and Fracton are one of those builders, who continuously come up with innovative ways to spread the adoption of financial freedom. In light of this building efforts, KuCoin officially announced its 23rd spotlight event On the 5th of August and the native token of the Fracton project $FT is the coin to be listed.
Now what is Fracton all about and how does it work?
Fracton Protocol is the NFT liquidity infrastructure that provides permission-less liquidity and oracle for all kinds of NFTs. It is dedicated to abstracting the financial layer apart from the utility of NFTs and offering solutions for inter-protocol liquidity providers and fractionalized NFT market makers.
For me, the most interesting product from Fracton is the fractionalization of high end NFTs in a bid to make it affordable for all classes of investors.
Recently, KuCoin has partnered with Fracton Protocol to provide 5 NFT ETFs as underlying assets to its community. This partnership has released 2 projects, namely:
hiBAYC — An ERC-20 token representing 1/1,000,000 ownership of one BAYC in the collection vault.
hiPUNKS — An ERC-20 token representing 1/1,000,000 ownership of one CryptoPunks in the collection vault.
This makes KuCoin the very first CEX to offer NFT ETF to its customers. hiBAYC and hiPUNKS are currently available and tradable on KuCoin exchange.
Of what utility is the $FT token?
Fracton token(FT) holders play a key role in shaping Fracton Protocol’s future permissionless by proposals and vote governance. Fracton Protocol releases the financial attributes from NFT collectibles by fractionalizing NFT and enhancing the liquidity of the NFT market.
Fracton Protocol considers liquidity as an essential key for both decentralized exchanges and centralized exchanges, so Fracton is aiming to build a liquid market and become a solid financial infrastructure of the NFT ecosystem. The thing is, designing to fit financial logic is vital as well as the technical utility and scalability.
On the 9th of August, KuCoin would be launching its 23rd SPOTLIGHT EVENT which would be offering $FT tokens to qualified users. To participate in the event, participants need to meet the spotlight requirements which includes holding 100 KCS or more. KuCoin users who meet all the other requirements but don’t hold up to the minimum 100 KCS needed for the spotlight event can participate in the GLEAM CONTEST for an opportunity to get whitelisted and participate.
From August 9 to August 11, users with an average holding of more than 2,000 hiBAYC or 2,000 hiPUNKS will enjoy a KCS holding coefficient, where their final KCS holding will be multiplied by 2. Double opportunity = double the rewards.
No KuCoin account yet? Sign up with my link so that you can be part of this event. You also get 20% off on trading fees
Token Name: Fracton Protocol (FT)
- Spotlight Hard Cap: 600,000 USD
- Spotlight Allocation: 3,000,000 FT
- Spotlight Token Sale Price: 1 FT = 0.2 USDT
- Token Supported: KuCoin Token (KCS) Only
- Price Ratio: The actual price ratio of KCS will be announced on the day of the Token Sale
- Token Sale Format: Proportional Distribution Model (PDM)
- Spotlight Token Distribution: 50% will be unlocked at TGE. The remaining 50% will be on monthly linear vesting for 2 months.
- Total Token Supply: 100,000,000 FT
- Initial Circulating Supply: 2,490,000 FT
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