Hey everyone ☀️
From now we’ll be sharing weekly recaps of the team’s progress at all levels (strategy, business development, product development, marketing, HR, financials, …). This will complement the TLDR dev digests tradition shared in our Discord. We hope you guys will enjoy this new format ! Of course as always please don’t hesitate to drop any feedback or recommendation in our Discord
For this first weekly update, we decided to also include some elements of our high level strategy introduced in our previous article (What to expect for FRAKT in Q4 2022)
High level priorities
🔹 Build amazing products that users love, with a strong focus on scalability and composability
🔹 Build amazing (and unbeatable) long term (financial) benefits for our holders
🔹 Scale our internal organisation so we can onboard our new team members efficiently
General news
✅ Our fundraising deck is ready and we started our strategic round raise campaign last week, which we expect to take less time than the previous one according to the first very enthusiastic feedbacks we received
✅ Total protocol fees accumulated since the merger is now above 5,500 SOL. As a reminder this revenue being accumulated pre-IDO will be used to bootstrap our sustainable passive income mechanism starting just after IDO (as described in https://docs.frakt.xyz/frakt/holder-benefits/sustainable-passive-income-discounts-and-raffles)
✅ The first iteration of our public Risk Management dashboard is now available on https://www.cenit.finance/dashboards/frakt. As you can see significant resources are being deployed towards building a rock solid protocol.
Growth strategy
- Education as our spearhead to onboard more people into NFTxDEFI
- Key DEFI integrations ongoing in order to attract more lenders
- Progressively grow our marketshare with better and more scalable products. We value competition as it contributes to increasing the overall size of the pie. It will then be easier for us to convert additional users (that are already familiar use NFTxDEFI protocols) to FRAKT
- We are playing the long term game : NFTS are here to stay and the business cases keep on growing as they go deeper in complexity and wider in scope. In that context we are positioning ourselves as core building blocks for what’s ahead
- More (private) isolated lending pools as Go-to-Market strategy
- Strong referral program to boost organic growth
Products
- We finished our first Analytics dashboard that we will share as soon as we are done migrating it to our new BI tool
- We are currently testing our new app design that we all find very sexy & fun. We expect it to be much more appealing to our current target audience on Solana
- We are currently testing our Bulk loans feature already built on the new app design
- We are finalising the scaling of our Loans related infrastructure
- We already started working on the V2 for the liquidation raffles using all your valuable feedback and observations
- Supercharged loans are coming with down payments and collateral listing features
Bonds
We are heads down building our upcoming “Bonds” product that will enable more risky (high LTV) loans but also partial funding of loans and instant trading of loans themselves. UI and UX for the users will be very simple but built on a revolutionary technology. Indeed we invented the FND (the fungible NFT derivatives) standard that we believe will revolutionise NFT lending across all chains
Hadeswap
- Is the leading NFT AMM on Solana
- Will enable borrowing against NFT LP positions
- Hadeswap AMM infrastructure is the key building block enabling us to build our Bonds product, which will be the most competitive loan product on the market
- Our collaboration with Hadeswap enables us to get paid $ every month which is especially valuable in current market conditions
- In addition to that we managed to unlock incredible additional benefits for our holders, those will be communicated very very soon 🤑
Marketing
🎉 Next week we start our “Road to IDO” marketing campaign
🎉 The snapshot window for the airdrop to Gnomies holders will open very soon so stay tuned (and start delisting)
Closing words
With the recent introduction of Hadeswap to the FRAKT ecosystem combined to our upcoming Bonds (and Futures) that are being built with fungible NFT derivatives (FND), FRAKT could at the same time become the Aave, the Uniswap and the Synthetix of the next NFTxDEFI cycle (with much better tokenomics). For that reason we believe that if we continue building hard altogether as we are doing now, FRAKT has a really significant probability of becoming one of the future web3 giants 🔥
Have a great week !
