It’s July 11, and as promised the $FRMD smart contracts have been deployed on the ICON Mainnet!
This is an important day in the FRĀMD ecosystem and an important milestone for everyone involved: our developers and team, our partner projects, and our awesome community.
Today we deployed 2 main contracts:
- $FRMD Token Contract
https://tracker.icon.community/contract/cx2aa9b28a657e3121b75d3d4fe65e569398645d56 - FRĀMD Treasury Contract
https://tracker.icon.community/contract/cxed0f02a1a61b483bd366021d68af8469414b7be8
What does this mean?
This allows for the following features to go live:
- Claiming $FRMD to your wallet:
Please note that buying an NFT on the secondary market will only transfer any unclaimed $FRMD from now on - Staking $FRMD to earn:
- 15% of daily node rewards (after node operating costs are met)
- 50% of secondary sales royalty fees from all ecosystem NFTs
- Future sources of revenue - Transferring $FRMD between wallets
- Tax system:
After the liquidity pool is deployed (coming this week) - Node Reward Distribution for $FRMD Stakers:
This is live but until we receive more votes, it is very small amount because the majority of current rewards go towards covering the node’s operating costs. For reference on daily node rewards, please check here (This is an alpha version; data, website, URL can change at any time) - $FRMD Voting Rewards:
Given the shift to bOMM, we are slightly delaying our reward distribution until Friday July 15, 2022 as we are implementing an additional incentive program for early voters. For more details please check here. - Secondary Sales Royalty Fees:
This is expected to go live after the $FRMD Voting rewards are implemented. We have noticed people trading Yeti NFTs between wallets and off of Craft. Please note that doing so:
- Reduces passive income from ecosystem rewards
- Will negatively affect the value of the $FRMD token
- Will not earn the traders any $CFT
- Exposes users to the risks of directly trading NFTs between wallets
Thank you for the community’s support so far. Many more announcements coming soon. Let’s build a great ecosystem together!
