Since FRĀMD successfully deployed the $FRMD smart contracts on July 11, the treasury has been slowly accumulating funds both from the trading tax and the daily node rewards. As per the whitepaper, one of the primary functions of the treasury is to serve as a reserve for “funding the protocol’s growth and potential partnerships”; and for the first time, the FRĀMD the treasury funds are going to be used to do just that.
The treasury currently holds:
- 2,050 $bnUSD
- 587 $sICX
- 138,773 $FRMD
FRĀMD X Redemption
As a main validator on the ICON Network, FRĀMD will be using 2050 $bnUSD from the treasury to sponsor Alter’s Redemption proposal for the upcoming CPS round (Starting on November 7, 2022) as well as providing the development services needed to build the product. Additionally, FRĀMD and Alter continue discussions on having Redemption become the latest partner in the Art-Fi ecosystem (more information on this later)!
The Redemption Platform represents the next phase of Alter’s vision in connecting physicals to the blockchain. It will be dedicated to redeemable NFTs backed by physical items and will feature a marketplace connecting creators, brands, and projects with their customers. Users will be able to Mint, Trade, Gift and Redeem NFTs for physical products and also use Alter’s merchandise services.
Redemption offers unique value and is a great way to increase the adoption of blockchain technology. The team would very much appreciate it if FRĀMD community members took some time to review the Redemption proposal available through this link.
Boosted Yeti Minting Rewards
The amount of $FRMD distributed when a Yeti NFT is minted will be increased by 20%. Each new yeti mint will now earn 180 $FRMD instead of the usual 150 $FRMD. The addition $FRMD tokens will come from the treasury and not the token reserve i.e. the additional tokens will not increase the circulating supply! This is applicable as of November 1, 2022.
It has always been the team’s intention for the Yeti Strong Club to grow organically until the collection is sold-out. Despite the bear market and because of this collection’s unique advantages, the team strongly believes that it will continue to attract new holders as the FRĀMD ecosystem expands.
Read on for a quick summary of what makes the YTSC special:
- The only only collection to earn 1.5 $FRMD per $ICX on mint (now up to 1.8 $FRMD).
- They are the only FRĀMD NFTs to earn daily $FRMD token for 1 year after mint.
- After the first year, FRĀMD will introduce NFT staking allowing Yeti holders to continue to earn $FRMD in passive income.
- Yeti holders are automatically whitelisted for ALL FRĀMD ecosystem projects.
- Yeti holder qualify for discounts, drops and more.
Additionally, the team recently revealed more information on the utility of the YTSC within the upcoming P2E trading card game, Thaenia — Dark Tides. These include discounts, unique playable yeti card drops, merch drops, and of course automatic whitelist spots for all yeti holders (Read the full announcement here)
