FrenCoin: The beginning of the journey
We are living in a time of division, in which the general view of the world is ‘us versus them’. This leads to a lot of unfriendly (or unfrenly as we like to say) interactions, both online and offline. Specifically in the crypto space, as the technology is completely new, bad people take advantage of this situation and try to create tokens to scam others and rob them.
FrenCoin was made with wholesomeness on its mind, it was developed to help in correcting this aberration through promoting wholesome on and off-blockchain interactions. This does not only include the creation of this token, but also a very high presence in social media, music, and art. As a result, the community feels encouraged to take part in this amazing journey and thus, will be rewarded for holding the token. All of this is done while ensuring that anyone who finds themselves in the need for exchanging their Frencoin can do it perfectly by ensuring liquidity in a renowned exchange like Pancakeswap.
The meme behind the central image of FrenCoin is known as Apu Apustaja, or “Help Helper” in English. It was created as a variation of the famous Pepe, which is a central figure for internet culture, as a more friendly version that only wants to help and make more frens along the way. It is the same with FrenCoin, it is designed to help frens and make more frens along the way.
FrenCoin was designed to be a community-led project. To that end, the members of the community — that is, those who hold the token — are encouraged and incentivized to participate in the creation of many of the delivered FrenCoin products, as well as those planned for future release. These incentives are conducted in various ways. For example, the NFTs that FrenCoin is releasing in its near future are community-made and voted. Another example is how FrenCoin has already a single out in Spotify made by a member of its community, which you can hear below.
The FrenCoin development team set out to create a coin with two main functions: first, the coin must always have liquidity to be tradable; second, the coin should reward those that hold it and encourage them to continue to do so. To achieve these objectives, we have implemented a protocol that collects a 10% fee from each transaction of FrenCoin. Of this fee, 5% is reflected to holders of FrenCoin, proportionally, based on the amount each individual holds. The remaining 5% is collected by the smart contract and returned to the liquidity pool automatically at specific intervals. These operations ensure that there is always liquidity, but do not require FrenCoin holders to act as liquidity providers, thus subjecting them to impermanent loss in the event of major market fluctuations. Instead, all holders gain rewards for holding the token, while each token transaction adds to the liquidity pool.
FrenCoin and its future are bright, but it cannot be done without frens like you, the person reading this article. So consider visiting us on our website so that you can learn more about this shared journey.
