As we said before, Frateria has the mission to create conditions for our community members to achieve the desired economic well-being level as this should make them happy as we believe.
For that we intended to create such conditions when whatever economic activity will be done among Frateria economic space, each Frateria member should be able to benefit from it.
Our first step was the creation of the “FRATERIUM” token (FRATE) that is basically a governance token of the Frateria community. So, each member will be able to participate in the decision-making process of the Frateria community. You can follow FRATE price evolution here: https://info.viper.exchange/token/0x5305d2fcfc9981c4518c498194df493968d1d822
Our second step is the creation of the “FRATERIUM RENT” token (fRENT) that represents the renting time of Frateria apartment fund. This tool will allow each holder of fRENT token to receive his share of fees generated as a result of each transaction with fRENT token.
How does this work? It is pretty straightforward: anytime a transaction involves fRENT , a 5% fee is generated, where 1% is burned and the other 4% are shared between all those that are holding fRENT in their wallets.
In other words, anytime someone is exchanging fRENT token for his rent or is sending, buying, or selling fRENT, each person that holds fRENT will receive his share of fees generated by this transaction.
More new tools to come — we work thoroughly on our mission to have our community members, happy people.
fRENT is a token that represents 1 minute of renting time of Frateria’s apartment fund. So each person that will rent the apartment can exchange fRENT for the time spent in that apartment, or exchange fRENT on ViperSwap ( here you can follow price evolution of fRENT: https://info.viper.exchange/token/0x52274a3af646153fab00b8605e1f6f7072ce71f3
The renting conditions are subject to individual renting agreements. The token doesn’t cover the expenses for the apartment’s utilities — this will have to be paid separately following renting agreement. The apartment fund is planning to expand during the upcoming 10 years to several apartments, based on raised funds and generated income. In the beginning, the token is accepted in exchange for renting time of the apartment that belongs to the owner of the fRENT token or any apartment with a maximum of 2 bedrooms in Ukraine, rented through Frateria service ( request form available on Frateria site ). To be able to extend the apartment fund, a Gem Mine hase started registration on TokenJenny.ONE ( https://tokenjenny.one )
fRENT protocol is as stated below:
DECIMAL: The decimal value for the fRENT is set to 9.
MAX TX %: Maximum transaction amount for any transaction performed is set at 1% to avoid speculative transactions that could damage the tokenomics of fRENT.
TOTAL SUPPLY :
In total there are only 6 000 000 fRENT tokens.
BURN FEE % :
The burn fee % is the percentage of every transaction that gets burned to address: “0x0000000000000000000000000000000000000001” and is set as high as 1%.
REWARD FEE % :
Reward fee % is the percentage of every transaction that gets distributed proportionally to each of the holders of fRENT and is set as high as 4%.
Utility of fRENT
1. Apartment rent payment acceptance: fRENT token = 1 minute of renting Frateria apartment fund and is accepted by Frateria as payment for the renting time of its apartment fund or apartments rented using Frateria service.
2. Transactions fees sharing: each holder of fRENT token will automatically receive his share of the 4% fee out of each transaction processed using fRENT token.
3. Value growth:
- Deflationary value growth resulting from burning of 1% out of each transaction processed using fRENT token. As result total supply will minimize pushing up the fRENT’s price.
- Value growth that is based on the growth of apartment fund. As result with the same amount of fRENT tokens, the holder will be able to rent more apartments of Frateria fund.
Initial liquidity was provided by Frateria for two fRENT liquidity pools:
1. fRENT/ONE (2500fRENT/900 ONE)
2. fRENT/FRATE (15811 fRENT/350 FRATE)
To ensure the development of the project and appropriate facility management, an amount of 10% (600 000 fRENT tokens) out of the total supply will remain on fRENT owner’s wallet: 0x83467035b4Dc7c64089605A4E90e7591f6Fc7e50
Rest of the fRENT tokens will be seeded to Gem mines or liquidity pools rewards.