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Intro to Frak
Frak is the world's first Consumption-based Defi Protocol
The Frak Protocol is the world’s first Consumption-based Defi Protocol, designed to align the interests of creators and their community by more fairly distributing the value of content.
By investing in derivatives, named "Fraktions", tied to a specific content, users can earn a yield based on their consumption. Frak relies on a Proof-of-Consumption (PoC) consensus mechanism for processing transaction.
Fraktions are derivatives that are tied to specific content, such as a YouTube channel. The yield of these derivatives depends on three factors: the consumption of the content by the derivative owner, the consumption by the entire community of derivative owners, and the consumption by referees (people whom the derivative owner shared the content with).
Yes. From the moment a viewer watch a YouTube video, they are creating value with their consumer data. Frak allows to capture this value and redistributes it to users and creators.
In practical terms, when users consume a video from a given YouTube channel for the first time, they are granted with a free Fraktion that will allow them to be rewarded every time they consume a minute of video from this channel in the future.
The rewards for consuming content are distributed as follows:
- 35% goes to the derivative owner for each minute of content consumed
- 10% goes to a content pool that is shared among all the Fraktions owners at the end of the day,
- up to 30% goes to referees
- the remaining balance goes to the content owner if the content has been claimed.
All transactions within the Frak Protocol are conducted using the FRK utility token. Holders of FRK can exchange their tokens for other cryptocurrencies or for fiat currencies such as dollars or euros.
Advertisers can purchase advertising space using FRK, the received FRK are redistributed to the community via the Frak Foundation.
For their part, the holders of the FRK tokens are able to capture a fundamental value through its main utilities, receiving special deals from partners who accept FRK as payment, and gaining access to exclusive content from content owners in exchange for FRK.
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Last modified 9mo ago