BANX Collection Unifies, Simplifies, and Increases FRAKT Attractiveness
Solana-based BANX collection will be launched to unify the FRAKT and Pawnshop Gnomies under one common flag. The new collection aims to unite the two communities and migrate the benefits of the two collections into one stronger PFP collection. The collection's main goals are to unify the art, market cap, and sales volumes and simplify brand recognition and relatability, benefiting both communities. The BANX art from tainaker is clean and universally friendly, which the creators believe will appeal to the Solana collectors and the community.
The collection has a supply of 20,000, with 10,000 Banx minted with Frakts, 5,555 Banx minted with Gnomies, and 4,445 new Banx minted with SOL. The creators believe that the additional minting of 4,445 Banx with SOL, with no dilution for existing holders, will boost acquisition of new protocol users, community members, and ambassadors and increase awareness for both BANX and FRAKT protocols. It will also increase trading volume for BANX, liquidity, and arbitrage opportunities, and revenue due to increased sustainable passive income for holders.
To mint more BANX without diluting existing holders, the community voted to shift 20% of the total amount from $FRAKT to BANX and attribute these points to the extra supply to be minted with SOL. The impact on $FRKT was minimized by proportionally increasing the $FRKT to $FRAKT migration rate. The strategic investors were also given the possibility to swap their $FRAKT alloc to BANX presale alloc (with no discount on mint price).
After minting, 70% of the raised funds will be allocated to Protocol Owned Liquidity (31,115 SOL) in automated lending strategies funding Bonds and in isolated lending pools funding Perps. Ten percent of the funds (4,445 SOL) will be allocated to BANX pools on AMMs directly after minting, ensuring guaranteed post-mint liquidity, which will allow minters to instantly reroll any of their BANX and stabilize the price to the upside.
The Solana-based BANX collection is expected to provide several benefits to holders, revenue share will begin in SOL directly post mint (and they have 10,000 SOL backlog), discounts on Flip loans (up to free loans), tickets for the Liquidation Raffles (buy liquidated NFTs at up to 50% below floor price), and cashbacks on Bonds. Soon, holders can expect boosts on User Rewards and Referral Rewards and governance votes. The guaranteed liquidity provided by the BANX pools on AMMs will increase trading volume and stabilize the price to the upside.
BANX is offering Presales and Whitelists for their upcoming mint. Presales can be purchased through DAO allocations by having the Discord role required to purchase. WL can be won by receiving a referral code from a holder or project/DAO and climbing the leaderboard through lending/borrowing activity to potentially win multiple Banx whitelists and blue chip NFTs. The Fraktlisting leaderboard competition will distribute up to 2,000 WLs to the top wallets in the leaderboard. The mint price for all Presales & WLs is 10 SOL, and the mint date is still to be communicated. Revenue share backlog is 10,000 SOL, and there is a chance to win 25 1/1s and rare, high utility points valued at 100+ SOL
In summary, the new BANX collection aims to unify the FRAKT and Pawnshop Gnomies communities under one common flag, creating a stronger PFP collection. The collection has a supply of 20,000, and additional minting of 4,445 Banx with SOL is expected to boost acquisition of new users, increase awareness of BANX and FRAKT protocols, and provide sustainable passive income for holders. How this plays out on secondary will be interesting, with a mint price of 10 sol.
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