Fren is a short form of friend and was developed as an inspiration to unite the general NFT and crypto ecosystem. The idea behind this platform is to bring utility to the $FREN token and enable the community to invest, share experiences, and engage together on a single platform.
Some of the features of the Fren platform are as follows:
FrenDEX is a decentralised investment platform where community members can invest in projects jointly.
FrenDAO is a community where the members can vote.
Finally, OnlyFrens is a social media platform where members can communicate, build, and share their experiences within the group. This platform will also reward users who are actively involved within the group. Some of the ways the users can be actively involved in the group are through content creation and interaction with other platform users.
The building blocks of the Fren ecosystem are blockchain and anonymity. This basically means that the platform seeks to provide a place where anonymous members can come together as a community, leverage on blockchain technology, and invest as they share experiences.
Community members within the Fren ecosystem will be categorised according to the amount of Fren tokens that they have. The more tokens you have, the more voting power and influence you’ll have to determine the direction of this platform. This is called “Fren power”. Some of the things that you can decide on when you have more Fren power are:
Reward distribution and community matters.
You can also get rewarded with FreNFTs.
You will also be able to access real-time analysis of markets and create customised trading strategies that can be traded on the FrenDEX platform.
So, in a nutshell, the idea behind Fren is to create an anonymous community on the blockchain that can learn, play, and invest together.
Currently, there are over 1 trillion FREN supplied. Currently, this has a market cap of over $3 million. The FREN token has a circulating supply of about 980 billion, with about 16 billion FREN tokens locked on time-lock smart contracts.
What makes Fren run on a DeFi approach?
The general inspiration behind development of the FREN token is to create an anonymous environment leveraged on blockchain, where users can learn, play, and invest together. The notion that users from different communities can come together and form one joint community that can invest in common projects together is best adopted using a DeFi approach. That is why community members can vote on the common direction of the platform. The only way that they can do this is if they have invested in the platform by owning FREN tokens, and they in turn get “Fren power”. This gives them the dual benefit of deciding on the direction of the token and also being able to access rewards – done through the rewarding system that is going to be implemented. Crypto investors within the Fren ecosystem will also be entitled to get FreNFTs, which will be distributed to them according to the amount of tokens they have in possession.
Some of the tokens have also been locked on time-lock smart contracts, and this may help in building trust and drive the price of the token up.
Which utilities are available in Fren?
The FREN token aims to leverage on anonymity and blockchain. These two form the basis through which all other products will be developed on the platform. The aim of the platform is to act as a DeFi protocol governed by the FREN token, governed by the FrenDAO. Holders of this token will be able to vote and decide the general direction of the platform. The more tokens you have, the more voting power will be attributed to you – this is called Fren Power. All this will take place on the FrenDAO.
Another core feature of the FREN token is the ability to get access to market insights and craft trading strategies that you can use for trading in the FrenDEX. This platform is uniquely designed to help community members access market-penetrating insights that will help them generate profitable trades. Community members on the FrenDEX will be able to access and invest in wallets and tokens that are profitable in the market. Crypto investors also have the advantage of sharing their profitable trades and charts with other members within the network.
Another notable feature on the Fren ecosystem is OnlyFrens. This is a one of its kind social media platform that will be hosted on the Fren network. Members on this social media platform will maintain their anonymity. They will also be actively involved in events that will take place on the platform from time to time. This feature will be integrated with all other features, thereby enabling members to trade, vote and interact on the platform.
FreNFTs is another notable feature that is on the Fren platform. These are NFTs that will be released to FREN token holders within a given time frame. They will be released in the form of an Airdrop.
How does the Fren token revolutionise social communities?
The FREN social token acts as a coin that has internal value. This is called seigniorage. Promoting a community that can work, learn, and play together may attract enough crypto investors to help drive the value of the coin. The social media aspect within this platform is also crucial in promoting the value of this coin as not many coins have this capability. Giving people a chance to interact together, have fun together and also invest together presents limitless opportunities through which previously unknown growth could be achieved. Until now, very few social communities and platforms had one common agenda through which they could channel their efforts. Fren seeks to solve this by presenting a platform where communities can come together and grow together.
OnlyFrens is the social media feature of the Fren platform. This social media platform will only be available to FREN token holders. It is anonymous and decentralised, meaning that your identity will not be revealed, and it will be governed through the FrenDAO. Token holders can decide on the direction of the social platform. Members within OnlyFrens will be able to take part in multiple activities and events that will be organised within the platform. This will be a chance for FREN holders to come and meet other members within the community. The main reason for hosting the events will be to enable FREN social token holders to have a great time as they interact. Community members can also share their strategies, insights and techniques with other members on the Fren network. The members of this social media platform will also be able to get access to NFTs and other products that will be integrated into the Fren ecosystem. The community members within the network will also have the advantage of using their NFTs as their profile pictures on the platform. This is unlike other social media platforms that are limited in usage and centralised.
What are the benefits of Fren for crypto investors?
Fren offers a unique opportunity to invest in a social token that seeks to enable token holders to learn, play and invest together. This three-pronged approach provides fertile ground for the token to increase in price with time. FrenDAO provides a great opportunity for token holders to learn as they vote on the direction of the platform. This means that the more Fren power you have, the more say you’ll have in the direction of the platform. Crypto investors will also have fun using the OnlyFrens social media platform. This social network also presents a chance for the investors to network with others on the platform, learn about their strategies, and also get some insights on new products that they can invest in. The events are also “feel good”, where fun is the central theme. OnlyFrens also enables crypto investors to share their trading strategies from this platform, get access to charts and also view what other notable investors are engaged in.
Crypto investors who purchase FREN social tokens will also have a chance to get rewards from time to time. One way in which these rewards will be disbursed is through FreNFTs, which will be given to token holders over a limited period of time. The holders can also use these NFTs as their pictures on the social media platforms.
The FREN social token is also listed on BKEX and Uniswap, meaning that holders can liquidate their positions with ease. Currently, the token has a market cap of about $3 million.
CONCLUSION
Crypto is indeed making inroads across the globe. We are seeing more investors taking a keen interest in the crypto space. As more people get involved in this space, new developments spring up and more utility is found for these coins. From a simple concept that sought to decentralise money and put it back in the hands of people, crypto and blockchain have evolved into a complex ecosystem, permeating all levels of society.
DeFi is just one of the angles through which blockchain can be leveraged. Even though this industry is still nascent, complex algorithms and exciting features have been on boarded into this subsector, thereby helping deepen the growth of DeFi products. Fren seeks to take this to a whole new level by incorporating social communities into the DeFi ecosystem. This is indeed revolutionary as it not only creates a platform for crypto investors to meet, play and learn, but it also presents them with an opportunity to create value from their interactions through the FREN social token. This is a good investment for anyone who would like to get into the DeFi ecosystem, and also for the skilled crypto investors out there.
The overall aim of the Fren platform is also quite appealing as it resonates well with the current generation of crypto investors – fun-loving, outgoing and keen to invest. It is expected that this community will continue to grow as more holders are onboarded. The team has also managed to achieve most of the milestones set up on their roadmap. This shows that they are on track, and we envisage better token price adjustments and growth in the future. Listing the token on BkEX and Uniswap also serves to increase value of the coin. Crypto investors can easily liquidate their tokens or add more to their positions when the need arises. The platform is also on track to releasing NFTs as they work to list in a major exchange. This will definitely deepen liquidity and enhance the brand image of the platform.
So far, having a market cap of about $3 million already demonstrates that significant progress has been achieved by this platform. Their social media pages are also gaining in popularity and there’s lots of excitement and enthusiasm from crypto investors concerning this project. We expect that as more products are rolled onto the ecosystem, then we will also see a direct increase, not only in engagement levels but also in the token price.
Finally, the core products that are offered on this platform are a great addition to the DeFi ecosystem. Long-term crypto investors should watch out on how these developments pan out. It is expected that the FrenDAO should grow as more investors are onboarded. The current token price offers a good chance for investors to get in early enough. It will also offer the investors a good chance to have a higher stake at the FrenDAO and be able to chart the direction of the platform. The social media arm of this project is also a great addition for investors. It will not only expose them to profitable insights from leading investors, but will also help the investors to network with other like-minded individuals. The fun events hosted on this platform will also help deepen engagement and provide an avenue where community members can unwind.
Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.
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