++Fairies Finance++ is a network introduced to provide a vast array of choices for the average investor introducing various tools including wallets, NFT, Dapp, Exchange, blockchain, and Launchpad. The project launched in 2021 and it describes itself as the only network focused on speeding up the adoption of NFTs, Metaverse, and other crypto services.
Fairies Token ($FRS)
The most flagship asset of the Fairies Finance ecosystem is the native coin Fairies. This token will add value to the investment life of the average investor.
The $FRS token will be free from the aggressive volatility seen in the crypto space. There are limits sets that ensure zero whale manipulations of the prices.
FRS is used in the Neverland game, NFT marketplace, an Exchange, and Blockchain in the future. But, what are the top features of the $FRS token?
Here are a few;
- Secured and safe
- Quick transfer
- Decentralized
- Easy usability
- Scalability
$FRS Tokenomics
The tokenomics of the Fairies token are set to ensure the network will be sustainable for the long term. Here is how the tokenomics work;
Marketing
5% of each buy or sell transaction will go to the marketing wallet. The funds will help in promoting this project in the crypto space.
Buy Back Wallet
According to their page, 2% of every transaction will go to the buyback wallet. The amount will help purchase the Fairies from circulation in a mission to make the token deflationary.
ADA Rewards
The network also sets aside 2% of the transaction values to purchase ADA. The ADA helps reward the average investors and FRS holders. By offering ADA rewards, this network is encouraging portfolio investments.
Liquidity Pools
As part of the tokenomics, the network sets a 2% tax to go to liquidity pools. The tax will help strengthen the token’s liquidity in the DEX.
**Fairies Finance: The Services **
Neverland Game Overview
The Neverland game is one of the most vital projects in this ecosystem. It is set in the Islands of Neverland, where fairies and humans exist peacefully. There are many Islands, each representing a different world.
Players travel to far lands using airships to get the best creatures. Only by having the best creatures and tools can you be the best tamer.
There are pirates, goblins, redcaps, hags, and other spirits which fight against humans and fairies. You will need to garner your friends, best weapons, and creatures to beat the enemies.
The network combines a play-to-earn and stake-to-earn mechanism to ensure the gamers earn incomes.
FRS: The Blockchain
The need for introducing FRS blockchain is because of the increasing issues in the NFT and Metaverse, leading to lagging adoption. Issues like lacking scalability and high gas, slow the adoption of NFTs, P2E games, and the Metaverse in general.
This network intends to provide a more secure blockchain to attract more players in the NFT and Metaverse. The chain will have the features of interoperability and connectivity to other blockchains.
According to the whitepaper, the blockchain will make instant transfers, exchanges, and easy conversion of assets.
Non Fungible Tokens
According to their website, they have a new system to generate and distribute NFTs through gamers. The gamers will act like NFT miners, ensuring the NFTs are rare.
Through competing and completing levels, gamers will mine NFTs. The idea of NFT mining will bolster the scarcity of the asset, thus bolstering value.
Gamers will create their NFT art and sell them in the NFT marketplace. NFT credits will always go to the right person since the chain will have clear records of the owners.
Exchange
The network has plans to launch an exchange for crypto assets. This exchange will leverage the powers of the FRS blockchain and will allow the trading of different assets. One of the assets to trade in the exchange will be $FRS.
Launchpad
The network will introduce a crypto launchpad platform. Crypto launchpads are networks that help upcoming projects gain community support. FRS will launch the pad for the benefit of the forthcoming projects.
Wallet
Finally, the network will launch the wallet in the future. The wallet will mainly help in storing FRS tokens and NFTs.
Audit and KYC for Security
The network took a code audit from the Watchtower blockchain security network. This ++audit ++implored many tests that cleared FRS contracts from any severe vulnerabilities.
Aside from the audit, the FRS team also underwent a KYC scan. Panksale conducted the KYC scan to assure investors that the team was trustworthy and free from laundering charges.
To ensure transparency and trust, FRS posted the links to the audit report on their web page and ++media pages++. You can read the reports as part of your project research.
Benefits and Drawbacks of the Network
There are several benefits associated with the entires network. They include;
- High liquidity token
- Earn ADA rewards
- Marketing for long term sustainability
- Investors and gamers will benefit from security due to auditing and KYC
- Play games and earn money
- Scalability and low gas NFTs
However, there are some drawbacks that must be addressed. For instance, they have currently not listed the team members. Hopefully, they will address this in the future. The platform is new; hence investors must DYOR before staking their funds.
Roadmap and Future
The FRS network has a lot of plans for its future sustainability. Recently, the platform started its presale. The network is also continuously doing marketing programs to reach the entire crypto market.
The NFT marketplace, P2E game, staking, and farming services will launch in the future. However, in the long term of this network, they will launch the launchpad, blockchain, wallet, and exchange services.
If you are thinking about investing in this project, do thorough research. This ecosystem could bring benefits for investors in the long term.