Question 1

What is Frictionless (FRIC)?

Accepted Answer

Frictionless is a platform designed to facilitate the secure and efficient transfer of cryptocurrency through smart contracts, operating in a decentralised and trustless manner. It aims to empower projects and investors by mitigating the negative impacts on asset market prices that are often associated with liquidation processes. The platform utilises blockchain technology to offer solutions for prevalent issues in decentralised finance (DeFi), including liquidity constraints, market impact, and the reliability of investments. Frictionless is committed to transforming the DeFi trading landscape by promoting community engagement and evolving into a comprehensive decentralised peer-to-peer (P2P) exchange​​.

Question 2

What is Frictionless (FRIC) used for?

Accepted Answer

The FRIC token is integral to the Frictionless platform, enabling access to services and securing on-chain cryptocurrency transfers. It supports non-custodial, trustless asset swaps and provides access to markets for projects and investors after a token launch. The token's value is linked to the platform's traffic and its utility on the blockchain, which increases with a larger stake in the token. Revenue is generated from transaction taxes and fees, which are used to fund operations and reward token holders. Holding more FRIC tokens unlocks additional benefits and features, aiming to eliminate negative effects on asset prices by avoiding market liquidation and offering decentralised custom vesting solutions to stabilise asset prices and protect investors​​.

Question 3

Who created Frictionless (FRIC)?

Accepted Answer

Frictionless was founded by Milan Jandik, who serves as the CEO.

***Although 'FRIC' was the ticker assigned at the deployment of the Frictionless Token's smart contract, it is already in use by another asset that has a larger market presence and higher trading volume on major exchanges. Due to this pre-existing association and to avoid confusion in the marketplace, the alternative ticker 'FRICTION' has been adopted for this token. This designation is specifically used to ensure that assets are distinctly identified.***