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Frank NFT Bonds
Frank NFT Bonds (fNFT Bonds) act like perpetual bonds where the principle never gets payed back, yet investors receive perpetual rewards. This means that fNFT Bonds represent a fraction of ownership over revenue generated by the entire Farmer Frank protocol. Although fNFT Bonds are not redeemable for JOE, they are still "backed" by it. This means that the bond holder is entitled to claim the revenue generated by the assets backing such bond.
The backing starts 1:1, meaning that each Bond is backed by its cost in JOE. Then, as part of revenue gets reinvested within the protocol, the backing of each node increases proportionally. More on this in the Unweighted Shares & Weighted Shares pages.
fNFT Bonds come into 4 different levels. The more JOE you lock, the higher weight multiplier you will have.
fNFT Bonds are the main asset issued by Farmer Frank Protocol. These NFTs can be minted by locking JOE tokens into the Farmer Frank Treasury forever.
Level 4 fNFT Bond (JOE)
Bond level
Cost (JOE)
Weight multiplier
Unweighted Shares
Weighted Shares
XP
1
10
1.00x
10
10
1
2
100
1.05x
100
105
12
3
1000
1.10x
1000
1100
150
4
5000
1.15x
5000
5750
950
Weight multiplier will be used to calculate your weighted shares.
XP will be important in Phase 2.
fNFT Bonds can be sold on the secondary market, through marketplaces such as Tofu NFT.
There is a positive relationship between the value of an NFT and how long ago the NFT has been minted. The longer you hold a bond, the more value it will accrue. This means that on secondary marketplaces all bonds will be priced differently according to their underlying shares.
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