# Welcome, Frens! This is the Frog Frens whitepaper. Here you will find all the important information about the project. # Backstory ### ***LOG 2129 — IT’S OVER...*** The simple DNA of a frog fused with our own. It was meant to be humanity’s next big leap. Not this… whatever this is… Miles under the darkest corner of the city, one power outage was all it took. The frogs took hold of their degenerative hosts, spilling out of their spawn chambers. Spitting a new species into the sewers. > #### No longer human. No longer frog. An experiment that was meant to create new life, taking on a complete life of its own. They survived down there for a while. Navigating the dark. Exploring their new consciousness. But why lurk in the dark when you can live in the light? One-by-one, they leaked into the city. They got used to the rhythm. Found their own style. Got to grips with the local tongue. A few got jobs. Settled down. One’s a lifeguard. One works on the meat counter at Dino’s deli. They’re part of the place now, and it doesn’t look like they’re going anywhere fast. # The Team ## Founders Frog Frens is a team of 3 co-founders: * [0x\_Ribbit](https://twitter.com/0x_Ribbit) - Creative Director * [0xThorgrin](https://docs.frogfrens.co/whitepaper/welcome-frens/www.twitter.com/0xThorgrin) - Technical Director/Developer * [0xMajorFrog](https://docs.frogfrens.co/whitepaper/welcome-frens/www.twitter.com/0xMajorFrog) - Marketing Director/Contract Dev The team will grow just as the project grows. This means we will employ a Community Manager with a team, that has a proven background in managing other NFT projects. # Offical Links **Website:** **Discord:** **Twitter:** **Instagram:** # Frens NFTs Max supply will be 3,333. Token will use ERC-721 standard and EIP-2981 NFT royalties standard. Metadata and images will be hosted IPFS storage. ### IPFS Links **Metadata:** ipfs\://\ ***Images:*** ipfs\://\ While we would love to implement the likes of a naming or customisation service, this is not possible with IPFS. However, using IPFS ensures the all-important immutability & provenance that all NFTs require. # Mint Details ## Overview Minting will be available from the Frog Frens website [https://frogfrens.co](https://docs.frogfrens.co/whitepaper/frens-nfts/www.frogfrens.co) using our minting form on the day of minting. Please see [Minting FAQ](/whitepaper/website-faqs/minting-faq) for more details on the process. ## Mint Income Allocation The mint income will be allocated as follows: * **55% Community Farming** - This will be invested into High-Yield protocols and stored in the [Community Gnosis Safe](https://snowtrace.io/address/0xD18B4D25aB1266D86F17f8fD6F1b3110bA7765c1). \ See the [Rewards](/whitepaper/frens-utility/community-farming-treasury/rewards) page for examples of the investments. * **15% Team** - To cover the team's initial expenses as well as pay for a KYC provider (e.g RugDoc). * **15% Roadmap Development** - Fund the future development of the roadmap, operational costs, securing partnerships/marketing, and merchandise store. * **15% Giveaways and Prizes** - This will fund the project's giveaways, as well as reward the minters of our "Top Secret" NFTs in the collection. See [Mint Prizes](/whitepaper/frens-nfts/mint-prizes) for more details. ![](/files/VacdbQc2kFn1cekAuA4q) ## Whitelist A whitelist mint will provide a discounted mint compared to a public mint. We will have a total of 250 whitelist spots available. The first 100 spots will be rewarded to the first members of our Discord server via the "Frens OG" role. The remaining whitelist spots will be awarded to the community through a combination of giveaways and community engagement on social media and Discord. Based on your wallet eligibility you will be able to either mint during Whitelist or Public. ## Prices The following prices will apply to mint: **Whitelist Price:** 1 AVAX **Public Price:** 1.5 AVAX ## Dates/Times Frog Frens will mint on the following dates and times: ### Dates **Mint:** 8th April ### Times Whitelist minting will start at the following times: * 18:00 UTC * 14:00 EST * 11:00 PST * 02:00 HKT * 23:30 IST Public Mint will start at 20:00 UTC (2 hours after Whitelist) ## Limits The current limits will apply during minting: * Max of 5 mints per transaction * Max of 10 mints per wallet address # Rarity & Traits ## Rarity The frogs are part of the community now, but they’re all unique. Some blend in, some stand out. Some you’ll bump into every other day. Some you’ll see once in a blue moon. To keep track of them, we place every Fren on a 6-tier scale, depending on how rare they are: ### Tiers 1. Common 2. Uncommon 3. Rare 4. Hypebeast 5. Legendary 6. God ## Traits Frens will have 168 unique traits built up across 7 layers: ### Layers 1. Background 2. Skin 3. Mouth 4. Hat 5. Eyes 6. Clothes 7. Accessories We will release more details about each trait rarity percentage at a later date. # Mint Prizes Within the collection, there will be a number of special NFTs that will reward the lucky minters with a large one-time AVAX prize. More details on this to be announced pre-mint. These prizes will be sent to the wallets automatically post mint. # Frens Utility Holding a $FREN provides a very lucrative passive income/utility. You will find all the relevant details on this in this section of the whitepaper. # Distributed Royalties The contract will be set to take 3% royalties of all secondary sales, as per the community vote result. These royalties will be sent to the Community Rewards contract. This contract will be configured to distribute the royalties as follows: * **Community:** 100% * **Team:** 0% The rewards will be evenly distributed between all 3,333 NFTs. Holders will be able to claim their share of the rewards via the "[My Frens](https://frogfrens.co/my-frens/)" page on our webiste anytime they choose. All rewards will be paid in Wrapped AVAX (WAVAX). # Community Farming Treasury Frog Frens will be investing the treasury into high-yield protocols. For more details on these see the following pages: {% content-ref url="/pages/6vKwdLYTSdhGxKtpfXEU" %} [Investments](/whitepaper/frens-utility/community-farming-treasury/investments) {% endcontent-ref %} {% content-ref url="/pages/2pE7m74kCiZYBr9gHTA9" %} [Rewards](/whitepaper/frens-utility/community-farming-treasury/rewards) {% endcontent-ref %} # Investments ## Community Gnosis Safe Post mint, the treasury will be established into the [Community Gnosis Safe](https://snowtrace.io/address/0xD18B4D25aB1266D86F17f8fD6F1b3110bA7765c1) and investments will be decided by the holders of the NFTs using votes. ## Investment Protocols Investments will be spread across various platforms/protocols to both reduce centralised risk and investment volatility. Examples are as follows: * Auto compounding protocols, such as [beefy.finance](https://docs.frogfrens.co/whitepaper/frens-utility/community-farming-treasury/www.beefy.finance) or [yieldyak](https://yieldyak.com/farms) that use either LP (Liquidity Pool) tokens or SSS (Single-Side Staking) and automatically compound at various intervals to achieve the best APRs for its investors. * Bluechip AVAX staking platforms like [Trader Joe](https://traderjoexyz.com/), [Pangolin](https://pangolin.exchange/), [Platypus](https://platypus.finance/) etc. * Startup projects that are high-risk/high-rewards. However, they must meet some key criteria for us to invest, such as: * Locked Liquidity * Trusted or KYC/Doxx'ed Team ## Investment Types Frog Frens will invest using a blended fund method of high, medium & low-risk to ensure longevity & sustainability of the treasury. The investment distribution will be as follows: * #### 50% - Low-Risk Stablecoins (UST, USDT, MIM etc). This is key in protecting the treasury from extreme volatility in the markets. * #### 40% - Medium-Risk Bluechip Avalanche Projects (TraderJoe, Platypus, etc). * #### 10% - High-Risk Degen projects. *Disclaimer: these ratios are not fixed and will be subject to change based on macroeconomics.* ## Possible Strategies One possible investment strategy (example only): 1. Stake $JOE for $sJOE to earn 100%+ APR in $USDC rewards on Trader Joes. 2. Stake $PTP to earn $vePTP to earn 100%+ APR on stablecoins on Platypus. 3. Stake stablecoins in Platypus with boosted APRs to get 60+% APR. # Rewards Monthly rewards from the treasury will be distributed using the following allocations: * **80% Community** – Will be distributed between all $FREN holders and claimable anytime via the website. * **10% Compound** – This allows the treasury to grow over time, making the treasury more profitable. * **10% Team** – To allow the team to inevitably keep the lights on. This also ensures the team has a vested interest in the success and the management of the treasury. ![](/files/9zMqOPpBHkszA4mWfpDa) The weekly community rewards will be converted into Wrapped AVAX (WAVAX) and sent into the Community Rewards contract which will then automatically be distributed to all $FREN holders to claim at any time. # SPAWN Token Below is the first draft for $SPAWN tokenomics. Both $SPAWN & Staking contract will launch post-mint to ensure the Dev Team has the sufficient time required to properly focus and test this feature thoroughly, as to ensure the most value to our community. ## Token [$SPAWN](https://snowtrace.io/token/0x52628F8Ea702c51C19B43897D67e4b2845a71B08) is an ERC-20 token with a max supply of 500,000,000. The supply is hard-capped and there is no ability to mint/increase the supply in the contract. ## Burn/Fees $SPAWN is a deflationary token by design, as a result, it will apply the following fees during each transaction: * **10% Burn** - Will go to [0x000000000000000000000000000000000000dead](https://snowtrace.io/address/0x000000000000000000000000000000000000dead). * **5% Transaction** - Will go to the [Community Gnosis Safe](https://snowtrace.io/address/0xd18b4d25ab1266d86f17f8fd6f1b3110ba7765c1) to be used at a later date. ## Staking Emissions The tokenomics of $SPAWN are set to pay inflation to the staking class. This inflation occurs at a rate of 48 $SPAWN per day (2 per hour) for each NFT staked. The emissions will continue for a minimum of 3.8 years (if every NFT was staked 100% of the time), so it will likely last a lot longer than this. At this point, $SPAWN becomes a truly deflationary token. ## Supply Distribution We will distribute $SPAWN as follows: * **75% NFT Staking Rewards -** This will reside in the Staking contract and be used to pay the staking emissions as per [Staking Emissions](#staking-emission). * **20% Liquidity Reserves -** If the community decides that they would like to give a monetary value to $SPAWN and trade their earned tokens. This allocation will then be used to create the initial SPAWN/AVAX Liquidity Pool (LP). The AVAX to create this LP would come from the treasury and would be time-locked accordingly with a relevant provider. * **5% Team** - Team allocation. ## Token Utility $SPAWN utility is as follows: * **Breeding** - Ability to burn $SPAWN in return for an NFT from future collections, which in turn reduces the circulating supply of $SPAWN. * **Trading** - If a Liquidity Pool is created, then users will be able to buy/sell tokens on Trader Joe for monetary value. * **Merch Store Discount** - $SPAWN can be burned in return for a discount in the store. * **Exclusive Access** - Holders of more than (?) $SPAWN will gain access to exclusive Discord channels. * **Raffles** - $SPAWN can be exchanged for raffle tickets which will give holders a chance to win some amazing prizes. More tickets you have, the higher chance of winning! # Bespoke Frens We will be giving away a chance for up to 10 $FREN holders to win a completely **bespoke** Fren, from our talented illustrator. # Bonfire (Burn-to-Print) We will be holding quarterly events enabling $FREN holders to burn their $FREN in exchange for a physically signed art print, creating **deflationary** supply on the collection. # Merch Store Digital art is not always best appreciated from behind a screen, this is why we want to launch a Merchandise Store for our $FREN holders. Profits from the store purchases will go to the Community Rewards contract and be automatically distributed evenly between all $FREN holders. # Website FAQ's # Minting FAQ Guide to help users successfully mint TBC # My Frens Page FAQ Guide to demonstrate the features of the the My Frens page TBC