How are the funds/keys being handled?
1: Avax from NFT sales will be held in the Fractio smart contract until we call the withdraw function.
2: When we call the withdraw function from the smart contract, the Avax is then sent to the Fractio multisig Gnosis safe wallet (which requires 2/3 of safe owners to confirm outgoing transactions).
3: From here, the Avax is sent to our company KuCoin account (minus 15% initial fee) or bridged directly to Ethereum in order to swap for Strong tokens for nodes and Ethereum tokens to cover gas fees.
4: If we use KuCoin, we shall send tokens to our company Ethereum wallet (also a gnosis safe multisig proteced wallet) to purchase and secure nodes.
5: The entire process will be documented and ALL wallet addresses and smart contract addresses associated with Fractio will be shared with the community to ensure complete transparency.
How long will it be before we start receiving rewards?
We will continually compound rewards for the first 12 months in order to build our Strong empire of over 3000 nodes from an initial 200 (Approximately). After that 12 months, we shall hold a community snapshot vote to determine if we should continue to compound, switch to an automated reward structure or a mix of both.
How many owners does the multisig wallets include?
3, of which 2/3 are needed to confirm outgoing transactions.
Is the current plan to create Eth or Poly nodes? Or perhaps even FTM once available?
We will, as a community, decide on the split of nodes across chains, most likely a 50/50 split initially with Ethereum and Polygon nodes, then add Fantom nodes once available.
Will we accrue and stake Strong NFTs?
At this time, no, we will simply compound any rewards for more nodes for the first 12 months.
Where will the Strong nodes be housed?
The nodes will be secured via our Gnosis safe Ethereum wallet. 2/3 owners need to verify outgoing transactions.
Who owns that wallet? When you say the team is 2/3 doxxed, is that fully to the community or just KYC'ed to a 3rd Party?
2/3 of the team are doxxed to the public. The third member has doxxed to other members of the team for transparency. All 3 team members are owners of the various gnosis safe wallets and 2/3 members need to verify any outgoing transactions.
Are all wallet signatories part of the team? Any members of the investment community on the signature list?
Yes, all wallet signatories are part of the team.
If the project shuts down, what happens to the wallet(s) holding the Strong nodes?
In the event of Strongblock.io failing, the wallet becomes valueless. The project will not shut down unless Strong shuts down.
When can we reasonably expect a return on the investment?
The plan is to compound rewards for more nodes for the first year. The community can then decide on various options after that first year, whether to continue compounding, take rewards or a mix of both.
If 51% decide to forego profits after 12 months, is there an exit strategy for the others? Does 1 NFT count as a vote?
Yes, 1 NFT would count as 1 vote during a snapshot vote.
Is the team doxxed? What are the team backgrounds and experience in Crypto management?
2/3 of the team are doxxed. Please visit our about page here.
How are the team compensated?
15% of the initial mint fees, then 10% of all strong rewards going forward.