What is FreeBnk?

WhiteBIT
Published 04 June 2024
145
What is FreeBnk?

Content

FreeBnk (FRBK) positions itself as a versatile financial platform for various crypto and fiat transactions. It offers omnichain liquidity with zero gas fees, allowing users to seamlessly swap cryptocurrencies across different chains. Users can invest in real-world assets like property and gold, benefit from competitive lending rates, and use virtual cards to spend crypto globally. According to the project, FreeBnk ensures high security with substantial insurance coverage for cyberattacks and provides an inheritance plan for user assets. For more details, visit their website at FreeBnk.

FreeBnk Products

  • FreeBnk Crypto enables users to conduct crypto transactions across multiple blockchains without incurring gas fees, promoting efficient and economical swaps. Its intuitive user interface allows users to experience a smooth trading process. Thanks to worldwide access, users can trade across 150 countries using various methods, including cash, cards, and bank transfers for onboarding and offloading funds. Furthermore, it offers the best exchange rates sourced from over 35 decentralized and centralized aggregators and liquidity providers.
  • FreeBnk Transfer is designed for cost-effective and swift international money transfers, while blockchain technology minimizes fees and processing times.
  • FreeBnk Pay is a low-transaction-fee payment solution suitable for businesses and individuals who want to use crypto for everyday purchases.
  • FreeBnk RealWorld allows investors to invest in tangible assets like real estate and precious metals, bridging traditional asset markets and the crypto economy.
  • FreeBnk Lending offers competitive rates on crypto-backed loans for those needing liquidity without selling their digital assets.
  • FreeBnk Safe focuses on security and legacy planning, featuring crypto inheritance solutions and insurance coverage for digital assets against cyber threats.

FreeBnk Revenue Model

FreeBnk enhances ecosystem growth, drives innovation, and elevates the user experience through a robust revenue model composed of multiple streams:

  • Buy-and-Swap and Bridge: Users who buy or swap digital assets on the FreeBnk platform pay a low commission fee for buy-and-swap and bridge transactions.
  • Lending: Participants in the Affordable Crypto Loans Program and those utilizing crypto lending and investments in real-world asset (RWA) stocks and bonds are charged quite low fees. The specific rate depends on the chosen product or the yield of the investment pool.
  • FreeBnk Pay and FreeBnk Bolt: These services maintain a commission rate of up to 0.50%.
  • Monthly Membership: FreeBnk offers a tiered monthly membership program with improved swap fees, enhanced portfolio insurance, and increased yields. Membership fees may vary.
  • Digital Inheritance Services: FreeBnk provides digital inheritance services, for which customers are charged a one-time fee.

Tokenomics and FRBK Token

The FreeBnk Token (FRBK) is a pivotal component of the FreeBnk ecosystem, designed to enhance users’ financial experiences worldwide. FRBK serves multiple critical functions, primarily facilitating seamless international payments and enabling swift, economical transactions via FreeBnk Pay.

Additionally, the token is crucial in advancing FreeBnk’s aggregator protocol and promoting its ethical banking services. The total supply of FRBK is capped at 500 million tokens, ensuring no additional tokens will be minted beyond this limit.

Real World Assets (RWA) Offer on FreeBnk

Real World Assets (RWA) on the FreeBnk platform refers to the tokenization and fractional ownership of tangible assets, primarily real estate. This innovative approach allows individuals to invest in properties by purchasing fractional shares, thus making investment opportunities more accessible and affordable. Through digital tokens, investors can own parts of real estate properties managed by FreeBnk, easing the typical burdens of property management and offering a passive income stream.

The platform simplifies investment by enabling users to easily search and buy shares in global properties through secure smart contracts. Investors benefit from rental incomes and the potential appreciation of their shares, which they can sell on FreeBnk’s secondary market whenever they choose​​.

This democratization of investment through RWA aims to lower the traditional barriers to real estate investing, allowing more people to build wealth and generate passive income from real estate without high minimum investments or complex fees​.