Medifakt Token (FAKT)

The FAKT token is the native currency of the Medifakt blockchain and platform, just like ETH on Ethereum.

FAKT utility:

• Transaction fees Being the native currency on the Medifakt blockchain, FAKT is required to pay fees to the network in order to approve transactions.

• Validation Token holders can stake Medifakt to become a validator. The minimal staking requirement is 100K. The network is growing, currently there are 60 validators. (https://status.medifakt.network/)

• Voting Validators vote on protocol changes with their staked FAKT. Which means validators with higher amounts of Medifakt staked can have a bigger vote on network upgrades and governance changes (until phase 2 where delegation is activated)

• Staking (for delegators) Any FAKT holder can choose one or more validators to delegate any amount of FAKT they wish. They receive a share of the Medifakt block rewards proportionate to the share of their stake in the total stake, minus the minimum 15% fee paid to the validator(s).

• Payments As FAKT is the native currency on Medifakt, sending it does not require interactions with smart contracts. Thus, FAKT transfers are potentially faster and less costly in terms of transaction fees.

IMPORTANT: Merely possessing any amount of FAKT tokens does not endow holders with any rights to participate in the governance of the Medifakt platform or any revenue streams related to its real-world performance.

Obtaining FAKT

Where to Buy

FAKT is available for purchase on a number of centralized (CEX) and decentralized DEX exchanges.

Centralized exchanges: Gate.io, Huobi Global, MEXC Global, AscendEX, Bimart, Bittrex Global

DEXes: Uniswap V2 and V3 (Ethereum), PancakeSwap (Binance Smart Chain), Quickswap (Polygon), Voltage DEX (Medifakt), Sushiswap (Medifakt), 1inch (Ethereum), KyberSwap (Ethereum), Loopring (Ethereum).

The best information about the FAKT trading volumes and prices on various exchanges can be found on the Coingecko "Markets" page for the token.

A convenient current way of purchasing FAKT straight from one's bank account is through using the Medifakt Cash wallet to deposit Medifakt Dollars, and then swapping those to FAKT via the in-app integration with Voltage DEX.

Where to Farm

At the moment, the FAKT token is sometimes used by the project team to power liquidity rewards (yield farming) programs to boost liquidity on DEXes and the participation in the Medifakt Lending Network.

The ongoing liquidity rewards programs on DEXes can be discovered here.

Other ways of obtaining FAKT

From time to time, the Medifakt team uses FAKT to pay rewards to the members of the community for various forms of participation and community engagement. The best way to stay up-to-date about these opportunities is to follow Medifakt's social channels.

The FAKT token is also used to power Medifakt grants and bounties. Please consult the Grants and Bounties section for more details.

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