The decentralized application The Frac is released, and the ownership of NFT can be distributed in proportion through AMM

Mick de Graaf released the decentralized application The Frac, which was born in the ETHGlobal hackathon. By introducing a new DeFi primitive, a NFT can be proportionally tokenized for ownership processing, that is, The Frac can convert NFT assets The proportional share in the auction proceeds is tokenized. The Frac ecosystem has a variety of roles, namely NFT sellers, NFT partial share buyers (mainly the system makes speculative profits through partial purchases), NFT buyers and Keeper. By using Balancer Labs to distribute these tokens, users only need a DAI of 2% of the NFT value to start a capital pool. The weight of the fund pool was initially 2% DAI and 98% other tokens, and then gradually transitioned to the opposite, that is, 2% other tokens and 98% DAI. NFT uses British auctions for liquidation. After the auction was completed, Keeper was incentivized to demand income from some NFT shareholders. The Frac runs on Rinkeby as a proof of concept.