Fractal ID

Purpose and Utility

Fractal ID is a blockchain-based identity verification platform that aims to provide decentralized identity solutions. The FCL token serves as the native utility token for the Fractal Protocol, enabling users to pay for identity verification services and incentivizing validators who participate in the network.

Business Model

The platform's primary function is to provide KYC (Know Your Customer) and identity verification services for Web3 projects and traditional businesses. Users can verify their identity once and reuse their credentials across multiple platforms, while maintaining control over their personal data. The FCL token is used to pay for these services and reward network participants.

Real-World Adoption

Fractal has established partnerships with several blockchain projects and has been integrated into various platforms for identity verification purposes. The platform has processed identity verifications for millions of users, demonstrating actual utility and adoption.

Development Activity

The project maintains active development with regular updates to their protocol and infrastructure. Their GitHub repositories show consistent commits and improvements to the platform's functionality.

Token Distribution

The token distribution includes allocations for the team, advisors, and early investors with standard vesting periods. While there is a significant allocation to these groups, the vesting schedules appear reasonable and designed to align long-term incentives.