Friction Finance is a community-owned project created and developed by a group of passionate developers. All of the code is open-sourced and available on Github for contributions. The core aspect and development of Friction Finance was complete at launch and is now up to the community to help expand the project.
No. Friction Finance had no pre-sale or ICO and raised no outside capital in any form. The initial liquidity was provided on a decentralized AMM for anyone to purchase.
At launch, no tokens were allocated for the team. There is a 7% LOCKED ecosystem grant fund for dApp developers to build apps that include xTAO's reflective functions in it. This 7% fund is not for the team members and the community will determine where these funds are spent.