Announcing $FLX Token and Mainnet Launch Details

Flux announces its LBP on Balancer on Dec 1st and Mainnet Launch details

Economically Securing Data Feeds

Oracles are the most important building blocks for decentralized applications that need information about the ‘real world’ to function. There is currently no cost-effective way to protect data inputted by data providers — the people who keep the blockchain running. The data market is complex, with many moving parts and pieces of data interacting in various ways. This complexity makes it nearly impossible to implement robust solutions without spending millions of dollars. With the rise in data manipulation, there is a real need for a utility token that will create incentives for users to be involved in curating data as well as penalize those who submit fraudulent data.

Community Curated and Governed

Any user can spin up a validator node on the mainnet with no minimum staking requirements to resolve data request outcomes created and curated by Request interfaces. These interfaces are elected by the community to execute data requests from users on the network and can only be elected after proposing to the DAO. The Flux DAO is responsible for approving the whitelisting of new protocols.

The Launch Event

Flux Protocol will launch NEAR mainnet on or before the 30st of November. This launch is intended to be decentralized from the start, requiring validators and request interface to have $FLX tokens in order to process and validate requests on the network. However, the decentralization of the launch mainnet is only as good as its token distribution model.

  • Auction Date: Dec 1st, 2021
  • $FLX Max Circulating Supply: 1,000,000,000
  • Starting Price per $FLX: $2.00
  • Ending Price with no Buy/Sell action: $0.1035
  • $FLX Initial LBP Supply: 15,000,000
  • $FLX Initial Weight: 95%
  • $FLX Final Weight: 50%
  • $USDC Initial Supply: $1,578,950
  • Hourly Rate: -0.006250
  • Duration: 72 hours

Modeling Potential Results

Since the free market will be deciding the value of the asset, it will be impossible to predict the final outcome. However, we can model the outcome of four potential scenarios for the event.

LBP Without Any Bull/Sell Orders

  • Amount Raised: $0
  • Amount Raised per hour: $0

LBP With a Low Raise

  • Amount Raised: $5M
  • Amount Raised per hour: $69.4K

LBP With a Medium Raise

  • Amount Raised: $15M
  • Amount Raised per hour: $208.3K

LBP With a High Raise

  • Amount Raised: $30M
  • Amount Raised per hour: $416.7K

FLA Prerequisite

The $FLX launch will take place on a frontend called Copper Launch. Copper Launch is an intuitive interface for Fair Launch distribution, allowing users to easily swap into the liquidity pool while providing information on the token distribution, price, and decay mechanism for due diligence.

  • An ERC20 wallet address that you own the mnemonic/private key to e.g Metamask
  • Some ETH for gas fee
  • USDC to participate in the FLA pool

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SEDA is a multichain, permissionless protocol connecting real world data to any network on-chain.

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SEDA

SEDA is a multichain, permissionless protocol connecting real world data to any network on-chain.