Flexa network rewards are now live

Kicking off the initial reward distribution of 1 billion FXC and sharing updates to the Flexa Capacity dApp.

As of 3pm ET, the latest version of the Flexa Capacity dApp is live on mainnet. This update features support for Flexa network rewards and FXC withdrawals, and includes minor improvements to the dApp user interface.

We’ve been thoroughly testing this update on Rinkeby, and we couldn’t be prouder to finally hit this milestone in the long-term realization of the Flexa network. Read on for details about these new features and how you can start earning your share of the initial network reward distribution of 1 billion FXC.

Starting the clock on Flexa network rewards

To learn more about how to supply and allocate your Flexacoin in the Flexa Capacity dApp, take a look at our previous walkthrough or ask for support from the unofficial Flexacoin community on Telegram.

Enabling support for Capacity withdrawals

Starting today, you may withdraw any Flexacoin you have previously supplied, simply by de-allocating capacity and proceeding through the withdrawal process. At this time, however, Flexa Capacity does not support the withdrawal of earned network reward balances. While we work to establish a universal and globally consistent compliance framework for reward withdrawals, any FXC you deploy to Flexa Capacity will continue to earn network rewards commensurate with your allocation, and your rewards will continue to accumulate in the Flexa Capacity smart contract.

Supporting community-driven smart contract security

“We’re really excited to support Flexa by providing cover for their staking network,” shared Hugh Karp, the founder of Nexus Mutual. “What’s more, the Flexa community will be able to buy cover at reduced rates because Flexa is putting their own money behind the security of their smart contracts. This is a real life example of using token networks to align incentives.”

Today, anyone can take out cover for the Flexa Capacity smart contract on Nexus Mutual. Alternatively, to earn commission when others purchase cover on other smart contracts like Compound, dYdX, and Uniswap, you can purchase NXM tokens and become a risk assessor on Nexus Mutual yourself.

Continuing to push cryptocurrency payments forward

As always, we appreciate all of your support thus far! Don’t forget to follow us on Twitter or join us on Telegram for more updates as we continue building out our vision for instant, fraud-free, cryptocurrency-enabled payments.

Flexa offers the fastest, most fraud-proof payments network in the world. Learn more at flexa.network

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