The Voyage to FlowX Mainnet

Great news! Finally, the day we’ve been waiting for has arrived. 😊

In addition to preparing for the Sui x Kucoin Labs Hackathon in July, the FlowX team will reach a significant milestone by launching FlowX Finance on the mainnet after six months of research, development, and operation on the testnet. 🛫

To ensure a successful launch of FlowX Finance, we have organized various engaging activities designed to keep our team and users actively involved in the process.

Shortly after the launch, we will implement the GenesiX farming program, which aims to attract initial liquidity to FlowX Finance. This program serves as a way to recognize and reward the early supporters who placed their trust in the FlowX Finance protocol.

Alongside the rewards for Liquidity Providers, we will introduce the TradeX event — a Trading Competition and the LoyaX — Loyalty Program. These events will offer rewards to both traders and all FlowX users, further enhancing the engagement and benefits for our community.

Finally, in August, we have scheduled the public sale of $FLX tokens, following a pre-sale exclusively for early supporters and users.

Details of the timeline:

• 30th June: FlowX Finance officially launches the mainnet.
• 1st July: GenesiX Farming starts receiving deposits.
• 7th July: GenesiX Farming stops receiving deposits and starts distributing farming rewards.

Once farming rewards are available, participants of the GenesiX program will be offered a contract to claim their rewards. However, it is important to note that the rewards can only be claimed after the IDO in August.

• 10th July to 10th August: TradeX Event.
• In August: Public Sale $FLX.

GenesiX

4.5% of the $FLX total supply will serve as rewards for GenesiX farming, distributed evenly between FLX and xFLX tokens for users to claim (50% FLX and 50% xFLX).

GenesiX Farms will accept deposits starting from 1st July until 7th July . After this period, no further deposits will be accepted. Once the deposit function is closed, rewards will be calculated and distributed to participants.

The liquidity in GenesiX Farms will be locked for 90 days, and users cannot withdraw their funds until 4th October .

A vesting contract will be implemented for reward participants, with rewards vesting over a 3-month period from the start of GenesiX rewards distribution. However, users will only be able to claim their rewards after the completion of the IDO. This measure is taken to ensure a smooth initial liquidity pool formation for FLX and avoid any potential complications that may arise if users have access to FLX before the IDO.

FLX and xFLX

This is a crucial aspect of the tokenomics of FlowX Finance.

FLX is the native token of FlowX Finance, with a maximum supply of 10,000,000 $FLX. It served as a reward for activities within the FlowX Finance ecosystem.

Additionally, we introduce xFLX, the governance token of FlowX Finance, which can be obtained by converting FLX at a 1:1 conversion rate. Holders of xFLX have many benefits such as dividends and access to exclusive features. The quantity of xFLX held by users determines their voting rights, enabling them to participate in governance proposals.

FLX holders have the flexibility to convert their tokens into xFLX at their convenience. However, when converting xFLX back to FLX, there is a predetermined conversion period. Owners can choose between a short or long conversion time, with the latter allowing them to receive 100% of the FLX after a maximum period of 180 days. Opting for immediate conversion entitles users to receive 10% of the xFLX amount as FLX.

For more detail, check our document.

Wen IDO?

FlowX Finance has been self-funded for all development activities and launch rewards by its core development team. However, as a protocol intended for the community and ecosystem, we must create a governance token to distribute protocol benefits to the community and token holders as well as the core development team.

To ensure operational stability and showcase progress, we will initiate an IDO round once we have achieved the anticipated traction in August.

Moreover, the funds raised during the Public Sale will be dedicated to bolstering liquidity for the FLX token. The team remains steadfast in operating and developing the product without relying on community funding sources.

Conclusion

Recent events in the Sui ecosystem serve as a reminder of the significance of dedication and transparency in developing web3 protocols. Our team is wholeheartedly committed to ensuring the long-term success of FlowX Finance.💪

With our team’s expertise and unwavering commitment, FlowX Finance is ready to make a significant contribution to the growth of the Sui Blockchain ecosystem. 🚀

The darkness declares the glory of light - T.S. Eliot

Join FlowX Finance’s community today:

Website: https://flowx.finance/

Discord: https://bit.ly/flowx-discord

Twitter: https://twitter.com/FlowX_finance

Telegram: https://t.me/flowx_finance