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Summary of Flashstake
Key Points
- Flashstake protocol allows users to receive instant yield on deposited assets by locking up principal for a chosen duration.
- The protocol utilizes underlying protocols such as AAVE and Yearn to generate yield.
- fTokens are minted and sent to stakers, entitling them to a proportional claim on yield generated by the Flash Strategy.
Token Information
- Total supply: 150,000,000 FLASH tokens
- Circulating supply: 58,614,852
-
Token distribution:
- Community Airdrop: 18.66% (27,
About Flashstake: Empowering the Future of DeFi
Introducing Flashstake: Unlocking Instant, Upfront Yield with Unparalleled Efficiency
The Flashstake protocol constitutes a pioneering financial infrastructure, empowering users to reap instant yields on deposited assets by locking in principal for a predetermined duration. This innovative framework is made possible by Flash Strategies, which leverage underlying protocols such as AAVE and Yearn to generate yields.
Upon integrating with the Flashstake protocol, the staked tokens are instantly transferred to the Flash Strategy, which in turn deposits them into the underlying protocol (e.g., AAVE, Yearn), thereby initiating the yield-earning process. The Flash Protocol and Flash Strategy subsequently determine the optimal number of fTokens to be minted and allocated to the staker, based on the quantity and duration of the staked tokens. The resulting fTokens confer upon the holder a proportional entitlement to the yield generated by the Flash Strategy.
For instance, if the yield pool presently holds a balance of $1,000 USD and a staker possesses 100% of the fTokens allocated to that particular strategy, they would be entitled to burn their fTokens and redeem the entire $1,000 USD sum.
The Total Supply of FLASH Tokens in Circulation
The Flashstake protocol was successfully deployed to the mainnet on July 28, 2022, boasting a total supply of 150,000,000 tokens, which can be further divided into:
Community Airdrop – 18.66% allocated for immediate circulation, comprising 27,984,427 tokens.
The Blockzero Treasury Allocation comprises 15.17% of the total, with immediate vesting, although not immediately entering circulation. This allocation consists of 22,755,425 tokens.
Unlock the Power of Flashback Staking Rewards – 12.34% APY, vested and incrementally released over a 12-month tenure, totaling 18,504,723 Tokens.
The Flashstake Growth Budget allocation stands at 38.84%, with immediate vesting, although it will not be immediately circulated.
The Flashstake Team Budget has been allocated 15.00% of the total tokens, with a vesting period of 24 months to ensure ongoing support for the team. This allocation comprises 22,500,000 tokens, with 7,875,000 tokens having been released as of September 1, 2022.
The total circulating supply of this cryptocurrency stands at 58,614,852 units.
Meet the Visionary Team Behind Flashstake
Conceived and developed by the visionary team behind Flashstake, a project born out of Blockzero Labs. Blockzero, formerly known as XIO Network, was established in 2019 and has since evolved into a diverse, globally dispersed team, comprising strategists, protocol architects, engineers, developers, marketers, creatives, business developers, and community ambassadors, spanning over a dozen countries.
Where to Acquire FLASH and Access Additional Information?
FLASH is conveniently accessible on both Uniswap V2 and Uniswap V3 platforms.
For a more comprehensive understanding of Flashstake, please visit flashstake.io or refer to our exhaustive Flashstake Protocol documentation, which provides in-depth insights into the platform.
Tokens and NFTs: Unveiling FLASH, fTokens, and FlashNFTs
The FLASH token serves as the governing force behind the Flashstake protocol, empowering its decentralized ecosystem.
The fTokens * Flash protocol generates strategy-specific fTokens, an ERC-20 token,
upon the registration of a new strategy. These fTokens serve as a proportional
claim to the yield pool of the strategy they represent, ensuring that 100% of the
total fToken supply can be redeemed for 100% of the total yield accumulated within
a given strategy.
FlashNFTs offer a unique advantage, enabling the creation of a tradable representation of a user’s stake. Moreover, these digital assets can be minted at a later stage, provided the initial stake still retains available tokens.
Fortifying Protocol Integrity: Robust Security Measures and Rigorous Audits
The Flashstake smart contracts have undergone rigorous audits by esteemed entities, including Peckshield and Openkertify/Secure3, thereby bolstering confidence in their integrity. Furthermore, the protocol has been subjected to multiple successful community-driven testnets, providing an additional layer of assurance regarding its security.