All about $FLX, $xFLX & FlowX Finance Vesting!
1/ BENEFITS OF BUYING $FLX ON SPORES LAUNCHPAD IDO:
FlowX has 2 sales phases: Pre-sale and Public Sale. The IDO sale on the Spores Launchpad is considered the Pre-sale Round of FlowX. As a result, users can purchase at a lower price compared to the Public Sale Round on FlowX.
1/ $FLX IDO Round (Pre-sale) on Spores Network: https://launchpad.spores.app/ido/flowx-ido
✅ Price: $0.35
✅ Time: 3 PM UTC, Nov 23rd => 8 AM UTC, Nov 24th
✅ Refund Policy: 24-Hour Optional
✅ Vesting: 100% TGE: 35% in FLX & 65% in xFLX
✅ Listing date: 30th Nov
✅ DEX: FlowX Finance (Top 4 TVL on Sui Ecosystem & backed by Sui foundation)
2/ $FLX Public Sale on FlowX Finance: https://flowx.finance/launchpax/public-sale?key=spores
✅ Price: $0.5 — $1
✅ Time: 28 Nov 2023 07:00 UTC — 30 Nov 2023 08:00 UTC
✅ Model: Fair Launch
✅ Price discovery system:
- Price discovery is a commonly used launch model for new projects. It enables the evaluation of the fair price between the token supply during a public sale and the demand from buyers participating in this round.
- Price range: $0.5 — $1.0
- TGE: 100% — 50% in $FLX & 50% in $xFLX
So actually, joining $FLX IDO (Pre-sale) on Spores already comes with an advantage of a much lower price. Additionally, it’s worth noting that the Public Sale on FlowX features a price discovery system, meaning the more total deposits, the higher the price of $FLX.
2/ IDO & CLAIMING INSTRUCTION:
✅ Prepare USDT/USDC & BNB for gas fee to join $FLX IDO at https://launchpad.spores.app/ido/flowx-ido
✅ Claim your tokens at FlowX portal: https://flowx.finance/presale/spores
✅ Vesting: 100% TGE. You will receive 35% in $FLX and 65% in $xFLX at TGE
✅ $FLX can be traded immediately at TGE on https://flowx.finance/swap
✅ $xFLX can be converted directly into $FLX at TGE on https://flowx.finance/convert
*Note: There are 2 ways to convert $FLX to $xFLX:
- Convert xFLX to FLX through the conversion mechanism. The conversion rate is always guaranteed according to the information provided here: docs.flowx.finance/tokenomics/xflx-governance-token#conversion-mechanism
- Swap xFLX to FLX at a floating rate at TGE time. However, FlowX team will initiate a swap pool with a fixed rate of 1:1.
3/ $FLX & $xFLX CONVERSION MECHANISM:
FLOWX FINANCE LEARNED FROM HIGH-PERFORMANCE PROTOCOLS, ADAPTED, AND THEN CREATED THE FLX & XFLX SYSTEM.
FLX, as a pass to access utilities for FlowX Finance holders, provides simplicity & convenience for holders.
However, this also brings liquidity risks to the token because there are no constraints or separate rights for long-term investors compared to short-term speculators.
Therefore, to address this concern, FlowX separated the FlowX Finance token system into 2 tokens: FLX and xFLX.
- FLX will be the token used for trading and speculation.
- xFLX will be the governance token with utilities such as Boost Yield for LP, voting for reward allocation, or lending voting power to earn yield from Bribe, or staking to receive dividends from the protocol. Therefore, xFLX will be an investment asset with the potential to generate real yield.
For this reason, trading xFLX will be much more restricted compared to the FLX token, to ensure that individuals who own xFLX have a commitment to participating in the project rather than just speculating.
CONVERSION MECHANISM:
You can convert FLX — xFLX back and forth through the Convert Room of FlowX Finance.
FLX ➡️ xFLX: You can always convert FLX to xFLX at a ratio of 1:1.
xFLX ➡️ FLX: You can choose a conversion time & ratio❗️
📍 Formula:
📍 Example: You have 1000 xFLX and you want to convert from xFLX to FLX. The conversion time & ratio will be calculated as in table below:
The longer the conversion time is, the greater the amount of FLX you receive.
The rest of xFLX remain (when choosing conversion time < 90 days) will be burned.
*Note: The xFLX token serves as the vesting token for FLX. Although FlowX has created a function to convert xFLX to FLX over time, this ratio is not fixed. For instance, if a user has 100 xFLX and converts them immediately using FlowX’s conversion function, they would receive only 10 FLX. However, in reality, there may be individuals in the market willing to exchange 30 FLX for 100 xFLX (because using FlowX’s conversion would give them only 30 xFLX). Thus, when deployed in the actual market, even for immediate conversions, the xFLX:FLX exchange rate could be higher than 10:1.
This rate will be determined by the market based on the number of individuals willing to take the risk of converting from FLX to xFLX to receive more FLX in the future and the number of people looking to quickly cash out from xFLX to FLX.
Normally it might be confused that Spores IDO participants can only cash out 41.5% of the purchased FLX, the actual figure may be higher.
👌 Also: You might understand the relationship between FLX, xFLX and bonding curves when they are the prominent use cases of bonding curves.
FLX: FLX serves as the reserve currency for the bonding curve. Users can trade FLX, stake it for rewards, or participate in governance.
xFLX: xFLX is created by depositing FLX into the bonding curve’s smart contract. The bonding curve mathematically determines how many xFLX tokens a user receives based on the current price set by the curve. This ensures that the price of xFLX remains connected to the FLX reserve.
Bonding Curve Interplay: The bonding curve for xFLX provides an automated mechanism for converting FLX into xFLX and vice versa. As users deposit FLX into the curve, they receive xFLX at the current price, and when they redeem xFLX, they receive FLX according to the curve’s price. This process connects the two tokens and ensures that xFLX’s value is anchored to FLX.
👌 In addition: Using alignment curves for FLX, xFLX will bring many benefits not only to the FLX team but also to all users, traders, investors.
Price Stability: The bonding curve mechanism helps stabilize the price of xFLX in relation to FLX, reducing extreme price volatility.
Liquidity Provision: Users can provide liquidity by depositing FLX into the bonding curve, earning xFLX tokens as rewards. This incentivizes liquidity provision and participation in the ecosystem.
Governance: FLX holders may have governance rights within the ecosystem, allowing them to participate in decision-making processes.
Speculation & Leverage: Traders can speculate on price movements or leverage their FLX holdings by converting them into xFLX, potentially amplifying returns.
Conclusion: As decentralized finance continues its rapid evolution, bonding curves stand at the forefront, enabling innovative token ecosystems like FLX and xFLX. These mathematical constructs offer new opportunities for investors, developers, and DeFi enthusiasts, allowing them to explore a world of price stability, liquidity provision, and versatile financial strategies.
*FlowX Finance is under Spores Network’s 24-Hour Optional Refund Policy.
FlowX Finance Official Link:
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