FLX Token Distribution Amendment
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The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained in this document constitutes a solicitation, recommendation, endorsement, or offer by Open Oracle Association or any third party service provider to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.
Since the launch of Flux in December 2021, our team and contributors have aligned on one shared vision — to become the unilateral data layer for web3 .
Flux is currently live with price feeds on NEAR, Aurora, and Evmos and was inundated with growth, with total value secured soaring from $0 to over $3.58 Billion at its peak in just eight weeks. As part of this growth and long-term vision, our team and the Open Oracle Association’s 61 unique contributors have unveiled a long-term-oriented token-distribution amendment plan.
This token distribution amendment shows the community our vision for sustainable growth for blockchains’ foundational layer of data. With Flux Version Two, we are creating the backbone for Protocols, Dapps, and Layer ones and twos, to access secure, economically guaranteed data in a fully permissionless way. This vision is why our team and contributors focus on growing Flux over the next five years.
New Vesting Schedule
Below you can find an overview of supply entering circulation modeled out till 2027:
Founders
- Six months-lock → 14 months-lock
- 24 months-vesting → 36 months-vesting
Early Team
- Six months-lock → 12 months-lock
- 24 months-vesting → 36 months-vesting
Team
- Six months-lock → 10 months-lock
- 48 months-vesting → 48 months-vesting
Early Backers
- Six months-lock → 12 months-lock
- 24 months-vesting → 30 months-vesting
Early Contributors
- Six months-lock → 12 months-lock
- 18 months-vesting → 30 months-vesting
Strategic Contributors
- Four months-lock → 10 months-lock
- 18 months-vesting → 30 months-vesting
Distribution Overview
With the next iteration (or version) of Flux, we want to become the data layer for web3. The FLX token will be migrating to a new standard that will not be a capped supply but will have an inflation mechanism similar to EIP-1559. This design change means that protocols will burn FLX to access the network. Token holders, running validators, or staking will earn FLX through reward minting. This design will likely make the total supply of FLX deflationary over time. We will unveil more on the changes in structure over the coming months.
Full Distribution Table
In total Flux Protocol has raised +$22.47m in a mixture of backing from some of the top Venture Funds, Angels, and our Copper LBP.
Allocation Breakdown Visual
This article is also published on our governance forum for any future discussion.