What is Flashstake and how does it provide instant, upfront yield?
The Flashstake protocol is a novel financial infrastructure that allows users to receive instant yield on deposited assets by locking up principal for a chosen duration. The protocol is made possible by Flash Strategies, which utilize underlying protocols such as AAVE, Yearn, etc. to generate yield.
Upon staking into the Flashstake protocol, the staked tokens are immediately sent to the Flash Strategy and deposited into the underlying protocol (eg. AAVE, Yearn) to start earning yield. The Flash Protocol and Flash Strategy determine the number of fTokens that should be minted and sent to the staker based on staked token quantity and duration. The resulting fTokens entitle the holder to a proportional claim on yield generated by the Flash Strategy.
For example, if the yield pool currently contains $1,000 USD and a staker holds 100% of fTokens for that strategy, he or she may burn their fTokens and redeem the entire $1,000 USD.
How Many FLASH tokens are there in circulation?
Flashstake protocol deployed to mainnet on July 28, 2022 with a total supply of 150,000,000. This total can be broken down into:
Community Airdrop - 18.66%, immediately in circulation.
- 27,984,427 Tokens
Blockzero Treasury Allocation - 15.17%, immediately vested but not immediately in circulation.
- 22,755,425 Tokens
Flashback Staking Rewards - 12.34%, vested and released over 12 months.
- 18,504,723 Tokens
Flashstake Growth Budget - 38.84%, immediately vested but not immediately in circulation.
Flashstake Team Budget - 15.00%, vested over 24 months for ongoing team support.
- 22,500,000 Tokens of which 7,875,000 have been released on 01.09.22
Total circulating supply: 58,614,852
Tokens and NFTs - FLASH, fTokens, and FlashNFTs
FLASH Token
- The purpose of the token is to govern the Flashstake protocol.
fTokens
- Flash protocol creates strategy-specific fTokens, an ERC-20 token, whenever a new strategy is registered.
- fTokens represent a proportional claim to the yield pool of the strategy they represent.
- 100% of the total fToken supply can be redeemed for 100% of the total yield accumulated within a given strategy.
FlashNFTs
- FlashNFT can be minted to allow for a tradable representation of a user’s stake.
- FlashNFTs can also be created after the initial stake if the stake still has remaining tokens available.
Who is the team behind Flashstake?
Flashstake was planned and built by the Flashstake project team from Blockzero Labs. Blockzero (formerly XIO Network) was formed in 2019 and has now expanded to a global team in more than a dozen countries, consisting of strategists, protocol designers, engineers, developers, marketers, creatives, business developers, and community champions.
Protocol Security and Audits
The Flashstake smart contracts have been audited by Peckshield and Openkertify/Secure3. Flashstake also underwent numerous successful community testnets to further ensure protocol security.
Where can I buy FLASH and find more info?
FLASH is available from Uniswap V2. It is also available in Uniswap V3.
More information about Flashstake can be found at flashstake.io and in our detailed Flashstake Protocol documentation.
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