$FLAC Liquidity/Tokenomics update
Hello Flacers! The Flac Finance public sale was concluded on 31st Jan and the token airdrop has been completed to all participants of the public sale, ISPO, and seed sale. We are thankful for all the support from the Flac community helping us achieve this milestone.
Based on the stats of the token distribution, we had to update the tokenomics to properly allocate the remaining token supply from the earlier planned ISPO/Seed/Public sale allocation. The changes are done so as to protect the token holders' interest and the growth of the Flac Finance platform.
The current token distribution
Below are the stats of the ISPO, Seed, and Public Sale token distribution.
Total Supply — 2,000,000,000
- Seed Sale — 2%
- ISPO — 0.3%
- Public Sale — 0.2%
The unallocated tokens are reallocated as per the chart below,
Updated Tokenomics
- Treasury has been increased from 20% to 32.5%
Treasury will be utilised as per the voting by the $FLAC token holders to drive the development of the platform.
2. Liquidity and Rewards
We are allocating 20% of the supply to add liquidity on dexes and create yield farms. The supply will be used gradually over the next 5 years.
3. Private Sale
We are reserving a supply of 5% for a potential private sale to raise funds if required in future. The investment will be through a vesting contract of 30 months, and we will update the community on such investments when happens.
4. Marketing and Promotion
We are allocating 10% of the supply for expenditure on marketing and in-app promotions such as referrals, bonuses, and promotional rewards.
5. The ISPO/Seed/Public sale
This allocation remains as per the currently distributed amount and as in the chart.
The whitepaper has been updated with the new tokenomics and the updated token release schedule.
Liquidity on Minswap
From the liquidity allocation, we have currently supplied 680,000 $FLAC tokens as liquidity on Minswap. We are working towards setting up a farm on Minswap so the existing token holders can supply liquidity and get the yield farming benefits. Details will be announced once live.
What’s Next?
The token distribution was an important milestone on the Flac platform development roadmap, we are excited to have it achieved with great support from the community. While we continue to build the platform, the V2 testnet mobile app is right on the horizon with all the improvements from testnet v1 feedback and great new features. The V2 testnet app tentatively will be available during mid-march’23.
We are also working on the testnet v1 testers rewards and should airdrop them to the testers towards the end of February’23.
Until next time, stay calm, and stack $FLAC. Let's build the Flac Finance platform together. Thank you!
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