🌊 GM Flowverse Citizens! Welcome Matrix Market to the Flowverse!! They’re building a cool new Flow NFT marketplace with detailed statistics and the ability to launch your own NFT collection 🔥
If you have an idea for a product/tool not on Flow yet, feel free to comment it here
Upcoming Flow ecosystem events 📅
XG Studios AMA (6th July in Flowverse Discord)
Moxy AMA (7th July in Flowverse Discord)
💸 Newsletter Sponsors
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IncrementFi: IncrementFi is bringing DeFi to the Flow Blockchain through their One-stop Platform. Deposit, Earn, Borrow, and Swap - Explore More Yield and Liquidity Opportunities for Fungible Tokens on Flow. Click HERE to learn more.
Cuvée Collective: Libation Labs is bringing NFTs to the wine industry through their first project: Cuvée Collective. NFT holders will have access to exclusive benefits through winery partners starting in Napa Valley. Click HERE to learn more.
💡Flow Blockchain News
IncrementFi raised $1m to build a one-stop shop for DeFi on Flow
Solitaire Blitz was in the top 15 weekly blockchain games
Hype.day added collab functionality so people can join NFT whitelists based on owning other Flow NFTs
UFC Strike are celebrating UFC 276 with free “The Last Stylebender” NFTs
Metapier published their DeFi vision on Flow
Matrix World launched their new Flow NFT marketplace in beta
The Concession Stand minted 567,566 NFT NYC FLOATs
Flunks released information about their backpacks
FEWOCiOUS is coming to Flow via a collaboration with Billboard Chart Stars
Emerald bot now supports automatic role removal for specific projects, starting with the Flowverse Socks NFT and UFC Strike
Zigazoo raised $17m in their Series A round
🆕 New to the Flowverse
Flownia: The host of Matrix Market is a virtual idol who will represent the project and be of service to the community
Gaia Founders NFT: Rewarding Gaia supporters as we build the future
Masters of MMA: A next-gen sports management game for MMA fans, compatible with UFC Strike
FlowFansChina: The Flow Chinese Community
🔬 Article: $FLOW token economy
The $FLOW tokenomics were discussed during the last Flow office hours. Here is a summary of the discussion.
$FLOW token governance
Every $FLOW token holder can now participate in governing the Flow Blockchain through FLIPs (FLOW Improvement Process)
FLIP is a process where all the major changes to the Flow Blockchain can be published, discussed by the community at an application, protocol or governance level change
Find FLIPS here: https://forum.onflow.org/c/governance/
Reward rates
Staking rewards are how the Flow network pays trusted node operators for security
A governance proposal (the first FLIP-GOV) was submitted by the Flow Foundation to keep rewards at 5% as due to the current economy downturn, it is not desirable to reduce the rewards rate
No plans to burn the Flow token ($FLOW)
The team also stated that there will be sessions to brainstorm ideas for the extra use cases of $FLOW and that there were no plans to burn the token but if the community felt strongly about this, then this is the kind of topic that could go through a governance FLIP
DeFi on Flow
The team stated that DeFi on Flow will not resemble to what has been done in the past, it will be built to address real needs and good yields will be supported by real demand
List of DeFi apps on Flow: https://www.flowverse.co/categories/defi
Flow Liquidity Vaults (FLVs)
When dApps launch a token, they want it to be listed on DEXs e.g. Blocto Swap, IncrementFi
This requires them to provide:
Their own token
A counter asset that is ideally already liquid on the DEX e.g. $FLOW
However, dApps don’t have large amounts of $FLOW in their wallet and it is not an option for dApps to lend their tokens and borrow $FLOW on IncrementFi because their token isn't trading yet
Here comes in FLVs, where dApps can bring their own token and lenders can deposit $FLOW in this liquidity vault, which spins up a DEX made up of the dApp’s token e.g. $TKN and $FLOW
Lender of $FLOW benefits:
Receive interest (paid in $TKN)
Gain exposure to any new token launching on Flow passively
High yield opportunities but comes with risks
Properties of FLVs
Limited in time: The longer the borrowing of $FLOW, the higher the APY
Limited in size: dApps don’t need large amounts of $FLOW to spin up a liquidity pool (usually $0.5-1m worth of $FLOW is enough to have good slippage)
Lender and dApp share the impermanent loss
Summary of FLVs
Cement $FLOW as the defacto counter asset on DEXs, taking the $FLOW token away from the circulating supply as more tokens launch on Flow
dApps on FLOW can now source $FLOW to spin up liquidity pools in a systematic and transparent way
$FLOW holders gain exposure to new fungible tokens launched on Flow + become a lender and gain a yield (with risks)
FLVs are close to testnet and an independent team from Vietnam is building it and the MVP will be shipped in late July
If you’re interested in learning more about these topics that were outlined above, please watch the latest Flow Office Hours.
🔥 Featured: Barter Yard Club on Gaia
🐺 Barter Yard Club (BYC) is arriving on Gaia marketplace with the Dapper wallet on 07/05 at 3 PM UTC!
More about BYC: BYC is an NFT Toolbox DAO co-owned by the werewolves. They are building the next generation of internet tools.
🎁 Airdrop: To celebrate this big news Barter Yard Club is running an airdrop of 15 Werewolves NFTs
👀 Instructions: To participate you only need to activate the Barter Yard Club NFTs collection by clicking on this link (https://app.barteryard.club/dapper-contest), connecting your Dapper wallet and activate the Barter Yard Club collection to be able to receive one of the 15 free Werewolves!
⚡Upcoming Flow NFT drops
🏀 WNBA BASE SET, RELEASE 2 (NBA Top Shot, Jul 7)
🎵 Federation 'F' (RCRDSHP, Jul 8)
💼 Flow Ecosystem Jobs
Are you sick of your boring web1, or web2 job?
View and apply to 200+ Flow Blockchain ecosystem roles from 20+ companies here!
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