Original - Odaily
Recently, the Solana Foundation announced the list of winning projects for the eighth Hackathon Hyperdrive, among which FluxBeam won the crown.
Summarize FluxBeam in one sentence: Design and develop Telegram Bot Fluxbot for the Solana ecosystem, provide more trading options for tokens on Solana, and open new traffic entrances for the Solana ecosystem.
Since this year, Telegram Bot is an emerging sector. Most Bots are built for the Ethereum ecosystem. Other ecosystems that are not compatible with EVM have basically not benefited from the fresh traffic brought by Telegram.
But the emergence of FluxBot has opened up new ways for Solana to trade tokens. Based on this move, it is not difficult to understand that FluxBeam won the Hackathon Championship.
Taking advantage of the popularity, FluxBeam immediately issued token FLUXB. However, after the sale, it suffered a short-term Waterloo. The buying prices of different investors differed greatly, causing FLUXB to fall back to the offering price for a time, and then rose again. Price fluctuations have also made some investors gain a lot, while others are still eager to get their money back.
Next, Odaily will start with FluxBeam’s project mechanism and combine it with FLUXB’s token economics to give you a brief introduction to FluxBeam.
FluxBot is no different from other bots except that it works for Solana
Fluxbot is a Telegram Bot based on the Solana ecosystem that can guide new users into the Solana ecosystem. Users can trade Solana-based tokens through Fluxbot.
Fluxbot allows users to trade, monitor and manage tokens on Solana, and create and manage limit orders on Telegram. Fluxbot also provides on-chain lending services, which users can access through Marginfi. At the same time, Fluxbot provides mirror trading options to follow target traders for trading.
In terms of token support, Fluxbot provides services through FluxBeam and token verification through RugCheck. Fluxbot has also developed a Solana token sniper and liquidity pool alert system.
Fluxbot currently supports 10 languages. Since its launch, Fluxbot officially disclosed that it has attracted more than 1,300 active users.
In summary, the highlight of Fluxbot is its support for the Solana ecosystem, but its functionality is not much different from other Telegram Bots.
FLUXB Token Economics
$FLUXB is a blockchain-based token with a total supply of 500 million. According to CoinMaketCap, the initial circulating supply is approximately 433 million. The current price is $0.037 and the FDV is $16.87 million. It is difficult to estimate the initial offering price. Since FluxBeam uses a robot buying method, the price fluctuated greatly during the initial period of the public issuance, with the highest hitting $0.098 and the lowest hitting $0.0018.
FLUXB token distribution details are as follows:
Public Sale: 80% of FLUXB is released immediately upon release without waiting for any lock-up period.
User Rewards: 0.5% of the supply will be released as user rewards each month for the next 24 months.
Reserve: 5% of FLUXB will be used as a reserve and will be released strategically as needed.
Pre-release user rewards, consultants and partners: 3% of FLUXB will be released based on performance to reward pre-release users, consultants and partners.
After FLUXB is released, Token 2022 standards will be adopted and a 3% tax will be charged on all buying and selling transactions. This portion of the tax will be distributed as follows:
50% is distributed to currency holders
25% is distributed to liquidity providers
25% goes to team and operating expenses.
It should be noted that users must hold at least 1000 $FLUXB to receive this allocation.
In addition, FLUXB has a special mechanism, the Fluxbot fee. In addition to token tax rewards, 40% of all fees collected by Fluxbot will be used to buy back FLUXB. This part of the repurchased FLUXB will be distributed to users holding at least 1000 $FLUXB. Users can not only earn income by holding FLUXB, but also earn additional income through Fluxbot’s subsequent handling fees.