Byebye $FLUX, welcome $ZO
$FLUX was utilized as incentive for Flux Protocol’s liquidity providers, and for the governance of Flux Protocol. Besides, it was also the connector for ZeroOne’s ecosystem products. The max supply of $FLUX was capped at 21 million, and it was minted as an ERC-20 token, which was fair-launched through liquidity mining to everyone, without VC, private sales, and pre-mine.
As ZeroOne’s ecosystem develops more products, the $ZO token will become the main utility and governance token of ZeroOne products and the ZeroOneDAO, with a fixed max supply of 1,000,000,000 (billion). The distribution of $ZO is as follows: Core Team -15%, Investors – 15%, Advisors – 3%, Flux Protocol – 29.5%, other ecosystem products – 25.5%, and DAO – 12%.
90% of all ZeroOne ecosystem product’s profits will be distributed to ZO holders; 10% will be used for buybacks and returned to the DAO for the future development of the ecosystem and potential investments.
ZO has successfully raised $3 million, investors include: Conflux Foundation, OKex Block Dream Ventures, A&T Capital, LD Capital, Kernel Ventures, YBB Foundation, and more.
The swap from $FLUX to $ZO has commenced; $FLUX will become part of Web3 history, and replaced by $ZO as Flux Protocol and ZeroOneDAO’s ecosystem token.
1) On Dec. 7th, 2021, the ZeroOneDAO 2.0 Litepaper was published(https://docs.google.com/document/d/1WJNzAh8SO0H-b2jnkvuVRrPcg-brr9frzdR2eLQLIrw/edit?usp=sharing), marking the era of the community further evolving into the a DAO in times of ownership economy and Web3. After the publication, ZeroOneDAO’s first governance vote was launched on Snapshot.
2) On Jan. 4th , 2022, ZeroOneDao’s first vote on “Changing $FLUX to $ZO” was passed with a 100% majority voting for the swap from $FLUX to $ZO resulting in a ration of 1$FLUX to 21.8879 $ZO (https://snapshot.org/#/flux-bsc.eth/proposal/0x49704d4493dfbc605e36536e4dcac617f04a25a560716882ba6166447cae0fc6).
3) On Jan. 12th, 2022, the community carried out the vote on the proposal “Flux – Post token-swap mining allocation”. The results of the vote decided that 7% will be allocation for liquidity mining rewards on Flux Protocol (https://snapshot.org/#/flux-bsc.eth/proposal/0x7026c2bf33bab080be6db500e0e974c68a76cd984bf6c91f038f4169356a9a59).
4) On Jan. 15th, 2022, Flux Protocol officially launched the $FLUX to $ZO swap contract accessible on its website.
5) On Jan. 16th, 2022, the community carried out the vote on the proposal “Cancelling or Channelling Flux Protocol’s Staking Rewards”. The results of the vote decided to channel Flux Protocol’s single asset staking on BNB Chain (formerly BSC), and to concentrate the AMM LP-staking on BNB Chain (https://snapshot.org/#/flux-bsc.eth/proposal/0xfa3f8e8a1dfcfb174fa6c87d03c9b9042e2da37866b30e16ddacef22e1aee235).
The $FLUX to $ZO swap interface can be found on all networks where Flux Protocol is deployed on, so that the community can easily swap their $FLUX to $ZO on their preferred network.