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19931303 No.19931303 [Reply] [Original]

Afaik I understand, you need to lock in DAM in order to mint FLUX. Currently under fail safe, so you're only able to lock in 100 DAM per wallet atm.

So then when you mint flux (there are minting bonuses based on how long you've locked DAM in for and how much FLUX you've burned), you can either burn this further to increase your minted FLUX, or you can trade them (when it goes live)?

So the financial incentives for buying DAM are that its fixed, and you need it in order to mint FLUX, which is either burnt to increase futhter flux generation, or sold? So FLUX is the passive reward then right?

And FLUX will integrated into the Datamine DeFi network "to serve as the token for recurring monthly subscriptions that will provide users with access to realtime ETH smart contract analytics."

I get most of it, just a bit unclear re benefit of FLUXs current usecase and potential future usecases. If any big brains could explain this to me I would be very grateful.

>> No.19931413
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19931413

>>19931303
FLUX is internal to the datamine ecosystem.

Full FLUX token source code:
https://github.com/Datamine-Crypto/white-paper/blob/master/contracts/flux.sol

>> No.19931471

This one gonna be huge.
Dyor asap anon!

>> No.19931707

>>19931413

Ah ok. So I guess I have to read more about the ecosystem as a whole then. I get what FLUX is and DAM and the minting and all that. Its more I actually dont understand the purpose of it. No fault of it, I'm just a tard tryna learn

>>19931471

Yeah been doing that all morning brudda. Checked out the twitter and all the docs on their site, etc. Just can't grasp the functionality of it all.

I get how it works, I just dont get what it works for. Could you explain to a brainlet if you have a spare minute

>> No.19931867

>>19931303
A big part of it is also by having an asset that is minted rather than having to spend your DAM. This way it encourages people to actually use FLUX as more can be minted. FLUX is the spendable asset and DAM is the one to hold.

>> No.19931980

>>19931867

Got it thanks fren :)