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Frequently Asked Questions

1. What are the costs to mint and redeem rhoTokens?

Since the Flurry protocol will make use of the Ethereum and Binance Smart Chain networks, users will need to pay gas prices associated with transactions made with ETH or BNB to mint rhoTokens.

2. Can I trade my rhoTokens?

As a stable deposit coin, rhoTokens will be tradeable on exchanges, and through private wallets.

3. When will I receive newly minted rhoTokens?

The amount of rhoTokens in your wallet will grow daily during rebasing. Rebasing will happen everyday at 8:00 am UTC.

4. If I redeem my rhoToken half way through the day, will I receive the underlying yield for that portion of that day?

No, rebasing is only done at 8:00 am UTC, and based on a 24 hour period. If you redeem during the day, you forfeit the yield generated during that time.

5. Why have I not received my daily rhoToken yield?

Smart contracts are set to opt-out of receiving yield by default. Users must initiate the call function to opt in if the exchange is capable of handling elastic supply tokens. This, however, doesn’t work when amounts are sitting on exchanges that don't support changing deposit token amounts. For external addresses, the default setting is opt-in. Users can opt out, but only if they don’t want to receive yield that day for some reason.

6. Why does my earned yield amount change from day to day?

rhoToken balances increase when the supply is rebased. And while rebasing happens daily, the size of each rebase varies depending on how much the vaults have earned over a 24 hour period. While rebases collect earnings from daily lending strategies, sometimes the rebase will involve liquidating rewards tokens creating a higher yield on the day. Therefore yields will vary day to day, though generally balance out over time.

7. Can I buy $FLURRY Tokens?

$FLURRY tokens will go to IDO soon. In the meantime, see the $FLURRY Governance Token to know more.

8. I have $FLURRY Tokens, how do I exercise my governance vote?

$FLURRY governance token voting functions will be added to the Flurry Protocol soon. Refer to the Governance Approach to know more about the roadmap.

9. How does Flurry achieve such good APY?

The Flurry protocol follows an automated process which searches for the most profitable strategies for generating yield automatically and continuously. It deposits the underlying stablecoins of rhoTokens into different DeFi protocols to spread around risk, which is a strategy not cost-effective for individual users, and only unlock vaults once the yields gained outbalance any possible gas fees in conducting the transaction. Additionally, since tokens are batched together in single transactions, the overall fees are less, leading to better yields overall.

10. Is it safe?

The Flurry Protocol is undergoing a security audit by CertiK. We’re fully committed to the safety of your funds, and the funds of the Flurry Protocol at all times. ​
Last modified 3mo ago
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