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Frequently Asked Questions
Questions that you might have in mind about the projects or the tokens issued by Flurry Finance.
1. What are the costs to mint and redeem rhoTokens?
Since the Flurry protocol will make use of the Ethereum, Binance Smart Chain and Polygon networks, users will need to pay gas prices associated with transactions made with ETH, BNB or MATIC to mint for rhoTokens.
Gas fee could be affected by multiple factors, which is entirely based on the traffic (number of transaction being processed) and the network operation during the exact moment of your minting/ redeeming.
It is recommended to reference from previous gas fee history before making your transaction.
2. Can I trade my rhoTokens?
As a stable deposit coin, rhoTokens will be tradeable through private wallets, as well as both centralized and decentralized exchanges.
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 halfway 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 between rebasing occurs.
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 Governance Token is now available on Uniswap (ETH), Pancakeswap (BSC), Gate.io (ETH & BSC) and MEXC (BSC only). Use the trading linke available here to trade for FLURRY token.
*Flurry Finance Team and administrators NEVER direct message you first; NOR send you any contract address*
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. Please refer to the Governance Approach to find more.
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 third-party auditors, including CertiK and Slowmist. We’re fully committed to the safety of your funds, and the funds of the Flurry Protocol at all times.
Last modified 6mo ago
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Contents
1. What are the costs to mint and redeem rhoTokens?
2. Can I trade my rhoTokens?
3. When will I receive newly minted rhoTokens?
4. If I redeem my rhoToken halfway through the day, will I receive the underlying yield for that portion of that day?
5. Why have I not received my daily rhoToken yield?
6. Why does my earned yield amount change from day to day?
7. Can I buy $FLURRY Tokens?
8. I have $FLURRY Tokens, how do I exercise my governance vote?
9. How does Flurry achieve such good APY?
10. Is it safe?