FLURRY Governance Token
FLURRY is the governance token behind the Flurry protocol. Owners of FLURRY are considered as the "shareholders" of the Flurry protocol.
Users who hodls FLURRY tokens will be able to participate in protocol governance through a transparent decentralized voting process.
They will be able to vote on adding, changing, or removing new yield farming strategies the protocol uses to deploy its vaulted stablecoins received in exchange for rhoTokens.
Unlike rhoTokens, FLURRY is not pegged to any stablecoin and its value fluctuates relative to the rest of the crypto market, and the FLURRY token is not used for yield farming.
Instead, it can be purchased on exchanges and staked back into the protocol, earning additional FLURRY as staking rewards.
- Once users earn FLURRY from holding rhoTokens, they can claim their FLURRY, and stake it back into smart contracts, compounding the FLURRY earned. The proportion of the staking pool equals the proportion of the rewards. Rewards are given on a discretionary basis, earliest adopters will earn the biggest shares.
- Users can stake FLURRY in Liquidity Pools.
As the phased approach from centralized to decentralized governance of the Flurry Protocol proceeds, users who hold $FLURRY will be able to exercise their vote on the protocol through updated functions on the user interface. Look for these as they come!
Last modified 1yr ago