Fluidity (FLUID)

From CryptoWiki

Fluidity rewards users for using fTokens. That includes anything from simply sending a transaction, to performing swaps and buying NFTs.

Basics

History

Audits & Exploits

Bugs/Exploits

  • Someone found a bug of freezing of batched rewards which was a HIGH severity impact in the scope table, he got paid $50k bug bounty (11-2-2023).

Governance

Admin Keys

  • From their docs (12-2022):

"Fluidity is governed by a pair of multisigs:

  1. The community multisig (the operator) - a 4/6 multisig operated by members of the advisory team and well-respected members of the community at large
  2. The emergency multisig (the emergency council) - a 2/6 multisig operated by the same members of the advisory team"

One of these members is ZachXBT.

DAO

Treasury

Token

Launch

Token Allocation

Utility

  • From the docs (9-2022):

"The $FLUID Governance token serves multiple purposes including:

  1. Utility Mining.
  2. Bootstrapping and Rewarding Protocols.
  3. Recieving Higher Expected Outcomes
  4. Utility as a Service.
  5. Changing Protocol Parameters."

Other Details

Coin Distribution

Technology

How it works

"Users first deposit a stablecoin (i.e. USDT, USDC, DAI, etc) into the Fluidity protocol and get a Fluidity-wrapped token (for the sake of this story, we'll call this asset an fToken, like fUSDT or fUSDC, for example). The original stablecoin is then deposited into a yield-earning protocol like Aave or Compound. That becomes a sort of lottery jackpot in this arrangement. The payout you get varies "based on total value locked, daily active users, and gas fee of the specific transaction,” Fluidity co-founder and CEO Shahmeer Chaudhry told Decrypt. “About half of transactions win something, whereas, on average, once every three months, someone will win a very large payout.”

But what about crafty degens who try to boost their odds by wash trading fTokens back and forth between their wallets? Chaudhry explained that the gas fees to execute such spamming would “statistically” outweigh the potential payout. “There will be cases where if you win a large amount, you will get way more than input costs, but statistically an attacker will go bankrupt,” he said. He and the Fluidity team call this the “optimistic solution.” This is because, “the algorithm also rebalances the yield distribution accounting for this, so if transactions spike up, probability of payouts go down, like a difficulty function,” meaning those lottery odds drop as usage rises."

  • From their blog (19-12-2022):

"Fluidity works by wrapping stablecoins and lending out the underlying assets on money markets. Whenever a transaction with a fluid asset occurs, it counts as a potential yield-generating event. Transactions will be eligible for a reward which will be paid out instantly in the wrapped asset. Rewards can range from a few cents up to thousands of dollars, and there are no fees when using Fluidity. On top of that, the rewards will be split 80–20 between sender and receiver."

Fees

Upgrades

Staking

Validator Stats

Liquidity Mining

Scaling

Interoperability

Other Details

Oracle Method

Their Other Projects

Roadmap

Usage

Projects that use or built on it

Competition

Pros and Cons

Pros

Cons

Team, Funding and Partners

Team

Funding

Partners

(:

Knowledge empowers all and will help us get closer to the decentralized world we all want to live in!

Making these free wiki pages is fun but takes a lot of effort and time.

If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.

ETH tip address: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31