Here’s a detailed summary of the major points discussed during the community call featuring Wayne, Director of Business Development at FILLiquid:
Introduction and FIG Staking Details:
Wayne elaborated on the real-time emission of FIG tokens, which occurs every 30 to 60 seconds. Users must actively claim these tokens on the platform, after which the tokens are transferred to their wallets.
Once FIG tokens are claimed, users have the option to stake them to earn a share of the platform revenue. This revenue is generated from transaction fees: a 0.1% fee when FIL token holders unstake their tokens, and a 1% handling fee will be charged when borrowing.
2. Revenue Distribution Mechanism:
The revenue collected from transaction fees forms a significant part of the ecosystem’s financial model. For example, transaction fees from 10 million staked FIL tokens could generate substantial revenue in USD, assuming a token price of approximately $6 each.
This revenue is then allocated for various purposes: buying back FIG tokens from the market (to burn them and reduce supply), contributing to the foundation’s reserve, and sharing among FIG token stakers, thereby, incentivizing participation and investment in the ecosystem.
3. Audit Completion and Testnet Plans:
The audit of the platform has been successfully completed. The team plans to restart the public testnet soon, introducing updated functionalities for community governance and FIG staking.
Wayne assured that the code would be open-sourced upon restarting the testnet, promoting transparency and community trust.
4. OG Program Insights:
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The OG program rewards the top 50 active members from each language channel. Each eligible member will receive 5,000 FIG tokens, sharing from a total reward pool of 2 million FIG tokens.
Participants need to reach level 20 to qualify and complete a KYC process, ensuring that the rewards are distributed fairly among genuine and active community members.
5. Guardian Program Introduction:
The Guardian Program aims to recruit volunteers to assist users across different languages and help grow the community. Guardians are expected to engage actively in their channels, assist newcomers, and promote FILLiquid on their social platforms.
Rewards for Guardians include up to 3,000 FIG tokens in the first quarter, along with potential whitelist shares and other surprise rewards based on the progression and needs of the project.
6. Mainnet Launch Discussion:
Wayne discussed the community’s concerns about delays and outlined the plan for moving forward. He emphasized the need for thorough testing and data collection from the upcoming second phase of the testnet before transitioning to the mainnet, which is targeted for completion within Q2.
6. Campaign Updates:
The current campaigns on Zealy and Gleam were highlighted, with a reminder that they were concluding on the 11th of May and rewards will be distributed within three days. Wayne encouraged participants to engage with these campaigns vigorously to capitalize on the available rewards.
7. Community Engagement and Feedback:
An interactive quiz was conducted to engage the community, and a feedback session was held to gather insights and concerns from the participants, ensuring that the community’s voice is heard and integrated into the platform’s development.
8. Closing Remarks and Future Plans:
Wayne concluded the call by thanking the community for their active participation and feedback. He hinted at upcoming campaigns and the continuous effort to enhance community rewards and engagement, fostering a robust and supportive ecosystem for FILLiquid.
