Ecosystem Tokens' Multi-Staking

Flex is a community-owned platform that rapidly boosts dApp user growth, ensuring the value generated directly benefits the Flex community.

The Flex ecosystem introduces an innovative staking program inspired by the multi-token staking model. This program allows participating projects to distribute their tokens to FLEXE token stakers.

How it works:

1. Project participation: Projects within the Flex ecosystem can opt to join the staking program. By staking FLEXE tokens, these projects gain the opportunity to distribute their own tokens to those who stake FLEXE tokens.

2. Token distribution: When a project decides to participate, they allocate a certain amount of their tokens for distribution. FLEXE token holders who stake their tokens in the program will receive a portion of these allocated tokens based on the amount and duration of their stake.

Mechanism:

1. Project proposals: Projects interested in joining the staking program must submit a proposal. This proposal includes the number of tokens they plan to distribute, the staking requirements, and the duration of the staking period.

2. Community voting: The proposals submitted by projects are then put to a community vote. Flex token holders have the power to review and vote on these proposals, ensuring that only the most promising and beneficial projects are approved.

3. Voting process: The voting process is transparent and decentralized. Flex token holders can vote on proposals directly through the Flex platform. The number of votes a proposal receives determines its approval status.

The steps involved in participating in ecosystem staking governance derive from the overall Proof-of-Collaboration (PoCol) governance framework.

Benefits to ecosystem projects:

a. Increased visibility and adoption: By participating in the staking program, projects gain increased visibility within the Flex ecosystem. This exposure can lead to greater adoption of their tokens and products, attracting a larger user base.

b. Community support: Projects benefit from the support of the Flex community. Staking Flex tokens to distribute project tokens creates a vested interest among community members, fostering loyalty and engagement.

c. Increase token holder and user wallet counts.

We invite developers, researchers, and enthusiasts to work with our contributors for this section. Start contributing here.