Flux Parallel Assets
Flux is always striving to bring new ideas to the blockchain by creating innovative features. One such feature is the Flux parallel assets.
Flux started three years ago as Zelcash but has undergone many changes since the initial launch. One of the most significant changes happened on March 17th of 2021 as Zelcash was hard forked into Flux.
When the fork to Flux was executed ten parallel assets were integrated into the Flux ecosystem making it possible to establish Flux tokens on ten blockchains outside of Flux. The Flux ecosystem is now able to interact with ten other blockchains and access Defi trading and features on multiple large decentralized exchanges. This not only brings versatility and great trading opportunities for Flux but also paves the way for future developments and more innovation.
💥What are parallel assets and how do they work?
Flux parallel assets are Flux tokens on other blockchains. There will be ten in total and thus far three of them have been launched:
💥Flux-Kadena.
💥Flux-Binance Smart Chain.
💥Flux-Ethereum.
In October 2021 two more parallel assets will be launched, Flux-Solana and Flux-Tron. In the first quarter of 2022, the next pair of parallel assets will follow.
💥How does the Flux economic model work in relation to the parallel assets?
In the economic model introduced at the Flux hard fork, the maximum supply of Flux was increased. This was necessary to support the continued incentivization of miners and node operators as well as enabling the distribution of the new parallel assets.
At the time of the hard fork from ZEL to Flux the circulating ZEL supply of 123 million was converted 1:1 to Flux and the new maximum circulating supply for Flux was set at 440 million Flux. Over time the Flux circulating supply will thus grow from 123 million to 440 million.
The parallel assets in the circulating supply are distributed in two ways; Airdrops and Parallel mining.
💥What opportunities do parallel assets create for Flux holders and the Flux ecosystem?
The native Flux coin itself has many uses within the Flux ecosystem, which you can use for launching and managing applications running on the Flux network, to collateralize and run Flux nodes on the network, for governance in the Flux XDAO, staking (currently exclusive to CoinMetro) and even for an additional decentralized security layer for your Zelcore wallet account known as d2FA.
Parallel assets aim to overcome these limitations and create vast utility for the Flux ecosystem. Parallel assets bring with them the following benefits:
- Enables Flux to conveniently travel between blockchains utilizing the Flux Fusion bridge. All done with a few clicks using the Fusion app in the official Zelcore wallet.
- Enables Flux holders to partake in Defi on major platforms such as Uniswap (on Ethereum), PancakeSwap (on Binance smart chain), and KADDEX (on Kadena).
- Provides many opportunities for arbitrage trading as Flux is now being traded on many Defi Platforms.
- Establishes a more stable market for Flux with much greater liquidity and less slippage when trading, also balances the market against any actors trying to control the market.
- Enables the Flux computational network to integrate parallel assets with decentralized applications and Infinity Contracts.
- The combination of the Flux parallel assets, the Flux computational network, Fusion, and the Zelcore wallet create a powerful platform for trade by combining the best of centralized and decentralized exchanges in one complete package.
A short introduction to Flux Defi
If you hold Flux parallel assets you can utilize them on their native blockchains using your favorite decentralized exchanges. You just need to add the Flux parallel asset contracts and off you go. Zelcore is able to conveniently connect to the various Defi exchanges through the Wallet Connect Feature.
On Defi exchanges, you can trade between various assets as well as earning additional money by providing liquidity in liquidity pools. If you want to learn more about Defi trading please visit the official Flux Discord where you can find helpful community members as well as community-developed guides to Defi.
The Flux parallel assets operate in Defi similar to any other token on a given blockchain. Liquidity pairs have been established on all three Defi exchanges currently available enabling everyone to trade as well as supplying liquidity and earning a share of trading fees.
Warning: When interacting with Defi be vigilant! There have been several cases of scams trying to bank on the recent success of Flux by creating fake tokens that imitate Flux. Usually, they try to get users to interact with their token contracts by promising false airdrops and the like. Always check that you’re interacting with the correct Flux contract. If in doubt, you can find help by visiting the official Flux Discord.
Here are the contracts needed to add the Flux parallel assets:
- Flux token on Ethereum:Â 0x720cd16b011b987da3518fbf38c3071d4f0d1495
- Flux token on Binance Smart Chain:Â 0xaff9084f2374585879e8b434c399e29e80cce635
- Flux token on KADDEX
Flux is launched as the first asset onKADDEXbesides Kadena, so a contract address is not needed.
Here are some resources relating to Defi.
For Binance Smart Chain:
- Community made a guide on adding liquidity to a Flux liquidity pool on Binance Smart Chain
- Pancakeswap info on Flux parallel asset token
For Ethereum:
- Community made a guide on adding liquidity to the Flux/ETH liquidity pool
- Uniswap info on Flux parallel asset token
For Kadena:
How to earn and claim Flux parallel assets?
You can earn Flux parallel assets in three ways:
- Airdrops for Flux holders.
- Parallel mining rewards for GPU miners.
- Parallel mining rewards for Flux node operators.
To see what else is happening in the Flux ecosystem check out the Flux roadmap, many exciting things are on the way.
Feel free to drop by the Flux discord to meet the Flux team and community. And also make sure to visit the official Flux website hosted on the Flux decentralized network.
