FLY Quick Stats
| Attribute | Details |
|---|---|
| Creation Date | January 13, 2021 |
| Development Stage | Fully released |
| Current Supply | 411,620,846 FLY |
| Total Supply | 1,700,000,000 FLY |
| Algorithm | ERC-20 token |
| Proof Type | N/A |
| Target Spacing | N/A |
Overview of FLY Token
FLY Token (FLY) serves as the native cryptocurrency for the VRM and Black Ocean ecosystems. Built on the ERC-20 standard, FLY offers holders exclusive benefits, including:
- Discounted trading fees and rebates
Access to Black Ocean's advanced solutions:
- Liquidity and Dark Pools
- Token-sale launchpad
- NFT marketplace
- Margin trading
- Liquidity mining opportunities
👉 Discover FLY Token's ecosystem advantages
Tokenomics and Burning Mechanism
To ensure long-term value, FLY implements a monthly token-burning mechanism:
- The company uses profits from each business unit to purchase FLY tokens from public markets.
- Purchased tokens are sent to a public burn wallet, permanently reducing supply.
- This deflationary strategy aims to support market demand and stabilize the token's price.
Merchant Adoption via CoinPayments
FLY Token has expanded its utility through integration with CoinPayments, enabling:
- Global merchants to accept FLY for goods/services
- Secure storage and seamless transactions
FAQs About FLY Token
1. What is FLY Token's primary use case?
FLY functions as the backbone of VRM/Black Ocean ecosystems, granting holders trading discounts and access to premium DeFi/NFT tools.
2. How does the burning mechanism work?
Monthly buybacks using company profits destroy tokens to reduce circulating supply, fostering scarcity.
3. Where can I use FLY tokens?
FLY is accepted by merchants via CoinPayments and powers services within Black Ocean’s platform.
4. Is FLY an ERC-20 token?
Yes, it operates on the Ethereum blockchain as an ERC-20 compliant asset.
👉 Explore FLY Token's latest developments
Disclaimer: This content is for informational purposes only and does not constitute financial advice. Always conduct independent research before engaging with cryptocurrencies.
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