Official FLASH v2 Launch FAQ

This FAQ is continuously being updated. If you spot any outdated information, please add a comment at the bottom (citing the questionable part).

What is the correct contract address for the new FLASH V2?

How do I migrate my eligible FLASH v1 to v2?

Will there be any bonus for v1 to v2 migration?

What if my LP $FLASH amounts to more than what is shown in the snapshot?

What do I do with my v1 Flashstakes?

I bought v1 FLASH after the snapshot, can I migrate them to v2?

What if I bought FLASH v1 after the grace period?

I sold v1 FLASH after the snapshot, can I migrate them to v2?

Is there anything new in the Flashstake v2 dApp?

Are the FPY and APY’s resetting in v2?

What is the difference between the Uniswap and Flashstake dApp liquidity pools?

⚡️ Three Flash Mainnet Launch Strategies | Staker vs. Maker vs. Taker

Are there any additional mining programs or incentives for migrating to v2?

Where can I view Flashstake stats?

I still haven’t claimed my original FLASH from the Claims dApp, what do I need to know?

I Flashstaked my v1 tokens for 2 years: can I let them sit idle, unstake them in 2 years, and then migrate those v1 FLASH tokens?

Where can I get further info or support?

Flashstake v2 Migration Guide

Below, you will find our FLASH v2 Migration Guide. If you have any other specific questions or problems that arise during this process, please refer to the links below!

Step 1.

Connect your wallet! Ensure that the wallet you are connecting matches the wallet that contained $FLASH v1 the time of the snapshot.

After connecting your wallet and entering the Flashstake Migration Bridge, you’ll see the second image below, with the two options: FLASH v2 and STAKES. Pick whichever one pertains to you.

Step 2.

After connecting your wallet, there are 2 places to check.

  • Click the “FLASH V2” to see any unclaimed $FLASH associated with your address (if applicable).
  • Click the “STAKES” to see  if you have any V1 Flash staked. If any V1 stakes have not expired yet, there is no immediate need for you to unstake early. Your tokens will still be migratable to v2 at the end of your existing Flashstake.

Step 3.

In order to migrate to FLASH v2, you’ll need to first approve your v1 Flash.

Click approve, and then Metamask (or your chosen wallet provider) will pop up with a transaction that you must approve and pay a small gas fee.

 

Step 3B.

THIS SECTION PERTAINS TO EARLY UNSTAKING ONLY – PROCEED TO STEP 4 IF YOU DO NOT WISH TO EARLY UNSTAKE

For anyone who wants to unstake early, the process looks fairly identical to the v1 Migration steps outlined above.

Please be aware that if you choose to early unstake, you will be burning $FLASH in the process, and the amount of v2 $FLASH you’d receive will be much less than the amount of v1 $FLASH you currently have.

As stated above, you will be able to migrate to FLASH v2 at the end of your existing Flashstakes, so there is no urgent need to migrate now.

If you wish to unstake early, simply click “UNSTAKE”, click “Confirm”, and then MetaMask (or your chosen wallet provider) will pop up with a transaction that you must approve and pay a gas fee. After that confirms, your done! Your v1 Flashstaked tokens will have been converted to v2!

Step 4.

After a few moments, the transaction will be approved. You will now see a new button that will allow you to Migrate to FLASH v2. Click “Migrate” then click “Confirm.” Once again, another MetaMask transaction popup will occur, and this will be the last transaction that you’ll need to approve before your FLASH v1 is migrated over to v2. Your almost there!

Step 5.

After a few minutes, your transaction will confirm. You will see a message that says “Transaction Succesful,” as well as an etherscan link if you want to verify it on the blockchain.

Step 6.

Celebrate! Jump around! You’re now an official v2 Flashstronaut!

Blockzero Labs Opens $25,000 Bug Bounty for Flashstake v2 Protocol

In addition to receiving an updated audit for the Flashstake v2 protocol from Solidified.io and continuing to internally battle test the protocol, Blockzero Labs is opening up a $25,000 Bug Bounty to be completed over the next five days. Here are the three contracts open to the bounty.

Participants have until Friday at 6pm UTC to submit bugs.

To submit a potential bug, please submit your findings here: https://blockzero.typeform.com/to/hl15qvhk

All bugs submitted will receive an independent review from the Blockzero Labs Core Citizens and given a ‘Severity Score’.

Based on the Severity Score given to the bug, the user who submitted the Bug can earn up to $25,000 in compensation.

  • Participants have until Friday at 6pm UTC to submit bugs.
  • Bugs are rewarded on a first-come first-serve basis. This means, if two people submit the same bug, the person who submitted the Typeform first will be the only person eligible for compensation.
  • Not all bugs will be treated the same or given the same compensation.
  • Bugs discovered that would result in a loss of funds on the protocol will be judged with higher Severity Scores.

If you have any questions about this process or would like to discuss the security of Flash v2, please join us here in a private telegram chat.

$FLASH v2 | Five Things to Look Forward to in 2021

Within the first 75 days of launching, the Flashstake protocol hit some ridiculous numbers.

The market spoke, and the market said it enjoyed Flashstaking.

While we are extremely excited about our past, this post is about our future. Here are five things for Flashers to look forward to in 2021.

1) 150k Liquidity Mining + Staking Program

Last week, we announced Blockzero Labs would be offering 100,000 $FLASH to users who migrate to FLASH v2 through a Flash Liquidity Mining + Staking program.

Today, we are announcing that Blockzero Labs is putting up an additional 50,000 $XIO in celebration of the v2 migration. This means there will be 100,000 $FLASH + 50,000 $XIO up for grabs within the first month of migration. Here is how to participate:

For each day you are staked or adding liquidity, you will earn Flash Credits. The Credits you earn are redeemable for $FLASH + $XIO at the end of the month, proportional to your ownership of the credits. Here’s an example:

If there are 1,000,000 Credits earned by all Flashers and you earned 50,000 Credits, you account for 5% of the total credits. You would receive 5,000 $FLASH (5% of 100,000) + 2,500 $XIO (5% of 50,000) at the end of thirty days.

To earn Flash Credits, you can do one of the three following things.

  • 1.25x Multiplier: Users who have an active stake on v1 and/or users who Flashstake for a minimum of 30 days on v2
  • 2x Multiplier: Users who add ETH/FLASH liquidity to the Flash v2 Uniswap pool
  • 4x Multiplier: Users who add ETH/FLASH liquidity to Flashstake.io

A daily snapshot will be taken of all holders. After one month, users will be able to redeem their earned $FLASH + $XIO from our Claims dApp.

2) The New Look — Sweeter Than Cotton Candy

One month ago, we had a long-term Blockzero Citizen create some awesome mockups for Flashstake.

After we migrate to v2 and secure the protocol, Blockzero Labs will put development resources to see these new UX/UI design concepts come to life.

Image for post

3) Optimism + L2s

Just last week, the current lead for helping Ethereum Scale (Optimism) made this tweet.

As soon as Optimism is made public, Blockzero Labs plans to put development resources into this and will continue to explore alternative chain options (Avalanche, Fantom, etc).

The cost to Flashstake would be roughly 25–250x cheaper using Optimism.

4) Transferless Payment System

Venmo and PayPal give you a custom link to send to your friends for payment.

FlashstakeMe is a platform that will do exactly this. The difference is, instead of having to send you money, they can simply Flashstake and redirect the yield to your wallet.

They keep their capital. You keep the interest.

Simple as that.

FlashstakeMe would be the world’s first transfer-less invoicing system.

While it is not yet known how people would use this, we believe this platform would create a simple solution for startups to raise risk-mitigated capital.

5) FLASH Zynthetic Upgrade

Imagine being able to Flashstake any token.

Whether it be DAI for LINK or SNX for AAVE, the Flash Zynthetic Upgrade would make this possible.

Since making this video, the community has spoken and decided to move Zynthetic under the Flash protocol umbrella, rather than have it be a stand-alone project.

Flash Forward

We could not be more proud of the community feedback and response we have received over the last week.

Despite a sudden move to v2, our Flashers continue to show how excited you are about the potential impact that Flashstaking can have on the entire crypto industry.

We thank you for your continuous support, patience, and shared enthusiasm during this time.

Let’s make 2021 awesome — the future is at stake after all.

Flashstake v2 Pre-Emptive Patch Migration Plan

Flashstake v2 Official FAQ

What happened to Flashstake?

Note: Blockzero Labs (XIO) is not impacted by any of the following information. 

There was a potential security issue discovered in the current Flashstake smart contract by a current and long-time Flashstake community member. After deeper research, we believe it’s in the best interest of the project to immediately deploy Flashstake v2, a pre-emptive patch to secure the Flashstake protocol for years to come.

A snapshot was taken at block #11897600 (2:20AM UTC Feb 21) of all $FLASH holders, Flashstakers, and LPs. To ensure proper liquidity for Flashstake v2, we immediately removed our initial liquidity at block #11897619 which will be used in Uniswap for Flash v2.

The price of FLASH will be set at the same price it was at the time of the snapshot.

 

What are some examples of suspect transactions?

https://etherscan.io/tx/0x65712147542c69441f4d19bd006ed1f2b87a957adfcc56a4ef5476b3e8437b99

https://etherscan.io/tx/0x893df77825b49c34dd93f7d23dc4123e8ea510c7246144a3e2a5d984a71da4cb

https://etherscan.io/tx/0x271267b4cd2f304da63c634785549100740b567bf2ccd83ffac2b5b86ce4262c

https://etherscan.io/tx/0x355198f8887cfe5daae68ac729f352a3912cec18356b00110d5325c80fdf9caa

https://etherscan.io/tx/0x2fca232fe51f47fbb82523ff46db2fe5ef62902211a1ac1182bded160400e7a4

We’ve provided these transactions for sake of full transparency.

 

What are the next steps? 

The Blockzero Labs team is working on an upgraded Flashstake v2 smart contract to prevent this type of exploit in the future. We are working on this as quickly as we can, and hope to make a release as soon as possible. We have taken a snapshot at block #11897600 to protect all tokens at that point in time. Any tokens included in the snapshot will be able to migrate to v2.

 

What will FLASH holders need to do? 

When the migration is ready, anyone who held $FLASH at the time of the snapshot can upgrade their tokens to Flashstake v2 by going to a URL we will provide in due course.

Tokens acquired after block #11897600 will not be eligible for v2 migration.

 

Why should I move to Flash v2?

Blockzero Labs will be offering a total of 100,000 $FLASH tokens which will be shared among those who participate in the following liquidity mining/staking program which will run for 30 days upon launch of v2. For each day you are staked, or in either of the LP pools (Uniswap or Flashstake Dapp), you will earn at the following ratios:

  • 1.25x Multiplier: Users have an active stake on v1 or users who Flashstake for a minimum of 30 days on v2
  • 2x Multiplier: Uniswap WETH/FLASH LP token
  • 4x Multiplier: Flashstake.io (Dapp) WETH/FLASH LP token

A daily snapshot will be taken of all holders. After one month, users will be able to redeem their earned $FLASH from our Claims dApp.

In addition to $FLASH rewards, any person who successfully migrates their $FLASH within 10 days will earn 100 $FLASH.

LPs will also receive 100 $FLASH per every liquidity pool they participated in at the time of the snapshot (ex: If you had 50 $FLASH staked, you had 50 XIO/FLASH LP tokens, and 50 FLASH/WETH Uniswap LP tokens, you’d receive 300 $FLASH total). 

We hope these tokens can be used to earn future Blockzero Labs projects, or cover for ETH gas fees.

 

What is the immediate action that needs to be taken by any FLASH liquidity providers? 

At this time, we highly encourage all LPs to remove their liquidity from any pools that they are participating in, and migrate their tokens to Flashstake v2 when that is made available.

 

What about those who have current stakes in the Flashstake dApp?

Individuals who have their $FLASH staked inside the v1 dApp do not need to do anything at this time. These tokens will be migratable to Flash v2.

 

Are Blockzero Labs $XIO tokens affected?

Not at all. $XIO tokens have no relevance to this issue, and your tokens are safe and will continue to earn future tokens (such as $AQUA). Only Flashstake v1 is affected.

 

Will I be able to claim FlashV2 if I sold my FlashV1 and repurchased?

In order to migrate to Flash v2, you will need to have held $FLASH tokens up to the snapshot time. This means if you held 1,000 tokens at the time of the snapshot, but then you sold, bought back, you will be eligible to claim up to 1,000 Flash v2.

 

What happens if I removed liquidity and received mostly FLASH tokens, but the snapshot FLASH value is lower?

Blockzero Labs will take care of these types of discrepancies on a one-on-one basis. LPs will be able to trade in their non-migratable v1 FLASH tokens for new FLASH v2.

Please fill out this form with your information: https://blockzero.typeform.com/to/Mm4HNA7Z

What if I need further assistance?

Please send us a support ticket at https://help.blockzerolabs.io 

 

Heartfelt thank you!

The strength of the Blockzero Labs community is one of our greatest assets. We thank you for your amazing support as we work through this situation together.

We wanted to be as transparent as possible with this delicate process, and your steadfast support and understanding goes beyond words!

We understand that this is a sudden announcement, and we do not take the security and safety of FLASH supporters lightly.

A full report of the technical findings and timeline of this migration will be published after the migration has been successful.

Thank you to all of you who joined our YouTube live-stream and for helping us spread the right messages throughout our Telegram and socials.

Flash Launch Recap | Livestream AMA

After the successful launch of FLASH on New Years Day, Zach wanted to take some time to answer some of the communities questions and share the vision for the future of FLASH.

Some of the many topics addressed include the future of FLASH, possible Layer 2 solutions, how to calculate fees earned and the FPY breakdown, as well as answers to a bunch of great community questions.

Timestamps for the video can be seen below:

Looking Forward with Flash – 4:20

Stats.flashstake.io Breakdown – 7:00

FPY Explanation – 8:34

Initial Bug Fixes – 11:00

How to Calculate Fees Earned – 12:50

L2 Solutions – 16:00

Questions – 16:4021:15

Flashstake Recording Reward – 22:00

Flashstake.me Breakdown – 23:15

Flashtickets – 26:05

Flashstake NFT – 28:08

New Token Announcement (Jan 15th) – 36:00

Deflationary Index Fund – 37:10

Community Questions – 40:55

Record Yourself Flashstaking. Upload the Video. Earn Up to 1000 $XIO

Want to earn up to 1000 $XIO just for making a quick video? Here is how you do it.

  1. When app.flashstake.io is live, record yourself doing a Flashstake (does not have to be your first flashstake, Zachary Dash mispoke in the video)
  2. This can be through your smart phone, screen capture, anything!
  3. Upload the video to Twitter (2:20 minute max) and Youtube!

 

Make sure to incorporate the following items in your Tweet + Youtube title:

  1. $FLASH
  2. @Flashstake
  3. Your XID (If you don’t have an XID, you need to create one here)

 

Payouts:

  1. 1000 XIO = Most creative
  2. 750 XIO = Second most creative
  3. 500 XIO = Third most creative
  4. 100 XIO = Anyone who participates and posts decent quality video.=

To be eligible to participate, the XID wallet you’re using must have had at least 100 $XIO at the time of 00:00 UTC New Years 2021. Deadline is January 3rd at 6:00am UTC

Three Flash Mainnet Launch Strategies

Overview

To help ensure that your initial Flashstake experience goes as smoothly as possible, we wanted to share three strategies that you could use during the mainnet launch.

Be sure to check out the video above for a step-by-step demonstration of how each of these strategies can be used on the dApp itself!

Feel like reading a summary blog instead? Well, we’ve got you covered down below. Read on to find out if you’re a…

Staker, Maker, or Taker.

Stakers – The people staking FLASH and earning instant yield (altcoins)

Stakers will most likely comprise around 80-90% of our initial user base for Flash. See the image to the right for an example of what you will encounter when staking on the dApp, day one.

Even if you didn’t participate in one of our many battle-tested betas, staking will be the simplest entry point into using the dApp. It’s as simple as taking your $FLASH and staking a set amount into the protocol for a predetermined amount of time.

At that point, new $FLASH are generated because of your stake, and they go over to a liquidity pool of your choice (for example, $DAI, $ETH, $LINK, etc…). Once you chose your desired pool, those alt-coins are sent to you immediately! Or, one can say, in a flash. It’s as simple as that! After the stake duration is complete, you can unstake your original $FLASH. So in the end, you’ll have received your immediate upfront yield in the form of an ERC-20 token of your choosing, and your initial $FLASH.

Makers – The liquidity providers who earn stake/swap fees (just like Uniswap)

Makers comprise the liquidity providers who earn stake/swap fees, much like on Uniswap. For a more in-depth breakdown of all the similarities and differences between Flash and Uniswap, check out this blog and explainer video.

Flash is a permissionless protocol, so anyone can create any ERC-20 token pairing that they want, and create a pool for that pairing. Makers will primarily be engaging with either the “pool” or “create” tabs on the Flash dApp (as seen in the adjacent images). The “pool” tab will allow users to deposit liquidity into a pre-existing pool (for example, $FLASH/$wETH), while the “create” tab is for users who want to create a new pool entirely (say $FLASH/$DOGE).

Every time somebody initiates a stake or a take, makers are rewarded. Unlike Uniswap, Flash maker rewards are dynamic – earning anywhere from .1%- 10% one each of those transactions. For sake of comparison, Uniswap, only offers a static fee of .3% per swap.

In terms of actual rewards for makers per every stake or take, all you do is take the Flash Percentage Yield (FPY) and divide it by five. Click here for a more in-depth technical one pager explaining how the FPY is calculated.

Takers – The arbitragers who balance the FLASH liquidity pools

Takers represent the arbitragers who balance the $FLASH liquidity pools. The “taker” can be represented by the “Swap” tab, as seen in the adjacent image. What they’re doing is filling up the makers pool – they’re swapping in altcoins, and actually earning $FLASH for doing so. They can choose to deposit or swap any token for $FLASH. Just like on Uniswap, you’ll perform a regular swap, and a percentage of that transaction will go directly to the liquidity providers.

Now why would anyone want to put in an altcoin and get $FLASH in return? Well, if they happen to notice that $FLASH is a different price on Uniswap than what it is inside the Flash dApp, they could then swap their $FLASH and earn the altcoins. For example, if you have $100 of $LINK,  you could potentially swap it for $120 of $FLASH. Now, you’d have $20 extra dollars that you could, in theory, swap and keep doing whatever you want with!

Some other potential routes that takers can take (pun intended), is they can take their newly received $FLASH and:

  • Stake it back on the dApp
  • They could potentially pull it from the dApp altogether or…
  • They can go straight to Uniswap and swap it

Summary & Socials

Hopefully, this provided some clarity around the various intricacies of the Flashstake dApp, and it’s got you feeling excited to play around with it on launch day. Will you be a Staker, a Taker, or a Maker?

To reiterate, you’ll be able to claim your $FLASH in the claims dApp at 1pm UTC on New Years day (1/1/21).

After you’ve claimed your $FLASH, head on over to the FLASH dApp page and find your true calling as a Staker, Maker or Taker.

Be sure to check out our socials to stay connected with everything FLASH.

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