Flow - CoinList

Getting in the Flow

As a decentralized network, anyone can join and build on Flow. Some of the world's top developers and biggest brands are already onboard, serving fan bases counting in the billions:

Flow Token (FLOW) is the native asset for the Flow layer-one blockchain.
CoinList is the only place to purchase FLOW prior to its mainnet release.

Key Highlights

Seamless Onboarding: Designed from the ground up for mainstream adoption, Flow is the only blockchain that builds usability improvements into the protocol layer.

Balanced Native Token Design: FLOW token is required for staking and participation on the platform for purposes of earning transaction fees and rewards.

Built-in User Base: Top developers and some of the world's biggest brands are already building on Flow, enabling completely new experiences with top-tier content.

Flow Architecture

Traditional blockchains force every node to store the entire state of the network and perform all the work associated with processing every transaction in the chain.

Flow blockchain allows nodes to specialize into four “horizontal” roles, based on their financial stake and hardware capabilities (Collection, Consensus, Execution, and Verification). Analogous to modern CPU architectures, Flow pipelines work to each of these node types.

This protocol design allows Flow to achieve high performance and low cost without compromising on decentralization or breaking up the network through sharding.

Learn more

Our Mission: Mainstream Adoption

Flow's community ethos is to increase adoption of crypto through practical understanding – by building products people can use that provide them tangible value.

Developers are already building new kinds of games, social networks, consumer finance products – and everything in between – on Flow.

Crypto apps are like lego blocks – everything someone builds can be remixed and built upon by someone else. What will you build on Flow?

Developer-first Experience

Made by the creators of some of the most popular apps on existing crypto networks, Flow makes building new apps and protocols safe, fast, and efficient. 

ACID-Compliant Environment

The Flow architecture allows speed and scale without breaking the network up through sharding or other “layer two” solutions. This ensures full serializability and easy composability for smart contracts.

Cadence

Already getting love from developers, Cadence is the world’s first high-level resource-oriented programming language, designed to make building dapps and digital assets safer and easier.

Upgradable Smart Contracts

Protocol-level standards make it easy for users to trust the system while allowing developers to securely and transparently patch bugs and upgrade pre-specified parts of their apps.

Smart User Accounts

Flow accounts have full smart contract capabilities – we make it easy for developers to give an awesome user experience (e.g. easy onboarding, "free to play," prepaid fees, and access recovery).

Developer Traction

Flow already has an active and engaged developer community through the Playground, Flow Alpha program, and Open World Builders, among other initiatives. By learning from issues encountered on Ethereum, Flow is built with smart contract primitives and user-onboarding tools to make development as seamless as possible. Dapper believes this will help seed the beginnings of the next great blockchain community.

Flow has announced partnerships with top entertainment brands, development studios, and venture-backed startups. Flow partners include publicly-traded companies like Warner Music, Ubisoft, and Sumo Digital; leading game developers, including Animoca Brands and nWay; leaders in crypto, such as Circle and Binance; as well as some exciting projects among the next generation of high-growth startups, including Magic Labs and Opensea.

We also have a vibrant community of independent developers and small, innovative teams engaged in our online communities. Over 2,700 projects and more than 6,000 smart contracts have been deployed on Flow Playground. In addition, over 1,800 clones of our JS SDK (which developers use to build dapps on Flow) and 10,000+ clones of our Go & Cadence repos have been registered on GitHub.

Flow Token

The FLOW token (“FLOW” or “𝔽”) is the native currency for the Flow network and the fuel for a new, inclusive, and borderless digital economy.

FLOW has several important characteristics vis-a-vis the way it secures and powers the network:

Diverse use-cases
Broad distribution
Minimal monetary inflation

The FLOW token is the token required for staking the platform, as well as the currency in which staking rewards are paid. In addition, small amounts of FLOW token are required to pay transaction fees and a minimum reserved balance is required to pay for storage on the network.

FLOW is also the token always guaranteed to be available for apps and games on top of the Flow network. While developers are always free to generate and issue their own currencies on Flow, the FLOW token will always have the most usage, liquidity, and acceptance on the platform. Over time, FLOW may come to be demanded by consumers as a better medium of exchange and unit of account, or as having advantages as a store of value.

Because FLOW is a low-inflation cryptocurrency, it is designed to offer benefits as a collateral asset for new tokens created on top of the Flow network. This includes stablecoin and decentralized finance protocols. A total of 100M FLOW tokens has been set aside initially to subsidize the creation of these protocols to serve the Flow ecosystem. Given Dapper’s projections, using FLOW as a collateral asset means that as demand for secondary tokens like stablecoins goes up, demand for FLOW tokens should increase in corresponding fashion.

Learn more: token economics

All FLOW tokens sold and distributed, through including this CoinList sale, will have transfer restrictions. The only circulating tokens in the first year are expected to be from rewards paid to validator node operators that are staking their tokens. An allocation of 20 million FLOW tokens will be distributed as additional rewards to staking validator node operators in the 30 days following the launch of the network mainnet in order to ensure sufficient freely circulating supply to kickstart the Flow token economy.

Becoming a staking validator requires a minimum number of FLOW, reflective of the staking ratios the protocol requires to ensure security of the network. However any amount of Flow can be delegated to a staking validator node to earn rewards. This means anyone will be able to participate in the Flow economy and earn rewards from their participation – regardless of the amount of FLOW they own.

Circulating supply at launch	Zero
Circulating supply 30 days after staking rewards start (estimated)	20 million FLOW
Circulating supply at month 6 (estimated)	30 million FLOW
Circulating supply at month 13 (estimated)	300 million FLOW
Fully diluted supply at genesis	1.25B FLOW
Minimum stake to operate  each node type	Collector Nodes: 250,000 FLOW Consensus Nodes: 500,000 FLOW Execution Nodes: 1,250,000 FLOW Verification Nodes:135,000 FLOW
Total annual rewards	3.75% of fully diluted market cap

Learn more: token economics

Token Distribution

Circulating in first 2 years

	Ownership Stake	Vesting Schedule
Ecosystem Reserve	29% of genesis block	TBD at time of distribution and the nature of the usage (e.g., grants / bounties, contribution to a collateral pool, etc.). Currently tokens distributed through the reserve are contemplated to have 12 month lock ups or serve as collateral, never directly entering circulation.
Dapper Labs	20%	Monthly vesting over 5 years, acceleration with network decentralization milestones.
Team	18%	After grant - 3 year vesting, one year cliff. About half of this allocation is granted, the remaining half is held in reserve for future contributions to the protocol.
Pre-Launch Backers	20%	One year cliff, monthly vest over 12 months thereafter
Future Sales	Up to 13% remaining	Community Sale subject to same terms as Pre-Launch Backers, Dutch Auction vests 100% after 12 months. Both can be staked or delegated and earn freely transferable rewards for participation.

Join the Wave

The FLOW sale is structured to take place in two stages, in which any interested qualifying party may participate: 1) the FLOW Token Community Distribution Sale; and 2) the FLOW Token Dutch Auction.

FLOW Token Community Sale

$0.10 / token (up to $1,000)

The community sale provides open access and broad participation to an unlimited number of community members to purchase up to 10,000 FLOW tokens each. Purchases up to this amount are guaranteed to any qualifying participant and is set at the same terms as pre-launch venture capital-led rounds ($0.10 per token). While each purchaser may purchase up to 10,000 FLOW tokens, there is no limit to the overall number of tokens sold.

Purchase now

FLOW Token Dutch Auction

Starting Bid: $1.00 / Reserve Price: $0.10

Alongside the community sale, a Dutch auction will be conducted on October 6th to allocate the remaining pool of tokens. A minimum of 25M FLOW tokens are reserved for the auction, although this allocation may be increased to ensure adequate supply.

Place your bid now

Community referral program: Receive 500 FLOW tokens per successful referral, no max limit

Sales Terms

Community Guaranteed Price
Asset	Token Purchase Agreement - FLOW Tokens
Sale Period	Sep 22, 2020 at 4 pm UTC - Oct 2, 2020 at 11:59 pm UTC
Price	$0.1 (same price as VC participation) at $125mm genesis block valuation
Max purchase limit	$1,000
Terms	50% of tokens become freely transferable after a one year cliff, the remaining 50% vest on a monthly basis over the following year (same as prelaunch VCs)
Max Supply	Max 10%
Eligible Participants	Non-US persons only

Auction
Asset	Token Purchase Agreement - FLOW Tokens
Auction Type	Dutch Auction
Key Auction Dates	Deposits & bidding open: Sep 23, 2020 Auction live: Oct 6, 2020 at Noon UTC
Starting Bid	$1
Reserve Price	$0.10
Minimum Bid	$50
Terms	1 year lock-up, after which fully unlocked
Supply Available in auction	Min 2% - Max 6%

Previous Backers

Partners

Contributors

Flow is the only layer-one blockchain built by a team that has consistently delivered great consumer blockchain experiences: CryptoKitties, Dapper Wallet, NBA TopShot.

Flow includes many features that address many of the inherent complexities in decentralized systems, allowing developers to focus on the unique features of their project. This includes drastically simplifying the on-boarding friction that blocks mainstream users from enjoying the power of this transformative technology.

The Flow team is composed of leading researchers and experienced production engineers who have worked together for years defining a novel approach to blockchain architecture. They have delivered a cutting-edge system with strong security guarantees, wrapped up in a package of commercial-quality code being deployed and run across the globe.

Roham Gharegozlou

CEO

CEO of Dapper Labs, the creators of CryptoKitties, Flow and NBA Top Shot. Previously founder and CEO of Axiom Zen, co-founder of ZenHub. He holds a bachelor's degree in Economics and bachelor's and master's degrees in Biological Sciences from Stanford University. 

Dieter “dete” Shirley

Founder and CTO

CTO of Dapper Labs. Co-created CryptoKitties and authored the ERC-721 proposal that defined non-fungible tokens on Ethereum. Dete also acted as the CTO of Axiom Zen for four years, and prior to that as the Head of Development at Atimi Software and a senior software engineer at Apple.

Learn more about the Flow team

Quotes

“Blockchain technology has the potential to revolutionize consumer ownership on the internet,” said Andre Iguodala, three time NBA champion, tech entrepreneur, and current Miami Heat forward. “Projects like Dapper Labs’ Flow is already driving consumer adoption, with NBA Top Shot proving the experience is not only engaging, but smooth and fan friendly.”

Andre Iguodala, NBA Miami Heat

“Blockchain is going to fundamentally alter the financial industry and have a major impact on consumers,” said Spencer Dinwiddie, Point Guard on the Brooklyn Nets and avid blockchain enthusiast. “Flow can create the vehicle for consumers to enter the space through products like NBA Top Shot where they have fun, but at the same time create a new self-sovereignty.”

Spencer Dinwiddie, NBA Brooklyn Nets

“Flow’s innovative multi-role architecture, resource-oriented programming, developer ergonomics, easy consumer onboarding, resource pricing, and storage deposits will be an asset to the industry at large.”

Joe Lallouz, CEO of Bison Trails