Flux Expands With Two New Parallel Assets, Set for July and August releases.
Flux is expanding its ecosystem with two new parallel assets, Flux-AVAX & Flux-COSMOS. This will increase the reach of the Flux Fusion cross-chain bridge, add more Defi utility to Flux and make the integrations between the Flux ecosystem and the Avalanche and Cosmos ecosystems more accessible. It will also enable Flux node operators and GPU miners to claim their previously earned and future parallel mining rewards.
This summer will see the introduction of two new parallel assets into the Flux ecosystem. In July, we expect to distribute the Flux-Avalanche tokens, and in August, the Flux-Cosmos tokens.
Flux parallel assets are simply Flux tokens on other blockchains. You can compare the parallel assets to expatriate citizens. They are native to Flux but are living abroad. They have all the benefits of the foreign ‘country’ they reside in but can always return home; it’s like they’re holding two passports.
Native Flux can be swapped to and from any parallel assets available. No matter what assets are swapped, native Flux and flux parallel asset swaps always happen at a 1:1 ratio (though some fees are involved). Swapping is done in the official Flux wallet Zelcore using the Fusion app. Using Fusion to swap is very simple and is done with a few clicks.
Flux parallel assets also enable parallel mining, which dramatically improves the profitability of Flux GPU mining and Flux nodes. For every native Flux earned by a miner or a node operator, an additional 10% of each parallel asset is earned on top (excluding fees). This highly incentivizes miners and node operators essentially double their block rewards once all ten parallel assets are in play. Even the parallel assets not yet deployed are accounted for, so miners and node operators will receive rewards retroactively once launched.
Overall, Flux parallel assets are an integral part of the Flux ecosystem. They enable Flux to travel between different blockchains, enabling new exciting possibilities for ecosystem integrations. They also make it simpler for Flux holders to utilize the various Defi offerings of the parallel asset ecosystems. And they make it easier for exchanges to list Flux as they can choose to list the assets that are the simplest to integrate onto their platforms.
And now we have two more parallel assets joining the Flux family and expanding the ecosystem.
Welcome our two new parallel assets, Flux-AVAX & Flux-ATOM
It’s always great to see the Flux ecosystem grow. And this time around two awesome new ecosystems is being opened up for Flux to integrate with.
First up, is the expected deployment of Flux-Avalanche in July.
The Avalanche blockchain is focused on being the fastest smart contracts platform available. It’s an open-source platform for launching decentralized applications and enterprise blockchain deployments. It’s an ecosystem for Web3 where developers can utilize the feature set and developer-friendly smart contract support to build new decentralized applications.
In August we expect to see the deployment of Flux-Cosmos.
The Cosmos blockchain is building an ecosystem of independent interconnected blockchains. On Cosmos, developers can choose to build entirely autonomous application-specific blockchains that can easily interconnect. It’s a platform focused on decentralization, interoperability, and autonomy. It’s currently home to 265 applications and services.
As the premier provider of decentralized Web3 infrastructure, there is much benefit for Flux in integrating with both the Avalanche & Cosmos ecosystems as the many applications developed on their platforms need infrastructure to function. We’re already seeing some of the great applications from these ecosystems running on Flux, and one recent example is the Pangolin Defi platform (from the Avalanche ecosystem). We expect to see many more dApp deployments in the future.
Welcome, Avalanche and Cosmos!
Once the new parallel assets are deployed, the initial distributions can be claimed in the Fusion app in the Zelcore wallet. The process will be similar to previous parallel asset distributions. Follow announcements on the official Flux social media channels as more information will follow closer to distribution.
We’ve still got three parallel asset distributions; it’s not too late to jump in.
With these two new assets, seven of ten planned asset distributions are done. Flux holders still have three more distributions coming in the future. Also, anyone running Flux nodes or securing the network by GPU mining will earn 10% of each parallel asset (excluding claiming fees) on top of the regular Flux block rewards, both for deployed and future parallel assets. It’s never too late to jump in.
Flux is fueled by community, so we invite you to come to take part. All are welcome; it doesn’t matter if you’re just interested in technology, an investor, a developer, or like to make crypto memes all day. Flux needs all kinds of people to participate in the decentralized future.
If you want to witness what Flux has built so far, visit the Flux network dashboard and see how many nodes we’ve got online, check out the massive resources available to the network, and see what decentralized apps are running. The current rewards are for Flux node operators.
And also, please do stop by the Flux discord to meet the Flux team and community and discuss all things Flux; we’re always on the lookout for new community members or developers.