Flow

FAQ's

What is Flow?

Flow by Dapper Labs (The company which created CryptoKitties) is a blockchain network that aims to be fast, secure, and developer friendly.

The idea for a new blockchain targeting games and social networks was conceived after Ethereum faced large scalability issues as seen with the high transaction fees during the CryptoKitties hype. The Flow team deduced shards and sidechains were not long term solutions for apps that strive for performance.

FLOW token is the native currency for the network. All applications and network transactions in the blockchain will require the FLOW currency. The token is also used by validators, developers, and users to participate in the FLOW network and earn rewards. It is also used for fees and to participate in future protocol governance.

How was Flow Launched?
The Flow public sale raised $18M across both the community sale and auction from nearly 13,000 participants.
Phase 1: Community Sale – Community Sale Stats:
• Over 12,500 users committed to participate in the Community Sale committing nearly $9M in funds
• Over 100 Countries are represented
Phase 2: Auction – Auction Stats:
• $9.5M raised
• $0.38 closing price per token
• Over 1,000 bids were submitted (700 successful bidders)
Who are the Team Members behind Flow?

Flow is the product of Dapper Labs, the company behind the CryptoKitties blockchain game.

Led by founders Roham Gharegozlou, Dieter Shirley and Mikhael Naayem, the team developed Flow as a platform for blockchain-based games and digital collectibles.

Previously called Axiom Zen, Dapper Labs unveiled Flow in 2019 after announcing it had raised $11 million in funding led by investor giant A16z.

Dapper Labs underwent a second funding round led by NBA stars Andre Iguodala and Spencer Dinwiddie, intended to be used towards the development of blockchain-based games on Flow.

How to Stake FLOW?

Any account in the network may also participate in staking by delegating their tokens to a node operator. Every node operator in the network is eligible to receive delegations, there is no opting out.

To delegate to a node, a user simply specifies the ID of the node they want to delegate to and the amount of tokens they want to delegate. The tokens are committed and managed in the exact same way that normal staked tokens are managed.

If you created your account using the Flow Port, you can stake and earn rewards using the Flow Port. Flow Port currently supports staking, delegation and reward withdrawal using Blocto and Ledger accounts / wallets.

If you are using a custody provider who controls your account and private keys for you, such as Kraken, Finoa, or Coinlist, they all have different policies and processes for what you need to do to stake your tokens, the rewards you receive, and the fees that they take from your staking rewards.

How much can I earn Staking FLOW?

Rewards are paid at 6:00am PT (14:00 GMT) on Tuesday, every week, to all the users that have tokens staked.

Once distributed, rewards are unlocked and liquid, so they can be transferred at any time. Some custody providers might require extra steps to withdraw user staking reward so please contact your respective provider to get additional information as needed.

The numbers in this table represent the total amount of tokens that are paid as staking rewards at each epoch to the entire pool of participants in the Flow network as a whole. While total staking reward per epoch is known and fixed, individual rewards are variable depending on many factors.

DEC 22	DEC 29, JAN 5, 12, 19, 26	FEB 2 WEEKLY ON TUESDAYS UNTIL DEC 21, 2021	WEEKS 53+
Total Rewards % (Annual)	5%	20%	5%	TBD
Total Rewards Amount Per Week	~1.2M FLOW	~4.4M FLOW	~1.2M FLOW	TBD

What are the Risks to Staking Flow?

Staked funds are placed at risk and can be penalized, or slashed if a validator node is unavailable or acts maliciously.

Flow slashes nodes only for Byzantine acts that directly impact the security and integrity of the network and its shared execution state. Nodes are not slashed for liveness infractions. The protocol reserves slashing for maintaining the security of the protocol rather than its liveness.

Slashing is not currently enforced by the staking contract. It will be handled on a case-by-case basis for the foreseeable future to ensure network participants have time to participate in the testing and rollout of slashing.

When slashing is enforced, slashable protocol violations must be adjudicated by a supermajority of more than 2/3 of the staked consensus nodes in order to take effect. If a node is found guilty of committing a slashable protocol violation, the consensus nodes directly deduct a fine from the node’s stake. Of course, only the remaining stake is deposited back into node’s balance at the end of the unstaking period.