$FLT - Funding led by Multicoincap Unleashes zkML, 30D Accumulation
Leading a new narrative: zkML and well positioned in the DePin and AI space.
A $FLT model; building on the economics of their stake to compute system.
A detailed mathematical breakdown of @fluence_project, bull case and node rewards
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@fluence_project is a blockchain-powered computing service marketplace and decentralized computing platform #DePin
Solution
- Fluence saves costs: In the Fluence network, computing resource providers compete to offer the best price and performance
- Enhanced security: Fluence integrates cryptographic security measures into the computing process
- Create redundant networks: Automatically create subnets for each application, ensuring there are always copies available whenever developers request them. This helps reduce dependence on the service provider, when there is a problem, there is already a copy.
- Quick access to Filecoin: Users can access Filecoin storage and make withdrawals quickly.
Investors
2018 raised capital of 6M
2022 SeriesA 9M lead funding round by Multicoin Capital
April 2024 Public Sale on Bybit raises $150,000
Team: The team is people with a lot of experience and expertise, who have developed the project from 2017 to present.
Tokenomics
Initial circulation supply 5% => Low, little selling force
5% bonus for early developers starting to unlock from April 27
Rewards paid to CPU suppliers are calculated from March 20 and locked for 3 months => June 20
In addition, all team and investor tokens ~45% will be locked until February 2025 and paid in daily installments until February 2026.
What is token $FLT used for?
The Fluence model runs on the $FLT token, which secures hardware and compute jobs.
• Compute Providers earn FLT for resource contribution and payments in stablecoins.
• Customers pay in stablecoin, ensuring stability.
• Delegators stake FLT on hardware for rewards.
Rewards Calculation
- Compute vendor rewards. On average, each core receives $10/month. Rewards will be vested daily after 6 months.
- Provider stake $FLT for each contributing CPU. This amount $FLT ensures responsibility and reputation in the network. The protocol's target is 200 USD per core, for example a typical 64 core CPU server will need to stake 200x 64 = 12,800 USD
- Voting in DAO
Project potential - Market size
In general, the more GPU cores contributed to the Fluence protocol, the more $FLT stakes required. So as the protocol expands, growth in network capacity will create strong demand to buy $FLT to join the network.
At launch, Fluence has 250,000 CPU cores, waiting list of 600,000 cores ⇒ To deploy all this hardware requires 170 million USD ⇒ huge demand $FLT to stake
AWS has over a hundred data centers and only one of their data centers has 50,000 CPUs (over 3 million cores). When Fluence reaches that scale, $600 million in deposits will be needed $FLT . The total network AWS has about 2 million CPUs or 128 million cores, with Google and Microsoft both operating on a similar scale.
⇒ Flucence aggregates CPU resources from leading data centers around the world, creating a wide and stable DePin network through Filecoin's ICP
Personal review
Fluence has a new technology story: zkML
DePin + AI project, two extremely potential fields this season
The team has experience and expertise, having been a key member of many large projects from web2
Small cap is still small at 50M, big unlock will start in 2025 ⇒ Low discharge force, high price increase potential.
The staking mechanism helps increase demand $FLT to join the network
The wave DePin has just been pushed forward so it needs to accumulate for a while
I am personally invested in $FLT and will continue to DCA around 0.7 to 0.9