Flux Announces LBP on Balancer with Mainnet Launch Details

Flux recently announced its much-awaited Mainnet launch on December 1st, 2021. In addition, the network also released its decentralized oracle to Layer One, Near, to boost next-gen DeFi projects.

The venture is ready to launch its LBP on Balancer to boost community governed and curated operations. Flux understands the importance of oracles in developing blocks for decentralized apps that require real-world information to work.’

It thinks that there is no cost-effective way to secure information released by data providers. The data industry is sophisticated, with several pars and pieces of data moving and interacting differently. Such movements make it almost impossible for businesses to integrate robust solutions without spending hefty finances.

As data manipulation is rising, the market needs a utility token that can build rewards for users who partake in data curation. In addition, the token should penalize users who submit fraud data.

Flux Protocol is developed to make sure that users gain the ability to work as an arbiter. The protocol achieves this by positioning users to invalidate or validate the data’s accuracy presented by the FLX token.

Jasper De Gooijer, Flux Co-Founder, talked about the recent development. Jasper claimed Flux to be the one-of-its-kind oracle design that designs new security models for DeFi. Flux’s launch will be the first instance when DeFi will truly be decentralized. Flux is delighted to work with names like Graph to make sure its entire stack, including the data layer, remains decentralized.

To facilitate such outcomes, Flx will launch its NEAR mainnet on or before November 30th. The mainnet will be completely decentralized from the get-go, requiring request interface and validators to have the FLX tokens for processing and validating requests on the network.

The network will allow any user to spin a validator node on the mainnet without any minimum staking needs to solve data request results prepared by Requests interfaces. With such functionalities on display, Flux is preparing for a packed month.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

Related Articles

Back to top button