👀Flat Money Points (FMP)
Earn Flat Money Points (FMP) by participating in the Flat Money markets. FMP will also be allocated in future seasons to ecosystem partners who align with Flat Money’s mission to create better onchain money with LST collateral.
Flat Money Points (FMP)
As Flat Money gains adoption, we want to reward early users and aligned-ecosystem participants with Flat Money Points (FMP). Our points program is completely onchain—anyone can see the current supply of FMP by reviewing the smart contract on Basescan.
On this page, we provide an overview of our points program and answer commonly asked questions.
FMP Fair Launch
The FMP distribution will be a fair launch, which means everyone has the same opportunity to earn FMP by contributing to the Flat Money ecosystem.
Our team hasn’t raised any funds. There are no VCs in Flat Money and no outside investors who are getting better terms than you. Anyone who earns FMP is subject to the same 12-month vesting period. For the FMP distribution, 100% of the supply will be allocated to the community.
In the future, FMP will convert to Flat Money’s native token. Learn more about the FMP allocation and the Future Utility for FMP below.
FMP Seasons Series
We will be distributing FMP throughout a series of seasons, some of which have previously been announced in The Flat Money Points (FMP) Seasons Series post on our blog.
In the FMP Allocation section, we outline allocations to some upcoming and soon to be announced seasons. Keep an eye on our Twitter and Farcaster accounts for more information on our upcoming seasons.
FMP Allocation
Below you can find an overview of the points we’ve allocated to early ecosystem participants, early depositors, early adopters, and FMP seasons. All FMP will be made available to anyone who participates in the Flat Money ecosystem. If you earn FMP, you will be able to see your FMP allocation and your current vested balance on the Points page in the Flat Money dApp.
The only exception is the Flat Money Early Depositor Vault on Toros Finance. If you participated in the Early Depositor Vault, you can see your FMP allocation in the Toros dApp.
The total allocation shown for each activity is dependent on activity. In the event that participation in a given season or activity is low, the total allocation may not be distributed and the total supply of FMP may be lower than projected.
More FMP may be allocated to future incentive programs. However, there is a cap on the total FMP that will ever be minted and allocated for incentives.
In total, no more than 100m FMP will be minted and distributed during Flat Money’s points program.
FMP Vesting
Everyone who earns FMP through the Flat Money Points program will be subject to a 12-month vesting period. The Flat Money team has chosen a vesting schedule to reward long-term aligned Flat Money users with a greater portion of FMP and prevent short-term airdrop farmers who are looking to simply claim and sell their tokens immediately.
If FMP is claimed before the one-year vesting period is complete, then a user will forfeit a percentage of their total claimable FMP. Again, this is designed to penalize short-term farmers and reward long-term aligned community members.
If someone claims their FMP early and forfeits a percentage of their FMP, that amount of FMP will be allocated to the dHEDGE treasury, which can be used for Protocol Owned Liquidity (POL), community grants, or future incentives for long-term aligned Flat Money users.
Example: If you earn 100 FMP in March 2024 and unlock your FMP 6 months later, you will receive 50 unlocked FMP and 50 FMP will be forfeited to the treasury. If instead you unlocked your FMP after the full one-year vesting period has passed, you will unlock the full 100 FMP and will not forfeit any points.
Future Utility for FMP
In the future, people will be able to convert FMP into Flat Money’s native token. The native token will not be a governance token. Instead, it will be a utility token that you can stake. The staked token will be eligible to earn a percentage of trading fees, but a certain percentage of the total supply will need to be staked before the fee switch mechanism is activated.
There will be more information about Flat Money’s native token in the future.
Common Questions
Does Flat Money have any VCs?
Flat Money has no VCs and has not conducted any raises. The only way to earn FMP is to participate in the protocol or within our ecosystem. This applies to everyone, even the Flat Money team.
What is the total Flat Money Points (FMP) supply?
We’ve ensured that no more than 100m FMP will ever be minted. Currently, there’s ~50m FMP allocated to existing seasons and incentives programs with 20m additional FMP earmarked for future seasons and incentives that have yet to be announced.
However, the total supply may be less than the total cap. We’ve instituted the cap so our users understand the limits of the program.
Where can I see my current FMP allocation?
If you’ve earned FMP, you can see your Points allocation and current vesting status in the Flat Money dApp on the Points page.
I participated in the Early Depositor Vault on Toros Finance. Where can I see my FMP allocation for the Early Depositor Vault?
If you contributed to the Flat Money Early Depositor Vault, you can see your FMP allocation in the Toros Finance dApp.
Can I claim a portion of my FMP and withdraw the rest later?
When you claim your FMP, you are withdrawing your vested allocation and forfeit any remaining allocation that has yet to fully vest. You can see a notice in the dApp of how much FMP you will forfeit if you claim before the 12-month vesting period is complete.
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