2022-05-11 22:41:23
$SYA is turning 1 today
What happens next?
What started out as a joke and a meme lead us to building an amazing community of Web3 enthusiasts. We have shared blood, sweat and tears together. We’ve seen the highest highs and the lowest lows. We have made mistakes. We have learned from them. We have developed amazing software. We have built Flooz.Trade, a multi-chain social decentralized exchange. We have built Flooz.Link, a creator platform. We have built Gen-F, beautiful art and our debut into the metaverse. We have built SuperKey Apps for Discord, a powerful Web3 authentication tools and are on the verge of releasing SuperKey Apps for Shopify. We have done so much more, and all of it in 365 days!
Giving the success of Flooz.Trade, we have decided to focus our product development efforts on building out our exchange platform and the wallet. We are creating a place where you can discover and trade exciting new projects, both as ERC20 tokens but also ERC721 (NFTs). We are creating a place where you and your frens can GM and hangout. We are creating a true multi- and cross-chain offering that works on Ethereum, Polygon and Binance Smart Chain. We are creating an ecosystem that rewards you for your time and engagement. We are creating an ecosystem that is driven by you and one that turns you into an owner and shareholders of the ecosystem.
That’s why we decided to use the $SYA migration to think bigger and built out the Flooz DAO (decentralized autonomous organisation). The DAO will be powered by the $Flooz token. It will enable and incentivize Web3 developers and entrepreneurs to build their products and businesses on top our multi-chain infrastructure. When they grow, our entire ecosystem and $Flooz grows too — learn more here: https://docs.flooz.trade.
Given that it’s $SYAs birthday today, we want to transparently share an update on where we stand with the DAO and the token migration. Over the last months, @FabianBlt with the support of @nico.eth and our team of lawyers have spearheaded this project and today, we have some good news to share with you. The FINMA, official regulator of the financial markets (like the SEC in the US), just confirmed to us that the FLOOZ Token will be considered a utility token. We are incredibly happy about this classification and excited to take the next steps! Having a ruling with a classification into a utility token is powerful as it opens a wide array of new opportunities for the entire ecosystem.
That being said - we still have some steps ahead of us before we can launch the migration. We are currently working on finalizing some legal topics, ironing out the token and token migration contracts, as well as setting up the final logic for the token distribution. We will update you on our progress, so stay tuned
Overview
- Phase 1: Definition of setup, Tokenomics and Token Migration
- Phase 2: Legal & tax review of proposed setup
- Phase 3: Adaptation of setup and pot. application for legal rulings construction
- Phase 4: Smart contract token migration $SYA to $FLOOZ (parallel to phase 3)
- Phase 5: Setup of the Flooz DAO Association in Switzerland legal entity (already in progress)
- Phase 6: Token launch & migration
We’ve been on this ride for 1 year.
We will also be here decades from now.
We are committed to this community.
We are committed to our vision and can’t wait to turn our collective dreams into reality.
Thank you all for being part of this journey.
It means the world to us.
We love you!!!
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