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flexUSD (FLEXUSD)FLEXUSD
$0.218948
flexUSD (FLEXUSD)
FLEXUSD Price
$0.218948
Rank
—
Market Cap (24H)
$42.99M
Volume (24H)
Unknown
Circulating Supply
196,350,223
Transp. Vol.
Grade
1H1D1W1M1Y
flexUSD logo
FLEXUSD
United States Dollar logo
USD
ETH0xa774f...535e6f3
ETH
Verify address & DYOR
Contract
ETH0xa774f...535e6f3
ETH
Verify address w/ multiple resources & DYOR
Blockchain
Categories
Website https://coinflex.com
CommunityTwitterTelegramGithubMedium
Being a crypto-collateralized digital asset backed by the stable coin USDC in the reserves of the issuing cryptocurrency...Read more

flexUSD Price (FLEXUSD)

FLEXUSD Daily Performance

As of today, the last reported FLEXUSD price is $0.218948. flexUSD's last market cap was $42.99M. 24 hour FLEXUSD volume is unknown. It has a market cap rank of unknown with a circulating supply of 196,350,223 and max supply of 196,350,223. flexUSD is traded on exchanges. flexUSD had an all-time high of $8.8963 3 months ago. Over the last day, flexUSD has had 0% transparent volume and has been trading on 8 active markets with its highest volume trading pairs being .

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flexUSD Statistics

flexUSD Price (24hr)$0.218948 (0.00%)
Market Cap$42.99M
Trading Volume (24hr)Unknown
Transparent Vol. (24hr)
Unknown
Transparency GradeUnknown
Circulating SupplyUnknown
All-Time High
$8.8963-97.54%
7D Price Prediction
N/A

Price

$0.218948
Price ChangeUnknown

All-Time High

$8.8963
Date of ATH
Days Since ATH
% of ATH2.46%
Price vs ATH

Market Cap

$42.99M
Mkt Cap ChangeUnknown
Mkt Cap Rank
Mkt Dominance
Mkt Dominance

About flexUSD

Being a crypto-collateralized digital asset backed by the stable coin USDC in the reserves of the issuing cryptocurrency exchange CoinFLEX, flexUSD positions itself as the world’s first interest-earning stablecoin. It pays interest on-chain every 8 hours wherever token owners hold their assets, in a hot wallet or in cold storage.

CoinFLEX exchange

Founded in February 2019 by two cryptocurrency enthusiasts Mark Lamb and Sudhu Amurugam, the company is officially registered in Seychelles. The platform is owned by a group of individuals and companies including Roger Ver, a famous American entrepreneur and CEO of Bitcoin.com.

In August 2019, the company conducted a fundraising round having attracted a few VC investors including Polychain, NGC Ventures, Fenbushi, and Struck Capital. In addition, the company mentions a few other investors on its website, such as Digital Currency Group, Electric Capital, Nascent Futures, and, of course, Roger Ver. According to Crunchbase, the total funding amount obtained from private investors makes up $11,3 million USD. Apparently, the sum was sufficient as the company didn’t hold any ICO afterward.

After the fundraising was accomplished, CoinFLEX launched an incentive program with a total reward fund of $250,000 offering rebates to the companies trading on the platform with the goal to increase its daily trading volumes. As a result, three companies signed up while CoinFLEX was still targeting to onboard seven market makers more.

What makes CoinFLEX different

In its whitepaper, CoinFLEX lists some of the key disadvantages inherent to centralized exchanges. These are KYC processes that slow down the onboarding process, counterparty risk as exchanges can lose users’ funds, account closure that US citizens suffer from in particular, hacking attempts, and bankruptcy.

To address these issues, CoinFLEX builds out a Decentralized Clearing and Custody setup enabling users to sign up with their Metamask wallets and trade on the platform without having to pass any KYC procedures or risking funds loss. At the same time, trading still remains orderbook-based and matches orders on cloud servers owned by CoinFLEX. However, the company won’t be able to monopolize withdrawals as customers store funds on a smart contract that is not controlled by CoinFLEX or any single party.

CoinFLEX products and services

CoinFLEX founders focus on providing its users with money-making tools that would be independent of the influence of any third party, including the platform itself. With that said, it offers the following set of products to address their requirements.

AMM+. CoinFLEX combines Automated Market Making with orderbooks and futures. As it relies on the concepts introduced by Uniswap and other DeFi exchanges, it enables its users to deploy their capital into AMM strategies resulting in the overall democratization of the process.

FLEXDAO. CoinFLEX considers the creation of a DAO (Decentralized Autonomous Organization) as the logical evolution of its initial idea. Eventually, the company intends for this product to govern all other elements of its ecosystem.

FLEXDAO Time Lock. Similar to Curve.Fi’s DAO staking model, CoinFLEX plans to give its users various time preference options, ranging from two weeks to four years. Thus, users will be able to withdraw any kind of LP token they stake but time-locked FLEX coins will remain within the smart contract until the end of the staking period.

SmartBCH. To address the problems of the Ethereum network such as low throughput, the lack of interoperability, and high gas fees, CoinFLEX has launched a special smart contract SmartBCH which combines the benefits of Bitcoin, Bitcoin Cash, and Ethereum. SmartBCH while running on the secure Proof of Work consensus mechanism, makes it possible to process many operations in parallel, thus contributing to the speed, efficiency, and cost of transactions.

FLEX Coin. This utility token powers the CoinFLEX ecosystem providing its holders with exclusive benefits such as lower reading fees and higher referral payouts.

flexUSD. To help cryptocurrency investors make high and stable profits, CoinFLEX has issued a crypto-collateralized stablecoin flexUSD that pays holders interest on-chain every 8 hours. What makes it special is the fact that investors get their rewards regardless of the location where they keep their funds. They may store them on a cold-storage wallet, in a dApp, or on another exchange. The interest will be paid in any case. In a blog post devoted to flexUSD, the company states that flexUSD’s 7-day average APY was as high as 21.21% and even hit 114.49% on September 8th, 2021. The company proves the transparency of rewards on a dedicated page on its website. At the time of writing, the average reward is as high as 7.5% per year which is still higher in comparison to the interest that investors can earn in traditional finance.

The coin acts as an ERC-20 token while being compatible with the BCH network vial Simple Ledger Protocol and SmartBCH (SEP20). The company also plans to add flexUSD across other chains such as TRON, EOS, Polkadot, and more. To provide the stability of the token, the company claims to back it with another stable coin USDC, though it doesn't disclose any specifications of how the process works.

flexUSD team and partners

As mentioned earlier, the company was founded by two digital entrepreneurs and cryptocurrency enthusiasts Mark Lamb and Sudhu Amurugam. Lamb has extensive experience in the IT area as prior to founding CoinFLEX, he was also the CEO of a few other startups such as Zeltor Technology Solutions, an IT consulting firm based in Los Angeles, and Rewardr, a mobile app helping its users get rewards in virtual currency by scanning their receipts. In 2013, he founded Coinfloor, a group of cryptocurrency exchanges, that later evolved into CoinFLEX.

Amurugam acted as a partner of reputable hedge funds like Sequoia Capital and Cusaru Capital. At Coinfloor, he took the role of Chief Risk Officer and continued holding the same position in CoinFLEX as well.

In November 2021, CoinFLEX partnered with Copper.co, a leading digital asset and trading solutions provider, with the goal to integrate flexUSD into Copper’s trading network ClearLoop.

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flexUSD Markets

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flexUSD Historical Data

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Today's FLEXUSD / flexUSD News for December 3, 2022

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