UNIQUENESS OF THE PROJECT FlUX PROTOCOL

3 min readNov 4, 2021

Hello everyone, I continue to introduce you to the Flux Protocol project, the uniqueness of which lies in the fact that it, being independent of the blockchain, creates a decentralized data market for various dApps and provides developers with the opportunity to use its decentralized oracle aggregator on various blockchains without any additional costs.

Flux is written in the open-source RUST programming language and will be launched on NEAR and Solana. In addition, the Flux team promises to deploy EVM support for Layer 1 and 2 by the end of 2021.

It is also important to note that Flux is also an oracle aggregator capable of processing a large stream of data from other oracles, and by comparing these data to choose the most correct outcome of events, thereby eliminating the possibility of hacking. This feature of Flux allows users, regardless of which blockchain they work in, to enjoy all the benefits of a single infrastructure without additional costs and restrictions.

Moreover, Flux Oracle is the first decentralized oracle that allows smart contracts to interact with real events and at the same time ensures that the senders of requests will never receive incorrect data. Since if any of the sources of information give out false data, he will have to pay for it.

Flux Protocol has its own token called $FLX, which binds the Flux ecosystem together, provides its power and security, serves to create Oracle interfaces, manage protocols, and transfer data to the chain.

Flux Protocol has support from major investment and venture funds such as Coinbase Ventures, Distributed Global, CoinFund, Greenfield One, IOSG, and NEAR foundation, which also indicates serious intentions of the project.

Flux Protocol is managed by a decentralized autonomous organization (DAO), which consists of $FLX token holders and plays an important role in the development of the entire ecosystem, as it allows community members to collectively make decisions on protocol management, network security, and integrity, as well as control the quality of projects interacting with Flux Oracle and so on. Moreover, the ability of the community to check protocols before adding them to the whitelist will guarantee that only reliable sources can serve requests on the network.

Any registry participants can send data requests to the network to the validators, they also determine the possible period for challenging these requests by the validators.

To support early-stage projects planning to use Flux Oracle, 5% of the total supply of Flux tokens will be allocated. dApps developers will be able to get unlimited access to the tools they need, support, and most importantly, sponsors.

In conclusion, I would like to note that the Flux Protocol is a truly unique project with an open data infrastructure to create unlimited scalable markets without third-party intermediation, allowing the community to develop customized solutions from synthetic assets and derivatives to insurance and forecasting markets.