Question 1

What is Flow Token (FLOW)?

Accepted Answer

The Flow token is the native cryptocurrency of the Flow blockchain, which is designed to support scalable and decentralized applications, including games, collectibles, and other digital assets. The token serves several purposes within the Flow ecosystem, including as a means of payment for transaction fees, staking rewards for validators, collateral for secondary tokens, and as a form of on-chain governance.

One of the key features of the Flow token is its ability to support complex smart contracts and applications that require high throughput and low latency. To achieve this, the Flow network uses a unique architecture that separates computation and storage into separate layers, allowing for more efficient processing and improved performance.

In addition to its technical capabilities, the Flow token is designed to be accessible and easy to use for developers and end-users alike. To help onboard new users and developers onto the network, Flow offers a minimum balance requirement for storage that can be provided by developers on behalf of their users, or borrowed from the community through decentralized crowdfunding.

Overall, the Flow token is a critical component of the Flow ecosystem, serving as a means of exchange, store of value, and governance mechanism for a wide range of decentralized applications and services. As the network continues to evolve and grow, the Flow token is expected to play an increasingly important role in supporting innovation and creativity across a broad range of industries and use cases.

Question 2

For What is Flow Token Used For?

Accepted Answer

The Flow token is used for a variety of purposes within the Flow ecosystem, including:

* Transaction fees: FLOW is used to pay for transaction fees on the network, similar to how gas is used on the Ethereum blockchain.

* Network governance: FLOW is used to participate in network governance, where token holders can vote on proposals to change the protocol or allocate resources from the ecosystem reserve.

* Staking rewards: Validators on the network are rewarded with FLOW for processing transactions and securing the network.

* Secondary tokens: Some service protocols built on top of the Flow blockchain use infused tokens, which are backed by FLOW and can be used to participate in protocol governance.

Question 3

Stablecoins on Flow:

Accepted Answer

The Flow blockchain supports the creation of stablecoins, which are cryptographic tokens whose value is pegged to a stable asset such as a fiat currency or a basket of currencies. The blockchain supports two types of stablecoins:

* Fiat-backed stablecoins: These are fungible tokens whose supply is based on an equivalent amount of fiat currency available for redemption, typically in an audited bank account. Holders of fiat-backed stablecoins still require a minimum balance of FLOW.

* Algorithmic stablecoins: These stablecoins use FLOW token as collateral to create a secondary token whose supply is adjusted automatically to stabilize its value relative to given fiat currencies. The Flow ecosystem has reserved a significant allocation of FLOW tokens to bootstrap the collateral for at least two implementations of algorithmic stablecoins on the network whose security is rooted in the native FLOW token itself.

Question 4

Who Created Flow?

Accepted Answer

Flow was created by Dapper Labs, a company that specializes in blockchain-based games and digital collectibles. The company was founded by Roham Gharegozlou, Dieter Shirley, and Mikhael Naayem.

Dapper Labs, previously known as Axiom Zen, introduced Flow to the public in 2019 after raising $11 million in funding led by the venture capital firm A16z.

The company later conducted a second funding round, which was led by NBA stars Andre Iguodala and Spencer Dinwiddie. The funds raised in this round were intended to be used for the development of blockchain-based games on the Flow platform.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	FLOW-USDT FLOWUSDT	binance	AA	0.03243USDT	5.50%	29,355,979.17FLOW	19,605	0.03074USDT	0.03317USDT
2	FLOW-USDT FLOW_USDT	whitebit	BB	0.03248USDT	5.83%	3,372,770.84FLOW	14,586	0.03069USDT	0.03320USDT
3	FLOW-USDT FLOW-USDT	okex	A	0.03243USDT	5.53%	3,119,342.27FLOW	1,703	0.03073USDT	0.03314USDT
4	FLOW-USD FLOW-USD	coinbase	AA	0.03236USD	5.41%	1,759,938.24FLOW	380	0.03070USD	0.03309USD
5	FLOW-USDT FLOWUSDT	bybit	A	0.03237USDT	5.44%	1,403,825.25FLOW	1,817	0.03070USDT	0.03311USDT
6	FLOW-USD FLOWUSD	kraken	AA	0.03240USD	5.19%	1,304,710.09FLOW	501	0.03080USD	0.03300USD
7	FLOW-USDT FLOW_USDT	gateio	A	0.03241USDT	5.53%	915,300.00FLOW	832	0.03072USDT	0.03318USDT
8	FLOW-BTC FLOW_BTC	whitebit	BB	0.0₆4000BTC	5.26%	367,950.09FLOW	44	0.0₆3800BTC	0.0₆4100BTC
9	FLOW-EUR FLOW_EUR	whitebit	BB	0.02869EUR	4.59%	363,939.56FLOW	806	0.02743EUR	0.02932EUR
10	FLOW-EUR FLOWEUR	kraken	AA	0.02870EUR	7.09%	283,445.78FLOW	45	0.02680EUR	0.02940EUR
11	FLOW-USDT FLOW-USDT	kucoin	BB	0.03240USDT	5.88%	131,845.11FLOW	550	0.03060USDT	0.03320USDT
12	FLOW-USDT FLOW_USDT	cryptodotcom	AA	0.03291USDT	9.85%	68,628.60FLOW	12	0.02996USDT	0.03308USDT
13	FLOW-USD FLOW_USD	cryptodotcom	AA	0.03255USD	9.52%	32,720.70FLOW	84	0.02972USD	0.03305USD
14	FLOW-EUR FLOW-EUR	okex	A	0.02924EUR	10.34%	15,745.92FLOW	24	0.02650EUR	0.02924EUR
15	FLOW-USDC FLOW-USDC	okex	A	0.03177USDC	5.83%	1,044.56FLOW	3	0.03002USDC	0.03177USDC
16	FLOW-USD FLOWUSD	cexio	BB	0.02969USD	0.00%	0FLOW	0	0.02969USD	0.02969USD
17	FLOW-USDT FLOWUSDT	cexio	BB	0.02968USDT	0.00%	0FLOW	0	0.02968USDT	0.02968USDT
18	FLOW-USDT flow_usdt	lbank	C	0.03239USDT	5.44%	7,506,875.98FLOW	4,693	0.03072USDT	0.03314USDT
19	FLOW-USDT FLOWUSDT	bitrue	D	0.03238USDT	5.27%	3,585,903.38FLOW	6,274	0.03076USDT	0.03317USDT
20	FLOW-TRY FLOWTRY	btcturk	E	1.60TRY	5.68%	3,740,575.08FLOW	355	1.51TRY	1.64TRY
21	FLOW-USDT flow_usdt	xtpub	-	0.03241USDT	5.50%	3,029,822.16FLOW	2,578	0.03072USDT	0.03317USDT
22	FLOW-USDT FLOW_USDT	bydfi	-	0.03240USDT	5.54%	2,449,192.67FLOW	2,159	0.03070USDT	0.03309USDT
23	FLOW-USDT FLOW_USDT	bitunix	C	0.03237USDT	5.30%	2,116,780.87FLOW	7,715	0.03074USDT	0.03317USDT
24	FLOW-USDT FLOWUSDT	mexc	C	0.03243USDT	5.43%	2,032,803.94FLOW	2,970	0.03076USDT	0.03311USDT
25	FLOW-USDT FLOW-USDT	bingx	D	0.03264USDT	6.04%	1,662,806.44FLOW	7,107	0.03078USDT	0.03327USDT
26	FLOW-EUR FLOWEUR	bit2me	B	0.02870EUR	7.09%	283,445.78FLOW	45	0.02680EUR	0.02940EUR
27	FLOW-USDT FLOWUSDT	btcturk	E	0.03280USDT	10.07%	221,859.83FLOW	13	0.02980USDT	0.03300USDT
28	FLOW-USDT flow_usdt	digifinex	D	0.03250USDT	6.21%	155,897.19FLOW	640	0.03060USDT	0.03309USDT
29	FLOW-KRW flow_krw	korbit	C	47.42KRW	16.57%	80,137.46FLOW	27	40.68KRW	47.42KRW
30	FLOW-THB THB_FLOW	bitkub	C	1.08THB	5.86%	31,311.38FLOW	10	1.02THB	1.10THB
31	FLOW-USDT flowusdt	huobipro	C	0.03220USDT	6.35%	12,434.84FLOW	38	0.03028USDT	0.03280USDT
32	FLOW-USDT FLOWUSDT	hitbtc	E	0.03320USDT	0.00%	0FLOW	0	0.03320USDT	0.03320USDT
33	FLOW-USDT FLOWUSDT	binanceusa	B	0.03281USDT	22.56%	1,650.25FLOW	4	0.02677USDT	0.03281USDT
34	FLOW-USDT FLOWUSDT	coinex	C	0.02982USDT	0.00%	0FLOW	0	0.02982USDT	0.02982USDT
35	FLOW-BTC FLOWBTC	coinex	C	0.0₆3651BTC	0.00%	0FLOW	0	0.0₆3651BTC	0.0₆3651BTC
36	FLOW-USDC FLOWUSDC	coinex	C	0.03014USDC	0.00%	0FLOW	0	0.03014USDC	0.03014USDC
37	FLOW-BTC FLOWBTC	hitbtc	E	0.0₆3900BTC	0.00%	0FLOW	0	0.0₆3900BTC	0.0₆3900BTC
38	FLOW-USDT FLOW-USDT	coinbase	AA	0.1100USDT	0.00%	0FLOW	0	0.1100USDT	0.1100USDT