About Flurry Finance
Flurry Finance is the governance token of Flurry protocol, originated by Flurry Finance. Flurry is a DeFi protocol offering cross-chain yield aggregation with rhoToken, which is pegged 1:1 to its underlying stablecoin. It automatically farms for yields across different DeFi protocols without locking up funds or interest earned by diversifying DeFi product risk, resulting in lower gas fees.
With a team composed of graduates from Cornell University, Stanford University and Imperial College London, and pedigrees from JP Morgan, Barclays Capital, KBC Financial Products, Daiwa Capital Markets and Societe Generale, Flurry Finance is well-equipped to take the DeFi sector by storm.
Token Basic Information
| Token Name | Flurry Finance |
| Token Symbol | FLURRY |
| Token For Sale | 16,666,666 FLURRY |
| ICO Price | $0.000000 |
| Language | English |
| Soft Cap | $50,000 |
| Personal Cap | 20~50000 USDT |
| Whitepaper | Click Here For View Whitepaper |
| Website | Click Here For Visit ICO Homepage |
Problem
The growth of Decentralized Finance (DeFi) in 2020 was so rapid that many call 2020 to be the year of DeFi. As of now, the total value locked of DeFi protocols stands at over $19 billion. That is almost 20X growth over 11 months. DeFi protocols are offering different ways of generating yield to crypto enthusiasts. With the growth of Defi products, crypto owners are now able to earn decent returns on their holdings. However, the current market landscape has a few pain points that need to be
addressed:
Fragmented
Different DeFi products generates different yield and each one of them has a different mechanism of generating yield. The mechanism involved is not easy to understand without certain technical background. The risk involved also varies across different products.
High Gas Cost
With the rapid rise of DeFi, the Ethereum network is congested. Ethereum transaction fees have shot up to new highs in early 2021. The high gas fee is not cost justified for users to move small amounts in and out of different DeFi products.
User Experience
The user experience of DeFi products is not friendly. The process of participating in different yield farming products such as providing liquidity in liquidity pools or supplying tokens in lending protocol is not convenient to use. It also requires technical knowledge to understand the yield generation mechanism of different products.
Solution
FLURRY issues rhoTokens which are backed by stablecoins and searches for the best transaction fee adjusted yield for your backing stablecoins. With rhoTokens, users do not need to go through the tedious process of locking/ unlocking and switching in and out of different DeFi products to generate yield. FLURRY will do everything for you automatically and continuously. The process is transparent to users and users will see their wallet balance growing to reflect the interest earned. Since rhoToken is pegged 1:1 to the underlying stablecoin, rhoTokens have the same value of the underlying stablecoins and can thus be used as a medium of exchange.
Stablecoin
A cross-chain token with all the goods of a stablecoin plus continuous yield farming. No more Lock-Up! No more tedious process of locking/unlocking and switching in and out of DeFi products to generate yield! Flurry will do everything for you automatically and continuously.
Convenient
FLURRY provides a nice user interface and gives users a clear picture of how and how much interest is earned. All users have to do is to hold the rho Tokens and wallet balance will grow automatically to reflect the interest earned. The whole yield generation process is fully automated and transparent to the user.
Flexible
The price of rhoToken is pegged 1:1 to the underlying stablecoin. As a result, rhoTokens can be spent the same way as the underlying stablecoin. Users do not have to redeem their rhoTokens before they use their fund. In other words, no more Lock-Up.
Cross Chain
Current yield aggregators are limited to Ethereum based products, while FLURRY is targeting to work cross chain to look for the best yield after taking into consideration the transaction cost on different chains.
Funds Locked Up
Users get back deposit token (which is like a receipt of deposit) when depositing their fund in different DeFi products. Since the deposit tokens have a changing value with the accrued interest, the tokens cannot be used as a medium of exchange and thus users have their fund locked up while earning interest. Users have to unlock their fund when they want to use it and that incurs a cost.
The Governance Token
The FLURRY Token (FLURRY) is the governance token of the FLURRY Protocol. FLURRY will begin with centralized control of the protocol (such as adding/ removing new types of yield-farming strategies, assigning risk factorsto different strategies, etc) and migrate to complete community and stakeholder control over time
Founders of Flurry
Flurry Finance was co-founded by Mike Ting and Lawrence Wong. The team consists of crypto and fintech veterans whose experience and educational background include JP Morgan, Societe Generale, Barclays Capital, Stanford University, Cornell University and Imperial College London.
Mike Ting graduated with a bachelor degree in Computer Science from Cornell University and a master degree from Stanford University. It was an equity derivatives trader at investment banks such as JP Morgan and Societe Generale and also a serial entrepreneur. Impressed with the blockchain technology, he entered the crypto space in 2018 and aimed to recreate existing traditional financial services in a decentralized way using blockchain.
Lawrence Wong graduated with a Master Degree in Software Engineering from Imperial College. With a rich experience as a Derivatives Trader, Lawrence Wong has previously served as Director at Daiwa Capital Markets and KBC Financial Products. It was also a Trading Systems Developer at Barclays Capital Markets. The co-founded a low latency algorithmic trading firm and was an experienced derivatives trader. He is a Blockchain and Crypto Enthusiast.
Conclusion
With the growth of the Defi space and cross chain interoperability, they believe the traditional interest rate model will be replaced by a much more cost effective and efficient model implemented in DeFi. FLURRY strives to make the whole process of yield generation easy and convenient to everyone.
Disclaimer:
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