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	0.03311USDT	-3.52%	33,034,774.99FLOW	20,213	0.03433USDT	0.03511USDT
2	FLOW-USDT FLOW-USDT	okex	A	0.03311USDT	-3.47%	4,005,467.17FLOW	2,602	0.03429USDT	0.03510USDT
3	FLOW-USD FLOW-USD	coinbase	AA	0.03307USD	-3.45%	2,155,184.88FLOW	404	0.03425USD	0.03499USD
4	FLOW-USDT FLOW_USDT	whitebit	BB	0.03311USDT	-3.53%	2,168,677.04FLOW	10,933	0.03432USDT	0.03512USDT
5	FLOW-USD FLOWUSD	kraken	AA	0.03309USD	-3.22%	1,704,232.50FLOW	419	0.03420USD	0.03500USD
6	FLOW-USDT FLOWUSDT	bybit	A	0.03305USDT	-3.84%	1,659,478.65FLOW	1,794	0.03437USDT	0.03512USDT
7	FLOW-USDT FLOW_USDT	gateio	A	0.03309USDT	-3.47%	990,457.00FLOW	817	0.03429USDT	0.03506USDT
8	FLOW-EUR FLOWEUR	kraken	AA	0.02950EUR	-3.28%	618,672.98FLOW	525	0.03050EUR	0.03110EUR
9	FLOW-BTC FLOW_BTC	whitebit	BB	0.0₆3900BTC	-7.14%	374,392.47FLOW	42	0.0₆4200BTC	0.0₆4200BTC
10	FLOW-EUR FLOW_EUR	whitebit	BB	0.02949EUR	-3.85%	280,030.56FLOW	746	0.03067EUR	0.03141EUR
11	FLOW-USDT FLOW-USDT	kucoin	BB	0.03300USDT	-3.79%	225,327.82FLOW	649	0.03429USDT	0.03510USDT
12	FLOW-USD FLOW_USD	cryptodotcom	AA	0.03288USD	-3.41%	50,932.40FLOW	67	0.03404USD	0.03500USD
13	FLOW-USDC FLOW-USDC	okex	A	0.03315USDC	-1.40%	29,005.68FLOW	18	0.03361USDC	0.03465USDC
14	FLOW-USDT FLOWUSDT	cexio	BB	0.03318USDT	-7.42%	24,463.94FLOW	5	0.03584USDT	0.03584USDT
15	FLOW-USDT FLOW_USDT	cryptodotcom	AA	0.03345USDT	-2.11%	18,951.80FLOW	8	0.03417USDT	0.03488USDT
16	FLOW-EUR FLOW-EUR	okex	A	0.02998EUR	-1.90%	18,459.25FLOW	14	0.03056EUR	0.03057EUR
17	FLOW-USD FLOWUSD	cexio	BB	0.03343USD	-1.08%	900.60FLOW	1	0.03380USD	0.03380USD
18	FLOW-USDT flow_usdt	lbank	C	0.03309USDT	-3.47%	8,356,862.33FLOW	4,466	0.03428USDT	0.03509USDT
19	FLOW-USDT flow_usdt	xtpub	-	0.03313USDT	-3.41%	6,487,769.26FLOW	5,418	0.03429USDT	0.03511USDT
20	FLOW-USDT FLOWUSDT	bitrue	D	0.03311USDT	-3.33%	4,544,109.71FLOW	6,809	0.03426USDT	0.03511USDT
21	FLOW-TRY FLOWTRY	btcturk	E	1.63TRY	-3.55%	3,228,653.46FLOW	295	1.69TRY	1.73TRY
22	FLOW-USDT FLOW_USDT	bydfi	-	0.03309USDT	-3.50%	2,734,331.45FLOW	2,450	0.03429USDT	0.03510USDT
23	FLOW-USDT FLOW_USDT	bitunix	C	0.03309USDT	-3.58%	2,110,395.74FLOW	7,863	0.03432USDT	0.03510USDT
24	FLOW-USDT FLOW-USDT	bingx	D	0.03322USDT	-2.95%	1,848,496.81FLOW	8,433	0.03422USDT	0.03521USDT
25	FLOW-USDT FLOWUSDT	mexc	C	0.03309USDT	-3.53%	1,823,586.38FLOW	3,041	0.03429USDT	0.03505USDT
26	FLOW-USDT FLOWUSDT	btcturk	E	0.03309USDT	-0.60%	842,315.06FLOW	39	0.03330USDT	0.03490USDT
27	FLOW-EUR FLOWEUR	bit2me	B	0.02950EUR	-3.28%	617,170.85FLOW	524	0.03050EUR	0.03110EUR
28	FLOW-KRW flow_krw	korbit	C	44.66KRW	0.36%	523,591.61FLOW	90	44.50KRW	47.18KRW
29	FLOW-USDT flow_usdt	digifinex	D	0.03320USDT	-3.21%	185,053.26FLOW	1,374	0.03429USDT	0.03510USDT
30	FLOW-USDT FLOWUSDT	binanceusa	B	0.03311USDT	-2.70%	51,185.60FLOW	30	0.03403USDT	0.03477USDT
31	FLOW-USDT flowusdt	huobipro	C	0.03300USDT	-5.56%	52,209.20FLOW	156	0.03494USDT	0.03542USDT
32	FLOW-THB THB_FLOW	bitkub	C	1.11THB	-0.63%	19,200.57FLOW	15	1.12THB	1.16THB
33	FLOW-USDT FLOWUSDT	hitbtc	E	0.03320USDT	4.40%	10,403.70FLOW	4	0.03180USDT	0.03330USDT
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	5.41%	0.5980FLOW	2	0.0₆3700BTC	0.0₆3900BTC
38	FLOW-USDT FLOW-USDT	coinbase	AA	0.1100USDT	0.00%	0FLOW	0	0.1100USDT	0.1100USDT