As we near year's end, one may find themselves reflecting back to where they once were.. the many hurdles they’ve since overcome.. and finally refocusing their aim, in an effort to achieve the yet unattained..

Before all of this, however.. one should first contemplate where they are right now :)

Climbing Everest

As any experienced climber surely knows.. the path from lower base camp to the summit, is not a straight ascent. The mathematical certainty, however, means that with every strategic push vertically, one is at least brought closer to it – even if only temporarily so.

With energy reserves limited, even the most experienced mountaineer will make the most precisely calculated decisions in this regard. Does one take the ‘harder’ route, and if so, then why? Perhaps after the next ascent, will come a rapid descent?.. But what if.. that is then followed by a final push toward the peak?!

Flits faces these probing questions on pretty much a daily basis. Sometimes, we do veer of course a little. But we then check our compass and re-evaluate. This - all in an effort to plant out flag, with some of the more prominent in the ‘wild wild’ crypto space.

Today though, we stand sturdy. Over 3900 masternodes! More than 100 coins listed! Combined value of user wallets estimated to be well over 200 BTC! Truly head turning material – undeniably so in fact!

As we’ve mentioned previously, none of this would be possible without you – our most loyal community. You have stuck by us through thick and thin. We are so grateful to have such vibrant individuals associated with us. Thank you. Thank you. Thank you.

In the ‘Backpack’

As highlighted earlier, we are indeed blessed with an extremely loyal community. We recognise too, that they are instrumental in helping us determine our very course – with regards to the development of the Flits app.

Ah yes.. the Flits app – our special little gem. It brings with it both simplicity and functionality. Not only are users able hodl a wide variety of crypto assets.. but more importantly, they can do this with the reassurance of knowing they hold the keys to their coins.

Abundant in features, we have mining, cold staking and the running of masternodes. We also have epay integration and offer a brilliant array of giftcards – all obtainable with crypto. We have a helpdesk with useful information. Let’s of course not forget the “Discover” feature and the built in functionality for users to “Swap” their crypto!

Our ‘Heading’

  • A new ux/ui – bringing with it a whole new user experience. This will of course be accompanied by our soon to be launched exciting new logo!
  • Before then, the NEW swap feature will make its big debut. Users can look forward to brand new swap pairs, improved liquidity & a pretty darn cool complete redesign.
  • The same update will likely include the addition of adjustable bitcoin transaction fees.

Weekly AMA

Thank you to those community members who left questions on the Flits Discord #ama channel. Without further ado, let’s start with this week's edition of ‘Ask Me Anything’..

  • [Chaos]

Q. “When?” (in reference to the addition of the betting interface of PWRB)

A. This is not an avenue that Flits will be pursuing. As we have legal obligations, all our decisions need to be very carefully thought out. Our focus will therefore be on other areas of crypto.

Q. “In the new governance report, the fixed / expected expenses are listed for the first time - that's excellent! However, any good balance consists of expenses AND income. Is it possible to publish the income page with the next report at the latest? This would be the maximum transparency by which one can even better assess the development of Flits and the registered company.”

A. Although this may possibly be something for future consideration, we are not actively working on it at the moment. Remember.. there is more than one way to measure development and progress ;)..

  • [Tim]

Q. “Could you explain specific circumstances defined in the terms of use (I couldn't find them in terms of use), whereby the whole (miners/workers) operation is no longer considered profitable. - (Main question here is if that applies to PoW concept or Flits app)”

A. This is explained very clearly in the ‘Mining Terms of Service’. These mining specific terms can be located in the app, via the link at the bottom of the “Buy mining workers” section.

  • [Manu1997]

Q. “When will we be able to buy coins with eur debit card?” Will we be able to earn dai or eth in the flits app?”

A. Crypto to Fiat & Fiat to Crypto – are both still very much on our list of top ‘desirables’. We place a very strong emphasis on being legally compliant, so the wheels on the bus may sometimes appear to turn a little slower for certain implementations. But they are still turning nonetheless ;)..

Q. “Will we be able to earn dai or eth in flits app?”

A. There are so many exciting things planned for the Flits app, though we certainly don’t want to make promises that are either not deliverable or even unlikely to be delivered. As alluded to in a previous update, though.. we plan to incorporate interest smart contracts.

  • [colio]

Q. “any plans to add some defi functionality so that we can interact with daps from the flits app.”

A. We cannot integrate privacy coins, due to Dutch regulations.

To our dearest community.. these are very ‘different’ times we are all living in. Please try to keep safe and look after your loved ones. Till next time..


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