With 2020 now done and dusted, and the crypto markets ablaze with excitement – right at the start of 2021 no less!.. there’s truly no time for us to waste in building upon our past successes. As a matter of fact, our team is paddling for what could be ‘the wave of the century’! So.. as our most loyal community - why not grab a board yourself and spread the news of flits?! We’re surely in for the ride of our lives!!

Our rocket is pretty much fuelled, with the pre-launch checklist currently under way.. That’s not to say, there’s nothing new to look forward to either. Our development team continues to innovate and surprise, kinda like our ‘afterburners’. Better you grab a g-suit as well ;)..

New Logo Roll-out - Imminent

We finished off last year with a ‘Special Edition’ for our weekly update. It showcased all there was to know about our exciting new logo, accompanying our strategically refined brand identity. Since then, the new logo has successfully been incorporated into our own community channels. Though we had originally planned for the subsequent official roll-out to take place on 1st February 2021.. we have instead decided to bring this forward somewhat.

This is a strategic push as we focus on better aligning ourselves, through the perceived benefit of how others may recognise our brand and in turn, see the wonders of our entire ecosystem.

Internal Explorers - Migration ongoing

It has previously been discussed that the decision was made to utilize our own internal explorers. The vast improvements in stability, balance handling and notifications cannot be understated!

Though a very labour intensive process indeed, we will continue in our quest to have all coins switched over to the new explorers as soon as possible. We are currently around 40% of the way there. Anyone is free to make use of them, as and when they become available. The sleek user friendly design is also a welcome relief.

Flits Mining – Exciting News!

We are pleased to inform our community that we will soon be adding Bitcoin as a new payment option for “workers”. This should prove somewhat useful for those holding BTC within the app, and not wanting to first go through the process of obtaining FLS. With regards to transaction fees, however, we of course encourage everyone to practice their own due diligence.

In addition to the above, we are ecstatic to inform you that FLS will be added as a new mining payment option (in addition to BTC and ETH). The challenges faced thus far with regards to some delays in users receiving their mining rewards due to high ‘gas’ fees, can now essentially be overcome. The potential benefits to this addition may not quite end there either ;)..

Sapphire (SAPP) & Jackpot (777) – In Maintenance

As has been recently communicated in a separate announcement, Sapphire (SAPP) & Jackpot (777) may be out of sync more often. It is also not practical for the technical team to re-sync a block explorer several times a day. While we are hopeful for an effective update to solve the problems, we have no time frame for when business will be back to usual in this regard.

In the interim, however, the coins will be kept 'online' our end, so users may attempt to withdraw should they so wish (or when the coin is on the correct chain, receive rewards).

We will periodically check the chain statuses and continue to communicate with the respective coin developers, in the hope that a faster solution could perhaps be established.

Note: Please be careful when sending or extracting coins. Every service provider, exchange and also persons managing wallets themselves are experiencing these issues.

Major App Update – Coming Soon

For the many eagerly awaiting the much anticipated new swap feature, we wish to confirm that this is indeed planned to go out in the very next big app update! So too, is the ‘adjustable transaction fees’ for Bitcoin.. Exciting times indeed!

Weekly AMA

Once again, we wish to thank our awesome community for interacting with the team by leaving questions on the Flits Discord #ama channel. Without further ado, let’s kickstart the first AMA session of 2021 :)..

  • [Colio]

Q. “how is the swap update process going”

A. As alluded to above, this is planned to go out very very soon. The new swap took a little longer than originally anticipated, due to some more testing and further improvements on the new structure. We are happy to inform you that all should be finalized in January.

Q. “when will I be able to stake my eth on the app”

A. We are actually currently testing this, with the planned release of this feature towards the end of Q1 or beginning of Q2.

Q. “what kind of advertising are you planning on doing”

A. We are currently building a decent database of YouTube content creators/influencers - who may potentially be a good fit with the Flits project, and able to reach a lot of new investors. We have also been investing a lot of money in optimizing SEO and ASO.”

  • [Manu1997]

Q. “What new usecases of flits are you going to introduce in the app?”

A. Though there are no specific use cases we can share right now, we are certainly planning on expanding the possibilities to make purchases in the Flits ecosystem with FLS (just like the mining features that were added a few months back). We will continue searching for these kinds of implementations to expand the reach of FLS.

  • [asd protos]

Q. “Did you guys think about approaching bigger exchanges?”

A. Though this particular question was asked before, the answer at this point in time remains unchanged. Right now we feel that the Flits ecosystem is not robust enough to move on to the bigger exchanges (like Kucoin etc.). That’s of course not to say that we wouldn’t like to reach that point. For now, though, we are confident that our exchange current portfolio fits our special project – rather well.

  • [Tim]

Q. “Will collateral for a Flits node increase in the future”

A. Right now there are no such plans for any increase in collateral for FLS nodes. That’s also not to say, that such a possibility is ruled out altogether.

  • [Tim]

Q. “And if you are, do you have it set in stages, targeting one group at the time or ...” (In reference to the question asked by colio on advertising)

A. Everything we do is based on both the data we receive (eg. from the app) and the valuable feedback kindly provided by our loyal community. When we commence with any advertising, we will indeed follow the same approach. Whatever decision is therefore taken, it will likely be strategically thought out.

  • [JakubM]

Q. “Do you plan some FLS coin lock for getting some benefits? Like free staking, higher % of staking/interest, less hosting fees, less workers price, free workers, etc... Main benefit is less coin in the markets... Do you plan some burn FLS coin which receives from hosting fee, workers price etc ?”

A. Well.. we already do have the ‘zero fees’ option, which makes it possible to lock one FLS masternode - to enjoy hassle free hosting within the Flits app. Besides this, there are no immediate plans to add any other such implementations. We also currently have no plans of burning FLS.

As always, please be careful, stay safe, practice social distancing and look after your loved ones.


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