On the 18th of May, 2022 at 4:00 UTC, Decentralized Club had the honor of hosting Suleiman Ali, Co-Founder and CTO at FLUUS, for an Ask-Me-Anything session on their Telegram page with a community of over 60,000 people. It was hosted by DC Host, Min.
The session was divided into three segments. Introductions were made in Segment 1, questions from the Twitter community were answered in Segment 2, and live questions from the community members in attendance were answered in Segment 3.
If you missed this event and would like to know what FLUUS is all about, you can find a recap of the interview here.
Information here should be researched and should not be taken as investment or financial advice. Also note that slight edits have been made for clarity, and links in this recap lead to images, documents, or other media.
Segment 1 — Introduction
Are you excited for the AMA today?
Hello Yes I am
Welcome to today’s Ask Me Anything session with FLUUS.
I am Min, your host for today’s AMA.
We have a very special guest with us today, @ImSulei
You’re welcome to our community!
How are you doing today?
I’m doing great, thank you for the invite and i’m glad to be here with DC community
Thank you for finding the time to join us.
Can you tell us about yourself and your superpowers?
What is your role at FLUUS?
😅️️️️ My name is Suleiman, co-founder and CTO @ FLUUS, i love all things tech specially building scalable solutions
my superpowers are coding, hacking and systems engineering
im building FLUUS ecosystem of products starting with our on/off ramp aggregator
I see your cape. I definitely see it. 🦸🏽♂️
This is awesome! We’ll talk more about FLUUS in a bit!
Dear community, if you haven’t already, join
Shall we kick off the session with super cool questions about FLUUS?
Can you tell us more about FLUUS and what makes it unique? What problems has it come to solve?
FLUUS offers a suite of developer and consumer-facing solutions that connect the dots between crypto services, evolving the world’s access to web3.
Starting with the FLUUS SDK: An aggregation of global crypto ramping, swapping, decentralized trading services, and FLUUS Pay, a cash & mobile money ramping service. All under an easy-to-use SDK and widget.
FLUUS solves a prominent issue faced by developers when it comes to conducting multiple lengthy and costly integrations with some averaging onboarding fees of up to $25,000.
Crypto users of different blockchains will have the ability to buy, sell, trade and swap cryptocurrencies using all existing payment methods including those widely used in emerging markets, namely cash and mobile money.
FLUUS is transforming crypto on/off ramping by partnering up and integrating with local Money Transfer, Mobile Money, and Fintech Operators in emerging markets.
Solving the challenges of buy & sell crypto with an intuitive user experience, a reward system, and a stable on/off ramping network with a large distribution map is what the team put together to bring crypto to the ones who need it today.
That was supafast ⚡️
Let’s give a minute for the community to catch up
FLUUS is an impressive project, I must say.
There’s not enough awareness in web2 about the ease web3 transactions offer, and I love that you’re at the forefront of bridging this gap!
Can you explain the key features of your token and its use cases? How can users and partners benefit from its utility?
FLUUS tokens provide a range of utilities for businesses and users within the FLUUS ecosystem. $FLUUS is capped at 1 billion tokens and provides stakeholders with various benefits, participation opportunities and is also used to increase trustability and security of the FLUUSPay network.
- Fee reductions for developers integrating FLUUS into their solutions.
- Acts as means of collateral for on and off-ramp partners to protect users against dispute or fraud.
- Rewards retail users with real yield for providing liquidity in the FLUUS liquidity pools, performing actions beneficial to the FLUUS ecosystem, and staking FLUUS tokens.
- Acts as a governance token for the FLUUS DAO.
This is what? This is amazing.
What are the chains that FLUUS is integrated with currently? What partners are backing this project?
FLUUS currently is on Avalanche C Chain with plans to go cross-chain very soon, we have partners and backers such us FHS Capital, Base64 Ventures and others
Please tell us more about your products: FLUUSPay and FLUUSAuth.
FLUUS SDK: An aggregation of global crypto ramping, swapping, decentralized trading services, and FLUUS Pay, a cash & mobile money ramping service. All under an easy-to-use SDK and widget.
FLUUS Pay payment methods including cash and mobile money are designed for emerging markets to help with global adoption.
Our unique implementation of FLUUSpay. A collateralized network where we partner withFintech operators, money transfer networks and mobile money operators to offer crypto ramping services that are regulated and compliant.
FLUUS Auth: A solution that utilizes MPC and TSS to facilitate wallet creation and web2 user onboarding using SSO.
You added one more product, FLUUS SDK.
It’s great to learn about it too! 😁
What is your roadmap for the development of FLUUS?
Q2 2023 (April, May, June):
Increase human capital
Pre-sale on FantomStarter
Public sale of $FLUUS token on Tier 1 exchange
Launch staking pools and community incentive programs
Expand integration with ramping providers, including 100% india coverage
Widget design refactor
Q3 2023 (July, August, Sept):
List the token on a decentralized exchange (DEX)
Launch liquidity pools
Graduate out of BETA
Aggregate DEX and swapping services
Launch FLUUSAuth Alpha
Strengthen partnerships and increase coverage of FLUUS’s AID 3.0 product to support more aid initiatives.
Obtain provisional licenses to operate in more jurisdictions
Enhance FLUUS Pay network, enabling cash-to-crypto ramping and expanding its coverage to new regions.
Q4 2023 (Oct, Nov, Dec):
Implement FLUUS DAO Governance structures, enabling community voting and decision-making processes.
Expand the geographical reach of FLUUS Pay
Support additional cryptocurrencies on FLUUS Pay, providing users with a wider range of options.
Extend the coverage and capabilities of AID3.0, supporting more aid initiatives globally.
Beyond Q4 2023:
Implement KYC solution (possibly decentralized identity solution) to enhance user experience & allow instant on/off ramp
Launch FLUUS referral program
Launch learn to earn community program
We wish you the best on your roadmap! Can’t wait to share the milestones here in our community!
Are you ready to take questions from our Twitter community?
Segments 2 — Twitter Questions
In what ways does FLUUS aim to connect the whole of humanity to better economic opportunities?
Global access to crypto with local payment methods to on-ramp into crypto & web3
Innovative solutions that allow developer to easily integrate secure and user-friendly sign-up and web 3.0 onboarding into their own applications
You have a local network of licensed & verified agents that will help facilitate the conversion of fiat to crypto & vice versa. Is this service currently active? Has the network reached countries such as Indonesia, Vietnam etc? Can you talk to us about this in more detail?
The network is currently active in Lebanon with agents on ground that can facilitate cash-crypto. Through initiating the txn on the widget, the customer receives instructions on how to physically go buy crypto with cash in certain supported locations.
Some investors feel convenience in their favorite chain and want to see their favorite project on that chain someday. Can we expect someday to go CROSS-CHAIN, with governance utility and the same value on all chains?
Yes 100% and that’s the plan for $FLUUS token to be cross-chain stay tuned for details on how to bridge and use FLUUS token cross chain .
Does every payment method on your platform use the $FLUUS token? And can you provide more detailed info about the utility of the $FLUUS token? And are there any advantages of holding $FLUUS tokens in the long term?
Not all payment methods on our platform use $FLUUS token but its used in emerging markets where cash and mobile money is dominant, the $FLUUS token has a lot of utility which will grow as we release new products and expand our current offering, Long term holders can benefit from our upcoming staking programmes where they can earn real yield proportionate to their stake, learn more here https://docs.fluus.com/fluus/fluus-token/fluus-utility
From what I can see, Fluus supports more than 180 Countries and 200 Cryptocurrencies.
My question is: How does Fluus develop a simple-payment method for users in (conventional) countries that still apply the FIAT system to lead to crypto payments?
We study local regions and mark the most used local payment methods. Then we connect with them offering crypto users safe and compliant corridors to fiat exchange in local currency.
Studying design elements and User Experience, solving problems for real users, and continuous updates to enhance user experience and cater for their taste and behaviors.
For example we notice in many countries that suffer from inflation a trend to save in USD dollars rather than gold. Countries like Argentina, Lebanon, Egypt, and many others dollars are sold at a premium due to their ability to act both as a medium of exchange and store of value. Stable coins have the potential to be the next most currency in mentioned countries due the cross border feature of stable coins. Hence by building simple payment methods for users to connect to the crypto economy, we are connecting them to humanity.
Super amazing answers so far!
Community, are you done reading? Can we move to the next session?
If you’re just joining this session, REMEMBER, only click verified links from @itsFLUUS
Stay safe everyone!
Let’s give a minute for the community to prepare excellent questions!
Only five people will be answered so make it good! Really good!
AMA Rules for the community:
We only want to reward those that have been with us since the start of today’s AMA and have been paying rapt attention.
Here’s what we do! We use a special keyword in the questions. Helps filter out copied, generic and vague questions.
Dear active community, today’s keyword is the guest’s superpowers! He mentioned them earlier in the chat.
Add it to your questions. The guest will only pick the questions with the correct keywords.
All the best!
The group will be unmuted in five seconds
— -Chat was then opened for the live community to send in their questions —
Segment 3 — Live Questions
Dear guest, this keyword:
Coding, hacking and systems engineering
has been added to questions by the community members to show they were paying attention.
Please prioritize such questions in whatever form they were added🥳
I’ll answer the questions with the help of my team
Take your time 😇
Hello everyone, I’m one of the co-founders of FLUUS
I’ll help answer some questions
[King Of Crypto]
Do you allow suggestions and FEEDBACK from the community? Are we allowed in decision making, do you put community into consideration ?
Absolutely, a main utility of our token is governance where DAO members can participate in decisions surrounding key aspects of the FLUUS network, including transaction fees, dispute mechanisms, token offerings, platform integrations, rewards systems, and the structure of the DAO itself. Our main focus right now is the token listing that is happening in just a few days and ensuring its success for our supportive community!
Regarding the upcoming FLUUS public sale, can you tell us how we can participate?
What is the minimum amount to participate in the public sale? Is there any affiliate program associated with the presale?
we are currently running a pre-sale on the fantom starter launchpad (https://app.fantomstarter.io/projects/FLUUS) and you can learn everything you need to know about it here: https://blog.fantomstarter.io/ido-guidelines-fluus-96b3e60e545a
As well as our public sale listing on May 24th: https://medium.com/@itsFLUUS/fluus-everything-you-need-to-know-about-the-may-24th-release-616298778566
In terms of revenue generation, what are the potential benefits for users and partners who integrate the FLUUS aggregator and widget into their platforms? How are transaction fees distributed in these cases? superpowers: coding, hacking and systems engineering
FLUUS generates revenues by collecting a percentage of fees generated from the aggregator, the FLUUS Pay network, and AID3.0. FLUUS utilizes a revenue-sharing model with its partners. The transaction fees are split between FLUUS, partners, and the reward pool. The reward pool is then distributed to $FLUUS stakers, liquidity providers, community and DAO members.
he structure is as follows:
10% FLUUS LTD
10% Partner Fee
80% Reward pool
How does your ramping solution integrate with existing blockchain infrastructure?
coding, hacking and systems engineering
We offer a free integration with platforms across all blockchain ecosystems allowing their users to access crypto globally, wherever they are.
3️⃣ more questions to go 💪🏽
I understand that the Presale is ongoing at the moment. What exchanges do you plan to list as soon as the presale is over?
coding, hacking and systems engineering superpower
Tier 1 CEX by next week
itsFLUUS is currently holding a $FLUUS token sale, so what are the plans after the sale is complete? $FLUUS will be listed on Dex,Cex and CMC in the future?
- we are currently running a pre-sale on the fantom starter launchpad (https://app.fantomstarter.io/projects/FLUUS) and you can learn everything you need to know about it here: https://blog.fantomstarter.io/ido-guidelines-fluus-96b3e60e545a
- As well as our public sale listing on May 24th: https://medium.com/@itsFLUUS/fluus-everything-you-need-to-know-about-the-may-24th-release-616298778566
- we plan to list on more tier 1 exchanges and a DEX shortly after. You can find us on CMC here: https://coinmarketcap.com/currencies/fluus/
So looking forward, what are the next steps for FLUUS?
AFter our successful launch next week we have many plans to improve our product and token offering and start integrating with our partners.
You can find more info on our next steps in our recently published roadmap article here: https://medium.com/@itsFLUUS/fluus-achievements-in-q1-and-future-plans-to-evolve-web3-0-access-748f2e97c2cf
Keep ’em cominggggg
While using & Operating with the API & SDK,
Users may not be able to understand in the starting,
How will FLUSS help in this case?coding, hacking and systems engineering
We are working on extensive support documentation and our team is always available to support the integration process! Nonetheless, the API is designed with simplicity in mind and is a very straightforward integration.
[𝐅𝐞𝐛𝐫𝐢𝐚𝐧 | 𝐌𝐚𝐑]
How does FLUUS differentiate itself from other platforms aiming to connect individuals to economic opportunities?
We offer alternative payment methods including cash and mobile money to cover emerging markets and help evolve access to web3.
What specific avenues exist for developers, businesses, and token holders to generate revenue through FLUUS?
Developers & businesses: revenue share model. They get a % of txn fees!
Token holders: Real yield also generated from txn fees proportionate to their stake from the reward pool
I believe we’ve covered most of the questions without redundancy. Thank you everyone!
Aaaand it’s a wrap!
You have been an absolute delight to interview! @imsulei
Thank you for joining in with @JuanaAttieh as well!
Precise answers from experienced representatives from an impressive project! FLUUS is solid!
I like to ask this bit for the benefit of our community:
Are there any open roles at FLUUS?
One last thing don’t forget to follow us @itsFLUUS to get the latest news and open positions
It’s almost as if you read my mind!
Soon! Keep an eye out!
Any other closing remarks before you go? 😁
It’s been a pleasure! Hope to see you guys in our community!
A standing ovation for Suleiman, Juana and for the FLUUS team!
It was my pleasure to host you and a super super extra pleasure to learn about FLUUS today!
On behalf of my community, I’d like to shout out to the team at FLUUS! You’re all superstars!
I wish you the very best with your roadmap!
If your question wasn’t answered, please send it to the @itsFLUUS group and I’m sure someone will speedily answer you.
It’s been an exciting ride tonight. Thank you all for joining us on this AMA.
@ImSulei, @JuanaAttieh, thank you and see you back here sooooon hopefully!
I’m Min, your host with the most, signing out.
The AMA with FLUUS is now over.