Community Update.

Suleman

• 2 min read
Community Update.

Florence Finance has been flourishing organically since its inception — we’ve experienced a steady growth in user adoption and through our Duke campaign.  We are thrilled with our progress to date. With our marketing push just around the corner, we are setting the stage for an even steeper user adoption curve and scaling.

Before we dive into addressing the elephant in the room, let's take a moment to reflect:

Status Quo

  • There is a total of 83M FFM tokens in circulating supply / Market Cap of $5M~
  • We now have over 10 thousand FLR holders and close to 2500 FFM holders.
  • We recently concentrated liquidity on UniSwap, split evenly over Arbitrum & Base.
  • Our Average Daily Trading Volume (ADTV) of around $250k over the last month.
  • 25% of the total FFM Supply (250M FFM) are “reserved” for Seed & Founder MDC conversion locked up till June 7th.

Seed Investor FFM unlock

When we executed our TGE on January 6th this year, we locked up the Seed Investors’s FFM tokens for 6 months and the Team tokens for 18 months. Thanks to their unwavering patience and commitment to the project, it is deemed only fair to give Seed Investors access to liquidity at this juncture. Given where we are as a project however, it is clear that we can’t just “rip off” the bandaid.

In order to manage perceptions and send the strongest signal of support for what Florence.Finance is doing, the Investors have agreed to accept a further 18m linear vesting period post the July 7th unlock and we will be allocating each investor their tokens in separate vesting contracts on Arbitrum post that date.

We believe this provides clarity on token unlocks going forward and strikes the right balance between the current float & liquidity as well as the interests of Investors.  We are grateful for the support and patience that our Seed Investors have shown Florence Finance.