Thread by @Flashstake

The biggest upgrade to Flashstake since the Flash Capacitor is on the horizon.

Introducing FlashLend.

After you perform a Flashstake, you can now stay liquid by borrowing from your position.

Here's everything you need to know ↓

#Q1 Why is this a big deal?

It's hard to ignore the success of LST protocols like Lido + Rocket Pool.

Users love liquidity.

Up until now, loss of liquidity has been the number one reason users haven't deployed more capital into Flashstake.

FlashLend aims to solve this.

#Q2 How does it work?

Currently, when you perform a Flashstake, your principal is locked up in an NFT.

Up until now, this NFT has been illiquid.

With FlashLend, you can borrow from your NFT.

More liquidity.
More flexibility.
More creativity.

#Q3 Do I have to use FlashLend?

No, this upgrade is optional to use.

No existing Flashstakes are at risk of liquidation.

#Q4 How do I use FlashLend?

1. Go to the "FlashLend" tab
2. Select the "Borrow" button
3. Select the stake you want to borrow from

Upon completion, you will receive fc-Tokens at a 1:1 ratio of your original principal.

#Q5 Show me a FlashLend example?

1. John does a 50-day Flashstake of 100 rETH.
2. John receives an NFT that represents his 100 rETH principal.
3. John goes to the FlashLend tab and borrows 100 fc-rETH tokens.
4. John can now sell this fc-rETH for anything he wants

#Q6 Why are they called fc-Tokens?

fc-Tokens = "Flash Collateral Tokens"

#Q7 What can I do with fc-Tokens?

1. Borrow: Mint fcTokens by depositing FlashNFT
2. Payback: Burn fcTokens to withdraw your FlashNFT
3. Auction: Deposit fcTokens to bid on FlashNFT
4. Sell: Swap fcTokens to acquire new tokens

#Q8 What are the risks of FlashLend?

John must return his 100 fc-rETH to reclaim his original 100 rETH before the end of his 50 days or risk losing his principal.

If unclaimed before 50 days, the 100 rETH goes into auction in the form of a FlashNFT.

#Q9 How does the auction work?

Auctions are buy-it-now, first come first serve.

To win an auction, you must pay back the original fc-Token amount.

For example if an expired FlashNFT holds 100 rETH, bidders must pay 100 fc-rETH.

#Q10 How do Auctions have $FLASH utility?

During the first 7 days of an auction, the bidder must pay $FLASH tokens.

Starting at 1.5mil $FLASH, decreasing 2.48 $FLASH per second until it reaches 0 on day 7, this system helps everyone get a fair opportunity to acquire a FlashNFT.

Auctions $FLASH cost is the 2nd utility upgrade the $FLASH token has received

Refer to docs about Flash Capacitor & utility
docs.flashstake.io/tokenomics-fla…

The Flash Capacitor was the 1st utility upgrade to $FLASH

https://twitter.com/ZacharyDash/status/1621980346760708099

#Q11 How do Auctions have Flashtronaut NFTs utility?

By holding a Flashtronaut NFT in your wallet, the Auction's $FLASH cost to you will be reduced by 10% of the current amount required.

Refer to docs about Flashtronauts
docs.flashstake.io/flashtronaut-n…

#Q12 Can borrows be looped?

You can mint an LST of your LST.

LST^2.
1. John goes to FlashLend and borrows 100 fc-rETH tokens.

2. John can sell this fc-rETH for rETH.
3. John can Flashstake that rETH.
4. John can go to FlashLend and borrow more fc-rETH from that rETH stake.

#Q13 Where can I learn more about FlashLend?:

Refer to docs about FlashLend
docs.flashstake.io/liquid-stake-f…

FlashLend at the Flashstake Dapp
app.flashstake.io/lend

Ask questions at Flashstake Discord
discord.gg/flashstake