Dear Flits community.
We are thrilled to confirm both the creation of the Flits Fund, and it’s first use case already having been implemented. Those Sinovate investors recently affected by the loss of their masternodes (through no fault of their own), now qualify for a partial reimbursement through the said resource.
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With longevity in mind, we have opted to create the Flits Fund with running masternodes. These will generate rewards, which in turn will both ‘top up’ the fund and be available for periodic distribution.
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Flits will take 50% of the responsibility over the situation, and dedicate the Flits Fund to reimburse the equivalent of half the ‘lost’ SIN to those affected.
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We have become aware of Sinovate potentially offering some sort of program themselves, and encourage those affected to also look into this, and also affected the payout percentage.
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Payments from the Flits Fund will take place every 3rd week of the month, commencing February 2021.
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Those affected have until 1st January 2021 to sign up. We will then need some time to finalize the checking/verifying of user accounts and associated data.
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We will calculate the actual reimbursement based on the value of SIN per block 550 000.
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The reimbursement will be incrementally/periodically paid in FLS to the corresponding wallet within the Flits Wallet app. Users are therefore required to have the app, in order to receive the reimbursement. The intention is for such incremental payments to continue until the full 50% has been issued.
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Kindly note that we will create a web form where users will be able to sign up. Details of which will follow in due course.
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Those who qualify for the reimbursement, will need to accept the associated terms should they wish to partake: https://support.flitswallet.app/hc/en-us/articles/360016080637
NOTE: By making use of this fund, all prior forms of reimbursement will no longer be considered. This includes the reimbursement of fee credits.
Official Registration Form: https://forms.gle/QjEdT4t5twzJ4QiN7
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