Flits V5.0 Timeline update

Hello everyone,

We would like to update everyone on the progress we have been making with the new app. Currently, we are all working hard on getting everything in order to make sure the new app release is on track and in time. I am happy to announce this is the case! We have finished all app designs, including the new onboarding and dark mode, meaning we can up the development speed to get everything up and running.

New support system:
As the new app is our main priority, we are also working on a new website, that better fits the new style of the app and the Flits brand book. But we are also working hard on building and integrating a fully custom new support system for the app. This new support system should make things easier for the team, and for the users because we are able to provide better-targeted services and our software will be better integrated.

App visuals:
We have been sharing a few previews in the Discord channel already, but we would like to showcase the new app a little more. Therefore, we have some visuals ready and a small video, so that everyone can see the basic operation of the new app. Please take in mind that these visuals may still be changed before the new app is released (for Beta testing).  

Dark mode:


Video:


Old and new features:
With the release of the new app, a lot of things will change within the app, not only user-wise but also in terms of features inside the app. We have been exploring crypto for the last 2 years, and we have taken every opportunity to make the app a better tool for investors and users. Unfortunately, we have also been focussing on expanding our app and adding new features that we have made some choices we are not able to keep for the long term. As everyone is aware, crypto moves fast, as every innovative and financial market does. And this means we have to adapt to these changes. One of the biggest steps, in this case, is of course the integration of Defi inside the app and the swap from Masternode project to Defi projects for Flits. We believe that in order to grow Flits and to appeal to a broader audience, we are able to utilize Flits as a (Defi) Token much better than a Masternode coin. Right now the coin has no added value to the project, both entities coexist, but one does not necessarily depend on the other. We want to change this and make a cohesive ecosystem, offering different features, including the Flits App. This will require us to rethink our business, our vision, our strategy, and our current service.
As we can perfectly understand some of the things that will be removed will not be in favor of (some) of our users, we are not left with many other options. New regulations and the fact we want to aim higher than only serving the master node space, as it is such a small portion of the crypto community.  We want to keep innovating and building great services for people involved in crypto, but that also means we have to make some hard decisions and choices. Of course, many of you know we are a Dutch company, and that means that we have a certain responsibility.

Because we want to be fully transparent, we have made an overview of features that will no longer be supported within the Flits app after V5.0 is released. We can understand that this may come as an unpleasant surprise for some users, but our decision is final. Please read carefully as we will also mention when a service is removed in its current form, but there is a chance it will be added at a later stage in a different form.

Mining:
Mining will not be returned to the new app in its current form. Users who have invested in mining will of course keep receiving their rewards as long as the mining operation is profitable. But it will not be possible to buy new miners in the app from V5.0. The reason for this decision is that it does not fit the decentralized nature of the Flits app, and we have no capacity to manage a mining operation when it should grow any bigger. Meaning the mining operation in its current form will be removed from the app, so users are no longer able to buy new miners/workers.

We are already in contact with a third-party service provider who is interested in offering mining in the Flits app through their operation. But that is something for the future. So mining could maybe be reintroduced inside the app, but in that case with a third-party provider and a dedicated service contract.

Zero fees:
A feature enjoyed by many but unfortunately too vulnerable to price fluctuations, and therefore it will no longer be supported inside V5.0 of the Flits app. People who have zero fees enabled will of course be notified of this change when the new app is live, but this will mean that we will no longer offer the service to users to lock 1000 FLS inside the app and enjoy free hosting. The reason for this is that the hosting service inside the app, by far, is the most expensive part of the whole Flits service. And with the Flits coin being subjected to heavy price fluctuation this is not a service that can guarantee continuity of the Flits App.

Zero fees will be reintroduced in the new app when we move from Masternodes to Defi, as we are able to utilize smart contracts to make zero fees work inside the app. Please keep in mind this is just an initial idea, the possibilities will still require time to do research.

Epay:
Epay will no longer be supported within the new Flits app. The reason is that we will separate ways with our current gift card provider, so there is no longer support for Epay. Users will not be able to buy a new Epay card (this has already been disabled inside the current app) and when the new app is live users will also not be able to buy top-ups for these cards. This will mean Epay will no longer be supported inside the Flits app. As Epay is not a service limited to Flits, users can use different other routes to buy top-ups for their cards with crypto. We will release a separate statement with the specifics on this.

Thank you for your time, and we appreciate all the support we have been receiving the last couple of months. Flits V5.0 will be a game-changer and will be the start of a whole new Flits ecosystem. After the new app is live, our users can expect regular updates, improvements, and new services being introduced.