Free Hosting Flits Wallet

Hi everyone,

It has been a rough couple of months for the project, and although we are doing our best to provide the best service possible we are not always in control of everything that is going on. Like other projects, we are also subject to outside influences and external events that can be detrimental to our users and investors. We have been confronted with hefty server issues and scalability issues and unfortunately, we have not been able to provide the service level we are aiming for. We understand the users should never experience these "shortcomings" as they do now, so we would like to give you something back.

As previously announced we will offer the Flits users inside the app one month of free hosting. Instead of limiting this to only users who have been afflicted by the OVH issues, we would like to have all users of the Flits Wallet benefit from this discount. On top of that, we would also like to extend this period until the v5 of the Flits Wallet is officially live. We estimate that v5 should be ready for the public in about 2 months. This means that every user will be able to benefit from free masternode hosting inside the Flits Wallet app until the new version of the app is live.

During this period users will not be able to buy credits. Also, people who have zero fees will be able to request their locked coins back, as V5 will no longer support the zero-fee feature. Instead, we will have an alternative model where users can benefit from a discount on hosting costs. The idea behind the new model is that loyalty will be rewarded, so the more nodes a user hosts the higher the discount. The replacement model for zero fees will look like this:

Masternode Projects

Together with this new discount model, we will also make some slight modifications to the business model. The current credit system will be replaced with a EUR balance inside the app. The reason for this is that otherwise, the discount structure will not make sense. 

Currently, one Flits credit is 0,10$ (USD) and this will change to 0,10€ (EUR) after V5 is released.

Projects that require IPv4 will also cost 0,20€ a day, instead of 0,10€. The app will display these new prices for the different projects, plus an overview of the user's total discount inside the app.

Wrap up:

Free hosting for all users until V5 of the app is officially live!

New Business Model Flits:
- 0,10 USD will become 0,10 EUR;
- Credits will be replaced by a EUR balance;
- Nodes that support IPv4 will cost 0,20 EUR per day to host;

We thank you all for staying with Flits and appreciate your support in good times and in rough times. 

Kind regards,
Team Flits