So, what is Flux Network?
The Flux Ecosystem is a suite of decentralized computing services, and blockchain-as-a-service (BCaaS) solutions. This ecosystem offers an interoperable, decentralized, AWS-like development environment. Flux utilizes a native Proof-of-Work coin, also named Flux, to power this ecosystem. The Flux token provides incentive for hardware hosters, on-chain governance, and even bad actor mitigation. Which is done via staking requirements for running hardware.
FluxNodes are incentivized, distributed, enterprise-grade computing nodes that power the whole BCaaS ecosystem. There are 3 different levels of FluxNodes with increasing amounts of collateral Flux and hardware requirements needed to join the network and receive rewards. On top of Flux coins, node operators receive distributions of coins from other projects that are using Flux infrastructure to quickly build out their own projects. For example, the top two tiers of FluxNodes also receive Kadena ($KDA) on top of the normal Flux rewards!
For more information on Flux Network, you can visit their official website here.
You can also read more about Flux Network on our blog here!
How to buy or sell FLUX on CoinMetro
How to receive/deposit FLUX
For all in-depth information on how to deposit FLUX into your CoinMetro account, please click here.
If you're depositing from another exchange, it is important to ensure they support sending funds to ETH contracts, or use a full ETH wallet as an intermediary.
Note: As CoinMetro uses smart contracts for Ethereum and ERC-20 token deposits, the amount of gas required is slightly higher than a typical transfer. To be sure that your transaction is successful, please set the transaction gas limit to 55,000 for ETH. The fee difference is minimal. If your gas limit is too low, the transaction will simply be rejected by the Ethereum network. There is no risk for loss of assets caused by a too low gas limit.
How to send/withdraw FLUX
For all in-depth information on how to withdraw FLUX from your CoinMetro account, please click here.
Important Note - To request a withdrawal, your account profile needs to be verified as well as having the funds to cover your withdrawal. The first time a withdrawal is made to a destination, the destination needs to be verified via e-mail. If you have 2-Factor Authentication enabled for withdrawals, you will be asked to input the code for each withdrawal, approved or not. We suggest enabling 2-Factor Authentication to protect your account.
Withdrawals waiting for approval can be cancelled and withdrawal status can be found by selecting the wallet on the GO! Dashboard. Approved withdrawals cannot be cancelled. If there is no Cancel button, there should be a transaction ID (TXID). This is a link to the relevant tx hash (Transaction Hash) on a blockchain explorer website.
We hope this article has given you all the information you need on buying, selling, depositing and withdrawing FLUX.
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