Crypto Payment Network FLUUS To Hold Private Token Sale Via AllianceBlock’s Fundrs App

Crypto on-ramping partner network FLUUS has announced a private token sale listing on AllianceBlock’s Fundrs protocol, seeking community funding to get its crypto-to-fiat services off the ground.

FLUUS, which recently raised $600,000 via a pre-seed funding round coinciding with its beta launch, is aiming to boost accessibility to crypto in developing markets with a comprehensive fiat on-ramp and off-ramp service. It does this by removing the friction involved with buying and selling crypto, which it states is one of the biggest roadblocks to adoption. 

In its listing on Fundrs, FLUUS says that while there are already more than 120 million crypto users in emerging markets, there could be ten-times that number if not for the lack of connectivity to local payment methods and the poor user experience decentralized money provides. The challenges of accessing crypto aren’t restricted to consumers either, as developers also struggle with segregated payment methods, resulting in additional costs and headaches to integrate fiat onramps and offramps, FLUUS believes. 

FLUUS says it targets emerging markets because they account for 15 of the top 20 nations in crypto adoption. It adds that consumers in these markets are five-times as likely to buy crypto as those in more developed nations. 

Fundrs is a community fundraising protocol developed by AllianceBlock, a startup building the infrastructure required to bridge centralized finance with decentralized finance and make the world of crypto more accessible. As such, Fundrs is a natural fit for FLUUS, which is seeking funding from its community via a private token sale that will run from April 3 to 24.

FLUUS is aiming to raise $100,000 through the Fundrs listing, with tickets selling for 100 USDC each to community members. Each ticket entitles the buyer to 6,666.67 $FLUUS tokens, priced at 0.015 USDC each. 

The $FLUUS token plays an important role in FLUUS’s onramping and offramping system, serving as both a reward mechanism and governance token. For operators to partner with FLUUS, they must first pass a KYB check and then, in some scenarios, purchase $FLUUS tokens and lock them in a smart wallet as collateral. It ensures partners have “skin in the game”, FLUUS says, increasing the level of trust throughout its network. 

When it launches later this year, FLUUS Pay will ease crypto adoption by integrating Web3 functionality into a traditional, Web2-style user interface, providing a more intuitive user experience than modern crypto wallets. FLUUS promises to make it easier for anyone to buy and sell digital assets through familiar mobile payment tools and even cash, through its network of partners. 

In addition, businesses will be able to integrate their legacy apps with FLUUS, earning fee reductions when they accept $FLUUS as payment. Finally, users of all types will have the opportunity to earn a passive income through yield by staking $FLUUS to supply liquidity

FLUUS’ other main product is FLUUS Connect, a developer SDK that enables simple integration with FLUUS Pay. With this, developers will have a simpler way to enable Web3 onboarding within their applications.