KPI tokens redeemable for FLASH tokens

What is xFLASH?

xFLASH is a KPI token that can be redeemed linearly for between 1 and 5 FLASH tokens at any time, based on TVL goals:

  • $0 TVL, 1 xFLASH = 1 Flash

  • $20M TVL, 1 xFLASH = 1 Flash

  • $40M TVL, 1 xFLASH = 2 Flash

  • $60M TVL, 1 xFLASH = 3 Flash

  • $80M TVL, 1 xFLASH = 4 Flash

  • $100M+ TVL, 1 xFLASH = 5 Flash

To reward the most loyal community members, 1.5M xFLASH (up to 7.5M FLASH) will be made available on a first-stake, first-serve basis.

xFLASH Flashback Dates

xFLASH Flashbacks will be opened in three waves:

  1. Friday, July 14th

  2. Friday, August 18th

  3. Friday, September 15th

Each wave will open up an additional 500,000 xFLASH available, for a total of 1.5M xFLASH.

How to participate:

  • Lock FLASH for up to 6 months

  • Wait until the end of your lock duration and remove your FLASH (principal) + xFLASH (yield)

You can unlock your FLASH at any time but forfeit your xFLASH by doing so.


FLASH can be staked for up to 6 months duration to earn up to 0.05 xFLASH per 1 FLASH staked

  • Example: Staking 100 FLASH for 6 months will earn you 5 xFLASH.

Because 1 xFLASH will be redeemable for between 1 and 5 FLASH, this means the potential amount of FLASH earned for staking FLASH becomes 0.05 to 0.25 FLASH earned per 1 FLASH staked.

Because the maximum stake duration is 6 months, and maximum potential earned FLASH is 0.05 to 0.25 FLASH per 1 FLASH staked, the potential APR is 10% to 50% APR.

  • Example: Staking 100 FLASH for 6 months could earn you between 5 and 25 FLASH.

Redeeming xFLASH for FLASH

Protocol TVL Calculation

Protocol TVL will be determined based on the snapshot taken on May 1st, 2024:

  • Includes all of the FLASH/ETH LP staked for veFLASH

    • Example: FLASH is worth $1 and ETH is worth $2000. There are 10,000 FLASH and 5 ETH total tokens as LP staked for veFLASH. $10k FLASH + $10k ETH = $20k TVL

  • Does not include other FLASH/ETH LP not active in the actual protocol

  • Includes all tokens staked into Flash 2.0 strategies. Those strategies must be receiving veFLASH voted on FLASH emissions to qualify.

    • Example: USDC is worth $1 and ETH is worth $2000. 50k USDC and 100 ETH are staked into strategies earning FLASH emissions. $50k USDC + $200k ETH = $250k TVL

Given the above 2 examples, this would mean the total Protocol TVL Calculation would be calculated as (veFLASH LPs) $20k + (strategies stakes) $250k = $270k Total

TVL KPI Calculation

This value is a linear calculation based on the Protocol TVL Calculation.

If we reach our goal of at least $100million TVL (Protocol TVL Calculation) then 1 xFLASH will convert to 5 FLASH.

If the Protocol TVL Calculation is less than $20million, then 1 xFLASH will still convert to 1 FLASH as it did before May 1st.

If the Protocol TVL Calculation is between $20million and $100million, then the xFLASH will convert to a number between 1 and 5 FLASH based on the following formula:

  • (Protocol TVL Calculation) / $100million = Percentage of 5 FLASH

  • Examples:

    • $40mil / $100mil = 40% of 5 FLASH = 2 FLASH

    • $75mil / $100mil = 75% of 5 FLASH = 3.75 FLASH

Redemption Dates

  • Before May 1st, 2024: 1 xFLASH can be converted to exactly 1 FLASH at any time

  • After May 1st, 2024: 1 xFLASH can be converted to some # of FLASH between 1 and 5 depending on the TVL KPI Calculation

Stay tuned for future announcements and this documentation page to be updated once a new contract is deployed that will enable converting your xFLASH tokens for FLASH tokens. The likely method will be to deposit your xFLASH into a contract to instantly receive FLASH tokens.

xFLASH contract


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