Flypme claims to be an instant, private cryptocurrency exchange with 50% profit sharing and no registration required. Here’s our Flyp.me review.
What is Flypme?
Flypme, found online at Flyp.me, is an accountless cryptocurrency exchange that shares profits with its users.
The exchange requires no registration nor trust to begin trading. The only required information is the user’s crypto address so that Flypme has the correct input and output. Since Flypme doesn’t hold users’ funds, no trust is required.
The exchange was first announced in June 2017, with pre-ICO rounds taking place in July and August. Now, Flypme is preparing for its ICO on September 28.
Flypme is being developed by the team at HolyTransaction, which is one of the oldest multi-currency wallets in the bitcoin community.
Flypme is built on six fundamental pillars and features, including:
Uncompromised Privacy: Flypme claims to be private by design, and users always control their own funds and data.
Accountless: Flypme has no registration, email, or identification process required. You only need to provide your crypto address.
Fastest Speeds: Instantly exchange 13 cryptocurrencies straight to your wallet.
50% Profit Sharing: Buy FYP tokens and get a proportional share of the profits made by the exchange.
Participatory Policy Making: As an FYP token holder, you have a vote in how policies and proposals are implemented on the platform.
Permissionless API: Businesses and developers use the API to accept payments and make exchanges.
Flyp.me offers all of these benefits right now, and these benefits have been available since the June 2017 launch. In the future, however, the company plans to add even more features.
Flypme Features Implemented After the ICO
Once the ICO is complete, Flypme’s development team will add more features to the platform, including:
FYP Average Earning Index: See how much you’re earning with your FYP (i.e. how much profit you’re making from the profit-sharing system).
Cast your Vote: Propose new features or coin additions and vote for key decisions.
Cryptographic Auditing: Flypme will offer auditing for maximum transparency and accountability.
How Do Flypme Tokens (FYP) Work?
The Flypme ecosystem uses FYP tokens, which are ERC20-based Ethereum tokens. Each FYP token is divisible. After the ICO is complete, no additional FYP will be created.
Each FYP token will equally receive a share of the profits generated by the exchange’s fees. 50% of the net profits generated by Flyp.me will be distributed to FYP token owners in proportion to their ownership of tokens.
As the owner of FYP tokens, you’ll also be eligible to contribute to policy decisions on Flypme, including proposing new features and voting on key features.
The Flypme Token Sale
The Flypme pre-sale took place throughout July, August and September (starting on July 10). During the pre-sale 1 ETH = 4,840 FYP tokens.
Meanwhile, the general ICO begins on September 28 at 15:00 UTC. During the general crowdsale, 1 ETH = 4,400 FYP. After hitting a hidden soft cap, the rate will rise to 1 ETH = 4200 FYP (a 5% bonus over the normal rate).
The ICO ends on October 21, 2017. If the hard cap (also hidden) is reached, the ICO will end three hours after the hidden hard cap threshold is reached. The soft cap, although hidden right now, will be disclosed as the ICO goes live.
Any unsold tokens in the pre-sale and token sale will be given to the team, which means the percentage breakdown has not yet been decided. If the hidden hard cap is reached, however, then 30% of the FYP tokens will be assigned to the Flyp.me platform and 70% will be assigned to contributors.
Who’s Behind Flypme?
Flypme is led by the team at HolyTransaction. HolyTransaction was one of the first multi-currency wallets in the industry, and it’s the oldest wallet that’s still active. The company doesn’t publicly publish their list of team members:
“Considering the nature of our business, we don’t deem it safe to publish the full list of team members, because this can expose them to personal attacks and possible corruption from external actors.”
The only listed member of the team is Francesco Simonetti, CEO.
The Flyp.me token sale launches on September 28. The exchange promises to do something that many people thought was impossible: create an exchange where you don’t need to enter any personal information to begin trading. Flypme only requires you to enter your wallet address. And, you remain in complete control of your funds at all times. It’s a truly peer-to-peer exchange.
As an FYP token holder, you’ll receive a 50% cut of all profits made by the company (proportional to the share of tokens you hold). Token holders also have voting rights on all future Flypme proposals and developments, and they can launch proposals of their own.
To learn more about Flypme and the token sale, visit online today at Flyp.me.