Demand

1. Utility

In order to participate in the FLock’s ecosystem, users first need to stake $FML, whether it’s for model creation, training, or validation. This is to ensure that participants are incentivised to behave honestly in the system. In the event of abusive or dishonest behaviour, the user’s staked tokens will be slashed as a punishment.

In addition, FLock allows participants to be supported by delegators through $FML token delegation - delegators delegate $FML to participants; in return, delegators take a share of the rewards earned by participants. Consequently, it creates a dynamic and competitive environment where participants are incentivised to not only perform optimally but also establish and maintain appealing conditions in order to attract current and prospective delegators.

Note: The delegation feature may not be accessible in some countries due to local laws and regulations.

2. Payment

Our $FML community holders may periodically assess lists of top and trending models hosted at FLock’s platforms. This allows for rewarding prominent model contributors and creates a healthy competitive environment for the community to build better models. Users participate directly in the ecosystem's economy by spending FML tokens to access models hosted on FLock. This mechanism is intended to drive demand for $FML as the platform expands and usage rises.

Developers within the FLock system may also be required to pay fees in $FML to join the system, which are subsequently burned. This measure helps mitigate potential DoS attacks by malicious participants. Additionally, this deflationary mechanism reduces the total token supply, potentially increasing the value of the remaining tokens and ensuring that only serious participants engage with the network.

3. Governance

FLock token holders are empowered to actively engage in the system’s governance through a DAO, a pivotal mechanism that democratises decision-making process. This participatory model allows token holders to propose, debate and vote on various aspects of the ecosystem’s development and management, ranging from technical updates and protocol modifications to treasury management and community initiatives.

The voting process in the FLock ecosystem is designed to be transparent, fair, and resistant to manipulation. To submit a proposal for voting, a proposer must first stake a specific number of tokens. This staking requirement acts as a barrier to frivolous or potentially scam proposals, as the proposer risks losing their staked tokens if the community deems the proposal to be invalid or malicious.

In return, FLock’s platform offers proposal rewards to incentivise users to submit high-quality, valuable proposals that contribute to the growth and development of the ecosystem.

NOTE: The FLock team is carefully considering the specifics of DAO design, governance mechanisms, legal structure, and on-chain tooling to support DAO operations. The information above describes our initial high level vision for the DAO. It is subject to change and we will share more detailed information for FLock’s implementation as we approach its launch date.