Andrey Pavlenko
2 min readSep 15, 2021

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FLUX PROTOCOL MY MAIN PROJECT OF THIS YEAR

  1. Why did I become an ambassador for the flux protocol project?

In 2017, I watched the formation of, perhaps, the main oracle at the moment, Chainlink, I was very shocked by the existing developments of their CEO Sergei Nazarov, but at that time I had no idea how important this product would be for the ecosystem. As time went on, new players entered the arena: API3, BAND and others. But now, in my opinion, the emergence of a new unicorn project is taking place, which combines all the best that was in those projects. Now I can no longer stand aside, because I have the opportunity to become a part of the community and implement the accumulated experience.

2. What is flux protocol and its advantages over competitors?
Flux Protocol is a scalable and decentralized protocol enabling users to use on-chain data for any asset, commodity, or event.
Compared to other protocols, we can check these statistics:

Flux has several great features: low transaction fees, fast and secure data resolution, resolutions backed by economic guarantors.

From the table above, we can see that Chainlink only has a statistical measure in the dispute mechanism, while the Flux protocol depends on a statistical measure, rates and voting. This makes it more stable. Also Flux is an Oracle aggregator. This makes Flux a more advanced technology. In addition, it is well protected by validators.

3. Who is supporting the project?

Distributed Global, Coinbase Ventures and others are betting the data protocol can help lending applications attract users to NEAR. I think the collection of funds speaks for itself. Details in the article:
www.coindesk.com/business/2021/05/20/flux-protocol-raises-103m-seed-round-to-build-defi-infrastructure-on-near/
There is also information circulating on the Internet that Solana considers the Flux protocol as the main oracle. At the moment, solana is the fastest growing blockchain, which is important.

Conclusions:
The project really deserves attention, if you still haven’t seen the diamond, then I highly recommend that you familiarize yourself with the project.

LINKS FOR DETAILED PROJECT ANALYSIS:
www.fluxprotocol.org/
www.fluxprotocol.org/blog/announcing-the-flux-protocol-foreteller-event
www.coindesk.com/business/2021/05/20/flux-protocol-raises-103m-seed-round-to-build-defi-infrastructure-on-near/

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