April 3, 2022

Fungible tokens on Flow

Written by: 

Flowverse

flowjames

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View more Flow Blockchain Research

Many people know Flow Blockchain exclusively for NFTs. However, Flow is a generalised layer-1 blockchain which means cryptocurrencies (i.e. fungible tokens) can also be built on the network.

Currently (April 2022), there are only a handful of released Flow Blockchain tokens, however many other businesses and NFT projects building on Flow will be launching tokens in the future. At Flowverse, we believe we are on the cusp of an explosion of Flow tokens over the next 12-24 months much like the last few months have been for NFTs on the network. 

Current Flow tokens

$FLOW: FLOW is the native currency for the Flow network like SOL for Solana, ETH for Ethereum and BNB for Binance Smart Chain. It is the exclusive token for staking, governance, payment of transaction fees, and the principal reserve asset on the network. More info.

$BLT: Blocto token (BLT) is the utility and governance token of Blocto, which serves as the foundation of the Blocto ecosystem and the interconnective link between the wallet, Blocto made products, and users. More info.

$REVV: REVV is the main utility token and in-game currency of the branded motorsports games produced by Animoca Brands. Initially launched as an ERC-20 token, REVV can now be bridged from Ethereum to Flow via the BloctoSwap teleport. REVV can be used to buy Flow NFTs from the official MotoGP™ Ignition Marketplace. More info.

$MY: The native utility and governance token of the Mynft NFT marketplace. The MY token incentivises Mynft's three participants: creators, consumers and token holders. More info.

$STARLY: Utility token which serves as a medium to offer creators, collectors and the surrounding communities the ultimate experience on Starly ecosystem. More info.

$FUSD: The first USD-backed stablecoin issued as a fungible token on Flow backed by Prime Trust. More info.

$USDC: USDC is one of the biggest stablecoins by market cap. It has also been launched as a native asset on top of Flow blockchain. More info.

Coming soon Flow tokens

$SOUND: SOUND functions as raw material for NFTs minted on RCRDSHP. As they push towards decentralization, SOUND token may also do double duty as a governance token so that holders can have a voice in strategic decisions that shape the growth of the SOUND ecosystem. SOUND describes itself as like the vinyl that went into making the record, not the music or the record itself. More info.

$CHEDDA: A FLOW-based token that can be used as currency on the Cheeze products such as the Photography marketplace. Originally looking to launch in April 2022. More info.

$DUST: DUST is the fungible token of Flovatar and the ‘Connector of Cosmos’. 40% of the total supply of $DUST will be allocated to Flovatars and their respective owners. It will be distributed daily to each Flovatar owner for free for the next ten years. More info.

$EMERALD (TBC): Fungible token on Flow native to Emerald City DAO. More info.

$FRUIZ: Fruiz is a dedicated digital currency that charges a 1% fee on every transaction that is automatically turned into a financial contribution to projects in the Zeedz project pool taking climate action. More info.

$GENI: Governance token for the GENIACE NFT collectibles marketplace. More info.

$JRX: The $JRX Token powers the economy across the network of games built on Joyride. More info.

$MOX: Moxy Platform’s primary utility token.

Even more Flow tokens

Other Flow projects such as Basic Beasts, Disrupt Art and more have also publicly expressed interest in releasing Flow tokens. On top of this, Flow-project Eternal is listed as an upcoming ICO on icodrops.com. With over 280 projects listed on the Flowverse website and many more building in stealth, it's also likely that the vast majority of fungible tokens being built on Flow are not covered here.

Where can I get further information on Flow tokens? 

Subscribe to the Flowverse newsletter and follow Flowverse on Twitter to be the first to receive information on any Flow token launches.