Just now hearing about this. How are the FYP tokens used? Do I need them to use the exchange?
FYP Tokens are ERC20-based Ethereum tokens. Each and every FYP Token is divisible, equal to each other and has exactly the same qualities, properties, and characteristics. FYP Token owners will receive several benefits including propose new features and coin additions, 50% share of the profits generated by the Fyp.me exchange will be distributed to FYP Token owners in proportion to their ownership of tokens.
We believe that by providing 50% of the profits generated by Flyp.me as well as distributed policy-making and other benefits to token owners, Flyp.me can help rebalance the power between crypto holders and the crypto exchange business. Additionally, 50% profit sharing is an incentive for token owners to use the Flyp.me exchange as owning tokens in conjunction with using the exchange will effectively reduce their exchange rate.