Overview

The Auction Phase is the foundation of the FLEX ecosystem. It is the only period during which FLEX is initially distributed and the sole source of funding for Big Pay Days (BPDs). Every FLEX token that enters circulation during this phase is minted directly by the protocol according to predefined rules.

The auction runs for 150 FLEX Days, starting from Day 1. On each day, the protocol mints a fixed amount of FLEX and distributes it to participants who contribute USDT during that day’s auction. All contributions made on the same day are pooled together, and FLEX is allocated proportionally based on each participant’s share of the pool.

There are no private sales, no pre-sales, no seed rounds, and no hidden allocations. There is no early access and no preferential treatment. Every participant interacts with the same auction mechanism under the same rules, enforced entirely by smart contracts.

Participation in the auction is simple. A user contributes USDT during a given FLEX Day and becomes entitled to a share of the FLEX minted for that day. After the auction day ends, the user may claim their FLEX. At that moment, they must choose whether to receive FLEX as liquid tokens or commit it immediately as a stake. This choice is important, as it determines eligibility for Big Pay Days.

The auction phase serves two roles at the same time. First, it distributes FLEX to participants in a transparent and fair manner. Second, it accumulates USDT that is later used to fund Big Pay Days, staking rewards, liquidity provisioning, and operational costs, all according to fixed allocation rules.

Once the Auction Phase ends on FLEX Day 150, no further FLEX can ever be minted through auctions. From that point forward, new FLEX enters circulation only through staking inflation, and the auction mechanism is permanently closed.

This makes the Auction Phase both a distribution period and an accumulation phase. It is the moment where FLEX enters the ecosystem, participation is established, and long-term incentives are set in motion — all without discretion, governance, or manual control.