#币安Alpha上新 #Flytrade

Binance Alpha will launch a new project, Flytrade ($FLY), which is a DeFi trading platform built around 'real trading incentives'. Its core goal is to provide the best solutions in terms of trading costs, capital efficiency, and user incentives.

Many partners may not be familiar with its situation, so here is a brief introduction.

1. Project Overview

Flytrade is a decentralized trading platform designed based on the ve(3,3) model, launched by Sonic Labs. The project aims to create a win-win Flywheel system among 'traders × voters × protocols', driving liquidity growth through trading efficiency and guiding capital to operate efficiently within the platform through innovative mechanisms. Its core vision is to become the liquidity hub with the highest trading efficiency and the best incentive mechanism in the DeFi world.

2. Product Mechanism and Technical Design

1. Flywheel Incentive Engine

The core mechanism of Flytrade, 'Flywheel', achieves a positive cycle between traders and voters by binding trading incentives with voting rights:

  • Traders enjoy the lowest slippage and protocol incentives;

  • Voters can control token emission flow through governance, prioritizing support for the asset pools that contribute the most, obtaining incentives and Bribe profits;

  • Both enhance platform trading volume and capital efficiency, thereby benefiting protocol revenue.

2. xFLY Locking Mechanism

Users can obtain xFLY by locking $FLY tokens, amplifying their yield weight based on the locking time (up to 10 times). xFLY has voting rights, profit-sharing qualifications, and can obtain additional incentives (Bribe) provided by project parties and token issuers, making it a core asset for platform governance.

3. FLY33 Automatic Compound Interest Strategy

FLY33 is a one-click automation tool aimed at ordinary users: the platform automatically handles voting, profit reinvestment, and Bribe profit aggregation, helping users maximize returns and lower strategy thresholds. It is an effective exploration of the veToken model and the simplification of DeFi investments.

3. Industry Track and Differentiated Positioning

The industry track that Flytrade is in is represented by DEX platforms like Curve and Velodrome, which use the 'veToken + Bribe' mechanism. However, unlike the old model that relies on institutional large holders to drive liquidity, Flytrade emphasizes 'real trading volume-driven incentives' and optimizes the participation experience for small and medium wallet users through tools like xFLY and FLY33, attempting to achieve a wider adoption of the ve model.

4. Project Progress and Community Dynamics

The project will officially launch on June 6, 2025, through Binance Alpha, and has also started user registration, preheating activities, and AMA education. The team publishes educational content through social media to guide community participation in the Flywheel incentive system. Early participants will have the opportunity to receive more $FLY allocations or ecosystem bonuses.

5. Token Model and Incentive Structure

$FLY is the native token of Flytrade, used for:

  • Participating in platform governance, profit-sharing, and voting rights allocation after locking for xFLY;

  • Participating in Bribe incentives, directly linked to trading volume and voting quantity;

  • Unlocking strategies like FLY33 for compound interest functions.

Currently, the official detailed token distribution plan has not been disclosed, but it has been revealed that some tokens will be used for early trading incentives and community building.

6. Market Prospects and Potential Risks

Flytrade attempts to achieve innovative breakthroughs in the governance and incentive mechanism of DeFi, especially having certain differentiated advantages in the mechanism design of 'wallet-friendly for all scales' and 'trading behavior-driven incentives'. However, the current competition in the ve model-related tracks is fierce, and whether Flytrade can quickly attract sufficient liquidity and form a governance participation foundation will determine whether its Flywheel system can operate successfully.

7. Summary

Flytrade is a new DEX project built on the ve(3,3) model, binding the interests of traders and voters through the Flywheel mechanism, driving trading efficiency and ecological growth through mechanisms. With the upcoming launch, the project is expected to bring new vitality to the DeFi incentive model, but its subsequent TVL growth, Bribe market activity, and community governance breadth remain to be observed.