hen it comes to the space of decentralized finance (DeFi), security is undoubtedly one of the biggest considerations.
And that’s no surprise. According to one analysis by the cryptocurrency analytics resource Chainalysis, October has become the biggest month in the biggest year ever for hacking activity. Up until the 13th, hackers had compromised a whopping $718 million worth of crypto.
Putting a strong emphasis on security, Flasko’s team has stated that it plans to lock liquidity for 33 years in a bid to eliminate all risks of potential rug pull. But what is Flasko? Let’s find out.
Whiskey and Blockchain Coming Together
Alternative investments are quickly moving to the center stage of the global investment scene. This is because they bring various opportunities outside of traditional portfolios. However, there’s a problem with that.
Retail investors are still unable to partake and include them, even though some of them tend to deliver relatively good returns.
Flasko brings forward a blockchain-based platform for investments designed to bridge the alternative investment industry and the cryptocurrency sector. To do so, it enables investors a way to invest in alternative assets – more specifically, the premium beverage market.
Using Flaskoanyone can benefit from the returns offered by the beverage investments industry by buying and selling non-fungible tokens (NFTs), backed by real-world investments.
How does it work?
The way the platform works is relatively simple, which is perhaps the reason why it’s also efficient. The analysts track the market daily and identify products that have the best potential for an increase in the future.
All of the whiskeys, wines and champagnes that Flasko acquires will be stored within license-bonded warehouses.
Anyone has the ability to purchase a fraction or 100% of an NFT that represents a certain product. If they purchase the entire NFT, they can have the investment that backs that NFT delivered to their designated address without having to pay additional charges. Imagine receiving a Dom Perignon 2002 to your front door!
Every single non-fungible token is designed to represent an individual investment or, potentially, a basket of products. Those tokens will also be tradable on the Flasko platform, which is intended to provide a frictionless way of buying and selling these alternative investments.
token stakers will also be able to vote and moreover decide whether Flasko sells the investments back to the global market or sells independently and then shares the revenue with token holders.
The Flasko token, FLSK, is the native cryptocurrency of the platform, and it has its supply capped at 1 billion tokens. As mentioned above, the team plans to lock the liquidity for 33 years with the intention of eliminating all the risks of a potential rug pull.