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  • Writer's pictureTraveler Jo

What's Going On With Freeloaderz?

What isn’t going on might be the better question. Freeloaderz is one busy group. If you haven’t checked them out, I would encourage you to do so. They are growing and building at astounding speed. The diverse team includes developers, artists, financial experts and writers. Santo and the other core members designed it that way so that it reflects the diversity of Cardano itself.

The big news of last week was that Freeloaderz received Catalyst F8 funding for their load balancer proposal. This funding will allow Freeloaderz to install an additional load balancer which will support growth and create additional redundancy in case of system failure. As this is a fairly straightforward project, the implementation should be completed shortly after funding is received.

In other news the SmartClaimz testnet is live and proceeding smoothly. The testnet opened to the public on May 1, 2022. SmartClaimz will take Cardano token distribution to the next level. It will interface with all Cardano Web3 wallets to allow for faster and less costly token distribution. The process will occur in a single transaction, instead of two. Additionally, users will be able to accrue transactions instead of having to claim them every epoch. The team is still early in testing and is targeting Q3 2022 for implementation.

As if all of this isn’t enough, Freeloaderz continues to solidify its governance structure through a DAO. This structure will allow members to propose initiatives and vote on proposals in an organized and straightforward way. $FLZ is the official governance token of Freeloaderz. There are a total of 500 million tokens. Most of these (76.6%) are allocated to the Freeloaderz treasury. The remainder will be distributed in different ways. Of course, core members will receive an allotment. There will also be distributions for project contributors and as a promotion for stake pools that join Freeloaderz. Airdrops for members will commence this month. The complete tokenomics diagram is available on their website for those who want to learn more. Additionally, there is a video interview with Stoic Pool which you can watch here:

Freeloaderz is a grassroots organization that was created by community members to address slow transaction times that occurred with the roll out of Sundae Swap. When they realized how much they could accomplish together, they started working on other projects. Now there is no stopping this hardworking team. They have one goal - to build products that enhance the Cardano ecosystem. With this laser-like focus and dedication, the future looks bright for Freeloaderz and for Cardano.

By Traveler Jo |

You can find Traveler Jo somewhere close to the sea. She loves Cardano, kayaking and food - not necessarily in that order. She's busy exploring the world, always in the company of her husband, tired dog and indignant felines.

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