Datamine FLUX Label Update Requested on Tracking Platforms
💡 AI Article Summary
To prevent confusion within the decentralized finance space, Datamine Network has contacted major token tracking platforms, including CoinGecko and CoinMarketCap, to update the display label for its utility token.
Resolving Ticker Overlap
Recently, the blockchain project ZEL announced a rebrand to FLUX. Because Datamine Network launched its native utility token under the FLUX ticker on June 8, 2020, this overlap can lead to search confusion and display errors on global indexers.
To ensure market clarity, Datamine Network has requested that platforms list the token specifically as Datamine FLUX. This update allows both networks to maintain their respective identities and tickers without creating friction for users searching for authentic smart contract data.
The Role of Datamine FLUX
Ensuring accurate data representation is critical to the Datamine ecosystem. FLUX is a decentralized utility token minted on Layer 1 (Ethereum) by locking the foundation token, DAM. FLUX can be burned to boost minting rewards or bridged to Arbitrum (Layer 2) to lock for ArbiFLUX, driving the network's unique proof-of-burn and yield mechanics.
👋Hey coingecko and CoinMarketCap
$ZEL is rebranding to 
FLUX. Can we change the labels for our FLUX token to "Datamine FLUX" ?
This will eliminate any confusion/frustration. And we can be one big happy blockhain family with same FLUX tickers👍
https://t.co/EsnZs3DP0q https://t.co/9eFL4hKure
Frequently Asked Questions
Why is Datamine requesting a label update for its token?
Datamine has requested that CoinGecko and CoinMarketCap update the token display name to "Datamine FLUX" to avoid ticker confusion with another project, ZEL, which is rebranding to FLUX.
When was Datamine FLUX originally launched?
Datamine FLUX was launched on June 8, 2020, as part of the initial smart contract deployment on the Ethereum mainnet.
How does FLUX fit into the Datamine Network?
FLUX is the utility token generated by locking the foundation token, DAM. It can be bridged to Layer 2 (Arbitrum) or burned on-chain to permanently increase minting yield.
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