TechFlow News — According to an official announcement from Conflux, after the mainnet launch, the foundation will deploy a conversion contract for converting FC to CFX (independent of the FC contract), and stake 21 million CFX within it for users to exchange. FC holders can deposit their FC into this conversion contract to receive CFX at a 1:1 ratio.
If users do not immediately withdraw their CFX after conversion but instead leave their CFX in the conversion contract, they will be eligible to share proportionally in staking rewards distributed from the 21 million CFX pool, with an annualized yield of 4%. Users may initiate withdrawals at any time, withdrawing both their principal CFX (converted from FC) and any additional CFX earned as rewards. All FC deposited into the contract will be permanently locked and removed from circulation. Users who deposit a cumulative amount exceeding 1,000 FC will receive an NFT as a commemorative badge.
After all 21 million FC have been distributed, the foundation will continue incentivizing community contributions using CFX instead. The issuance of new FC will cease, the FC minting privilege will be destroyed, FC will fully transition to community governance, and the foundation will no longer participate in any FC-related governance activities.
