1) The background! FLIX allocation for StreamSwap

Flix Fam, a recent governance proposal (Prop #7 on OmniFlix Hub) was approved, allocating 5 million FLIX for StreamSwap. It's important to note that the entire 5 million FLIX is not designated for the first stream alone but is distributed across all StreamSwap streams. This resulted in the initial FLIX/OSMO stream utilizing 1 million FLIX.

Following the first stream, the second stream has been planned with ATOM, and the third with USDC.
The ATOM stream aims to foster collaboration and reach a wider audience within the interchain ecosystem, while the (Axelar) USDC stream is designed to introduce community members from other ecosystems to the Cosmos ecosystem. This will be achieved through StreamSwap on Osmosis, using USDC to swap with FLIX.
The details of the ATOM stream are outlined in the article below, while the specifics of the USDC stream will be released at a later date.

The first stream where FLIX was swapped with OSMO, completed on 20th April, 2023.

Screenshot of the proposal on MintScan.io/omniflix

After the StreamSwap stream, the FLIX/OSMO AMM Pool (#992) on Osmosis was created and is now live with healthy liquidity of over $500K and external (FLIX) LP incentives.

On April 21st, inflation was enabled on OmniFlix Hub enabling delegators to receive rewards for securing the network.

2) About StreamSwap

The StreamSwap protocol is a smart contract on Osmosis (deployed via Osmosis Proposal 483) that enables a time-based token swap mechanism, allowing for fair price discovery process and equitable distribution of tokens. Osmosis is the DeFi app-chain with the highest liquidity of the interchain ecosystem, built using the Cosmos SDK & powered by CosmWasm smart contracts.

Read more about StreamSwap on the official StreamSwap blog 👇

3) Announcing the FLIX / ATOM Stream

Fam, we are thrilled to announce the FLIX/ATOM StreamSwap stream!

Details below 👇

a) Tokens - for Streaming & Subscription

500K (or 500,000) FLIX will be streamed to swap with
ATOM (on Osmosis), which can be used to subscribe

b) Bootstrapping Phase

Duration — 50hrs
Bootstrapping Phase Start Time — 4pm UTC on May 4
Bootstrapping Phase End Time — 6pm UTC on May 6

c) Streaming Phase

Duration — 9hrs
Streaming Phase Start Time — 6pm UTC on May 6
Streaming Phase End Time — 3am UTC on May 7

d) Points to remember

There’s no vesting or lockup involved and FLIX can be redeemed immediately after the Streaming Phase ends
Note that the 6pm UTC time was chosen to ensure that the phases started right after the epoch time when there’s activity on Osmosis Zone

4) Participation in the FLIX / ATOM stream on Osmosis mainnet

To participate in the FLIX/ATOM StreamSwap, ATOM community members can follow the steps outlined below:

Visit the StreamSwap app during the Bootstrapping Phase.
Cross check if it is the right stream only on app.StreamSwap.io and check for the stream with 500K FLIX and accepting ATOM (i.e. the FLIX/ATOM stream)
Use ATOM tokens to subscribe to the stream
Monitor the progress of the stream during both the Bootstrapping and Streaming phases.
1. During the Bootstrapping Phase, no swaps happen and NO ATOM are spent at all. This is a phase for subscribers to get ready for the Streaming Phase.
2. During the Streaming Phase, ATOM is spent and FLIX are streamed & swapped every second.
  1. Please note that, a subscriber’s ATOM are NOT spent at once. They are spent every second.
  2. Subscribers can deposit or withdraw their ATOM tokens at any point in time during either phase.
After the Streaming Phase ends, subscribers can redeem tokens received based on their share of subscription (deposits) in ATOM

Check out the below explainer video and read the article (very important!), to better understand the StreamSwap Mechanism and get a hang of the process:

5) Why ATOM?

Recognizing the need to involve the wider Cosmos community, we are excited for the upcoming FLIX/ATOM StreamSwap stream on Osmosis, offering the opportunity for ATOM holders to get involved in the Interchain Media Hub's future.

This decision paves the way for the Cosmos community to get involved with FLIX by way of ATOM, expanding the token's reach within the Cosmos ecosystem at large.

Txs where the demand for FLIX from and for ATOM is visible. Rest of the txs in the hour have been removed using inspect in the browser (source: info.Osmosis.zone)

6) Catering to the community: Ensuring liquidity and fostering connections

At present, the main sources of liquidity of FLIX in the market come from:

Staking rewards for StreamSwap subscribers
Delegators who acquired their FLIX on Osmosis and
incentives offered to liquidity providers on Osmosis Pool #992 (FLIX/OSMO)

These efforts have led to ~1M FLIX being delegated by the community from a staking standpoint and a robust $500k+ USD in liquidity so far, making Osmosis the go-to DEX for acquiring FLIX.

Screenshot of the FLIX/OSMO Pool #992 on Osmosis

OmniFlix believes that the FLIX/ATOM StreamSwap stream will not only introduce additional liquidity into the market but also serve the current demand for FLIX. This strategy aims to balance token distribution and strengthen ties with the Cosmos Hub.

Utilizing ATOM helps balance the token demand within the broader Cosmos ecosystem. This initiative is expected to draw participants from other ecosystems to the Cosmos network, contributing to overall growth and success at a time when interoperability and ICS are gaining prominence.

StreamSwap, the perfect example of the interchain ecosystem in action, is a transaction on a:

time-based token swap protocol on Osmosis,
Powered by CosmWasm smart contracts where
FLIX (from the OmniFlix Hub) is swapped with
ATOM (from the Cosmos Hub)

This approach results in an increasingly diverse set of token holders and positions the OmniFlix Hub to have a substantial stake with ATOM.

The coexistence of the AMM pool and StreamSwap stream promotes a thriving ecosystem. While StreamSwap facilitates price discovery at launch, it also enables community-driven price discovery for tokens post-launch.

Even with the StreamSwap stream, until FlixDrop, staking rewards and incentives for liquidity provision remain significant means of liquidity distribution to the community. There will be a gap of at least 10 days before the next stream (in USDC) goes live. This staggered liquidity distribution model (including the FLIX Drop) ensures that the impact of these events is not sudden and is spread over a period of time, allowing community members to strategize the most effective way to get involved.

8) Upcoming events

Check out the upcoming OmniFlix events timeline for the next few days:

Early contributors and investors (first batch), who have long been familiar with OmniFlix and supported in the growth of the network, will receive their vested tokens on or before the FLIX/ATOM stream
1. All tokens are vested on an avg. for 1yr with periodic vesting
2. Early contributors receive grants for their contributions till date.
3. Investors receive tokens for their financial backing at StreamSwap price.
4. All stakeholders will receive tokens in a vested format with varied schedules.
5. There will be a batch 2 that’ll be processed before/around FlixDrop
FLIX/ATOM StreamSwap Stream
1. StreamSwap App URL - https://app.StreamSwap.io
2. Bootstrapping on May 4th at 4pm UTC
3. Streaming on May 6th at 6pm UTC
FLIX/USDC Stream in May between 16th and 30th of May (to be announced)
Mint for Hope campaign with Curt Schilling (Major League Baseball Player) supporting ALS
FLIX Drop in June with a testnet mostly in May for eligible users to test the claim process

9) To sum it up!

The upcoming FLIX/ATOM StreamSwap is an exciting opportunity for the ATOM community to engage with the Interchain Media Hub's operations and be a part of the vibrant & fast growing community.

As StreamSwap protocol continues to evolve, it will unlock new possibilities for high-value swaps, community pool diversification, and token swaps without affecting the AMM pool (for now!), making it a vital tool & lego block for the future of DeFi.