This proposal initializes the grant of FLT tokens to holders of FPT token.

Determination of benefits:

• FPT holders outside of the United States will be entitled to issuance of FLT, as set forth below in greater detail.
• FPT holders who are within the United States shall be entitled to a refund of their purchase price in USD equivalent (stablecoin) in connection with their purchase of FPT tokens. FPT sale was not allowed for the United States residents and Fluence DAO can’t change it.

Terms:

• FLT should be granted with x10 multiplier: 1 FPT = 10 FLT. Initially in 2017, 6 million FPT were sold to represent 6% of future token supply, but the Fluence DAO minted 1 billion FLT.
• Granted FLT will be subject to 1 year lock up from the date of claim.

Claiming process:

• The DAO governance committee will be responsible for processing claim requests for both FLT grants and fiat refunds.
• 60 million FLT will be allocated to the Fluence DAO multisig wallet, controlled by the DAO governance committee.
• The option to claim FLT will expire after five years. Any unclaimed FLT remaining will be returned to the Fluence DAO treasury.

Eligibility:

• Proof of ownership of a wallet that holds FPT must be required for all claims.
• In order to be eligible for FLT issuance, holders must submit proof of residency outside of the United States.
• Access to the wallet holding FPT is required; if wallet access has been lost, the claim is not valid.
• FPT holders who took the buyback in 2018 are ineligible to claim FLT.