How To: Preparing Your Flote Wallet for V1.0

by | Mar 23, 2022 | Instructional | 3 comments

NOTE: This process is independent of the v1.0 release. There is no time pressure to complete this process. Your funds will NOT be considered “lost”, abandoned or donated unless we have tried for at least a year to reach you and give you your keys. I repeat: Your BTC balance is YOURS and is in no danger of being forfeit or lost as a result of the V1.0 release!

 

 

WHY THIS PROCESS IS NECESSARY

For those of you Flote members who use crypto and currently have balances in your wallet, we have good news as well as some info about how to prepare your account for the upcoming transition to our v1.0 release.

The release version of Flote will offer an updated and improved crypto wallet experience that will open us up to new and more powerful applications and features. In anticipation of that change, we’ll be disabling our existing wallets… which means we’ll need to get you access to your private keys to your current bitcoin address so that you can manage those existing balances yourself.

GETTING YOUR BTC

Let’s say you’ve got 100,000 sats in your current Flote wallet. What you’ll want to do is take control of that bitcoin address, import it into another wallet and dispense with the BTC however you like. You could spend it, donate it, buy Flote Tokens with it… whatever you like. The wallet, including the private keys, will be yours to manage as you like.

Now, getting those keys to you… that’s what we’re talking about today. Our team thought about the best way to do this… should we build a complex process that will only get used one time into the app and ask you to do all the work yourself? No, we decided… not only is that too complex but some folks may not even bother to go through it. What we absolutely want to do is make sure you have those keys… and the control and responsibility over your BTC that goes with them… so we’re going to hand them to you directly.

THE PROCESS

Our COO Alex Martin has taken the responsibility to reach out to each and every one of you directly, in person, to explain the process to you and make sure you take control of your BTC address and keys. Your data is currently being stored securely in an encrypted file vault and Alex will be contacting you individually at the address associated with your Flote account to give you the keys in a secure manner and confirm that you’ve got them.

Once this is done, the keys and the BTC address associated with them are yours and we will delete the information from our systems… so it’s important that you’re set and can can access the currency yourself.

So here’s the process written out step by step:

  1. Alex will contact you at the email address registered in your Flote account
  2. You will contact Alex back and specify how you would like to communicate the keys
  3. Alex will contact you via that method to transfer the keys to you.
  4. Alex will provide you with information as to how to link that address with a new or existing wallet.
  5. You will confirm that you have the keys and access to your BTC balance.
  6. Alex will delete your keys from our secured vault.

IN AN ORDERLY MANNER

Alex will be contacting wallet holders in order of BTC quantity starting with the largest wallet and working down. You’ll have the option to receive your keys and take control of your BTC or do nothing. In the event you choose to do nothing, your BTC balance will be pooled with the balances of others who make the same choice and donated to a good cause (either that or used as a prize for a future Flote promotion). 

We strongly recommend receiving your keys in as secure a manner as possible. Ideally an encrypted method such as Signal or via Telegram or similar text app. We also strongly recommend receiving the BTC address and public key by one method and the private keys by a different method so as to not combine all the information in a single channel.

In the event that you do not respond to our request, we will hold onto your address data until January 1, 2023 at which point all remaining BTC balances will be considered abandoned and donated.

QUESTIONS

We realize this process is somewhat unusual but we want to be clear… our objective is to give you control over your BTC. We will not ask for any other wallet addresses, nor will we ask for any BTC or any other identifying information. We encourage you to speak to Alex directly by voice and video if possible so that you will recognize him in order to protect yourself. Alex appears weekly on the Flote livestream channel so it should be easy to know that it’s him.

Flote takes your privacy and authority seriously and we intend to make this process as simple and painless as possible. We appreciate your attention to this matter and look forward to handing you your keys. Please feel free to email support@flote.app with any questions and keep an eye out for an email from alex@flote.app regarding your wallet.

MORE ABOUT FLOTE

Visit us at flote.biz for more blog posts, at flotetoken.com to learn about our crypto and NFT initiatives and at flotefest.com to learn more about how to attend our IRL events. But most of all, come to joinflote.com and join our growing community of Flote members. We’ll see you there.

 

3 Comments

  1. Openly Voluntary

    I do not currently have a wallet, should I wait until mid-April to set up my first?

    Reply
  2. Joel Ryals

    Does this apply if we set up the MetaMask wallet? I followed those instructions after getting my Flote Plank Owner NFT. Please let me know if I need to do something else.

    Reply

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