What is Fluence (FLT)?

Deep Dive

1. Purpose & value proposition

Fluence targets the $500B+ cloud market by creating a decentralized physical infrastructure network (DePIN). Its key advantages:

• Cost savings: Users reportedly save 30-70% versus AWS/Azure via competitive pricing from excess capacity (5 Case Studies)
• Anti-lock-in: Open architecture lets users switch providers without vendor dependency
• Dual revenue: Providers earn from active workloads and FLT rewards for idle capacity

Recent initiatives like confidential AI compute templates (June 2025 roadmap) and SpoonOS’s decentralized AI partnership (11 July 2025) expand use cases beyond basic cloud services.

2. Tokenomics & governance

FLT’s 1B max supply had 18.6% circulating (186.9M) as of Q2 2025, with:

• Staking: Providers lock FLT to guarantee service reliability
• Buybacks: 9 July 2025 data shows $92K monthly revenue funding token repurchases
• Concentration risk: Top 10 wallets hold 88.4% of supply, though 15.28M unclaimed FLT will return to DAO treasury (Q2 report)

The DAO manages a $13.8M treasury (371M FLT + $4.55M USDC), directing protocol upgrades and partnerships.

3. Ecosystem & adoption

• Revenue traction: $92K July 2025 revenue suggests accelerating adoption (9 July 2025)
• Developer activity: ETHGlobal Cannes hackathon produced AI/DeFi prototypes (7 July 2025)
• Liquidity concerns: $3.29M market cap faces thin trading (24h volume: $2.16M), with 90%+ price decline since 2024 highs

Conclusion

Fluence shows early product-market fit in decentralized compute, but token concentration and liquidity risks counterbalance technical progress. Can FLT’s buyback program and AI partnerships offset its supply distribution challenges?