Fletcher

How FLTC works

Everything about Fletcher (FLTC) that I can show you, in plain words, with a link next to each fact so you can check it yourself.

I made this page because I'd rather you understand FLTC than trust me. It covers what the token is, who can change what, where every fee goes, where the tokens are, and what could go wrong. There are no prices here, and nothing on this page is a reason to buy.

Numbers on this page were read from the NEAR blockchain on 11 October 2026, unless a different date is shown. They will drift. The links let you read today's values.

1. What FLTC is

FLTC is a token on the NEAR blockchain. It is not its own blockchain. Think of NEAR as a shared public ledger and FLTC as one small program on it. That program keeps a list of who holds how much FLTC.

The token's public info (description, website, X handle) was approved by JustHoot DAO proposal #19, submitted 7 October 2026. That file's fingerprint matches what the contract reports today.

2. The contract: who can change what

The only real FLTC contract is:

fltc-af549c.launchpad.justhoot.near

The third letter is a lowercase L. Paste an address to compare it, or read how to verify.

Three parties matter here:

What the token contract has no way to do

  • No access keys. Nobody holds a private key for the token's account. It can only act through its own code. checked 11 Oct 2026
  • No mint. The current code has no function that creates new FLTC. Supply can only go down.
  • No freeze or blacklist. The current code has no function to freeze a wallet or take tokens from someone.

What I, the creator, can do

  • Change the token's picture and info file.
  • Hand the owner role to another account. The other account has to accept.
  • Move the token to the next code version, but only along an upgrade path the DAO already set. I can't pick or write the code.
  • Receive the creator's share of the fee (see fees).

I cannot change the fee rate or how it's split. Only the platform can.

What the JustHoot platform can do (through a DAO vote)

  • Change the transfer fee, up to a maximum of 5%. Today it is 0.1%.
  • Change how that fee is split between burn, holders and creator.
  • Upgrade the token to new code, change the owner, and change the name, symbol or decimals.
  • Collect the pool's earned fees and pay out the shares in batches. JustHoot runs helper accounts for this (reward-distribute.justhoot.near and dcl-pool-fee-bot.justhoot.near). They can run payouts, but they can't change the rules.

Changing the fee, split, owner or code needs a call from the launchpad, and only the DAO owns the launchpad. The launchpad's own account also has no access keys.

Code upgrades so far

The token has moved to new code three times since launch. Each move came from the JustHoot launchpad. The last two followed DAO proposals that anyone can read:

When (ET)What happened
4 Oct 2026First upgrade. Transaction
8 Oct 2026, 12:08 PMMoved to code 8vkaUP8K…, after DAO proposals #20 and #21. The old holders account was retired, and its 24,454.46 FLTC moved into the token contract to be paid to holders. Transaction
9 Oct 2026, 11:13 AMMoved to code 9afh213x…, after DAO proposals #25 and #26. This is the version running now. Fees now collect in the contract and are paid out in batches, with the holders' share paid in wNEAR. Transaction

The contract points to its source code on GitHub (Meteor-Wallet/hoot-launcher), but that page isn't public yet. JustHoot has said it will open the code after a third-party audit.

3. The fees, step by step

Two different fees apply when someone trades FLTC. They are easy to mix up, so here they are separately.

Fee 1: the 0.1% FLTC transfer fee

This fee is built into the FLTC contract. It is set to 0.1% as of 11 Oct 2026. The contract keeps 0.1% of the FLTC moved. On-chain, the contract's setting reads transfer_fee_pips: 1000, which is 1,000 out of 1,000,000.

That 0.1% is shared three ways, set by me at launch:

34%to the creator
33%burned
33%for holders

On-chain these read 3,400, 3,300 and 3,300 out of 10,000. They're in the launch transaction, and the contract's settings still show them today.

Not paid out right away. Since 9 October the fee first collects inside the token contract. JustHoot's helper account then pays it out in batches. The burn share is burned, and the creator and holder shares are swapped to wNEAR and sent on. The holders' wNEAR waits in the contract until JustHoot sends it out to holders.

All-time transfer fees charged: 81,451.06 FLTC as of 11 Oct 2026.

Fee 2: the 1% Rhea pool fee

The Rhea pool takes its own 1% from what goes into a swap. The pool's ID ends in |10000, which means 1%. FLTC's contract doesn't set this fee. It's a pool fee, like at any exchange.

Where the collected fees go in a batch

When JustHoot runs a batch, the contract adds the pool fees it earned to the transfer fees it kept. Then it shares the total using fixed weights that you can read on the chain (get_fee_split_weights):

Goes toWeightShare of a batch
JustHoot platform80,000,000about 88.9%
Creator (me)3,400,000about 3.8%
Burn3,300,000about 3.7%
Holders3,300,000about 3.7%

Here's how I read these weights. The pool's 0.8% share (80% of the 1%) goes to JustHoot. The 0.1% transfer fee is split 34 / 33 / 33. The numbers match that exactly, but I'm asking JustHoot to confirm it in writing (see open questions).

The first batch ran on 9 October 2026 at 11:49 AM ET (transaction). It burned 15,604.95 FLTC, sent 0.0173 wNEAR to me, sent 0.4061 wNEAR to JustHoot, and set aside 0.0168 wNEAR for holders. That holders' amount hadn't been sent out yet as of 11 Oct 2026.

A small worked example

Say someone sells 10,000 FLTC into the pool.

1. The FLTC contract keeps 0.1%, which is 10 FLTC. 9,990 FLTC arrive at the pool.

2. The pool takes 1% of the 9,990, which is 99.9 FLTC. Rhea keeps 20% of that (19.98). The other 80% (79.92) is earned by the pool position the token contract owns.

3. The rest is swapped for wNEAR and sent to the seller.

4. In the next batch, the 10 FLTC splits into 3.4 for the creator, 3.3 burned and 3.3 for holders. The 79.92 FLTC of pool fees goes into the same batch. By the weights above, that part goes to JustHoot.

A buy works the same way in reverse. The pool's 1% is taken from the wNEAR paid in, and the 0.1% is taken from the FLTC sent out.

Real examples you can open:

In each transaction's logs, look for the notes transfer_fee_held or transfer_fee. That's the 0.1% leaving the trade. Separately, every NEAR transaction pays a tiny network fee ("gas") in NEAR. That fee goes to the network, not to anyone above.

Burned so far

40,059.41 FLTC burned since launch as of 11 Oct 2026. That's the drop in total supply since just after the token was created. The fee page shows the live number.

4. Where the FLTC is

All of FLTC sits in just six accounts as of 11 Oct 2026, 11:20 AM ET:

AccountFLTCShare
Rhea pool dclv2.ref-labs.near960,481,11496.05%
Creator, me ruderice9599.near24,404,9292.44%
An unnamed wallet fb8803d7…d805e210,248,2471.02%
volat.near4,584,3720.46%
The token contract (fees waiting for a batch)224,8500.02%
enleap-test.near16,4290.002%

The FLTC in the token contract breaks down into 200,395.22 FLTC of fees waiting for the next batch and 24,454.46 FLTC from the old holders account, set aside to be sold for wNEAR for holders.

The old holders account, holders.fltc-af549c.launchpad.justhoot.near, has been empty since 8 October. The contract now describes it as "the old holders account", kept so explorers don't break. If you see it at zero, that's why.

Check it yourself:

5. How to check anything yourself

You don't need a wallet or an account. NearBlocks is a free website that shows what's on the NEAR blockchain.

  1. Go to nearblocks.io and paste fltc-af549c.launchpad.justhoot.near into the search box. Check it letter by letter. The third letter is a lowercase L.
  2. On the token page, check the name (Fletcher), symbol (FLTC), decimals (18) and total supply.
  3. Open the Holders tab to see the accounts in the table above, with today's amounts.
  4. Open the Transfers tab and click any trade. In the transaction's logs you'll see the FLTC moved, plus a small separate amount going to the token contract marked transfer_fee. That's the 0.1%.
  5. Search for ruderice9599.near to see my wallet and everything it has done.
  6. Search for justhoot.sputnik-dao.near to see the DAO that controls upgrades and fee settings.
For the curious: read the contract's settings directly

Anyone can ask the contract about itself. Reading costs nothing and changes nothing. With the NEAR command-line tool:

near contract call-function as-read-only fltc-af549c.launchpad.justhoot.near get_config json-args {} network-config mainnet now

That shows the owner, the fee (transfer_fee_pips), the split (shares), the pool and the code version. Other read-only methods worth trying: get_fee_state (fees waiting), get_fee_split_weights, get_total_transfer_fee, get_code_hash and ft_total_supply.

To read a DAO proposal, such as #19:

near contract call-function as-read-only justhoot.sputnik-dao.near get_proposal json-args '{"id":19}' network-config mainnet now

6. Risks

  • It can go to zero. FLTC is a tiny community token with very few holders. It may become hard or impossible to sell. Only use money you can afford to lose completely.
  • The rules can change. The JustHoot DAO can raise the fee (up to 5%), change the split, change the owner, or replace the code. A proposal needs 2 of its 5 members. Things described as "locked" today, like the pool liquidity, are locked by code that can be upgraded.
  • The code isn't public yet, and no audit has been published. I can show you what the contract does on the chain, but nobody outside JustHoot can read the full source yet.
  • Holder payouts depend on JustHoot. The holders' share is sent out by JustHoot's helper accounts, in batches, to a list JustHoot supplies. It isn't automatic, and the amounts so far are very small.
  • Supply is concentrated. About 96% is in the pool. I hold about 2.44%, and one other wallet holds about 1%. A large sale by any holder would move things a lot.
  • Bugs happen. Any smart contract, including the token, the launchpad or the Rhea pool, can have mistakes.
  • Copies and scams. Fake tokens copy names and logos. I will never message you first or ask for money or a recovery phrase. See Safety.

7. Open questions and what I'm working on

These are things I can't confirm yet. I'd rather list them than guess.

8. Short FAQ

Is FLTC its own blockchain?

No. It's a token (a small program) on NEAR. NEAR's network records every FLTC transfer.

Can John change the fee?

No. Only the JustHoot platform can, and only by a DAO vote, with a maximum of 5%. It has been 0.1% since launch.

Can more FLTC be created?

The current code has no way to create more. Supply only goes down. A future code upgrade, approved by the DAO, could change any rule, so watch the DAO's proposals.

Do I get paid for holding FLTC?

A holders' share of fees exists, and JustHoot pays it out in wNEAR, in batches. How recipients and amounts are chosen isn't confirmed yet, and with small trading the amounts are tiny. It isn't interest, and it isn't a promise.

Why does the holders account show zero?

It was retired on 8 October 2026. Its tokens moved into the token contract, and the holders' share now waits there as wNEAR until it's paid out.

Does John earn from trades?

Yes, a little. The creator gets 34% of the 0.1% transfer fee. In the first batch on 9 October that came to 0.0173 wNEAR. I plan to use it to improve the project. See how I handle my own tokens.

Where can I see the price?

This site doesn't show prices on purpose. It's a place to learn how things work.

Sources for this page: the FLTC contract's own read-only methods (ft_metadata, ft_total_supply, ft_balance_of, get_config, get_fee_state, get_fee_split_weights, get_total_transfer_fee and its published method notes), the launchpad's settings, JustHoot DAO proposals #19, #20, #21, #25 and #26, the transactions linked above, and JustHoot's public token data. Last checked 11 October 2026.