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Flamingo is a platform that helps you convert tokens, be a liquidity provider and earn yield.
By providing liquidity, also known as staking, you earn yield by collecting fees and getting minted FLM as a reward.
Flamingo Finance makes it easy to buy/sell crypto, invest and earn revenue directly on the blockchain.
Flamingo Finance is a Decentralized Finance (DeFi) platform where users can convert assets, wrap assets, provide liquidity, and earn yield through staking. Flamingo's SmartStake feature enables users to perform all of these actions in a single click. The Flamingo token (FLM) functions as the rewards token users can earn by adding liquidity to liquidity pools and staking their liquidity pool tokens (LP tokens). The platform facilitates automated transactions between cryptocurrency tokens on the Neo N3 blockchain through the use of smart contracts. The project was initially launched by Neo Global Development* (NGD), underscoring Neo's vision to build the Smart Economy, of which DeFi is a crucial component. *Neo Global Development (NGD) is the execution arm under Neo Foundation.
Through PolyNetwork, the Flamingo protocol is connected with various heterogeneous blockchain networks, such as Neo, Ethereum, and Ontology blockchains. Users on Flamingo can leverage its interoperability to gain access to more assets within the broader blockchain ecosystem. Designed as a clustered DeFi protocol, Flamingo innovatively integrates the liquidity pool and the collateral pool in Earn. In current AMM-based DEXs, liquidity providers' capital efficiency is limited by LP token uses, leading some AMMs to become underutilized and poorly provisioned. High collateralization ratios in synthetic systems also lead to similar issues when users deposit assets to mint synthetic tokens.
Liquidity providers of FLM trading pairs can stake their LP tokens into the Earn module. Under this mechanism, capital efficiency is more than doubled. Furthermore, liquidity providers can continue to use the synthetic stablecoin fUSDT. Through these mechanisms, Flamingo promises to deliver unprecedented capital efficiency and liquidity compared to isolated DeFi protocols. Flamingo will distribute FLM 100% based on contribution to the platform with 0% pre-mining or team reserve. Flamingo aims to incentivize the broader community to participate in the Neo DeFi ecosystem. FLM is the project governance token and FLM holders can participate in governance through voting in DAO. As the project community successor, the Flamingo team contributes resources and presently governs the initial platform design to actuate the project at its early stage, to facilitate the long-term growth of the project. FLM holders are responsible for governing the Flamingo project, which includes but is not limited to: tokenomics, parameter configuration, and functionality improvements/changes. Anyone can become an FLM holder and join the community to shape the future of Neo's DeFi ecosystem. Anyone can submit proposals in DAO and FLM holders are entitled to voting rights for relevant proposals.
There are two types of proposals:
- Proposers can submit proposals to improve the overall system design of Flamingo, such as liquidity improvement plans, liquidation mechanism, risk control strategies, and etc.
- FLM holders can decide the most important metrics of Flamingo as well as the release schedule of FLM. Examples of the metrics include but are not limited to:
- FLM distribution mechanism
- Staking token whitelist/distribution FLM distribution mechanism
What is Flamingo (FLM)?
Flamingo is a decentralized finance (DeFi) platform based on the Neo blockchain and the Poly Network interaction protocol. It integrates several DeFi applications into a single ecosystem: a cross-blockchain asset gateway (shell), a blockchain-based liquidity pool (swap), blockchain asset storage, a perpetual contract trading platform (perp), and a decentralized governance organization (DAO).
The launch of various components of the Flamingo network is planned in several stages:
Shell for Bitcoin, Ethereum, USDT, Neo, Ontology and others: September 23, 2020
Swap and stake tokens to the liquidity pool: September 30, 2020
Storage launch and stablecoin release: October 28, 2020
Perp launch: November 25, 2020
DAO launch: December 23, 2020
