Information about "Flamingo"
What Is Flamingo (FLM)?
Flamingo is a decentralized finance (DeFi) platform that operates on the Neo blockchain and uses the Poly Network for interoperability. It integrates various DeFi applications into a cohesive ecosystem, including a gateway for cross-chain assets (wrapper), an on-chain liquidity pool (swap), a vault for blockchain assets, a platform for perpetual contract trading (perp), and a decentralized governance organization (DAO).
The launch of the different Flamingo components is scheduled to occur in several stages:
* Token wrapper for Bitcoin, Ethereum, USDT, Neo, Ontology, and more: September 23, 2020
* Swap and LP token staking: September 30, 2020
* Phase 3 vault launch and stablecoin issuance: October 28, 2020
* Perp launch: November 25, 2020
* DAO launch: December 23, 2020
The launch of the different Flamingo components is scheduled to occur in several stages:
* Token wrapper for Bitcoin, Ethereum, USDT, Neo, Ontology, and more: September 23, 2020
* Swap and LP token staking: September 30, 2020
* Phase 3 vault launch and stablecoin issuance: October 28, 2020
* Perp launch: November 25, 2020
* DAO launch: December 23, 2020
Who Are the Founders of Flamingo?
The mastermind behind Flamingo is Da Hongfei, a Chinese entrepreneur who is also recognized for co-founding Neo, a major competitor to Ethereum and the blockchain on which Flamingo is built. Additionally, Hongfei helped establish OnChain, a company offering private blockchain services.
Da Hongfei holds a degree in English and technology from the South China University of Technology. Before immersing himself in the blockchain industry in 2013-2014, he served as CEO of IntPass Consulting and taught himself coding.
Da Hongfei holds a degree in English and technology from the South China University of Technology. Before immersing himself in the blockchain industry in 2013-2014, he served as CEO of IntPass Consulting and taught himself coding.
What Makes Flamingo Unique?
Flamingo stands out as a unified platform that incorporates multiple decentralized finance tools specifically for Neo into an ecosystem managed by its users through a decentralized autonomous organization.
The decentralized finance (DeFi) sector is a rapidly expanding movement within the crypto space, featuring diverse financial solutions that typically function atop cryptocurrency blockchains. As a kind of second-layer industry, DeFi aligns with the broader cryptocurrency industry’s goal of removing intermediaries and single points of failure from financial systems. By mid-2020, just a year after its emergence, the DeFi field already had over $4 billion in locked collateral assets.
Key applications in DeFi include cryptocurrency lending, yield farming, and decentralized exchanges. However, in most cryptocurrency ecosystems, these services are typically offered by distinct platforms.
Flamingo’s distinct edge lies in its ambition to integrate all essential financial tools for the Neo cryptocurrency token—such as token wrapping, liquidity pooling, asset storage, and contract trading—into a single platform managed in a decentralized manner by its users.
The decentralized finance (DeFi) sector is a rapidly expanding movement within the crypto space, featuring diverse financial solutions that typically function atop cryptocurrency blockchains. As a kind of second-layer industry, DeFi aligns with the broader cryptocurrency industry’s goal of removing intermediaries and single points of failure from financial systems. By mid-2020, just a year after its emergence, the DeFi field already had over $4 billion in locked collateral assets.
Key applications in DeFi include cryptocurrency lending, yield farming, and decentralized exchanges. However, in most cryptocurrency ecosystems, these services are typically offered by distinct platforms.
Flamingo’s distinct edge lies in its ambition to integrate all essential financial tools for the Neo cryptocurrency token—such as token wrapping, liquidity pooling, asset storage, and contract trading—into a single platform managed in a decentralized manner by its users.
How Many Flamingo (FLM) Coins Are There in Circulation?
FLM tokens are designed to be released in several phases and allocated to participants in the ecosystem based on their involvement. The Flamingo team makes it clear that no FLM tokens will be sold, minted, or granted to the platform's team before its official public debut.
During the initial week after the Flamingo Vault's launch, known as the "mint rush" phase, 50 million FLM are to be distributed among staking pools.
Following the launch of Flamingo Swap (weeks 2-5), an additional 40 million FLM will be shared with liquidity providers.
Throughout weeks 6-9, another 30 million FLM are set to be distributed to liquidity providers and FUSD minters.
Lastly, within weeks 10-13, 30 million more FLM will be allocated to liquidity providers, FUSD minters, and Flamingo Perp traders.
There is no ultimate cap on the total supply of FLM: after the initial minting phase and the establishment of the decentralized autonomous organization governing it, the creation and distribution of new FLM tokens will depend on the consensus of the ecosystem's participants.
During the initial week after the Flamingo Vault's launch, known as the "mint rush" phase, 50 million FLM are to be distributed among staking pools.
Following the launch of Flamingo Swap (weeks 2-5), an additional 40 million FLM will be shared with liquidity providers.
Throughout weeks 6-9, another 30 million FLM are set to be distributed to liquidity providers and FUSD minters.
Lastly, within weeks 10-13, 30 million more FLM will be allocated to liquidity providers, FUSD minters, and Flamingo Perp traders.
There is no ultimate cap on the total supply of FLM: after the initial minting phase and the establishment of the decentralized autonomous organization governing it, the creation and distribution of new FLM tokens will depend on the consensus of the ecosystem's participants.
How Is the Flamingo Network Secured?
FLM operates on Neo's NEP-5 token standard, meaning it is secured by the Neo blockchain. Neo itself is protected by two cryptographic hash functions: SHA-256, which also secures Bitcoin (BTC), and RIPEMD-160.
Where Can You Buy Flamingo (FLM)?
As of October 2020, FLM tokens are not yet available for trading on any cryptocurrency exchanges. They can only be acquired through direct participation in the Flamingo network. We will provide updates when FLM becomes available on public exchanges.
