Flamingo (FLM) - friction-less access to Ethereum & Ontology Networks

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Written by

#Club1BCH

3 years ago

In community: Cryptocurrency and Blockchain(7b7f)

Topics: Blockchain, Finance, Crypto, Cryptocurrency, Technology, ...

Flamingo Protocol is a full stack decentralized finance platform build on NEO block-chain, with a high level of interoperability. The project is based in Singapore and aims to innovate the DeFi ecosystem with a bundle of add-ons which will provide a comprehensive infrastructure for users, including trading, staking and liquidity pools. The unique selling point will be frictionless access to ssets on the Neo, Ethereum, Ontology, COSMOS networks.

Wrapper is the name of the cross-chain gateway. It supports Ethereum (ETH), Bitcoin (BTC), NEO, Cosmos and ONT based block-chains and allows users to wrap tokens as NEP-5 tokens, and to reverse the process at any time.

Swap is the on-chain liquidity provider for wrapped assets, NEP-5 tokens and Flamingo Token. Users can trade token pair and provide liquidity for rewards. When choosing a token and quantity to trade, users will be matched with the price and quantity of the target token and instead of using a traditional buy/sell order book, the actions are pre-funded by on-chain liquidity pools in Swap.

Vault is the asset storage that allows users to stake the NEP-5 tokens for Flamingo (FLM) rewards or to stake tokens

Perp is an AMM-based perpetual trading platform. Traders will require FUSD to receive Flamingo (FLM) as a reward for trading activity.

The protocol governance is a DAO (Decentralized Autonomous Organisation), where holders can vote for changes in the platform parameters, issue tokens and adopt new features. The Flamingo will be completely leaded by the community on the long term. Through the DAO, holders can vote and receive Flamingo as a reward for their participation in governance

The Flamingo Community

The community will initially focus on Asia, Europe, and North America, and will gradually expand all over the world, as the project grows. The chosen growing strategies are marketing events for the NEO users, hosting AMA's to engage with the customers pool and attracting existing users from other DeFi platforms. The community expanded quickly and currently has 5 thousands followers on Twitter and nearly 4 thousands members on the Discord channel.

Binance Launchpool

After the success of Bella and Wing , Binance chosen Flamingo (FLM) as the 3rd project to be launched on the Binance Launchpool platform. All Binance users holding BNB or BUSD into the pools, farmed Flamingo (FLM) until the 27th of October.

A total of 6.25 million tokens were distributed, 4.17% of the total supply of 150 million tokens. The share will be 90% (5.6 million tokens) for Binance Coin (BNB) holders and 10% (625k tokens) for Binance USD holders.