What Is Flamingo?
Flamingo is a decentralized finance (DeFi) platform built on the Neo blockchain ecosystem. It offers services such as token conversion, liquidity provision, and staking for yield earnings. Flamingo represents a significant advancement in the DeFi space by integrating various functionalities into a cohesive system.
The platform stands out for its user-friendly features, such as the Convert function, which uses an Auto Market Maker (AMM) system for easy token swaps. Flamingo provides detailed settings such as Slippage and Deadline, enabling users to manage their transactions more effectively and reduce risks linked to market volatility. The platform also offers a variety of asset actions including SmartStake, Convert, Wrap & Unwrap, Add Liquidity, Remove Liquidity, Stake, and Unstake, each designed to enhance the user experience and increase efficiency.
Flamingo stands out for its cross-chain interoperability and capital efficiency. It offers wrap and unwrap functions for tokens from various blockchains through PolyNetwork, enhancing asset access and liquidity. The features like staking LP tokens for superior returns and utilizing the synthetic stablecoin fUSDT demonstrate its leading role in liquidity and capital efficiency in the DeFi industry.
Additionally, Flamingo introduces a unique rewards and investment system, where users earn Flamingo tokens (FLM) by adding liquidity. These tokens can be invested in the Flamingo Single Stake Fund (FLUND), a DEX-Traded Fund (DTF), for sustainable, non-inflationary returns. The platform ensures a lasting and user-focused reward mechanism by converting fees and assets into FLM.
What Is the FLM Token?
The Flamingo token (FLM) serves as the primary reward token on the Flamingo platform. It incentivizes liquidity providers and engages users by offering FLM for adding liquidity to pools and staking their liquidity pool tokens, known as LP tokens.
There’s a maximum supply of 1 billion FLM tokens, which will be gradually released over 17 years, with full circulation expected by the end of 2039. Currently, about one-third of this total supply is in circulation. FLM tokens are minted in real-time and distributed as rewards for liquidity provision or holding a portion of the platform’s DEX-Traded Fund (DTF), the Flamingo Single Stake Fund (FLUND). This process introduces controlled inflation to the token, with the rate progressively slowing over time.
Flamingo Stablecoin (FUSD)
Flamingo’s stablecoin, FUSD, is a decentralized, over-collateralized USD stablecoin developed on the Neo N3 blockchain. Designed to maintain its value at a constant, typically around $1.00, FUSD’s stability is ensured through collateralization by mainstream Neo N3 assets available on Flamingo, such as Flamingo Single Stake Fund (FLUND), bNEO, and fWBTC.
Users can mint FUSD by opening a Vault in the platform and depositing one of these collateral tokens. Each Vault is linked to a specific collateral asset, enabling users to take out FUSD as a loan against their collateral. Currently, users have the option to open up to three Vaults, each for a different collateral token. This provides security for lenders, as they can seize and sell the collateral in case of a default, thus mitigating default risk.
What Is FLM Tokenomics?
FLM
- Week 1: Launch of Wrapper and Vault, distributing 50 million FLM tokens for staking whitelisted tokens in the Wrapper (e.g., NEO for nNEO, ETH for nETH).
- Weeks 2-5: Introduction of Swap, the on-chain AMM, rewarding 40 million FLM tokens to users contributing whitelisted tokens to Swap’s liquidity pools.
- Weeks 6-9: Roll-out of FUSD, a NEP-5 collateral-backed synthetic stablecoin, distributing approximately 30 million FLM to Swap liquidity pool contributors and those who mint FUSD.
- Weeks 10-13: Release of Perp, Flamingo’s AMM-based perpetual contract exchange, allocating 30 million FLM to users providing liquidity in perpetual contracts, Swap pools, and minting FUSD.
FUSD
How to Buy and Trade FLM Tokens?
WEEX Exchange has listed Flamingo (FLM) spot and USDT Futures, both supporting zero-fee trading.
