After the success of Bella Protocol and Wing Finances, Binance announced the 3rd project to be launched on the Binance Launchpool platform. Now Binance Coin and Binance USD holders can farm an interoperable, full-stack decentralized finance protocol built on the Neo block-chain called Flamingo (FLM).
Flamingo is an interoperable DeFi protocol built on the Neo block-chain, and contains five elements: the gateway (Wrapper), the liquidity provider (Swap), the asset manager (Vault), trading platform (Perp) and the governance mechanism (DAO). The protocol was designed as a clustered DeFi, that can integrate the liquidity pool in Swap and the collateral pool in the Vault. No surpirses ... the logo is pink!
All Binance users holding BNB or BUSD into the pools, will farm Flamingo (FLM) tokens over 30 days. The campaign starts on Sunday 27th of September, for a month. The Flamingo (FLM) listing will take place next day, on Monday 28th, at 7 AM UTC, and will pair with Bitcoin, Binance Coin, Binance USD and Tether. A total of 6.25 million tokens will be 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.
Users can unstake the assets at any time during the campaigns, however, only the tokens in the spot wallet are available for staking into the Launchpool. Was announced that the Flamingo farming will not use the same mechanics as the Bella and Wing distribution.