Flamingo.Finance - Innovative DeFi on the NEO blockchain
Flamingo Docs (Flamingo Litepaper, How to Set Up a Neo Wallet, How to Buy FLM Tokens, Swap):
---- https://docs.flamingo.finance/ ----
Social Media:
Twitter - https://twitter.com/FlamingoFinance
Discord - https://discord.com/invite/xGp9gbM
Medium - https://medium.com/flamingo-finance/
What is Flamingo (FLM)?
Flamingo Finance is a Decentralized Finance (DeFi) platform where users can convert assets, wrap assets, provide liquidity,
and earn yield through staking.
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).
Flamingo's SmartStake feature enables users to perform all of these actions in a single click.
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.
It has been in development for almost 2 years!!
*Neo Global Development (NGD) is the execution arm under Neo Foundation.
https://coinmarketcap.com/currencies/flamingo/
FLM Tokenomics
https://flamingo-1.gitbook.io/user-guide/v/master/flm-tokenomics
There is a hard cap of 1 Billion FLM tokens, to be minted and released into circulation over the next 17 years.
The total supply will be fully minted and released into circulation by the end of 2039.
At the time of writing, 337.6 Million (about 1/3 of the total supply) FLM tokens have been minted and are in circulation.
The current annual inflation rate (July) is 3.1%. Come December, 2022, the annual inflation rate will drop to 2.55%.
The annual inflation rate will continue to decrease monthly until January, 2033. It will then drop again January, 2037, and again October, 2039.
All 1 Billion FLM tokens will be minted and released by the end of 2039.
Why Flamingo.Finance?
It has been built on one of the fastest and best smart contract blockchains - NEO
High APY / high interest rates - currently 15%-115% (with restaking even 200%+)
Great team behind it - which is improving the platform even while you´re reading this line
Easy to use and innovative Shocked - see below for "Flamingo Flund Single-Stake Fund" and "Advanced Trade - Orderbook"
Useable on mobile via OneGate Mobile App - you can convert, stake, earn, claim rewards, and more, directly from your mobile device
Flamingo Bug Bounty Program - up to $1,000,000 USD rewards (to ensure a safe and trustly platform)
1st July 2022: users can now buy crypto with fiat on Flamingo.Finance!
"With Inst.Money, you can now buy crypto instantly. It’s fast, easy and secure, and right on Flamingo."
Flamingo Flund Single-Stake Fund
First and foremost, the Flamingo Flund is a DEX-Traded Fund (DTF), similar to an Exchange-Traded Fund (ETF).
Investors can invest FLM into the Flund to earn FLM yield.
https://flamingo-1.gitbook.io/user-guide/v/master/flamingo-flund-single-stake-fund
At the start, 1 FLM = 1 FLUND, currently 1 FLM = 0.84 FLUND. The value of FLUND is increasing over time, the more users use the platform.
"The FLUND tokens will increase in FLM value since it represents the investor’s share of the Flamingo Flund.
The Flamingo Flund grows every time a trade is made on Flamingo. For example, when someone trades 1,000 GAS to NEO on Flamingo,
they pay a fee of 3 GAS, of which 0.5 GAS (~16%) goes to the Flund. When investors enter or exit (buy or sell) the Flund, the assets that
have accumulated from fees, etc. will be converted to FLM (which we call a settlement) if certain conditions are met."
Example:
You bought 1000 FLUND for 1000 FLM at the start of FLUND (worth $100 at that time).
After 6 months you want to sell your FLUND with an APY of 100%.
Now 1 FLUND = 1,5 FLM, thanks to many fees from the platform users.
You get 1500 FLM now (worth 150$, if FLM price stays the same) So after 6 months, you get 50% return on your investment.
= No fear of impermanent loss.
Advanced Trade - Orderbook
https://medium.com/flamingo-finance/advanced-trade-now-live-on-flamingo-finance-a4264a564cfd
"Advanced Trade is a new trading section for advanced traders on Flamingo.Finance where you can search for and select trading pairs,
see data on the price history of trading pairs, execute trades, and more!"
For now, the Trade Panel only features market orders, but limit orders (together with a complete on-chain order book) will come soon.
NEW Information >>Limit Orders/orderbook coming begin August
The Team
The current team did take over from the original NGD team about 1 year ago. NGD wanted to pass on flamingo to the community, and mr.google
already created a few tools for them (smartstake). He then applied to take over flamingo and built a team around it. The real takeover happened about 8 months ago.
-> https://neonewstoday.com/general/mymingo-submits-application-to-manage-and-maintain-flamingo-finance/ <-
Mr.Google and some of the other flm members are doxxed, but do your own research.
Thanks for reading.