[{"category":{"name":"BitScreener Exclusive","exported_url":"bitscreener-exclusive"},"id":"e07b44f0-2c4d-45b2-82e3-324f3209faae","updated_at":"2022-06-14T11:44:00+00:00","account":{"firstName":"Mason","lastName":"Thompson"},"description":"Most blockchain networks nowadays aim at the same target of creating a smart economy in which decentralized finance (DeFi) is a key component. Developed on NEO blockchain, Flamingo is a DeFi protocol integrating multiple modules and enabling users to partake as traders, stakers, and liquidity providers. Let’s take a deep dive into Flamingo (FLM)!","sapo":"Most blockchain networks nowadays aim at the same target of creating a smart economy in which decentralized finance (DeFi) is a key component. Developed on NEO blockchain, Flamingo is a DeFi protocol integrating multiple modules and enabling users to partake as traders, stakers, and liquidity providers. Let’s take a deep dive into Flamingo (FLM)!","title":"Flamingo (FLM): Is It A Good Investment?","content":"

What is Flamingo?

Flamingo is a full-stack decentralized finance (DeFi ) platform based on the NEO blockchain and the Poly Network interoperability protocol.

Flamingo empowers users to convert assets, wrap assets, provide liquidity, and earn yield through staking, collecting fees, and getting minted FLM as a reward.

Flamingo stimulates automated transactions among cryptocurrencies on the NEO N3 blockchain through the use of smart contracts.

Incubated by Neo Global Development (NGD), the Flamingo project derives its support to transform the governance mechanism from Proof-of-Authority (POA) into a DAO, turning Flamingo into a completely community-run project.

The Flamingo project is assembled by several asset actions for users to perform via the Asset Actions tab, including SmartStake, Convert, Wrap & Unwrap, Add Liquidity, Remove Liquidity, Stake, and Unstake.

About Flamingo (FLM) token

Flamingo (Symbol: FLM) is the governance token powering the entire Flamingo ecosystem, basically used to incentivize liquidity providers or participants on the platform.

FLM will function in the following use cases:

Staking cross-chain assets
Staking Liquidity Provider (LP) tokens
Minting FUSD, Flamingo's synthetic stablecoin asset
Depositing FUSD as margins to trade perpetual contracts
Participating in voting for DAO governance

How Flamingo works

Flamingo develops a wide range of products working cooperatively within the platform, including:

Wrapper: A cross-chain asset gateway allows users to swap BTC, ETH, NEO, USDT, and ONT on the Neo blockchain under the NEP-5 token to the native token and vice versa.
Swap: An on-chain AMM provides liquidity for wrapped assets by depositing tokens via trading pairs.
Vault: An one-stop asset manager that integrates staking/mining assets and issues collateralized stablecoins.
FUSD: A Flamingo collateral-backed synthetic stablecoin, pegged to USD, enables users to mint, burn and receive FLM tokens.
Perp: A perpetual contract exchange is based on AMM for most underlying assets with infinite liquidity.
DAO: Decentralized governance in Flamingo management will be completely given to the community regarding tokenomics, parameter configuration, and functionality improvements/changes.

Flamingo is a DeFi protocol that integrates multiple modules to present a comprehensive DeFi infrastructure. Users can partake in Flamingo as traders, stakers and liquidity providers respectively or simultaneously.

Features of Flamingo

Aiming to become the stepping stone to advance Neo's DeFi ecosystem development, Flamingo differentiates itself from other platforms with the following distinctive features:

Interoperability: Through the Poly Network, the Flamingo protocol is connected to different blockchain networks, facilitating users to access further assets within the vast blockchain ecosystem.
Capital use efficiency: LP tokens of FLM trading pairs in Swap can stake LP in Vault while mining FUSD simultaneously, leading to the doubled capital efficiency. Flamingo is expected to promote liquidity and capital efficiency to the fullest extent compared to isolated DeFi protocols.
Fair launch: Flamingo will distribute FLM tokens based on the contribution before mining or team reserve, decided by the DAO through FLM votes in the long term.

Who is behind Flamingo?

In 2020, Flamingo was founded by Da Hongfei, a Chinese entrepreneur and the founder of the NEO blockchain network - one of the major competitors to Ethereum. Also, he is a co-founder of OnChain, a private blockchain services company.

Outlook on Flamingo (FLM)

As the first DeFi project run on the NEO blockchain network, Flamingo was born with the mission of becoming a jumping-off point to foster the development of the NEO DeFi ecosystem.

Flamingo encourages all community members to actively come up with suggestions to further optimize and evolve a stronger Flamingo ecosystem.

On June 13, 2021, the FLM token experienced an unexpected rally of 30%, pushing its price to the highest point during the past 30 days. The token is trending all over the crypto market, proving itself a crypto asset worth considering.

Explore all the trending topics and hottest news in the crypto market with our Blogchain.

Meanwhile, practice trading, play virtual money and earn real tokens with CryptoSim - Virtual Trading Game.

","tags":[],"image":{"fileName":"flamingo-flm-deep-dive.jpg"}}]

Flamingo (FLM): Is It A Good Investment?

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