Flamingo - an interoperable popular decentralized financial protocol, built on the Neo blockchain. The project consists of five main components, including Wrapper - an asset gateway, Swap - an online liquidity provider, Vault - a universal asset manager, Perp - an AMM-based perpetual contract trading platform and DAO - a decentralized governance mechanism.
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How does the Flamingo work?
Neo Global Development (NGD) has created the Flamingо project, which underlines Neo's vision of building a smart economy, of which decentralized finance is an essential component.
FLM - a Flamingо governance token that will be 100% community-distributed on a participatory basis. The game coin will go to the participants. At an early stage of the Flamingo project, FLM supplies will be distributed across the following use cases:
| The first way | Cross-chain asset staking (only during the first week of "Mint Rush"). |
| The second way | The rate of LP tokens, obtained by providing liquidity (after "Mint Rush"). |
System charges below 50 GAS are currently exempt from paying Neo and you will only pay for the excess. Currently, you cannot claim the GAS, generated by placing NEO in the Vault. The generated GAS will be locked into the Vault smart contract and the community can decide to use it when the DAO is launched. After the Mint Rush phase, users can only submit LP tokens to the Vault.
Mint Rush - a special phase, designed to encourage community participation in Flamingo. At this stage, users can bet on cross-chain assets directly and a total of 50,000,000 FLM will be issued. By listing their ERC-20 asset on Flamincome for profit, users can also use pegged assets, derived from the Ethereum DeFi (Flamincome) ecosystem, to participate in the Neo's DeFi ecosystem and receive FLM.
Additional information
Since the project is actively developing its social networks, you can find the information you need in its channels:
Also there you can find out about the upcoming updates, promotions and participate in contests.