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About Flamingo
Key Points:
- Flamingo is a decentralized finance (DeFi) platform based on the Neo blockchain and Poly Network interoperability protocol.
- Components of the Flamingo network are planned to be launched in several phases:
- Token wrapper: September 23, 2020
- Swap and LP token staking: September 30, 2020
- Vault launch and stablecoin issuance: October 28, 2020
- Perp launch: November 25, 2020
- DAO launch: December 23, 2020
- Founder
About Flamingo Finance
Introducing Flamingo (FLM): A Comprehensive Overview
Flamingo is a decentralized finance (DeFi) platform built upon the Neo blockchain and the Poly Network interoperability protocol, seamlessly integrating a multifaceted ecosystem comprising a cross-blockchain asset gateway (wrapper), an on-blockchain liquidity pool (swap), a secure blockchain asset vault, a perpetual contract trading platform (perp), and a decentralized governance organization (DAO).
The rollout of the Flamingo network is slated to unfold in multiple phases, with various components set to debut at staggered intervals.
- Token wrapping for esteemed cryptocurrencies, including Bitcoin, Ethereum, USDT, Neo, and Ontology, among others: September 23, 2020
- Implementation of swap and LP token staking: September 30, 2020
- Inauguration of Phase 3 vault and issuance of stablecoins: October 28, 2020
- Launch of perpetual contracts (Perp): November 25, 2020
- Inauguration of decentralized autonomous organization (DAO): December 23, 2020
The Visionaries Behind Flamingo: Meet the Founders
At the helm of Flamingo is Da Hongfei, a renowned Chinese entrepreneur, who has also made a name for himself as the co-founder of Neo, a prominent blockchain network and a key competitor to Ethereum, upon which Flamingo is built. Additionally, Hongfei has co-founded OnChain, a private blockchain services company.
Holding a degree in English and technology from the South China University of Technology, Da Hongfei leveraged his experience as CEO of IntPass Consulting before venturing into the realm of coding and blockchain in 2013-2014, where he taught himself the necessary skills to thrive in this innovative space.
Unveiling the Unparalleled Flamingo: A Trailblazer in the Cryptocurrency Realm
Flamingo envisions itself as a unified platform that converges a multitude of decentralized finance tools for Neo, culminating in a cohesive ecosystem governed by its users through a decentralized autonomous organization.
Decentralized finance, a burgeoning phenomenon in the cryptocurrency realm, encompasses a diverse array of financial solutions that frequently operate atop cryptocurrency blockchains. Conceptually aligned with the overarching ethos of the cryptocurrency industry, DeFi platforms function as a secondary layer, eliminating intermediaries and singular points of failure from monetary and financial systems. Having emerged in early 2019, the DeFi industry had already amassed a staggering $4 billion in locked collateral assets by mid-2020.
Among the primary use cases in DeFi are cryptocurrency lending, yield farming, and decentralized exchanges. Notably, in most cryptocurrencies and their corresponding DeFi ecosystems, each of these solutions is typically offered by a distinct, standalone platform.
Flamingo’s distinctive edge stems from its ambitious endeavor to consolidate all pivotal financial instruments for the Neo cryptocurrency token, encompassing token wrapping, liquidity pooling, asset vaults, and contract trading, within a singular, decentralized platform, governed autonomously by its user community.
What Is the Circulating Supply of Flamingo (FLM) Coins?
FLM tokens are slated for release in multiple batches, with distribution allocated among ecosystem participants in proportion to their actual network engagement. Notably, Flamingo’s team underscores that no FLM tokens will be sold, minted, or allocated to the platform’s team prior to its public debut.
In the inaugural week following the debut of the Flamingo Vault, a period aptly dubbed the “mint rush,” a staggering 50 million FLM tokens are slated for distribution among staking pools.
Following the debut of Flamingo Swap (weeks 2-5), an additional 40 million FLM tokens will be allocated to liquidity providers.
Throughout weeks 6-9, a supplementary allocation of 30 million FLM will be disbursed among liquidity providers and FUSD minters.
Ultimately, during weeks 10-13, a further 30 million FLM are slated for distribution among liquidity providers, FUSD minters, and Flamingo Perp traders.
There is no cap on the total FLM supply, as following the initial minting period and the launch of the governing decentralized autonomous organization, the issuance and distribution of new FLM tokens will be contingent upon the collective consensus of the ecosystem’s stakeholders.
The Flamingo Network’s Robust Security Framework: A Comprehensive Overview
FLM is grounded in NEP-5, Neo’s token compatibility standard, thereby leveraging the robust security of Neo’s blockchain. Notably, Neo’s blockchain itself is fortified by a dual-layered security mechanism, comprising two robust hash functions: SHA-256, the same cryptographic algorithm that underpins Bitcoin (BTC), and RIPEMD-160.
Where to Acquire Flamingo (FLM): A Comprehensive Guide
As of October 2020, the FLM token remains inaccessible on all cryptocurrency exchanges, with the sole avenue for acquisition being direct participation in the Flamingo network. We will provide updates on this page once FLM becomes tradable on publicly accessible exchanges.
Associated Resources:
Delve deeper into the world of Neo by clicking
here
.
Delve into the realm of cryptocurrency with our esteemed educational portal, Alexandria, featuring an array of insightful tips and comprehensive guides to enhance your knowledge of the crypto universe.
Explore the latest insights and trends in the cryptocurrency realm at CoinMarketCap’s blog.