0%

Binance Launchpool Project #3 - Flamingo - An Interoperable Full-Stack DeFi Protocol on Neo

Sep 23, 2020 3 min read
News Article Banner Image

Flamingo is an interoperable, full-stack decentralized finance protocol built on the Neo blockchain. Flamingo is composed of five main components, including Wrapper - a crosschain asset gateway, Swap - an on-chain liquidity provider, Vault - a one-stop asset manager, Perp - an AMM-based perpetual contract trading platform, and also DAO - a decentralized governance mechanism. FLM is the governance token of Flamingo and will be 100% distributed to the community based on participation.

Flamingo is based on Neo, which launched the Poly Network, an interoperability protocol together with Ontology, and Switcheo Network. Designed as a clustered DeFi protocol, Flamingo innovatively integrates the liquidity pool in Swap and the collateral pool in Vault. Flamingo will distribute FLM 100% based on contribution to the platform with 0% pre-mining or team reserve. FLM distribution in the early stage will be determined by the Flamingo Team, and the long term distribution of FLM will be determined by DAO through FLM voting.

Being the part of Launchpool, users will be in a position to stake their BNB and BUSD tokens into two liquidity pools to farm FLM tokens, starting from 2020/09/27 at 0:00 AM (UTC). Binance will list FLM token on 2020/09/28 at 7:00 AM (UTC) and open trading for FLM/BTC, FLM/BNB, FLM/BUSD and FLM/USDT trading pairs.

The FLM Launchpool will not use the same participation mechanics as the BEL and WING Launchpools. Further information will be released in a later announcement.

“Many members of the team, the community and also myself are all very optimistic about the future direction of DeFi. We believe that it’s going to change the existing financial paradigm. Neo, as a digital asset protocol, has a relatively mature smart contract system, a large asset volume, and an active community across the world, which makes Neo a good fit for DeFi. We believe, as a  full-stack crosschain DeFi protocol, Flamingo will change current DeFi”, said Da Hongfei, Founder of Neo.

“Binance Launchpool continues to introduce the promising DeFi projects to our community. With its breakthrough technology, Flamingo is delivering optimized user experiences by integrating platforms for improved liquidity, capital efficiency, and reduced investor risk”, said Binance CEO and Founder, CZ (Changpeng Zhao). “We are happy to support Flamingo's aim at becoming a full-stack DeFi protocol and welcome the project to Binance Launchpool”.

Learn more about Flamingo from Binance Research’s in-depth report here.

Popular news

How to Set Up and Use Trust Wallet for Binance Smart Chain
#Bitcoin#Bitcoins#Config+2 more tags

How to Set Up and Use Trust Wallet for Binance Smart Chain

Your Essential Guide To Binance Leveraged Tokens

Your Essential Guide To Binance Leveraged Tokens

How to Sell Your Bitcoin Into Cash on Binance (2021 Update)
#Subscriptions

How to Sell Your Bitcoin Into Cash on Binance (2021 Update)

What is Grid Trading? (A Crypto-Futures Guide)

What is Grid Trading? (A Crypto-Futures Guide)

Start trading with Cryptohopper for free!

Free to use - no credit card required

Let's get started
Cryptohopper appCryptohopper app

Disclaimer: Cryptohopper is not a regulated entity. Cryptocurrency bot trading involves substantial risks, and past performance is not indicative of future results. The profits shown in product screenshots are for illustrative purposes and may be exaggerated. Only engage in bot trading if you possess sufficient knowledge or seek guidance from a qualified financial advisor. Under no circumstances shall Cryptohopper accept any liability to any person or entity for (a) any loss or damage, in whole or in part, caused by, arising out of, or in connection with transactions involving our software or (b) any direct, indirect, special, consequential, or incidental damages. Please note that the content available on the Cryptohopper social trading platform is generated by members of the Cryptohopper community and does not constitute advice or recommendations from Cryptohopper or on its behalf. Profits shown on the Markteplace are not indicative of future results. By using Cryptohopper's services, you acknowledge and accept the inherent risks involved in cryptocurrency trading and agree to hold Cryptohopper harmless from any liabilities or losses incurred. It is essential to review and understand our Terms of Service and Risk Disclosure Policy before using our software or engaging in any trading activities. Please consult legal and financial professionals for personalized advice based on your specific circumstances.

©2017 - 2024 Copyright by Cryptohopper™ - All rights reserved.