After a delayed launch, Flamingo Finance finally launched their liquidity staking program on October 5th, 2020. APY for FLM on the first day is at 670% and the APY is expected to change as we enter week three for the project. FLM is currently the MOST PROFITABLE farming pool at the moment but it's also the most risky as the price may fluctuate and you will lose out to impermanent losses.
Trading at around $0.39 at time of report, FLM price started moving up from its all time lows of $0.3050 around the time of the SWAP launch. We believe that as long as Binance is minting out FLM tokens to whales, there will be a constant sell pressure.
Those who are in liquidity pools on Flamingo Finance are less likely to sell as it is an extra step to set up a NEO wallet and extra risk to enter liquidity pools which can turn off many whales who are in it for a quick buck and has zero interest in the token's future.