We are amidst of exciting times pertaining to the arena of DeFi, as it seems that every blockchain (except Big daddy Bitcoin) is trying to launch their own version of Decentralized Finance. One of the newest is Flamingo.finance.
Flamingo.finance is interoperable and thus have access to crypto assets from NEO, Ethereum, Cosmos and other Blockchains. The Native token Flamingo (FLM) didn't have a pre-sale or pre-mine phase, and will be distributed based on participation, by providing liquidity to their pools.
If you do not have an account on Binance yet, what are you waiting for?
Binance is one of the most exciting exchanges in the cryptocurrency space, and they have a lot of incentive for people who use the exchange, like the launchpool in which you stake your assets (in this case BNB or BUSD) and then earn another Crypto the latest offering is Flamingo (FLM).
There is a current staking event whereby you also stake BNB or BUSD and earn WING and Bella Protocol tokens, however it seems that FLM will be earned in a different staking pool on Binance, and you won't be able to take part in Bella, Wing, and FLM staking simultaneously which is a bummer! I do have about 22 BNB currently in Binance savings pool which is earning me interest in BNB and Bella/Wing as well as 80 BUSD.
My tactic for this round will however be different than with the previous staking round. FLM staking is launched at 2020/09/27 0:00 AM (UTC) and you can start trading FLM from 2020/09/28 7:00 AM (UTC) with the trading pairs FLM/BTC, FLM/BNB, FLM/BUSD and FLM/USDT. As with most previous listings on Binance, the new listing starts Pumping as soon as trading with the new token starts (as was also the case with Bella and Wing). So come Monday morning 2020/09/28 7:00 AM (UTC). I'm planning on using my 80 BUSD to purchase FLM straight off the bat when trading starts (9a.m in South Africa), I'll keep the FLM to see if it does a 2x or 3x and then sell it back to BUSD, I'll then stake the BUSD in the FLM pool to earn more (Free) tokens and decide what to do with those later.
What do you guys think about the above tactic? I might do a follow-up article with the results.
Please note I am not a financial advisor, and as such this is not financial advice. Please do your own research but feel free to comment!
Thank you for reading.