HELLO GUYS:-D
THIS IS ANOTHER NEW DEFI PROTOCOL WITH IT'S KIND OF FEATURES BUILT ON NEO BLOCKCHAIN. LET'S KNOW ABOUT IT AND HOW CAN EARN OUR PROFIT FROM IT
Flamingo Finance
Flamingo Finance is a decentralized protocol based in Singapore. An Interoperable, Full-Stack Decentralized Finance Protocol Built on Neo Blockchain,
Flamingo finance is a bundle of DeFi protocol integrating multiple factor to provide a comprehensive Decentralized Finance infrastructure to users. So Users can participate in Flamingo as traders, stakers, and liquidity providers. etc.
Flamingo is made up of five main components
*Wrapper*,
*Swap*,
*Vault*,
*Perp*,
*DAO*
NEO BLOCKCHAIN will facilitate the early-stage development of the Flamingo project, and the governance mechanism will gradually transit from Proof-of-Authority (POA) to DAO. Means The Flamingo project will eventually run by the community.
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Wrapper :-
Wrapper is a crosschain asset gateway for Bitcoin, Ethereum, Neo, Ontology Network, and Cosmos-SDK based blockchains. Users can wrap tokens such as NEO, ONTd and value-pegged assets from Flamincome, (nWBTC, nwETH, nUSDT, and etc.) on the Neo blockchain as NEP-5 tokens (nNEO, pONTd, pnWBTC, pnwETH, pnUSDT, and etc.). *Wrapped NEP-5 tokens can also be redeemed back for native tokens*
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Swap
Swap is Flamingo's on-chain Auto Market Maker (AMM), providing liquidity to wrapped assets (as listed above), FLM, and other NEP-5 based tokens. Swap adopts the Constant Product Market Maker (CPMM) model, which was popularized in many AMM-based DEXs,
Swap's feature
Liquidity pool
A liquidity pool is composed of a pair of NEP-5 tokens. Users can establish a new liquidity pool to deposit two types of NEP-5 tokens to supply liquidity or choose an existing pool to deposit equal fiat value liquidity on both sides of the trading pair. Consequently, liquidity providers can get an LP token corresponding to their deposited assets.
LP Token
LP tokens represent liquidity providers' right to redeem their assets and earn passive income via trading fees, proportional to their contributions to the pool. 100% of the trading fees in Swap will be distributed to liquidity providers, which means the amount of the underlying token that can be redeemed by each LP token increases. LP tokens will be burned when liquidity providers withdraw their liquidity, and they can get back their deposited NEP-5 token pairs.
Trading
During the early stage, users can trade any token pair in Swap. Upon choosing a token and quantity to trade, users will be matched with the price and quantity of the target token (decided by the liquidity pool status). Instead of using a traditional buy/sell order book, both sides of the trade are pre-funded by on-chain liquidity pools in Swap. (The current trading fee is set at 0.3%.)
Trading Router
When a user wants to trade A to C without sufficient liquidity in the pool, or the relevant pool has not yet been established, the trading router will automatically search for an optimal trading route to execute the trading
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Vault
Vault is Flamingo's one-stop asset manager, integrating asset staking/mining, and collateralized stable coin issuance
Vault's feature
MINING FUSD
Users holding whitelisted LP tokens can mint stablecoin FUSD by using staked LP tokens as collaterals and receive FLM.
Staking NEP-5 Token
Users will receive FLM after staking whitelisted NEP-5 tokens (wrapped tokens and LP tokens) into Vault.
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Perp
Perp is a AMM-based perpetual contract exchange for virtually any underlying assets with infinite liquidity. Similar to Swap, traders can trade perpetual contracts using the same CPMM model with 10x long or short leverage. Traders will use FUSD as staked margins and receive FLM. Funding rate is introduced to ensure the contract price converging with the actual price.
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DAO
In the long-term, the governance of Flamingo will be taken over completely by the community in the form of Flamingo Improvement Proposal and Flamingo Configuration Change Proposal. Through DAO, FLM holders can vote for critical topics such as tokenomics, parameter configuration and functionality improvements and any changes. Voters will receive FLM for participating in governance.
Basic important information
During the early stage of the Flamingo project, the FLM supply will be distributed for the following use cases:
- Staking cross-chain assets.
- Staking Liquidity Provider (LP) tokens.
- Minting FUSD, (Flamingo's synthetic stablecoin) asset.
- Depositing FUSD as margins to trade perpetual contracts.
- Participating in DAO governance.
Distribution Details
1.-
09/25/2020-09/30/2020,
During this "Mint Rush" period, 50,000,000 FLM will be distributed to users staking whitelisted wrapped tokens into Vault.
Binance launchpool
Users will be able to stake their BNB or BUSD tokens into two separate pools to farm FLM tokens over 30 days
Launchpool Starting Date -
(2020/09/27 0:00 AM (UTC) to 2020/10/27 0:00 AM (UTC).
BNB stakers portion : 5,625,000 FLM in rewards (90%)
BUSD stakers portion : 625,000 FLM in rewards (10%)
Rememberable Things
- Only tokens in your binance spot wallet will be able to be staked into Launchpool.
- The FLM Launchpool will not use the same participation mechanics as the BEL and WING Launchpools.
EARN FLM WITH OKEX JUMPSTART
OKB holders can stake OKB to mine FLM tokens in return.
I think that this is the more easy way to farm your FLM because OkB price is lower than BNB so we can stake more FLM
Total FLM token minable on OkEx- 2500000 FLM (1.67%)
MINING PERIOD Date - Sep./25/2020 to oct./05/ 2020
Minimum OKB staking limit (per person) - None
Maximum OKB staking limit (per person) - 2000 OKB
KYC REQUIRED - KYC SHOULD BE VERIFIED LEVEL 2
( This👆 is not a big deal just upload your any government issued ID )
FOR MORE DETAILS THAT HOW MANY OKB SHOULD STAKE AND HOW MUCH I WILL GET GO THROUGH THIS LINK👇
Thank you
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Sources
https://docs.flamingo.finance/litepaper
https://www.binance.com/en/news/top/1108796?utm_source=default&utm_campaign=link_share