After the success of Bella Protocol and Wing Finances, Binance announced the 3rd project to be launched on the Binance Launchpool platform. Now Binance Coin and Binance USD holders can farm an interoperable, full-stack decentralized finance protocol built on the Neo block-chain called Flamingo (FLM).
Flamingo is an interoperable DeFi protocol built on the Neo block-chain, and contains five elements: the gateway (Wrapper), the liquidity provider (Swap), the asset manager (Vault), trading platform (Perp) and the governance mechanism (DAO). The protocol was designed as a clustered DeFi, that can integrate the liquidity pool in Swap and the collateral pool in the Vault. No surpirses ... the logo is pink!
All Binance users holding BNB or BUSD into the pools, will farm Flamingo (FLM) tokens over 30 days. The campaign starts on Sunday 27th of September, for a month. The Flamingo (FLM) listing will take place next day, on Monday 28th, at 7 AM UTC, and will pair with Bitcoin, Binance Coin, Binance USD and Tether. A total of 6.25 million tokens will be distributed, 4.17% of the total supply of 150 million tokens. The share will be 90% (5.6 million tokens) for Binance Coin (BNB) holders and 10% (625k tokens) for Binance USD holders.
Binance Launchpool continues to introduce the promising DeFi projects to the community. With its breakthrough technology, Flamingo is delivering optimized user experiences by integrating platforms for improved liquidity, capital efficiency, and reduced investor risk . - Changpeng Zhao (Binance CEO)
Users can unstake the assets at any time during the campaigns, however, only the tokens in the spot wallet are available for staking into the Launchpool. Was announced that the Flamingo farming will not use the same mechanics as the Bella and Wing distribution.
Many members of the team, the community and also myself are all very optimistic about the future direction of DeFi. 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 that Flamingo will change current DeFi. - Da Hongfei (NEO founder)
* currently testing ReadCash
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