Flamingo is an interoperable, full-stack decentralized finance protocol built on the Neo blockchain.
Flamingo is comprised of six main components:
Wrapper: A crosschain asset gateway.
Swap: An on-chain liquidity provider.
Vault: A one-stop asset manager.
FUSD: A synthetic stablecoin asset.
Perp: An AMM-based perpetual contract trading platform.
DAO: A Decentralized Autonomous Organization (DAO) for platform governance.
The FLM token is the governance token of Flamingo. FLM holders can vote for changes in platform parameters, issuance of new FLM tokens, etc.
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.
Key metrics (as at September 23rd 2020)
Binance Launchpool Start Date
September 27th 2020
Binance Launchpool Allocation
6,250,000 FLM (4.17%)
Initial Circ. Supply (upon listing)
30,000,000 FLM (20.00%)
After 150,000,000 FLM tokens have been released into circulation, the community can vote to mint more tokens via the DAO.
1. What is Flamingo (FLM)?
Flamingo is a DeFi protocol cluster integrating multiple modules to provide a comprehensive DeFi infrastructure. Users can participate in Flamingo as traders, stakers, and liquidity providers. Flamingo plans to launch the following products and features:
Wrapper is a crosschain asset gateway for Bitcoin, Ethereum, Neo, Ontology, and Cosmos-SDK based blockchains. Users can wrap tokens such as BTC, ETH, NEO, USDT and ONT on the Neo blockchain as NEP-5 tokens (nETH, nNEO, nUSDT, nONT, etc.). Wrapped NEP-5 tokens can also be swapped back for native tokens.
Swap is Flamingo's on-chain Automated Market Maker (AMM), providing liquidity to wrapped assets, FLM, and other NEP-5 tokens. Similar to Uniswap, Swap adopts the Constant Product Market Maker (CPMM) model. Within Swap, users can trade token pairs or provide liquidity to a chosen liquidity pool by depositing tokens on both sides of the trading pair.
Vault is Flamingo's one-stop asset manager, and allows users to stake NEP-5 assets for FLM rewards (as an early stage participation incentive). Vault is also where users can stake LP tokens to mint FUSD stablecoin.
FUSD is a collateralized synthetic stablecoin on Flamingo, pegged to the price of USD. LP token stakers can mint FUSD against their staked LP tokens while maintaining the actual collateralization ratio above the liquidation collateralization ratio. A User will receive FLM in proportion to the amount of FUSD minted, but the FLM rewards can only be claimed when a user's actual collateralization ratio is above the target collateralization ratio.
Perp is an AMM-based perpetual contract exchange. Similar to Swap, traders can trade perpetual contracts using the same CPMM model with 10x leverage. Traders are required to use FUSD as staked margins and will receive FLM as rewards.
DAO is a DAO for platform governance. In the long term, the governance of Flamingo will be taken over completely by the community in the form of Flamingo Improvement Proposals and Flamingo Configuration Change Proposals. Through DAO, FLM holders can vote on critical topics such as tokenomics, parameter configuration and functionality improvements. Voters will receive FLM as rewards for participating in governance.
2. Economics and supply
2.1 Token sale data
Flamingo's project development is fully backed by the Neo project team and has not conducted any token sale as of the time of writing.
2.2 Token allocation
4.17% of the total token supply
29.17% of the total token supply
LP Token Staking
53.33% of the total token supply
10.00% of the total token supply
Perp Margin Rewards
3.33% of the total token supply
*FLM tokens in the Mint Rush allocation are used to incentivize user participation in early stages of the project.
FLM token allocation
FLM token release schedule
3. Flamingo's community overview
Flamingo will initially focus on community building in Asia, Europe, and North America, and will gradually expand to other regions as the project grows.
Current community growth strategies of Flamingo include:
Conducting marketing events for the Neo community.
Engaging with users of existing DeFi platforms via social channels.
Hosting and participating in online AMAs and offline conferences to engage with potential users.
Future community growth strategies of Flamingo include:
Conducting daily and weekly project progress updates.
Launching the Developer Grant program.
Launching voting functionalities via the DAO.