. What is Flamingo (FLM)? Here is the Crypto Currency FLM Coin in All Details
In this article, What is Flamingo (FLM)? We will answer the question and try to present details about the project.
What is Flamingo (FLM) Coin?
Flamingo is a DeFi protocol set that integrates multiple modules to provide a comprehensive DeFi infrastructure. Users can join Flamingo as traders, stakers and liquidity providers. Flamingo plans to launch the following products and features:
Wrapper is a cross-chain asset gateway for Bitcoin, Ethereum, Neo, Ontology and Cosmos-SDK based blockchains. Users can lock tokens such as BTC, ETH, NEO, USDT and ONT as NEP-5 tokens (nETH, nNEO, nUSDT, nONT, etc.) on the Neo blockchain. Locked NEP-5 tokens can be reversed for local tokens
Swap is Flamingo’s on-chain Automated Market Maker (AMM) that provides liquidity to locked assets, FLM, and other NEP-5 tokens. Similar to Uniswap, Swap adopts the Fixed Item Market Maker (CPMM) model. Within swap, users can exchange token pairs or deposit tokens on either side of the trading pair to provide liquidity to a selected liquidity pool.
Vault is Flamingo’s one-stop asset manager, allowing users to share NEP-5 assets (as an early stage engagement incentive) for FLM rewards. The vault is also where users can share LP tokens to issue FUSD stablecoins.
FUSD is a synthetic stablecoin with collateral pegged to the USD price in Flamingo. LP token stakers can print FUSD against staked LP tokens while keeping the actual margin rate above the liquidation collateral rate. A User will receive FLM in proportion to the amount of FUSD printed, however FLM rewards can only be claimed when a user’s actual margin rate is above the target margin rate.
Perp is an AMM-based permanent contract exchange. Similar to Swap, traders can trade on permanent contracts using the same CPMM model with 10x leverage. Investors need to use FUSD as staked margin and they will receive FLM as a reward.
DAO is a DAO for platform governance. In the long run, the management of Flamingo will be completely taken over by the community in the form of Flamingo Improvement Suggestions and Flamingo Configuration Change Offers. Through DAO, FLM holders can vote on critical issues such as tokenomy, parameter configuration, and functionality improvements. Voters will receive FLM as a reward for their participation in governance.
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