CRYPTO NEWS & DATA SPACE

CRYPTO NEWS & DATA SPACE

Flamingo Finance N3 Migration

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Flamingo will migrate from Neo Legacy to the world’s most advanced blockchain, Neo N3. The migration will start on 30th November 2021. The migration happens in three phases over a month, so your stakings on Neo Legacy still earn you yield after 30th November.

How will this affect users?

If users are currently using Flamingo to earn yield they will experience that the minting rewards on the Legacy platform will decrease over a period of 30 days.

The schedule will be as follows:

  • Day 0 to 10: 25 % minted on N3 and 75% on Legacy.
  • Day 11 to 20: 50% minted on N3 and 50% on Legacy.
  • Day 21 to 30: 75% minted on N3 and 25% on Legacy.
  • Day 30+: Minting stops on legacy and all minted FLM will be on N3.

Will the pools be the same on N3?

Some changes will be made to the pools as Flamingo move to N3. New staking pools that will help the utilization of the FLM token, will be introduced. These pools will also increase the swapping efficiency for some pairs.

ABOUT Flamingo Finance
Flamingo Finance is an interoperable full-stack DeFi protocol on Neo Blockchain.

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