#Flamingo Archives - Smart Liquidity Research

Flamingo Second Wave of LP

Mische Martinete — Mon, 09 Jan 2023 14:06:04 +0000

Flamingo Second Wave of LP (Liquidity Pools) including FUSD. Flamingo Finance is thrilled to announce more changes to its liquidity pools, including the FUSD launch and adding FUSD pools.

The liquidity pool changes discussed in this article will be the second wave of a four-wave series as they get ready to launch Flamingo’s stablecoin FUSD and FUSD pools.

What will happen in the second wave?

The second wave of liquidity pool changes will include the launch of the FUSD stablecoin, brand-new FUSD liquidity pools, and some minting adjustments to the existing pools.

FUSD Stable Coin Launch

The anticipated FUSD, Flamingo’s USD-pegged stablecoin, will finally launch in the second wave. It will launch under a brand-new Lend section on Flamingo Finance, where you can lend FUSD by using different assets as collateral.

Flamingo will launch with three different supported assets that can be used as collateral. Interest rates for loans will be different depending on the collateral you use, and the rates are as follows:

bNEO: 4%*
FLUND: 6%*
fWBTC: 6%*

* Simple interest: based on the principal amount of a loan only and does not include compounding interest.

New FUSD Pools

Flamingo Finance will also launch a few FUSD pools so that FUSD is immediately available for trading and liquidity mining.

The new pools will be as follows:

FLM-FUSD
fWBTC-FUSD
bNEO-FUSD
fUSDT-FUSD

Minting Adjustments

Since FUSD, in many cases, is backed by FLM, migrating to FUSD pools from FLM pools makes more sense as it locks up FLM and makes an option for traders to trade vs. stable coin, just like on a centralized exchange. FUSD gives Flamingo a “two for one” and will be a big part of Flamingo’s future.

Over approximately one month the platform plan to move the majority of minting from the FLM-bNEO pool to a new FUSD-bNEO pool.

Over approximately one month, the old fUSDT pools will receive lower minting rewards. The old fUSDT pools may in the future be removed entirely (if so, Flamingo will announce so, plenty of time beforehand).

When will the second wave happen?

The second wave of changes will launch soon; the same day FUSD becomes available. The date of launch is still unknown but Flamingo wants to announce to its community these changes ahead of time so that everyone has enough time to prepare.

Minting rewards for new pools will begin 24 hours after the pools launch.

ABOUT Flamingo Finance

Flamingo Finance is an easy-to-use DeFi platform built on Neo N3. Designed with Smart Functions for everyone, from beginners to advanced cryptocurrency users.

Website | Twitter

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Flamingo Parties with Poly Network

Eris — Mon, 08 Aug 2022 15:57:52 +0000

Flamingo is thrilled to join the Poly Network Voyage 2nd Anniversary event. Poly Network is a global cross-chain protocol for implementing blockchain interoperability and building Web3.0 infrastructure.

Who

Flamingo DeFi platform users

What

To join the party, just initiate cross-chain transactions on Flamingo. To initiate cross-chain transactions, just wrap or unwrap assets. It’s that simple.

When

August 8, 2022 at 3:00 UTC — September 8, 2022 at 3:00 UTC.

Rules

Flamingo will reward the top 100 addresses based on cross-chain costs from August 8th at 3:00 UTC to September 8th at 3:00 UTC.
They will gather all transactions in the period mentioned and distribute a prize pool of $1,000 to be paid in FLM tokens.
The top 100 addresses share of the prize pool is based on how much the user paid in their transactions compared to the total transaction costs of the top 100. For example, if a user has 10% of the transaction costs compared to the total transaction costs, that user would receive a $100 prize.

Other dApps will also participate in the Poly Network Voyage 2nd Anniversary event in their own ways. Each dApp that joins the event will have specific award rules to select winners and distribute prizes.

Prizes will be awarded to users of the Poly Network ecosystem. Besides from the individual dApp contests and prizes, Poly Network will also reward the top 1,000 addresses based on cross-chain costs (including source chain transaction fees and target chain transaction fees) with Poly Network NFTs!

Get ready for some cross-chain craziness! They hope you’ll join us at the Poly Network Voyage 2nd Anniversary event!

Flamingo Finance is an easy-to-use DeFi platform built on Neo N3. Designed with Smart Functions for everyone, from beginners to advanced cryptocurrency users.

About Flamingo

Flamingo is a full-stack DeFi protocol integrating crosschain asset gateway, AMM-based swap, synthetic stablecoins, and AMM-based Perpetual. As a pillar of Neo’s DeFi infrastructure, Flamingo rounds out the Neo ecosystem’s DeFi network while also delivering innovative solutions to challenges that Defi are facing.

Website | Twitter

About PolyNetwork

Poly Network is a global cross-chain protocol for implementing blockchain interoperability and building Web3.0 infrastructure. Poly Network has integrated almost 30 blockchains, including Ethereum, Polygon, Avalanche, Fantom, BNB Chain, Arbitrum, Optimism, HECO, OKC, Neo, Ontology, Zilliqa, Harmony, Metis, etc. Since its launch, the protocol has enabled cross-chain asset transfers of more than USD 16 billion.

Website | Twitter

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