Flamingo FLM / Flamingo

What Is Flamingo (FLM)?

Flamingo is a decentralized finance (DeFi) platform based on the Neo blockchain and the Poly Network interoperability protocol. It combines several DeFi applications into a single ecosystem: a cross-blockchain asset gateway (wrapper), an on-blockchain liquidity pool (swap), a blockchain asset vault, a perpetual contract trading platform (perp) and a decentralized governance organization (DAO).

Different components of the Flamingo network are planned to be launched in several phases:

* Token wrapper for Bitcoin, Ethereum, USDT, Neo, Ontology and others: September 23, 2020 * Swap and LP token staking: September 30, 2020 * Phase 3 vault launch and stablecoin issuance: October 28, 2020 * Perp launch: November 25, 2020 * DAO launch: December 23, 2020

Who Are the Founders of Flamingo?

The founder of Flamingo is Da Hongfei, a Chinese entrepreneur also known for co-founding one of the main competitors of Ethereum: the blockchain network Neo, which Flamingo is based on. Hongfei has also co-founded OnChain, a private blockchain services company.

Da Hongfei has a degree in English and technology from the South China University of Technology and has worked as the CEO of the IntPass Consulting firm prior to teaching himself how to code and entering the blockchain scene in 2013-2014.

What Makes Flamingo Unique?

Flamingo positions itself as a singular platform that combines multiple decentralized finance tools for Neo into a common ecosystem that will be governed by its users via a decentralized autonomous organization.

Decentralized finance is a nascent, fast-growing trend in the cryptocurrency industry that encompasses various financial solutions that often operate on top of cryptocurrency blockchains. Working as a sort of second-layer industry, DeFi platforms are conceptually aligned with the idea of the cryptocurrency industry as a whole: eliminating third parties and singular points of failure from monetary and financial systems. Having emerged in early 2019, by mid-2020 the DeFi industry already boasted over $4 billion in locked collateral assets.

Some of the main use cases in DeFi are cryptocurrency lending, yield farming and decentralized exchanges. However, for most cryptocurrencies and their respective DeFi environments, each of these solutions is usually provided by a single separate platform.