In this article, we tried to answer questions such as what is FLM coin, what is cryptocurrency Flamingo (FLM ), how to buy FLM coin. Here are the details about the FLM coin review and its future…
FLM Coin How Much TL?
According to current crypto money market data, 1 FLM Coin 3.43 TL is traded at TL. FLM Coin price has fluctuated by 50.13% in the last 24 hours. The trading volume of FLM Coin in the last 24 hours is 114,765,151 $ , and the total market cap is at $70,758,689 dollars.
FLM Coin How Much?
According to current crypto money market data, 1 FLM Coin 0.199551 $ is traded at $.
What is FLM Coin?
FLM coin is the management token of Flamingo. FLM coin holders may be affected by changes in platform parameters, issuance of new FLM tokens, etc. can vote for it.
Flamingo is an interoperable, full-stack decentralized finance protocol built on the Neo blockchain.
Flamingo consists of six main components:
- Wrapper : A cross-chain asset gateway
- Swap : Chain a liquidity provider on
- Vault : One-stop asset manager
- FUSD : A synthetic stablecoin asset
- Perp : An AMM-based perpetual contract trading platform
- DAO : Decentralized Autonomous Organization (DAO) for platform governance
Flamingo (FLM) Why?
Flamingo is a DeFi protocol cluster that integrates multiple modules to provide a comprehensive DeFi infrastructure. Users can join Flamingo as traders, bookies 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 wrap tokens such as BTC, ETH, NEO, USDT and ONT as NEP-5 tokens (nETH, nNEO, nUSDT, nONT, etc.) on the Neo blockchain. Wrapped NEP-5 tokens can also be exchanged for native tokens.
Swap is Flamingo’s on-chain Automated Market Maker (AMM), providing liquidity to bundled assets, FLM and other NEP-5 tokens. Similar to Uniswap, Swap adopts the Constant Product Market Maker (CPMM) model. In Swap, users can trade token pairs or deposit tokens on either side of the trading pair, providing liquidity to a selected liquidity pool.
Vault is Flamingo’s one-stop asset manager, allowing users to stake NEP-5 assets (as an early-stage participation incentive) for FLM rewards. The Vault is also where users can stake LP tokens to mint FUSD stablecoins.
FUSD is a collateralized synthetic stablecoin pegged to the USD price in Flamingo. LP token shareholders can issue FUSD against their LP tokens while keeping the actual collateralization rate above the liquidation collateralization rate. A User will receive FLM in proportion to the amount of FUSD minted, however FLM rewards can only be claimed when a user’s actual margining rate is above the target margining rate.
Perp is an AMM-based perpetual contract exchange. Similar to Swap, traders can trade perpetual contracts using the same CPMM model with 10x leverage. Investors must use FUSD as the stake and will receive FLM as a reward.
DAO is a DAO for platform governance. In the long term, the management of Flamingo will be completely taken over by the community in the form of Flamingo Improvement Suggestions and Flamingo Configuration Change Suggestions. Through the DAO, FLM holders can vote on critical issues such as tokenomics, parameter configuration, and functionality improvements. Voters will receive FLM as a reward for participating in governance.
Key Strengths of Flamingo
Interoperability
Flamingo is part of an ecosystem of NEO and Poly network. Poly is a protocol developed on NEO in conjunction with Switcheo Network and Ontology. The protocol connects to other blockchain platforms such as Cosmos, Bitcoin, Ontology, and Ethereum.
Connects to Flamingo NEO, NEO Poly and Poly other decentralized networks to bring the interoperability factor.
Capital Efficiency
Popular decentralized exchanges (DEXs) that use an automated market maker model underutilize capital from LPs. Flamingo provides capital efficiency by clustering individual considerations such as liquidity pool (LP) and collateral pool.
For example, Vault provides the collateral pool when managing Swap LP. Therefore, LPs can provide liquidity in Swap and still stake their tokens in Vault.
Flamingo (FLM) Coin Review and Future
Flamingo originally launched in Asia, Europe and North America. It will also focus on community building and will gradually expand to other regions as the project grows. Flamingo’s current community growth strategies are:
- Handling marketing events for the Neo community
- Engaging with users of existing DeFi platforms via social channels
- To engage with potential users hosting and attending online AMAs and offline conferences
