Understand Flamincome in 5 minutes
Flamincome is the Ultimate Yield Booster on the Ethereum network.
In its initial stage, Flamincome will adopt the same strategy as other mainstream yield aggregators to provide Flamincome users with yields similar to YFI/YFII while safeguarding the staked assets.
On the other hand, unlike yearn.finance and other yield aggregators on Ethereum which all belong to a “inward-growing” ecosystem, Flamincome will also help users to earn yields simultaneously on other blockchains. This is also the purpose of the unique Normalizer module in Flamincome.
In addition to the earning yield from staking, Flamincome users will also receive pegged assets corresponding to the value of their original assets that are staked for yields on Flamincome. This means that while staking their ERC-20 asset on Flamincome for yields, users can also use the pegged assets obtained from the Ethereum DeFi ecosystem (Flamincome) to participate in Neo’s DeFi ecosystem (Flamingo) and receive FLM.
Two major modules of Flamincome
Optimizer: Optimizing yields with optimal strategies
Conversion of original assets (USDT, USDC, DAI, ETH, wBTC, wETH, etc.) into interest-bearing assets (fUSDT, fUSDC, fDAI, fwETH, fwBTC, etc.)
Normalizer: Converting interest-bearing assets into synthetic assets that anchor the original assets
Interest-bearinging assets (fUSDT, fUSDC, fDAI, fwETH, fwBTC, etc.) are converted into synthetic assets (nUSDT, nUSDC, nDAI, nwETH, nwBTC, etc.) whose value is 1:1 pegged with original assets, and these synthetic assets can be used in other blockchains for more yields, e.g., Flamingo.
Why use Flamincome?
1. In the initial stage, Flamincome will adopt matured strategies from mainstream yield aggregators, and will gradually develop new strategies for better yields. Flamincome users will be provided with equivalent yield rates and asset security of other mainstream yield aggregators.
2. Flamincome provides a possibility to boost yields by aggregating crosschain protocols. Flamincome users will enjoy multiplied yields on both Ethereum (Flamincome) and Neo (Flamingo) at the same time.
3. Flamincome presents a low opportunity cost solution to supplying assets from Ethereum to other public blockchains. In the future, other public blockchains can also use Flamincome as a new channel to migrate assets to their own networks.
All in all, Flamincome is the optimal choice for all DeFi users, and it is the best choice for mature yield farmers and scientists.