Fueling Flamingo’s Future, with GAS
With the migration to N3 and all the significant changes to our beloved Flamingo platform right around the corner, we feel that it is essential that we explain our goal for GAS and its crucial role in the Flamingo ecosystem.
It is unclear how much GAS will be generated on N3, as this is dependent on how many bNEO will end up in a staking contract. It will also not be a stable flow of money because GAS prices can vary, and voting rewards on N3 might change.
First, we must explain one thing:
Using the GAS to buy FLM and burn it will give us the lowest utilization and deflation.
Using the GAS to drive innovation and adoption will increase the utilization of Flamingo, and the demand for FLM tokens will increase. There is no problem in having 1 billion of something if 5 billion wants it.
And it doesn’t help to burn 500 million of that billion if only 10 000 want the rest, so we must bring more users to Flamingo and make more utilization for the FLM token.
What is going to happen with GAS generated by bNEO? The Flamingo platform/dev team will receive the GAS earned from bNEO. We will use the GAS to grow, innovate, develop and secure the platform. GAS will give the Flamingo platform an opportunity and an advantage that other DeFi platforms on the market do not possess.
The advantage of fuel (GAS)
Here is the advantage we, as Flamingo’s, will have with GAS:
Pen Test, Audits, and Bug Bounties.
To have a secure platform is the number one priority for us all! To have that, we need to reward hackers and security researchers for helping us to be the most secure DeFi platform on Web3.0. The more secure platform, the easier it is to drive adoption.
Marketing, Exchanges, Teaching, and Communication.
Flamingo needs many resources to drive adoption. It’s a competitive market, and the more people we get to use Flamingo, the higher the demand for FLM tokens.
Developers, Servers, and Infrastructure
To be the best, we got to have the best! Secure Development that drives adoption takes time and requires resources.
Content Creators, Support, Designers, Advisors, Lawyers
To bring Adoption and Develop the best DeFi solutions, we need the best Team to work on and with Flamingo.
It’s essential to remember that the Flamingo platform doesn’t have any pre-minted tokens, VC backing, or a significant war chest to help us build the best DeFi platform. The initial allocation from NGD will only get us that far, but we have GAS, and GAS can get us all the way we need to go!