Flamingo Finance Announces Second Wave of Liquidity Pool Changes Including FUSD
Hello, Flamingo Family!
We’re thrilled to announce more changes being made to our liquidity pools, including FUSD launch and the addition of FUSD pools!
The liquidity pool changes discussed in this article will be the second wave of a four-wave series as we get ready to launch Flamingo’s stablecoin FUSD and FUSD pools.
If you missed it, you can read about the first wave of changes here.
This article discusses FUSD liquidity pools. To learn more about the FUSD protocol, please read the Flamingo Stablecoin FUSD overview.
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.
Stay tuned to read more about FUSD and how it works in our next article.
New FUSD Pools
We 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 we 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, we will announce so, plenty of time beforehand).
Note: The plans to change minting rewards, regarding how much and when are subject to change as needed based on various factors.
The following changes to Flamingo liquidity pools will take place during the second wave (red = lower; green = new or higher):
When will the second wave happen?
The second wave of changes will launch soon; the same day FUSD becomes available. We don’t know the exact date yet, but we want to announce to our 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.
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. https://flamingo.finance/
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