Flamingo FLUND Exit Fee To Increase to 2%

The Flamingo Fund (FLUND) has been a huge success collecting over 1.5 million FLM thus far from trading fees, and it will be an even greater success when Flamingo’s block-based order book is released.

On average, FLUND investors make the current 0.5% exit fee in under three days, and on the best days, investors can make them in some hours. We have seen that the current exit fee does not work as expected since the performance of the FLUND is also better than expected.

The exit fee protects long-term FLM holders since FLUND is not meant to be a place to store FLM between trades to earn some extra FLM, but a place for long-term FLM investors to stake FLM and earn yield without the risk of impermanent loss.

Why are we increasing the exit fee?

As stated above, the FLUND is a place for long-term holders to stake FLM. With the introduction of Flamingo’s order book, we will see a significant increase in FLUND fee gains since all fees from trading in the order book will go to the FLUND, and if we don’t raise the exit fee, this will hurt the FLUND and long term investors even more.

Who does this affect?

It affects us all, but in general, it affects the people who stake FLM in the FLUND short term. For long-term stakers, it will not be an issue since the overall fee income will more than match the increased exit fee.

When?

The exit fee will be increased when the new order book is implemented. The date is yet to be announced, but a forecast would say early August.

FLUND FLM income

As a reminder, FLUND investors will continue to increase their FLM holdings from:

• 16% of all fees on the platform
• 100% of FLUND exit fees (soon to be 2%)
• 20% of all newly-minted FLM
• 100% of all order book trading fees (after order book launch)
• 40% from margin maintenance penalties on loans
• 47% from interests paid on loans

As always, stay fly, Flamingos! We’ll see you in the pools!

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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