Flamingo Progress Update — 10/14/2020

Flamingo Finance
Flamingo Finance
Oct 14, 2020

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Read to find out Swap highlights and optimizations, as well as coming launch plans.

Highlights

  • Liquidity provision peaked over $500M USD after the launch of Swap, now stabilized above $200M USD.

Within the first week of Swap:

  • Over 50,000 transactions.
  • Over $30M USD transaction value.
  • Near $100,000 USD yield created for liquidity providers.

FLM Release Schedule

  • Until UTC 13:00 10/21/2020: FLM will be released at the current rate of 7.5 million per week.
  • From UTC 13:00 10/21/2020 to UTC 13:00 12/23/2020: FLM distributed to LP token stakers will be released as planned in the Litepaper, with a rate of 5 million per week.
  • FLM distribution for other modules (such as Perp) will become effective as the module launches.

Optimizations in Swap

  • Trading Router in Swap will be launched UTC 13:00, 10/15/2020.
  • The Swap “Analytics” page is also being optimized, to include daily/weekly volume for trading pairs, please stay tuned for the release notice.

Next Steps

Considering the relatively large amount of asset volume as well as stablecoin asset volume currently on Flamingo, the team has decided to bring forward the launch of the Perp module. FUSD’s future development will be planned in accordance with the platform’s actual need for stablecoins.

Community Engagement

The team is calling for the community to join in the “governance” channel on Discord for your precious opinions and suggestion regarding future product designs of Flamingo. The team is also welcoming potential teammates to join the technical development of the platform.

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Flamingo Finance
Flamingo Finance

An easy-to-use DeFi platform built on Neo N3. Designed with Smart Functions for everyone, from beginners to advanced cryptocurrency users.