Flamingo Progress Update — 12/23/2020
1. FLM distribution
The distribution of FLM will continue at the existing pace, releasing 5 million FLM per week. The adjustments of the distribution will be made upon the official launch of Perp.
2. Perp progress
Perp trading competition
The Perp trading competition will be launched in the next few weeks and will last for 2 weeks. In order to fully test Perp functionalities, the competition will be held on the Neo2 MainNet. The specific schedule and method of participation and awards will be announced next week. NF will provide awards to the winners.
Perp launch time
The official launch of Perp is tentatively scheduled in late February. After the trading competition, the team will conduct a comprehensive analysis of the code and logic security of the Perp protocol and make corresponding adjustments to ensure the security of the official launch of Perp components.
3. GAS distribution generated by nNEO
According to the voting results of FIP-1, the GAS generated by nNEO will not be used as rewards for the Perp trading competition.
The team has studied the community proposal to distribute GAS generated based on nNEO holding status of all addresses, the implementation would however be very difficult due to the fact that a large number of nNEO are either locked in the Swap contract or have already been exchanged among the nNEO holders. The team will initiate another proposal regarding this issue after thorough communication with the community to find a more appropriate distribution method.