Flamingo Releases Revolutionary Reverse Pools
Flamingo is proud to announce the release of a revolutionary achievement in DeFi: Reverse Pools. And to get this party started, we’re launching two brand new pools: FRP-FLM-NUDES, and FRP-FLM-CANDY.
What is a reverse pool?
A reverse pool lets you stake FLM and a second token like any other Flamingo liquidity pool; however, it does not pay you staking rewards in FLM but a different token. The staking reward will often be the second token, but it can also be any other token on Neo. For instance, there could be an FLM-bNEO pool that pays rewards in NUDES.
Why is this worth doing?
A reverse pool is a great way to achieve price discovery and let the market decide a token’s price. The project will then get rewarded with a higher token price if they do something that makes the market want their token. It’s also beneficial because it helps distribute the project token to users that believe in and hold and/or stake the project’s token.
Okay, but what’s in it for Flamingo?
Reverse pools are an excellent way for Flamingo to list new projects and attract new token pairs to the platform; it will help attract new investors who want to invest in new projects. It is also easier to add more projects since listing a reverse pool has much lower demands than an FLM-generating pool.
How do I stake in reverse pools?
The first Flamingo Reverse Pools to launch will be FLM-NUDES and FLM-CANDY. Users will be able to stake FLM with NUDES and earn NUDES. Likewise, users will be able to stake FLM with CANDY and earn CANDY.
To stake in reverse pools, users will stake in the same ways they’ve always staked: by manually adding liquidity and staking or by using SmartStake. Users will claim rewards as they usually would by selecting Claim and checking the box for the pool they want to claim.
Where can I stake in reverse pools?
On the Asset Actions tab on Flamingo.finance. You can also see all reverse pool stats and Claim your rewards on the Earn page.
When can I stake in reverse pools?
Now!
How can I list a token?
Fill out the listing application here:
