Proposal: To Extend The subsidizing of Flamincome USDT pool withdrawal Fee

1. In Flamincome, only the USDT strategy will incur a 0.5% withdrawal fee, the fee will be pooled as a security reserve dedicated for the USDT fund pool.

2. Flamincome is currently under Proof of Authority (POA) governance scheme. As planned, Flamincome will swiftly transit to DAO on Ethereum (Different from Flamingo DAO).

3. By then, the governance of Flamincome (including the security reserve) will be handed over to DAO. The governance token of Flamincome DAO’s distribution is TBD.

4. To limit the use of POA, I will personally subsidize the withdrawal fee as mentioned in the prior announcement , and the timeframe of the subsidizing will be extended to: Any USDT that was deposited before the prior announcement (2020/9/26 5:00 UTC), and was/is withdrawn before 3 hours after the Mint Rush Resume. To be exact, the mint rush is expected to resume at 2020/9/26 13:00 UTC. The DAO will decide whether Flamincome will reimburse me.

Da Hongfei

2020/09/26