Flamingo Finance
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Flamingo Finance

Telegram AMA Summary

Today, on the 26th of October 2021, Neo Smart Economy invited us to do a live AMA on Telegram. We happily joined so we could present the new independent Flamingo team!

Sam Wang hosted the AMA with care and wit, and “on stage” he invited Odd Jørgen (@Mr.Google) and Adrian (@atlazor) from the MyMingo team together with NGD Ecosystem Growth director, John Wang.

The Telegram session was split into three sessions:

Segment 1: An introduction Segment where five questions from Sam were answered.

Segment 2: A live segment where community members asked questions freely. We picked questions that we wanted to answer, and in the end, we selected the five best questions for a reward.

Segment 3: Trivia segment that all the members could join to win prices.

Segment 1: Introduction

Question 1

Sam kicked off the AMA by querying the new team: “Congratulations for taking over the Flamingo project. Could you please introduce your team first?”

Mr. Google answered: “First of all! Thanks a lot for that! It’s a pleasure to be able to work with NGD and Flamingo. We are the new Flamingo team. The team currently has six members that all have their niche.

Atlazor: Senior full-stack developer and 3D & 2D designer/animator.

Mr.Google: Senior full-stack developer and Business developer.

Bob: Whitehat hacker and security expert.

Masongos: DeFi advisor and crypto expert.

Jobster: Comunity and SoMe.

tohbeats: Community.

Jobster and tohbeats joined our team yesterday after showing an excellent engagement for Flamingo on Discord.”

Atlazor then added: “We are all crypto enthusiast with a mixed and diverse skillset.”

Question 2

The next question was directed to John Wang: “Why do you and NGD choose MyMingo to manage the Flamingo project?”

John Wang promptly answered: “After we announced that Flamingo is looking for an independent team to manage, we received a number of applications and talked to the applied teams. MyMingo looks really professional and then we started working with them on some first steps They have all the required members and good experience. They delivered on the first steps and we believe they are the right team to GROW Flamingo! :)”

Question 3

Question number three was asked to the MyMingo team: “Although the Flamingo Finance is the most famous project in the Neo ecosystem, could you please briefly introduce the project and roadmap of next steps?”

Mr. Google had anticipated this question so had a detailed reply:

“Yes that will be my pleasure and I thought it would come up (so I prepared). Flamingo is a Neo dApp for DeFi. The current Flamingo version lives on Neo Legacy, and we are currently working on migrating it to N3. On Flamingo, users can swap tokens, add liquidity to the swap pools and earn yield.

On our short term roadmap is the migration of Flamingo and integration of MyMingo features like SmartStake (new and improved ;) ) We aim at building a deeper connection with the community and interacting more with them on SoMe platforms.

In longer-term, we are working on an IDO and a Lottery for Flamingo; this and more details can be found on the roadmap here: https://roadmap.flamingo.finance/"

Question 4

Then again, it was John Wang’s time to get a question: “What kinds of collaboration or partnership will NGD and Mymingo team have in the future?”

John Wang gave a confident answer: “Well Flaming now has an independent team so the future strategy depends on them, but we will discuss some big decisions together. Migration, IDO, new assets and new yield farming are some of the future items that will involve collaboration.”

Question 5

The final introduction question from Sam went to the MyMingo team: “What will N3 version Flamingo look like? Can you show us some details of it?”

Mr.Google kept the member in suspense: “We asked on Twitter if the community wanted a new update, but unfortunately, Atlazor did not have the time to make a full video update as he is very busy working on N3 migration.”

He then quickly added, “But I made this: https://youtu.be/ylSJLxbGn80", and shared a short video with the latest development status of Flamingo for N3.

Segment 2: Live segment, community questions.

Next up was the live segment, where all members could ask questions. The Telegram group was soon flooded with messages, but we were able to pick out the best ones to answer. Below I will summarise all the questions and answers.

Q: Why did you choose to run Flamingo on the NEO network? What features do you think the NEO provides to help Flamingo development?

Mr.Google answered: “We did not choose Flamingo; Flamingo chose us 😅. But it’s a good question about why we work on NEO and why we want to work with Flamingo on NEO.

If you look at what NEO offers the developer, you can’t find any other blockchain that can compare, not even close. Having the best tools and foundation for a project is extremely important for it to succeed. NEO makes it easy for us to develop new features fast and secure.”

Q: I think that Neo is working so good into de DeFi space, so Flamingo is the only the beginning, so Which others “Powered by Neo” Resources are coming soon?

John answered: “We have some good Neo frontier hackathon graduates, they are building right now. They are projects in gaming (ToTheMoon), NFT (Rentfuse, Humswap) and decentralization of traditional online services (Nekohit). Some projects are also using the NeoFS (SkyHut).”

Q: Flamingo is a cross chain platform, do you think that move onto other blockchain could be possible in the near future?

Atlazor answered: “The fact that Flamingo is cross-chain is powerful. In the future, we will increase cross-chain functionality and add new tokens and possibly aggregated yield from other DeFi-platorms. By leveraging Polynetwork we can move fast and implement new cross-chainn features in no time!”

Q: How do you think Flamingo will benefit from this upgrade?

Mr.Google answered: “For Flamingo users, the first upgrade is a merging of MyMingo and Flamingo; in the future ahead, we have many plans and are already working on some of them (IDO, Lottery). On N3, Flamingo can pick up the pace, and it brings us innovative and new features. The future on N3 is bright 😎”

Q: Good day. Can you please tell us more about the team vision cause many projects does good in starts and later abandoned the project? What are your strategy to increase attraction towards your project?

Mr.Google answered: “Good day to you as well! We are a dedicated team that believes in crypto as a future, maybe not today, perhaps not tomorrow, but crypto and web 3.0 will be the new standard. The road is long, and it requires us to plan for our destination. The teams you talk about tries to sprint a marathon.

Our vision is simple: Create an easy-to-use DeFi platform for users of all ages.”

Q: Is there a timetable for Flamingo to migrate N3?

Atlazor answered: “Migration is scheduled for mid November. This is a tentative date and not 100% confirmed.”

Q: How will the extension of the ecology in the later stage lead to market actions? The most important thing is how can the flamingo fly higher and farther?

Atlazor answered: “We believe that ease of use and good onboarding tools is critical to growing the adoption of Flamingo. Now we see good usage and liquidity on the platform, but there is still a lot to be unlocked if we manage to lower the barrier of entry to DeFi. That is why we will implement a FIAT-to-crypto gateway and easy-to-use onboarding tools soon to onboard more users and liquidity. Let the Flamingo’s fly to all parts of the world :)”

Q: Is Flamingo going to offer perp contract on N3? (Didn’t see that in roadmap) and if so are you going to launch a new perp competition?

Mr.Google answered: “Yes, NGD will continue to make the Prepetcual contracts, and to be able to make perpetual trading live on a blockchain is 🤯🤯🤯🤯 But they are doing it 🤓

For future competitions, we have not talked about it or scheduled anything.”

Q: Do you have audit certificates, or are you working to audit your project, to make it more secure and reliable?

Mr.Google answered: “All contracts go through audits and are adequately tested. we also have a whitehat hacker on our team that takes care of more than just blockchain security.”

Q: Can you tell us about the Liquid Staking? What are the requirements to participate?

Atlazor answered: “If you refer to staking in the liquidity pools, you only need a Neo wallet and any token supported by Flamingo (e.g. NEO or GAS). To participate, you can easily use the SmartStake feature that will launch on Flamingo N3 and input how much you want to stake. Voilà, you will now receive yield from Flamingo.”

Q: What will be the use case of native $FLM token of Flamingo ecosystem?

Atlazor answered: “In the near future the use case of $FLM will increase as we add more features like the Lottery, IDO, and new yield farms. You will for example be able to gain investor privileges by staking FLM in the IDO, and you can buy lottery tickets using FLM. More $FLM utility will be added as we continue to develop.”

Q: If the bear market comes will your token probably dump? Do you have any plan to prepared for this bear market? How will you handle the panic sell?

Mr.Google answered: “A bear market will come, and if we couldn’t handle it and get cold feats, we would be here for all the wrong reasons. We had the last “bear” when bitcoin went from 64k to 30k, NGD asked us if we were still working, and the answer was easy: Now its time to work, not all chats are silent, and we can focus on the tasks until the next bull market when the channels are full of questions again.”

Q: Currently, NFT is very hot, do you think you will apply NFT technology to your products in the future?

Mr.Google answered: “NFT’s are hot, and NEO has its Neoverse; maybe in the future, there will be a utility for some NFT’s on Flamingo. Nothing is planned, but NFT’s are fun!”

Q: Do you have any bugbounty program to finding bugs or security breaches?

Mr.Google answered: “This is coming! Bug bounties are a very important part of all systems! That can give hackers a legit way of helping and making money!”

Q: Where is Flamingo going to be 10 years from now?

Atlazor answered: “Flamingo will be everywhere and the de-facto choise for DeFi. 😅”

After answering a lot of the community questions we were so happy with all the questions we answered that Mr. Google stated: “We will increase the bonus and want to give a price to all authors of questions we answered 😁 Hope that is OK?”, to which Sam answered: “Haha. Of course!”.

Closing words

The AMA was rounded off with a fun quiz with prices for the participants. All in all, it was a successful and fun AMA, and we were glad that Neo invited us to this exciting event. Be sure to join the Neo Telegram group so that you don’t miss their next AMA: https://t.me/NEO_EN

Learn more

Flamingo official website: https://flamingo.finance/

Flamingo on Twitter: @FlamingoFinance

Flamingo community: Discord

Neo official website: https://neo.org

Neo on Twitter: @Neo_Blockchain

Neo community: Discord / Telegram

MyMingo official website: https://mymingo.finance/

MyMingo on Twitter: @mymingofinance

MyMingo community: Discord