What Is Flamingo (FLM)?
FLM is the native token of Flamingo, which is a Neo-based decentralized finance (DeFi) protocol. It essentially is an all-in-one DeFi platform that allows users to convert or wrap assets, provide liquidity, and generate yield through staking.
If you’re interested in seeing the live FLM price, check out the Flamingo price chart above.
Asset conversion allows users to swap any tokens that are available on the Flamingo platform. They are able to do that on Flamingo’s AMM, which employs the Constant Product Market Maker (CPMM) model. For token wrapping (and unwrapping), Flamingo offers a cross-chain asset gateway. It allows users to move assets across different blockchains. In terms of providing liquidity, Flamingo has an on-chain liquidity pool, which allows liquidity providers to stake their LP tokens to receive a portion of network fees and newly minted FLM tokens as rewards. Besides that, Flamingo has crypto vaults, which provide users with safe storage for their crypto assets, and a platform for perpetual contract trading.
Who Founded Flamingo?
The Flamingo crypto project was founded by Da Hongfei. He is an entrepreneur with a degree in English language and technology. Hongfei is also a co-founder of the Neo blockchain and OnChain. Though before joining the crypto industry, he worked at a consulting company called IntPass.
Flamingo tokens are based on the NEP-5 token standard, which is a compatibility standard of Neo. The tokens are mostly used for rewarding liquidity providers. As mentioned before, they can earn FLM by staking LP tokens.
Flamingo tokens are minted through the aforementioned liquidity provider rewards and there is no max supply set. Though it’s planned that the total FLM supply will be minted by 2039. Thus, since there is no max supply and new FLM tokens are constantly minted, this means that the tokens have an inflationary nature. However, the inflation rate of FLM tokens keeps decreasing each month and will continue to decrease until the last token is minted.
Thus, before investing in Flamingo coins, keep in mind that the FLM price is prone to change. However, you can always check the current value of FLM on the Flamingo price chart above.