An Interoperable Full-Stack DeFi Protocol on Neo
Introduction
Flamingo is an interoperable, full-stack decentralized finance protocol built on the Neo blockchain.
Flamingo is comprised of five main components, including Wrapper - a crosschain asset gateway, Swap - an on-chain liquidity provider, Vault - a one-stop asset manager, Perp - an AMM-based perpetual contract trading platform, and also DAO - a decentralized governance mechanism. FLM is the governance token of Flamingo and will be 100% distributed to the community based on participation.
The Flamingo project is incubated by Neo Global Development* (NGD), underscoring Neo's vision to build the Smart Economy, of which decentralized finance is a crucial component. NGD will facilitate the early-stage development of the Flamingo project, and the governance mechanism will gradually transit from Proof-of-Authority (POA) to DAO. The Flamingo project will eventually run by the community.
Wrapper
Wrapper is a crosschain asset gateway for Bitcoin*, Ethereum, Neo, Ontology Network, and Cosmos-SDK based blockchains. Users can wrap tokens such as NEO**, ONTd*** and value-pegged assets from Flamincome (nWBTC, nwETH, nUSDT, and etc.) on the Neo blockchain as NEP-5 tokens (nNEO, pONTd, pnWBTC, pnwETH, pnUSDT, and etc.). Wrapped NEP-5 tokens can also be redeemed back for native tokens. More tokens will be added to the list as the project develops.
Swap
Swap is Flamingo's on-chain Auto Market Maker (AMM), providing liquidity to wrapped assets (as listed above), FLM, and other NEP-5 based tokens. Swap adopts the Constant Product Market Maker (CPMM) model, which was popularized in many AMM-based DEXs, such as Uniswap. CPMMs are based on the function , which establishes a range of prices for two tokens according to the available quantities (liquidity) of each token. Within Swap, users can trade token pairs (included in a whitelist at the early stage) or provide liquidity to a chosen liquidity pool by depositing tokens to provide equal liquidity on both sides of the trading pair.
Vault
Vault is Flamingo's one-stop asset manager, integrating asset staking/mining, and collateralized stable coin issuance. FLM will be released and users can claim the distributed FLM by will.
Perp
Perp is a vAMM-based perpetual contract trading protocol for virtually any underlying assets with infinite liquidity. Similar to Swap, traders can trade perpetual contracts using the same Constant Product Market Maker model with up to 5x (for now) long or short leverage after depositing margins. A funding payment mechanism is introduced to ensure the market price with the vAMM converges with the external price. Insurance Fund is also set up to ensure the stable and sustainable operation of Perp.
DAO
In the long-term, the governance of Flamingo will be taken over completely by the community in the form of Flamingo Improvement Proposal and Flamingo Configuration Change Proposal. Through DAO, FLM holders can vote for critical topics such as tokenomics, parameter configuration and functionality improvements/changes. Voters will receive FLM for participating in governance.
How it Works
Flamingo is a DeFi protocol cluster integrating multiple modules to provide a comprehensive DeFi infrastructure. Users can participate in Flamingo as different roles respectively or simultaneously as traders, stakers, and liquidity providers.
Features
1. Interoperable DeFi
Frictionless access to crypto assets on Neo, Ethereum, Ontology, COSMOS SDK-based Networks and more
2. Fair Launch
0 FLM (Platform token) for pre-sale, pre-mint or team distribution. 100% distributed based on participation
3. Capital Efficiency
Harvest Swap and Perp transaction fee, FLM, and credit allowance seamlessly to maximize your capital gain