Flamingo update: FLM Live price, price chart, news and markets

The FLM price update as of now is $0.06926. In the previous 24 hours, its trading volume was $2,406,718, and its value has decreased by -3.84%. As of now, FLM's live market cap is $44,490,849, and it is ranked as the #606 on the Coincu. FLM has a circulating supply of 642,404,952 and a maximum supply of 642,404,952.

Introducing Flamingo: A Decentralized Financial Protocol Flamingo, also known as FLM, is a decentralized financial protocol built on the NEO Blockchain. It aims to create a full-stack, interoperable solution for decentralized finance. The Flamingo project is developed by Neo Global Development (NGD) in alignment with Neo's vision of establishing a smart economy. NGD will support the initial development of the project, and the governance mechanism will transition from Proof-of-Authority (POA) to a decentralized autonomous organization (DAO) over time. Ultimately, the Flamingo project will be community-run. The Key Components of Flamingo Flamingo consists of several key components, each with its unique features: Wrapper: A crosschain asset gateway Swap: An on-chain liquidity provider Vault: A comprehensive asset manager Perp: A platform for perpetual contracts DAO: A decentralized governance system The Wrapper component serves as a cross-chain asset gateway, allowing users to wrap coins/tokens from various blockchains on the Neo blockchain as NEP-5 tokens. These wrapped tokens can also be converted back into their native coins/tokens. The Swap component is an automated on-chain market maker (AMM) that provides liquidity for assets and NEP-5 tokens. Users can trade token pairs or contribute liquidity to selected pools by depositing tokens on both sides of the trading pair. The Vault component acts as an asset manager for Flamingo, allowing users to stake NEP-5 assets and earn FLM rewards. The Vault also enables users to stake LP tokens and mint FUSD stablecoins. The Perp component is an AMM-based exchange for perpetual contracts. Traders can engage in perpetual contract trading using the CPMM model with up to 10x leverage. FUSD coin is used as margin profit, and FLM is rewarded to traders. The DAO component serves as the governance protocol of the platform. The Flamingo community will take over governance through Flamingo improvement proposals and configuration change proposals. FLM holders will have the right to vote on important project matters. Participants in governance will receive FLM as a reward. How Flamingo Works Flamingo is a DeFi protocol cluster that integrates multiple modules to provide a comprehensive DeFi infrastructure. Users can participate in Flamingo as traders, stakers, or liquidity providers, or assume multiple roles simultaneously. Key Features of Flamingo Flamingo: Enhanced Interoperability Flamingo, built on the Neo blockchain, has launched Poly Network, an interoperable protocol that connects with Ontology and Switcheo Network. Through Poly Network, Flamingo establishes connections with various heterogeneous blockchain networks, including Ethereum, Neo, Ontology, and blockchains based on Cosmos-SDK. Flamingo: Optimized Capital Utilization As a clustered DeFi protocol, Flamingo integrates a liquidity pool in Swap and a collateral pool in Vault. Liquidity providers of FLM trading pairs in Swap can stake their LP tokens in Vault while simultaneously minting FUSD stablecoins. This mechanism significantly enhances capital efficiency. Additionally, liquidity providers can utilize FUSD as margin for leveraged perpetual trading in Perp. Flamingo enables users to achieve higher capital efficiency and liquidity compared to isolated DeFi protocols. Flamingo: Equitable Distribution FLM tokens will be distributed solely based on contributions to the platform, with no pre-mining or team reserve. The initial distribution of FLM will be determined by the Flamingo team, while the long-term distribution will be governed by the DAO through FLM voting. Flamingo Roadmap All the details about Flamingo's roadmap can be found here.