The Flamingo cryptocurrency ( $FLM ) is the native token of the Flamingo Finance platform, a decentralized finance (DeFi) ecosystem built on the Neo blockchain and integrated with the Poly Network interoperability protocol. Its goal is to provide a complete and integrated DeFi solution, bringing together various functionalities in a single platform.
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🔍 What is Flamingo ( $FLM )?
Flamingo combines various DeFi components in one place:
Cross-chain asset gateway (wrapper): allows the conversion of assets from different blockchains.
Liquidity pool (swap): facilitates the exchange of tokens within the platform.
Asset vault (vault): offers staking options and secure storage of assets.
Perpetual contracts platform (perp): allows leveraged trading of perpetual contracts.
Decentralized Autonomous Organization (DAO): enables community governance of the platform.
These components were launched in phases between September and December 2020, with the aim of creating a robust and interconnected DeFi ecosystem.
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🎯 Utilities of Token $FLM
The FLM token plays multiple roles within the Flamingo ecosystem:
Liquidity Incentive: Users who provide liquidity to the pools receive FLM as a reward.
Governance: FLM holders can vote on proposals that influence the future of the platform.
Fee Payments: FLM can be used to pay transaction fees within the platform.
Participation in DeFi Products: FLM is used in products like the Flamingo Fund, an exchange-traded fund on the DEX that offers rewards to participants.
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📊 Tokenomics and Supply
Maximum Total Supply: 1 billion FLM tokens, with issuance scheduled until January 2039.
Current Circulating Supply: Approximately 587 million FLM tokens.
Issuance Model: Tokens are minted in real-time and distributed as rewards to platform participants.
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