Flamingo Finance Announces Flamingo Flund (Single-Stake)

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Abstract

upply in that pool will be released on the market which will cause a gigantic drop in the price of the Waffle token; thus a single-stake pool that gets only minting rewards is really just an inflationary bubble that one day has to burst.</p><p id="1bf6">Enter the Flamingo Flund.</p><figure id="fc68"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/0*m56lmJspBrHSyh7g.png"><figcaption></figcaption></figure><p id="99e6">In the beginning, the Flund will get 20% of the FLM minting rewards distribution, and it will also get roughly 16% of all activities on the platform. When investors invest FLM in the Flund, they’ll receive FLUND tokens. The FLUND tokens will increase in FLM value since it represents the investor’s share of the Flamingo Flund. The Flamingo Flund grows every time a trade is made on Flamingo.</p><p id="03f7">And what’s more, is, let’s say for instance someone trades 1,000 NEO to GAS on Flamingo. They pay a fee of 3 NEO, of which 0.5 NEO goes to the Flund and will be converted to FLM. The Flund therefore will create a buying pressure on FLM since it takes all incoming assets and sells them to buy FLM.</p><h1 id="c27b">How do I participate?</h1><ul><li>Buy a portion of the FLUND DTF using FLM. You can use any token to

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buy, and we will automatically convert to FLM for you.</li><li>The fund gets 20% of minting rewards in the form of FLM</li><li>The fund gets 16% of all fees from the platform</li><li>All income is converted to FLM when investors enter and exit the fund</li><li>Yield is not claimable but added to the fund, and therefore investors share value</li><li>Investors get their yield in the form of increased FLM when exiting the fund</li><li>There is a 2% exit fee to discourage short term investors and possible exploits</li></ul><h1 id="d80e">When is this happening?</h1><p id="fd7b">The Flamingo Flund will launch on <b>Thursday, April 28, 2022 at 09:00 UTC.</b></p><p id="0521">Minting rewards for the Flund will begin on <b>Friday, April 29, 2022 at 12:00 UTC.</b></p><p id="cc87">Flamingo Finance is an easy-to-use DeFi platform built on Neo N3. Designed with Smart Functions for everyone, from beginners to advanced cryptocurrency users. <a href="https://flamingo.finance/">https://flamingo.finance/</a></p><p id="a097">To stay in touch with us and keep up to date on all things Flamingo, please join us on <a href="http://discord.gg/4XNqQjwEjF">Discord</a> and connect with us on <a href="https://twitter.com/FlamingoFinance">Twitter</a>.</p></article></body>

What is the Flamingo Flund?

We’re glad you asked. First and foremost, the Flamingo Flund is a Dex-Traded Fund (DTF), similar to an Exchange-Traded Fund (ETF). Users will be able to invest FLM into the Flund to earn FLM yield. The Flund is non-inflationary and will not dump the token price once minting is done, as other single-stake pools have been known to do.

Here is a common scenario of other single-stake, Token X/Token X pools. Let’s say we have a platform called WaffleSwap, and they have a pool to “Stake Waffles, get Waffles.” In the pool, 50% of the Waffle tokens are locked, which takes them away from the market, thereby increasing the price. Those who are staking are quite happy since they get more Waffle tokens (50% yield) and everything seems good in the world.

But what happens the day Waffle tokens stop being minted? All the supply in that pool will be released on the market which will cause a gigantic drop in the price of the Waffle token; thus a single-stake pool that gets only minting rewards is really just an inflationary bubble that one day has to burst.

Enter the Flamingo Flund.

In the beginning, the Flund will get 20% of the FLM minting rewards distribution, and it will also get roughly 16% of all activities on the platform. When investors invest FLM in the Flund, they’ll receive FLUND tokens. The FLUND tokens will increase in FLM value since it represents the investor’s share of the Flamingo Flund. The Flamingo Flund grows every time a trade is made on Flamingo.

And what’s more, is, let’s say for instance someone trades 1,000 NEO to GAS on Flamingo. They pay a fee of 3 NEO, of which 0.5 NEO goes to the Flund and will be converted to FLM. The Flund therefore will create a buying pressure on FLM since it takes all incoming assets and sells them to buy FLM.

How do I participate?

Buy a portion of the FLUND DTF using FLM. You can use any token to buy, and we will automatically convert to FLM for you.

The fund gets 20% of minting rewards in the form of FLM

The fund gets 16% of all fees from the platform

All income is converted to FLM when investors enter and exit the fund

Yield is not claimable but added to the fund, and therefore investors share value

Investors get their yield in the form of increased FLM when exiting the fund

There is a 2% exit fee to discourage short term investors and possible exploits

When is this happening?

The Flamingo Flund will launch on Thursday, April 28, 2022 at 09:00 UTC.

Minting rewards for the Flund will begin on Friday, April 29, 2022 at 12:00 UTC.

Flamingo Finance is an easy-to-use DeFi platform built on Neo N3. Designed with Smart Functions for everyone, from beginners to advanced cryptocurrency users. https://flamingo.finance/

To stay in touch with us and keep up to date on all things Flamingo, please join us on Discord and connect with us on Twitter.