Highlights
- Flamingo Finance tweeted that they have graduated to community ownership by MyMingo Finance
- Flamingo will graduate out of NGD (Neo Global Development) into the Neo community
- Flamingo now becomes a fully community-driven project led by an independent team
About Flamingo, MyMingo And NGD
Flamingo was launched in September 2020 mentored by NGD. It is an interoperable full-stack DeFi protocol on Neo. It was created to improve the liquidity and assets efficiency of financial applications. One of its key features is its interoperability across multiple blockchain networks through Poly Network protocol.
Flamingo combines several DeFi applications such as a cross-blockchain asset gateway (wrapper), a blockchain asset vault, an on-blockchain liquidity pool (swap), a perpetual contract trading platform (perp) and a decentralized governance organization (DAO) in one ecosystem.
MyMingo Will Manage Flamingo
Since its launch Flamingo has processed over $1 billion USD of cross-chain assets. Its Total Value Locked (TVL) high surpassed $2 billion USD. Through Swap it generated more than $20 million USD in transaction fee income for liquidity providers. In its search for the right team within the Neo community to drive Flamingo forward, Neo identified MyMingo Finance as the best choice.
MyMingo was developed by Adapted Consulting AS and launched in April of 2021. It has an open team culture, international project experience and experience with blockchain smart contracts especially DeFi projects. Under the management of MyMingo, Flamingo will transform into a fully community-driven project and play a role in the Neo Ecosystem.
Flamingo’s Future
MyMingo’s plans include aggressively marketing Flamingo to reach new users. It also plans to add more functionality and capabilities to Flamingo. A Flamingo DEX offering tentatively titled Flamingo IDO is also in the pipeline. With the support of the Neo community, Flamingo may continue to grow and develop.
As of date, the price of Flamingo is $0.542403 USD and the 24-hour trading volume is $30,923,810 USD. It is up 0.72% in the last 24 hours and is ranked #476 on CoinMarketCap. It has a live market cap of $81,360,439 USD and a circulating supply of 150,000,000 FLM coins.
