Flamingo is an inter-operable FULL-stack DeFi protocol based on Neo. Flamingo consists of five modules, including cross-chain asset gateway -- Wrapper, on-chain asset liquidity exchange -- Swap, one-stop asset management center -- Vault, and AMM-based Perp. And a decentralized governance mechanism - DAO.
Flamingo is incubated by Neo Global Development (NGD is the executive arm of the Neo Foundation) and is an important part of Neo's smart economy vision. NGD will facilitate the initial development of the Flamingo project, which will evolve from proof-of-Authority (POA) to DAO as the project matures. The Flamingo project will eventually be entirely community-governed.
Neo's Flamingo's governance token is FLM, which is issued on a contribution-by-contribution basis. 100% of the tokens are distributed to project participants. In other words, no institutional private placement, no founder distribution. In addition to FLM token incentives for pledging mainstream assets and providing liquidity, participation in Flamingo governance can also be rewarded. FLM itself carries the value of asset cross-chain, DEX, synthetic asset, lending and other protocols, and also serves the governance of this full-stack protocol. As such, it is a native value carrier in Neo's Flamingo DeFi ecosystem, capturing the value of its full-stack protocols, fees, governance, and so on.