What do we lack in the crypto world? You may think of scalability as Ethereum gas prices skyrocket. Perhaps, your thoughts go to the lack of a mechanism to combat rampant scams and fraudulent activity within the DeFi space.
Another problem may spring up in your mind: the thought of crypto as a zero-sum game where winning for one person equates to losing for another.
Interoperability: How to Escape a Game Where Nobody Wins
This issue that often receives little notice is the lack of unity among those in the decentralization space. Specific crypto communities often fall into tribalistic habits where the focus is only on profit for their own community.
Due to a lack of interoperability, the zero-sum game plays on. So far, there have not been any unifying protocols that allow users of the crypto community to benefit as a whole.
What if crypto community could come together in an ecosystem where cross-chain collaboration was the norm?
What if users could vote on chain-agnostic proposals that further adoption of decentralized services while lessening the need for single points of reference that often lead to failure? Crypto would no longer be a game, but a living, breathing, and thriving ecosystem.
A Dream of Flamingos
We might finally head towards cryptocurrency adoption becoming feasible rather than a pipe dream perpetuated by moon boys and pump-and-dumpers.
It seems impossible. But in the crypto world, we deal with impossible things daily. Earlier, we talked about what we lack in crypto. Let’s talk about one attempt to fill that gap: Flamingo.
Flamingo is an interoperable, full-stack decentralized finance protocol built on the Neo blockchain. The protocol consists of five main features:
- Wrapper – a crosschain asset gateway
- Swap – an on-chain liquidity provider
- Vault – a one-stop asset manager
- Perp – an AMM-based perpetual contract trading platform
- DAO – a decentralized governance mechanism.
The FLM token is the governance token of Flamingo and will be 100% distributed to the community based on participation.
Six Fast Flamingo Questions
We caught up with Yuan, the product lead of Flamingo, and discussed Flamingo’s vision to not only be a key player in the crypto space but to become a bridge that enables the crypto community to thrive in chain-agnostic situations.
1. Where do you see Flamingo positioned in the DeFi space?
Flamingo is a full-stack cross-chain DeFi protocol on Neo blockchain.
Three main features include:
- Interoperability: Powered by Poly Network, we can provide frictionless migration of any asset between multiple blockchains (Neo, Ontology for now, Bitcoin and COSMOSSDK based blockchain in the second phase)
- Capital efficiency: the ability to generate yield on both Ethereum and Neo. In addition, on the Neo side, the same fund can be used to provide liquidity and minting stablecoins, and later engaged in perpetual trading at the same time)
- Integrated protocol cluster: providing cross-chain asset gateway, AMM, stablecoins, a perpetual trading component with seamless user experience and architectural efficiency.
Ethereum scalability will not be solved in at least 2 years, so this is a great window for other blockchains to thrive.
2. Why is the Neo community a good fit for Flamingo?
- An abundance of assets:
- Crosschain assets (through Polynetwork )
- STs (collaborating with partners such as Liquefy and InterWork Alliance)
- A robust smart contract system and good infrastructure
- Strong community support
3. How does Flamingo benefit not only Neo ecosystem holders, but all of crypto?
- By demonstrating a new paradigm of frictionless asset movement among blockchains
- It is an example of how assets can generating yield simultaneously on multiple chains
- It shows an organized way to build up the necessary DeFi infrastructure on a blockchain.
4. What are some ways that users can contribute to the Flamingo community other than staking?
- We welcome developers to build on Flamingo to realize more functions or build an independent project that uses functionalities on Flamingo
- Participate in Governance through DAO in a later phase
- Engage in liquidity provision, and stablecoin generation in a cautious way.
5. What can you share about yourself in 1 sentence?
Stay curious, stay passionate.
6. When exchange?
Binance has already announced its listing of FLM. #Flamingo