Flamingo Finance is a decentralised finance (DeFi) platform built on the Neo blockchain. It offers a range of services, including token conversion, liquidity management, and yield-generating staking. It incorporates advanced features for transaction efficiency and cross-chain interoperability.
Flamingo Finance operates through several components integrated into a single DeFi ecosystem. It uses smart contracts on the Neo blockchain to automate transactions and employs the Poly Network interoperability protocol to enable cross-chain transactions. The platform features a cross-blockchain asset gateway, a liquidity pool, an asset vault, perpetual contracts, and a decentralised governance organisation (DAO).
Flamingo Finance's use cases include:
Flamingo Finance was launched in September 2020, incubated by Neo Global Development (NGD). Within a week of launch, it reached over $1.5 billion in total value locked (TVL). In October 2021, the project transitioned to MyMingo for further development and management. Significant advancements include the implementation of a governance mechanism through DAO and the introduction of various features to enhance platform capabilities.