FIP#3

FIP#3 Adjustment of FLM release and distribution schedule

Voting period: 8th-14th April 2021

Summary

After the implementation of FIP#2, the team would like to propose some adjustments to FLM release and distribution schedule in order to maintain the tokenomics as stated in the Litepaper.

Proposal details

    The release rate of FLM will be halved to 2.5 million FLM per week from 22th April 2021.
    A new trading pair cGAS/nNEO will be added from 15th April 2021.
    FLM distribution in Vault will be adjusted as below to incentivize users providing liquidity to cGAS/nNEO, from 15th April 2021.
      FLP-FLM-nNEO 20%
      FLP-fWBTC-nNEO 20%
      FLP-nNEO-fUSDT 20%
      FLP-fWBTC-fUSDT 17.5%
      FLP-fWETH-nNEO 10%
      FLP-pONT-nNEO 5%
      FLP-SWTH-nNEO 2.5%
      FLP-cGAS-nNEO 5%
    Incubated by NGD, Flamingo’s development and operations have so far been completely funded by NGD. As the project grows into maturation, NGD will gradually take action to develop Flamingo as an independent community-driven ecosystem project, including recruiting an independent project team. NGD has sent out an open letter to the community detailing the worldwide open recruitment process for the independent project team as well as budget estimation of the dedicated project fund. To bootstrap the independent project operation, the current team would propose to set up a dedicated project fund (50% of FLM generated in the week before halving, 2.5 million in total will be transferred to an open multi-sig address) to serve as the independent team’s capital reserve for future project activities.
Last modified 6mo ago