A Flamingo Is Born

My birth in crypto came as an epiphany while staking assets on Flamingo Finance (“Flamingo”). The first time I used the protocol, crypto, DeFi, and the future of finance suddenly “clicked” for me. I remember vividly the excitement of liquidity pools, estimating yields, and understanding the fundamental reality that value, profit, and economic benefit do not have to pass through the hands of an intermediary third party for me to receive it. I contributed value to the protocol, and the protocol rewarded me for doing so. The fees were small, and I maintained control of my assets. It was an amazing, true watershed moment. I felt as if I had just come into a new world. I was born.

So, I did what any person in crypto does after discovering “the future of finance.” I created an anon Twitter (X) account to share memes and shit posts. What a time to be alive!

I was fortunate enough to have a friend who introduced me to Flamingo. They helped me by walking me through the steps of swapping and staking. They explained different concepts to me and generally answered any questions I had. They also did me the favor of introducing me to Flamingo before N3 was even launched. It was early fall 2021. Since then, I’ve been able to play around with the protocol. Learn what fits my risk profiles and investment needs. I’ve seen the protocol's total value locked (“TVL”) and volume grow over time. It’s been awesome to not only witness but also be a part of it.

If you have been active within the Neo ecosystem for the past couple of years, then odds are that you, too, have explored Flamingo Finance. If you haven’t, then now is a good time to become familiar.

Maybe you have been holding Neo since Legacy and just woke up to N3 because of the recent price action. Now that NEO is in the top 75 again, you may have migrated your tokens, learned about claiming GAS, and wondered what else you can do in Neo. Welcome! Flamingo Finance and many other projects are ready for you.

The purpose of this article is to bring your attention to Flamingo Finance. Whether it be for the first time or once more. It doesn’t matter if you are a NEO Knight, a casual ecosystem participant, or someone doing their own research on Neo before committing to the token; now is the time to focus on Flamingo.

With the resurgence in the NEO token price, the coming launch of NEO X, and the upcoming features of Flamingo, it is the perfect time to dip your toes in the lagoon.

Pump Up The Volume

Trading volume on Flamingo has been trending upwards. The total volume for March 2024 was $58.35M. That is the second-highest monthly total since February 2023. Thus far in April, the total volume has surpassed the prior month at $68.89M.

Why does volume matter? For many traders, volume is the leading indicator, besides price, used in evaluating a token or protocol. It can serve as a confirmation or rejection of a trading hypothesis. Volume is typically an indicator of value accrual to the protocol or token holders.

The price action of the Flamingo Finance token, $FLM, directly reflected the volume of the DEX during March and April. The price performance of the Flamingo DEX is correlated to transaction volumes, which is a fundamental operating metric.

The price action of $FLM directly reacts to the price action of $NEO as well. They share similar peaks and valleys, and often $NEO indicates what $FLM will do next.

With $NEO entering a more bullish phase (read “The Bullish Case for Neo”) and climbing the top 100 token chart, it stands to reason that more liquidity will enter the ecosystem and find its way to Flamingo Finance.

X Marks The Pump

The launch of NEO X can impact the Neo ecosystem and, by inclusion, Flamingo in many ways. None would be greater than the entrance of a widely adopted stablecoin to the ecosystem (read “I’m an extremely stable genius”).

Since the EVM ecosystem is the largest in crypto, and it already has the most stablecoins, the NEO X EVM sidechain will open the door to Tether, USDC, FDUSDC, and others.

How can this impact TVL on Flamingo? Looking at the example of MAKER years ago, the TVL grew when USDC deposits reached nearly $400 million in one month. That was 4 years ago. Today, the market cap of USDC alone is $33 billion. The stablecoin market liquidity is extensive, and looking for places to be put to work.

Pointing out this example is not to suggest that Flamingo will receive hundreds of millions worth of deposits in stablecoins simply because NEO X launches. There is a lot of work that has to happen in between. However, I bring up the example of Maker because it demonstrates the impact stablecoin deposits can have.

The Flock Grows

The most impressive thing to see with Flamingo is the role the DEX plays in community building within the NEO ecosystem. The team behind Flamingo has actively engaged members of their own community and supported efforts within the Neo ecosystem.

Flamingo has become a beacon of activity within in Neo. Besides their own never-ending pursuit of improving the protocol to become the best DEX possible (check out their frequent updates to their roadmap), the team has also taken an active role in promoting ecosystem activity. From supporting meme2earn.com (SEND NUDES), different community project tokens on Flamingo, and content creators within Neo like Somniumwave to creating their ambassador program, protocol education, and active Discord community, Flamingo is an integral part of Neo.

The team behind Flamingo is also keenly aware of community needs and requests. They have demonstrated this through action many times. Recent examples are evident in their efforts to improve their UX as well as sponsorship of a Dashboard-ATHON. As to the former case of the UX, the team brought on the talents of another developer in the Neo ecosystem to help them improve it. The later sponsored dashboard-athon is a hackathon to build a DeFi dashboard for Flamingo. Data visualization of analytics has been a desire within the community for a while. This dashboard will be a significant step towards data access for Flamingo and Neo. It will also be important for attracting new people to Neo.

Flamingo’s support exists within the design of the DEX as well. The FLM tokenomics incentivize liquidity providers, and even more impactful to investors, the DEX-traded fund Flamingo Flund (soon to become FLOCKS) distributes a portion of the FLM minting rewards and a percentage of all activities on the platform. As volume grows, this is a major consideration for being an investor on Flamingo.

Flamingo has all of the key ingredients of a compelling narrative for a growing Neo community to coalesce around. When new market participants arrive in Neo, Flamingo will be one of the first places they explore. They’ll see the community engagement and genuine interest the protocol takes in other Neo projects. The result of this is that Flamingo is a community of stakeholders who are motivated to see the DEX succeed.

The Lagoon Is Ready For You

As a community member or Neo curious person, now is the time to join the Flamingo flock. Before the hype and ahead of the FOMO, the present is perfect timing. FLOCKS and the new order book are nearly here. NEO X is coming very soon, and the attention on Neo is about to blast off.

The benefits of being an early investor in FLOCKS or a participant in Flamingo before the volume takes off are where the real opportunity lies. Like most things in life, timing is everything.

We’ve already seen what has happened in the past when NEO X announcements made news (see examples here and here). When NEO X is actually launched, there will be a flow of capital into Flamingo. You can be there and participate in the rewards of the volume when it does. Flamingo has made it easy for you. Join the flock.

Flamingo Finance Resources

Flamingo Finance does a wonderful job of providing educational resources and content. Additionally, there are content creators also providing information about Flamingo. Here are some links to those:

• The Flamingo Docs https://flamingo-1.gitbook.io/user-guide

• The Flamingo Roadmap https://www.flamingo.finance/roadmap

• Bordois - Head of Content and Marketing at Flamingo - Medium Articles https://medium.com/@hellobordois

• 6 Reasons to Keep and Eye on Flamingo Finance in 2024 by Somnium Wave - https://www.youtube.com/watch?v=mZOKRxYpV-8

• First Look at FLOCKS UI by Somnium Wave - https://www.youtube.com/watch?v=eirhMJ9EDdg

• Neo’s Extensive DeFi Platform | Flamingo Finance Overview by Unlocking the Chain - https://www.youtube.com/watch?v=2m-3uYWw1eQ

• Of course, the archives of Neo News Today - https://neonewstoday.com/?s=Flamingo+Finance

Flamingo Joe Public Wallet

After about of month of waiting to make any moves beyond voting with 5 GAS, the 1000 FLM were finally used. On April 19, 2024 410.53 FLUND tokens were purchased with 1000 FLM. The plan is to allocate these FLUND tokents to FLOCKS when that becomes available.

Additionally, 3 GAS was sent to the NEO BOX wallet address on April 19th in support of their new project.

An additional 15 GAS is available to use at this time. Any suggestions on the best use of that amount of $GAS for long-term investment?

Funds for the Flamingo Joe Public Wallet are donated or raised from the profits of sales of merchandise. You can find that merchandise at flamingojoe.store. Any proceeds that are deposited to the Public Wallet will be transparently summarized. The shop isn’t meant to be a source of revenue for me personally.

It’s time to transform your newsletter goals into reality with beehiiv.

Born from the minds behind Morning Brew, beehiiv offers an intuitive, no-code platform that simplifies newsletter creation and website design. Equip yourself with advanced growth tools, monetization strategies, and analytics that matter.

Trusted by the world's leading newsletters, beehiiv is not only top-tier but also the most wallet-friendly option available.

Begin your free trial today — no credit card, no hassle.

Start building →