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What is Flamingo coin (FLM) and how does it work?

by Financial Economy

FLM Coin is the cryptocurrency of the Flamingo platform. It is a platform that uses a large DeFi infrastructure and many modules together with FLM Coin. The aim is to enable clustering of DeFi protocols. It is possible for users with FLM Coins to start earning passive income if they lock themselves up. Information about what is Flamingo coin (FLM), how it works, how to buy it, how much it is, on which exchange, etc is in continuation of the article. You can browse here for information about Merit Circle coin (MC).

What is Flamingo coin (FLM) and how does it work?

Flamingo is a Neo blockchain based platform. It has the ability to combine several DeFi applications into a single ecosystem. It is the platform that combines cross-network asset gateway, on-chain liquidity pool, blockchain asset vault, perpetual contract trading platform and decentralized governance institution applications in a single ecosystem.

Used as the governance token of the Flamingo platform, FLM allows its holders to have a say over the platform parameters by voting and works by being divided into 6 main components:

  • Swap: On-chain liquidity provider
  • Vault: Single-center asset manager
  • Perp: AMM-based contract trading platform
  • FUSD: Synthetic stablecoin
  • DAO: Decentralized Autonomous Organization providing platform management
  • Wrapper: Cross-chain asset gateway

Working with these components, FLM Coin is used for:

  • Cross-chain asset staking
  • Staking liquidity providers
  • FUSD issuance
  • Investing FUSD in perpetual contract transactions
  • Participation in DAO management

Flamingo coin founders!

The founder of FLM Coin is Chinese entrepreneur Da Hongfei. Hongfei, also known as the co-founder of the Neo blockchain network, is also the co-founder of OnChain. He is an entrepreneur who learned to code by himself and turned to this field. It launched FLM Coin on September 28, 2020.

How to buy FLM coin and on which exchange?

Flamingo coin is listed some cryptocurrency exchanges such as Binance, OKX, FTX, Mandala Exchange, Gate.io, etc. Also it can be purchased these exchanges. However, before investing, it is necessary to make sure that the exchange and the crypto project is “RELIABLE”. It is so important for investors.

FLM coin price!

As on February 28, 2022, at the time of the writing,1 FLM coin price is around $0,19 (price can change instantly).

Caution: The information contained in this content is for general informational purposes only. It is not investment advice.

For information about cryptocurrency: https://en.wikipedia.org/wiki/Cryptocurrency

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