Flamingo Finance Flm Price USD

Flamingo is a platform for decentralised finance (DeFi) that is built on the Neo blockchain and the Poly Network interoperability protocol. It combines a cross-blockchain asset gateway (wrapper), an on-blockchain liquidity pool (swap), a blockchain asset vault, a perpetual contract trading platform (perp), and a decentralised governance organisation (dgo) into a single ecosystem (DAO).

Da Hongfei, a Chinese entrepreneur, started Flamingo. He is also known for co-founding the blockchain network Neo, which Flamingo is based on. Neo is one of Ethereum's main competitors. Hongfei also helped to start a private blockchain services company called OnChain.

Da Hongfei has a degree in English and technology from the South China University of Technology and was the CEO of the IntPass Consulting firm before he taught himself how to code and joined the blockchain scene in 2013–2014.

Flamingo sees itself as a single platform that brings together several decentralised financial tools for Neo into a single ecosystem that will be run by its users through a decentralised autonomous organisation.

Decentralized finance is a new, fast-growing trend in the cryptocurrency industry. It is made up of different financial solutions that often work on top of cryptocurrency blockchains. DeFi platforms work as a kind of second-layer industry, and their idea is similar to that of the cryptocurrency industry as a whole: getting rid of third parties and single points of failure in financial and money systems. After starting up at the beginning of 2019, the DeFi industry already had more than $4 billion in locked collateral assets by the middle of 2020.

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