The competition and the race is fierce in the decentralized finance arena, despite the negative developments in the past days related to the decline in the prices of many decentralized finance currencies and the collapse of some of them at high rates.

But that did not stop Binance from continuing to include more new decentralized finance projects.

where was Advertising Recently, Binance announced the inclusion of a new project called “Flamingo” in a digital currency “FLM”, which will be available from September 27.

The digital currency “FLM” is the governance currency of the protocol based on the “flamingo.finance” project built on the Neo blockchain.

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According to the announcement, users can do “yield farming” in FLM by depositing “BNB” and “BUSD”.

The “Flamingo” project is designed to provide its users with a comprehensive decentralized financing infrastructure, where “Flamingo” users can take advantage of its multiple functions to trade, share and provide liquidity in different digital currencies.

Additionally, the Flamingo Project has created a roadmap for the launch of the following products and features:

Pool, swaps, perpetual contracts and a DAO governance platform.

Among the products mentioned above, the aggregator feature could offer more appeal to users as it would allow them to use Flamingo as a gateway over the network to use Bitcoin, Ethereum, NEO, Ontology, Cosmos and Tether.

Users will be able to take said cryptocurrencies and deposit them as coins with the “NEP-5” standard to create the following coins:

nBTC, nETH, nUSD, nONT.

These premium versions will be interchangeable with each other and will allow owners to exchange back to get the original cryptocurrency.

Distribution of FLM tokens on Binance:

Binance Launchpool will see an allocation of 6,250,000 FLM, which means that 4.17% of the total supply of FLM cryptocurrency set at 150,000,000 will be distributed across Binance.

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In addition, the total supply of FLM tokens will have the following distribution:

29.17% to support participation in the first phase of the project, while 53.33% will be allocated to betting liquidity, 10% will be used for FUSD which will serve as the project’s stable currency, and finally 3.33% for margin bonuses for perpetual contracts that will have a leverage of up to 10x.

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