Flamingo Finance is constructing the infrastructure for DeFi within the Neo ecosystem. Steven Liu, Neo Basis technologist and Flamingo tech lead, talks about this in episode 49 of the Neo News Today podcast.
Since 2017, Neo’s imaginative and prescient has centered on the good economic system, the digitization and administration of property. Cultivating this imaginative and prescient, the Neo ecosystem fostered non-custodial exchanges and a stablecoin venture. However Liu and his colleagues at Neo International Improvement requested, “How can Neo assist construct infrastructure for DeFi?”
The Flamingo platform is incubated by NGD, which has allowed the crew to construct a DeFi platform with distinctive traits. Via the Poly Community interoperability protocol, Flamingo provides cross-chain swapping with Neo, Ethereum, and Switcheo. Flamingo additionally serves as a protocol cluster that permits customers to swap, wrap, stake, vote, and shortly commerce in a single platform.
To this point, Flamingo has been totally developed in-house, though Liu and the Flamingo crew don’t wish to be the arbiters of decentralized finance within the Neo ecosystem. As an alternative, they envision builders from throughout the neighborhood constructing upon the inspiration NGD has laid. In keeping with Liu:
Flamingo is just not [building] every part for Neo. Simply the infrastructure, the essential issues that present liquidity and [allow users] customers [to wrap] property from different blockchains to Neo. I believe on Flamingo, [the] builders and communities can do lots of the work, [with things like] a lending and borrowing system, insurance coverage, [and] oracles.
To enhance upon the infrastructure, Flamingo lately handed FIP #2. The FIP is for a big improve to revive the worth pegging between cross-chain property and authentic collateral property, and for future-proofing the platform for added asset circulate design adjustments. The FIP handed with round 11% of whole FLM voting in favor, towards the requirement of simply over 3%.
In the end, Liu notes, his imaginative and prescient for Flamingo is to “be the doorway [for] customers and merchants to affix the brand new DeFi world, and join real-world monetary exercise with the blockchain world.”
The complete NNT podcast episode might be discovered under: