Flamingo Finance has rolled out three new features on its DeFi platform. The new functionalities include the launch of Reverse Pools and single-click features, PoolSwap, and ReStake. Reverse Pools are designed to reward liquidity pool providers in tokens other than FLM. In contrast, the other two features simplify the process of moving between liquidity pools and contributing rewards back into liquidity pools.
Reverse Pools allow users to stake FLM and “x” token to a pool and, in return, receive “x” token as a reward instead of FLM. The first two reverse pools to launch on Flamingo are FRP-FLM-NUDES and FRP-FLM-CANDY. Users who contribute to these two pools will receive NUDES and CANDY tokens as rewards, respectively.
NUDES and CANDY are newly listed for trading on Flamingo. NUDES is the first memecoin to land on the Neo N3 blockchain, and is based on the joke that token holders can “send NUDES” to one another. NUDES are NEP-17 tokens, and in reality, no adult content is exchanged. CANDY is a NEP-17 community token designed to reward people for interacting with dApps in the Neo ecosystem.
If a project is interested in getting their token listed in a Reverse Pool on Flamingo, they can fill out a listing application.
PoolSwap and ReStake Features
PoolSwap removes the complexity of moving liquidity from one FLP to another. Users no longer need to unstake from an LP, remove the liquidity of both tokens, trade the assets for another LP, and go through the liquidity adding and staking process again. Now, with a single click function, they can choose an amount of FLP tokens from one pool and contribute them to another pool through the PoolSwap.
Through the ReStake function, users can convert their FLM rewards from a liquidity pool and contribute to that same LP. Flamingo users can claim FLM, convert the FLM into both the tokens in the LP, add liquidity to the LP, and stake the FLP with a single click. Previously, users were required to perform each step of the process individually.
Looking forward, Flamingo’s short-term roadmap includes the release of a single-stake pool in Q1. Single-stake pools are individual pools where Flamingo users can stake FLM alone and receive FLM as a reward.
The Reverse Pools announcement can be found at the link below:
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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