The Flamingo team has launched WETH migration for users to convert from pnWETH to fWETH. Liquidity providers must migrate WETH to continue receiving FLM rewards on the Flamingo vault module.
Rewards for pnWETH concluded at 8:00 a.m. (UTC) on Wednesday, March 3. FLM rewards began for the new FLP-fWETH-nNEO liquidity pool at 12:30 p.m. the same day.
The migration is part of an asset flow redesign announced in Feb. 2021, voted into action in FIP #2. FIP #2 outlined a mechanism to correct price disparities between synthetic assets, among other changes to make the Flamingo platform more user-friendly.
Flamingo has released a step-by-step guide to assist users through the migration process.
Looking forward, Flamingo intends to migrate WBTC and USDT during the week of March 8.
The full article can be found at the link below:
https://medium.com/flamingo-finance/asset-flow-redesign-weth-migration-launched-8aaad4be5777
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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