Flamingo’s FLM token is now minting at a 50/50 rate across the Neo Legacy and N3 networks. FLM rewards are distributed to users who stake tokens and provide liquidity to the DeFi platform. To assist users in migrating assets from Legacy to N3, the Flamingo team has also prepared a guide.
On Dec. 3, Flamingo began migrating to N3 with 25% of new FLM minting on N3 and 75% on Legacy. FLM rewards on Flamingo Legacy are reducing by 25% every 10 days, while equally increasing on Flamingo N3. On Dec. 23, the FLM minting ratio will change to 75% on N3 and 25% on Legacy.
Beginning Jan. 3, 2022, all new FLM tokens will be minted on Flamingo N3.
Competitions to Earn FLM Rewards
Flamingo is also participating in two ongoing community competitions within the Neo ecosystem – one with GhostMarket and the other with Neospective.
First is the NFT trading competition launched on GhostMarket. Participants can enter for a chance to win from a pool of 1,000 FLM by buying or selling any NFT using FLM as the currency. The Flamingo team will take a snapshot of the Neo blockchain at 10:00 p.m. (UTC) on Monday, Dec. 27, and reward four winners at random.
Second is the Neospective content creation contest, planned as a multi-round event. The current round, focusing on creative diagram designs, concludes Saturday, Jan. 8. Up to 24 submissions will be rewarded, with a first-place prize of US $600 awarded in $NEO.
Beyond the NGD rewards, Flamingo is sponsoring a sub-track to the competition where participants will compete to win from a pool of 1,000 FLM. The development team has shared a press kit to assist in Flamingo-based designs.
More information about the trading competition can be found at the link below: