Flamingo Finance has announced it is seeking an independent team to take responsibility for the development and management of Neo’s DeFi platform. While Neo Global Development will accept submissions and screen applicants, ultimately, the FLM token holders will vote on approving the team. NGD said:

[Flamingo’s] current development and day-to-day operations have thus far been supported by NGD. However, as a community-driven open platform, we are exploring ways to nurture and grow this project into the next stage together with the community. As the project matures, we aim to transform Flamingo into a more community-driven project, led by an independent team chosen from the community.

NGD is seeking the following qualifications from teams submitting a proposal:

  • A complete and stable team structure
  • Strong familiarity with blockchain smart contracts, particularly with DeFi projects
  • International project operation experience
  • Open team culture and excellent communication skills

Flamingo launched in Sep. 2020 with NGD covering initial project development, operation, and promotion costs. Looking forward, they anticipate monthly operating expenses of approximately US $75,000. To subsidize Flamingo’s development costs, NGD will soon propose FIP #3 to establish a fund to support the subsequent development team.

At the time of press, NGD plans to set aside 2.5 million FLM tokens (roughly $1.75 million) as capital to support future activities.

Any team interested in building and maintaining the Flamingo DeFi platform is encouraged to reach out to NGD at contact@flamingo.finance.

Until successors are in place, NGD will continue operating and maintaining Flamingo.

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