MyMingo co-founders, Odd Jørgen Røland and Adrian Fjellberg, joined Neo Global Development’s AMA series, Neo Live, on Tuesday, Oct. 26. The MyMingo team recently assumed responsibility for the development, maintenance, and marketing of Flamingo Finance.
In the AMA, the trio offered an overview of the new Flamingo team and why NGD chose them to lead Flamingo. They also discussed what collaboration between the two entities might look like moving forward and plans for Neo N3.
A transcript of the AMA can be found below:
Sam Wang (NGD Marketing): Flamingo is an interoperable, full-stack decentralized finance protocol built on the Neo blockchain. Flamingo is comprised of five main components, including Wrapper – a cross-chain asset gateway, Swap – an on-chain liquidity provider, Vault – a one-stop asset manager, Perp – an AMM-based perpetual contract trading platform, and also DAO – a decentralized governance mechanism. FLM is the governance token of Flamingo and has been 100% distributed to the community based on participation.
Here are some brief introductions of today’s AMA participants.
Odd Jørgen Røland: In 2016, I co-founded Adapted with Adrian, a Norwegian software company. At Adapted, I worked as a manager and created several different SaaS products which are used by some of the largest companies in Norway like Burger King, Starbucks, and DNB (Scandinavia’s biggest bank). I got into the crypto space in 2011. I’m familiar with most languages, but prefer Python for the backend and Vue/Html/Scss for the frontend. I have a lot of SysOp experience and am familiar with running load-balanced, cluster, or sharded servers.
Adrian Fjellberg: I have worked for over ten years in the field of design and software development. I co-founded a software company, Adapted, in 2016 together with Odd, where we created various SaaS products for Norwegian markets. I got into the crypto space in 2017. I have created designs and developed large companies, and I know how to find good UI/UX solutions for advanced problems. To get adoption for crypto, we need easily accessible solutions that everyone is capable of using, and these solutions have to be made with great UI. I also have a degree as a 3D designer from Noroff School of Technology in Oslo, Norway.
John Wang: As the head of the Neo Ecosystem Growth team, John Wang has years of experience in management consulting and has launched various successful businesses and projects, making him a leading entrepreneur in his own right. He is currently leading Neo’s ecosystem growth and development.
Q1: Congratulations on taking over the Flamingo project! Could you please introduce your team?
Odd Jørgen Røland (MyMingo co-founder): First of all! Thanks a lot for that! It’s a pleasure to be able to work with NGD and Flamingo. We are the new Flamingo team. The team currently has six members that all have their niche. The team includes:
- Odd: Senior full-stack developer and Business developer.
- Adrian: Senior full-stack developer and 3D & 2D designer/animator.
- Bob: Whitehat hacker and security expert.
- Masongos: DeFi advisor and crypto expert.
- Jobster: Community and social media.
- tohbeats: Community.
Jobster and tohbeats joined our team yesterday after showing an excellent engagement for Flamingo on the official Discord server.
Q2: Why did NGD select the MyMingo team to manage the Flamingo project?
John Wang (NGD Eco Growth Director): After we announced that Flamingo is looking for an independent team to manage, we received a number of applications and talked with the teams that applied.
MyMingo looked really professional and so we started working with them on some first steps. They have all the required members and good experience. They delivered on the first steps and we believe they are the right team to grow Flamingo!
Q3: From your perspective, can you briefly introduce Flamingo and its roadmap?
Odd: Flamingo is a Neo dApp for DeFi. The current Flamingo version lives on Neo Legacy, and we are currently working on migrating it to N3. On Flamingo, users can swap tokens, add liquidity to the swap pools, and earn yield.
On our short-term roadmap is the migration of Flamingo and integration of MyMingo features like SmartStake, which will be new and improved. We aim to build a deeper connection with the community and interact more with them on social media platforms.
We are working on an initial DEX offering and a Lottery module for Flamingo in the longer term. These and more details can be found on the roadmap here:
Q4: What kinds of collaboration will NGD and Flamingo have in the future?
John: Well, Flamingo now has an independent team, so the future strategy depends on them, but we will discuss some big decisions together.
Migration, IDO, new assets, and new yield farming are future items that will involve collaboration.
Q5: What will the N3 version of Flamingo look like? Can you share some details?
Odd: We asked on Twitter if the community wanted a new update. Unfortunately, Atlazor did not have the time to make a full video update as he is very busy working on N3 migration. But I made this:
Adrian Fjellberg (MyMingo co-founder): We recommend that everyone here subscribe to the Flamingo Finance YouTube channel to get short video updates.
Q6: Why did you choose to run Flamingo on the Neo network? What features do you think that Neo provides to help Flamingo development?
Odd: We did not choose Flamingo; Flamingo chose us. But it’s a good question about why we work on Neo and why we want to work with Flamingo on Neo.
If you look at what Neo offers the developer, you can’t find any other blockchain that can compare, not even close. Having the best tools and foundation for a project is extremely important for it to succeed. Neo makes it easy for us to develop new features fast and secure.
Q7: Other than DeFi, what types of other projects or resources built on Neo are coming soon?
John: We have some good Neo Frontier Launchpad hackathon graduates, they are building right now. They are projects in gaming (TOTHEMOON), NFT (Rentfuse, Humswap), and decentralization of traditional online services (NekoHit).
Q8: Flamingo is a cross-chain platform. Do you think that moving onto other blockchains could be possible in the near future?
Adrian: The fact that Flamingo is cross-chain is powerful. In the future, we will increase cross-chain functionality and add new tokens and possibly aggregated yield from other DeFi platforms. By leveraging Poly Network, we can move fast and implement new cross-chain features in no time!
Q9: How will Flamingo benefit from the team change?
Odd: For Flamingo users, the first upgrade is a merging of MyMingo and Flamingo. In the future, we have many plans and are already working on some of them (IDO, Lottery). On N3, Flamingo can pick up the pace, and it brings us innovative and new features. The future on N3 is bright.
Q10: What is your team’s strategy to increase attraction towards Flamingo?
Odd: We are a dedicated team that believes in crypto as a future, maybe not today, perhaps not tomorrow, but crypto and web 3.0 will be the new standard. The road is long, and it requires us to plan for our destination. The teams that burn out quickly are the ones who try to sprint a marathon.
Our vision is simple: Create an easy-to-use DeFi platform for users of all ages.
Q11: Is there a timetable for Flamingo’s migration to N3?
Adrian: Migration is scheduled for mid-November, but it’s a tentative date and not 100% confirmed.
Q12: What is your team’s vision for growing the Flamingo platform?
Adrian: We believe that ease-of-use and good onboarding tools are critical to growing the adoption of Flamingo. Now we see good usage and liquidity on the platform, but there is still a lot to be unlocked if we manage to lower the barrier of entry to DeFi. That is why we will implement a fiat-to-crypto gateway and easy-to-use onboarding tools soon to onboard more users and liquidity. Let the Flamingos fly to all parts of the world.
Q13: Is Flamingo going to offer Perp contracts on N3? If so, will there be another Perp competition?
Odd: Yes, NGD will continue to make the perpetual contracts. Bringing live perpetual trading to the blockchain is hard, but they are doing it!
For future competitions, we have not talked about it or scheduled anything.
Q14: Do you have audit certificates for the Flamingo code?
Odd: All contracts go through audits and are adequately tested. We also have a whitehat hacker on our team that takes care of more than just blockchain security.
Q15: What are the requirements to become a liquidity provider?
A: If you’re referring to staking in the liquidity pools, you only need a Neo wallet and any token supported by Flamingo (I.e., NEO or GAS).
To participate, you can easily use the SmartStake feature that will launch on Flamingo N3 and input how much you want to stake. Voilà, you will now receive yield from Flamingo.
Q16: What will be the use case of the native FLM token of the Flamingo ecosystem?
Adrian: Soon, the use case of FLM will increase as we add more features like the Lottery, IDO, and new yield farms. For example, users will gain investor privileges by staking FLM in the IDO, and you can buy lottery tickets using FLM.
More FLM utility will be added as we continue to develop.
Q17: Does the team take potential bear markets into consideration of plans? If so, how?
Odd: I can see that this question was asked 500 times or so, but it is a good question, so I will answer it. A bear market will come, and if we couldn’t handle it and get cold feet, we would be here for all the wrong reasons.
We had the last “bear” when bitcoin went from 64k to 30k, NGD asked us if we were still working, and the answer was easy: Now its time to work, not all chats are silent, and we can focus on the tasks until the next bull market when the channels are full of questions again.
Q18: Are there any plans for the integration of NFTs into the Flamingo platform?
Odd: NFT’s are hot, and Neo has the Neoverse. Maybe in the future, there will be a utility for some NFT’s on Flamingo. Nothing is planned, but NFTs are fun!
Q19: Do you have any bug bounty programs for finding bugs or security breaches?
Odd: This is coming! Bug bounties are a very important part of all systems! That can give hackers a legit way of helping and making money!
Q20: Where is Flamingo going to be ten years from now?
Adrian: Flamingo will be everywhere and the de-facto choice for DeFi.
Sam: Thanks again for your participation, MyMingo team, and John!
Odd: This was very fun! And, it was my pleasure.
Adrian: Thanks to everyone for joining in. This was fun!
John: Thank you, everyone, for showing up! I’m really excited about the upcoming updates for Flamingo.
Note: Some edits have been made for formatting and readability.
The full Neo Live AMA can be found at the link below: