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Official Announcement: Flamingo Swap Launch and FLM Rewards

Official Announcement: Flamingo Swap Launch and FLM Rewards

Flamingo Swap will be launched on 5th Oct, 2020. Details about Swap and staking rewards are as follows:

Timeline Distribution of Mint Rush 2 staking rewards will be completed at UTC 11:00:00, 10/05/2020. Liquidity provision and token swaps will be available in Swap from UTC 12:00:00, 10/05/2020. Staking rewards for Liquidity Provider (LP) Tokens starts from UTC 13:00:00, 10/05/2020. Supported Trading Pairs at Launch

· FLM/nNEO

· pnWBTC/nNEO

· pnWETH/nNEO

· pONT/nNEO

· nNEO/pnUSDT

· pnWBTC/pnUSDT

More functionalities such as user-created trading pair and transaction routing will be available soon. Please refer to the User Guide on how to use Swap.

Details Regarding Staking Rewards (FLM) Distribution

After the completion of Mint Rush 2 (UTC 11:00:00, 10/05/2020), FLM will no longer be distributed to single-asset stakers. Users may stake LP Tokens from below trading pairs in the Vault to continue receiving FLM rewards. The release rate of FLM will follow the schedule detailed out in the Litepaper. Details are as follows:

From UTC 13:00:00, 10/05/2020 to UTC 13:00:00, 10/07/2020

2,857,143 FLM will be released per day as below:

· FLP-FLM-nNEO 20%

· FLP-pnWBTC-nNEO 20%

· FLP-pnWETH-nNEO 10%

· FLP-pONT-nNEO 5%

· FLP-nNEO-pnUSDT 20%

· FLP-pnWBTC-pnUSDT 25%

From UTC 13:00:00, 10/07/2020 to UTC 13:00:00, 10/14/2020

1,071,429 FLM will be released per day following the same distribution as above.

Important Notice

· A 0.3% fee will be charged for every token swap, which is awarded to liquidity providers proportional to their contribution to the liquidity pools.

· Users can customize acceptable thresholds for slippage and trade timeouts.

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