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FLMPERP

FLM (Flamingo) Token Analysis 28/03/2022Fundamental Analysis: Flamingo is a decentralized finance (DeFi) platform based on the Neo blockchain and the Poly Network interoperability protocol. It combines several DeFi applications into a single ecosystem: a cross-blockchain asset gateway (wrapper), an on-blockchain liquidity pool (swap), a blockchain asset vault, a perpetual contract trading platform (perp) and a decentralized governance organization (DAO). Different components of the Flamingo network are planned to be launched in several phases: Token wrapper for Bitcoin, Ethereum, USDT, Neo, Ontology and others: September 23, 2020 Swap and LP token staking: September 30, 2020 Phase 3 vault launch and stable coin issuance: October 28, 2020 Perp launch: November 25, 2020 DAO launch: December 23, 2020 Flamingo positions itself as a singular platform that combines multiple decentralized finance tools for Neo into a common ecosystem that will be governed by its users via a decentralized autonomous organization. Decentralized finance is a nascent, fast-growing trend in the cryptocurrency industry that encompasses various financial solutions that often operate on top of cryptocurrency blockchains. Working as a sort of second-layer industry, DeFi platforms are conceptually aligned with the idea of the cryptocurrency industry as a whole: eliminating third parties and singular points of failure from monetary and financial systems. Having emerged in early 2019, by mid-2020 the DeFi industry already boasted over $4 billion in locked collateral assets. Some of the main use cases in DeFi are cryptocurrency lending, yield farming and decentralized exchanges. However, for most cryptocurrencies and their respective DeFi environments, each of these solutions is usually provided by a single separate platform. Flamingo’s unique advantage comes from the fact that it’s aiming to combine all the key financial instruments for the Neo cryptocurrency token (token wrapping, liquidity pooling, asset vault and contract trading) and make them available via a single platform that will be governed by its own users in a decentralized way. FLM is based on NEP-5, Neo’s token compatibility standard, so it is secured by Neo’s blockchain. In turn, Neo is secured by two hash functions: SHA-256 (the same one Bitcoin is secured by) and RIPEMD-160. The founder of Flamingo is Da Hongfei, a Chinese entrepreneur also known for co-founding one of the main competitors of Ethereum: the blockchain network Neo, which Flamingo is based on. Hongfei has also co-founded OnChain, a private blockchain services company. Da Hongfei has a degree in English and technology from the South China University of Technology and has worked as the CEO of the IntPass Consulting firm prior to teaching himself how to code and entering the blockchain scene in 2013-2014. FLM tokens are planned to be issued in several batches and distributed among the ecosystem’s participants based on their actual participation in the network. Flamingo’s team emphasizes the fact that no FLM tokens will be sold, minted or given to the platform’s team prior to its public launch. During the first week after the launch of the Flamingo Vault — the so-called “mint rush” period — 50 million FLM are to be distributed among staking pools. After the launch of Flamingo Swap (week 2-5), 40 million more FLM will be distributed to liquidity providers. During week 6-9, an additional 30 million FLM will be distributed among liquidity providers and FUSD minters. Finally, during week 10-13, another 30 million FLM are set to be distributed between liquidity providers, FUSD minters and Flamingo Perp traders. There is no upper limit on the total FLM supply: after the initial period of minting and the launch of the governing decentralized autonomous organization, the issuance of new FLM tokens and their distribution will be subject to the consensus of the ecosystem’s users. The current CoinMarketCap ranking is #464, with a live market cap of $75,280,646 USD. It has a circulating supply of 312,284,062 FLM coins and the max. supply is not available. Technical Analysis: The Token has fallen 85% Lower than its All Time High, it is at a very Discounted Price and Currently at the accumulation zone, soon the Smart Money effect shall Appear on the Price Value. There exist the Regular Bullish Divergence of Price Value from MACD , which is the very Significant sign of Bearish Trend Reversal eventually Start of the new Bullish Trends. As the price value Start its Bullish trend From these kind of Discounted Zones such as Fib 78.6% or lower such as 85%, we can Rationally expect the ATH to be easily Achievable and ultimately developing the new cycle thus new ATH. There are Total of 4 Targets defined by the Average Confluences of the Fibonacci Expansion and Fibonacci Trend Base Extension. these confluences Points can even be counted as the Major Pivot Points. The 3 TP gets its confirmation as the Bullish trend Triggers the 2 TP followed by some Price correction and Reaccumulation. on its Up Formation rally. 4 TP has Confluences with its Initial lunching Price and can be counted a the very Possible Target though.
Long
by BitonGroup