Flamingo Finance has shared new info concerning the upcoming launch of FLOCKS, together with FLUND migration particulars and exit price elimination.
FLOCKS is an evolution of the FLUND idea as a single-sided staking choice. FLOCKS seeks to enhance on FLUND by incentivizing long-term holding over short-term buying and selling. Holders will obtain a share of charges derived by Flamingo within the type of dividends, and can acquire vote weight after the workforce integrates governance capabilities.
FLOCKS migration
Present FLUND holders are the one customers that may be capable of enter FLOCKS earlier than the beginning of Epoch 1. This chance can be accessible for roughly one week and ensures that buyers will obtain a 1:1 ratio of FLM (from FLUND) to FLOCKS. Migrating after the epoch has begun will trigger an more and more diminished conversion fee as dividends earned by the pool are accounted for within the swap.
For FLUND customers looking for to maximise earnings earlier than migration, Flamingo recommends remaining in FLUND till the migration week opens, then migrate earlier than Epoch 1 begins to maximise dividends.
Customers coming into FLOCKS from different tokens might want to look forward to Epoch 1 to begin earlier than they will make a purchase order. As with FLUND migrations that happen after the migration window, the value of FLOCKS purchases can even take note of the share of dividends gained within the epoch at buy time.
FLUND distribution and exit price
Flamingo just lately accomplished its Wave 3 modifications, the third spherical of 4 main deliberate changes to its liquidity swimming pools. Because of adjustments in token distributions, FLUND now has earnings from a number of token sources that aren’t transformed to FLM. Reasonably than updating the contract to repair this concern, the Flamingo workforce has determined to pay out these property as a part of the Epoch 1 dividends.
For FLUND holders that select to not migrate, the exit price has been eliminated. FLUND can now be offered on Flamingo with out an additional price, nevertheless the workforce has famous that FLUND purchases can be halted, so transactions ought to be thought of irreversible.
Asset Help Initiative
The launch of FLOCKS corresponds with the beginning of the Asset Help Initiative, which seeks to partially compensate f- and p-asset holders affected by the Poly Community bridge exploit. Affected customers will obtain 50% of their losses in FLOCKS over two years after migrating to the up to date property through the Motion Middle.
The FLOCKS airdrops from the initiative will start throughout Epoch 2. An actual time for the beginning of distributions can be introduced nearer to the time.
The unique announcement could also be learn on the hyperlink beneath:
https://medium.com/flamingo-finance/flamingo-flund-flocks-update-531c4af219d9
