Flamingo Finance Delays Mint Rush Over Technical Issues
Main page News, Fintech, Tech, Blockchain

The launch of Flamingo Finance (FLM), an interoperable full-stack decentralized finance (DeFi) protocol on Neo, has been delayed until September 26.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

According to an official announcement, the delay has been caused by "technical issues related to the Neoline wallet."

The developers say the following steps will be taken:

  • The current Mint Rush is paused. A snapshot was taken at 09/25/2020 14:11:33pm (UTC) at block height #6212123.
  • Mint Rush will be relaunched as soon as possible, the Flamingo team is working together with wallet service providers to formulate a robust plan.
  • A fair resolution is currently being drafted.

Mint Rush will not reportedly start before 26/09/2020 UTC 13:00.

"Please be assured If you have assets pending in the cross-chain process and could not see the status due to wallet errors, your assets are safe," the developers wrote on Twitter.

The team will be closing the deposit function of Vault, but the withdrawal function will remain open.

"We have received an overwhelming amount of network traffic following the launch of Vault. We sincerely apologize for the inconvenience we brought to all the Defi participants," NeoLine developers said.

Earlier iHodl reported that Binance Launchpool, a new product where Binance users can acquire new token rewards in return for staking BNB, BUSD and other tokens, listed Flamigo Finance on its platform.

Binance Launchpool's users will be able to stake BNB and BUSD to earn FLM tokens.

FLM is the governance token of Flamingo and will be 100% distributed to the community based on participation.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error