THELOGICALINDIAN - Flamingo will facilitate bifold staking rewards beyond two notable blockchains
NEO-Incubated DeFi activity Flamingo Finance has announced a new feature, alleged Flamincome, that would acquiesce crypto investors to acquire absorption by crop agriculture on NEO and Ethereum simultaneously.
Cross-Chain Yield Farming on Ethereum and NEO
Flamincome will assignment abundant like added crop agriculture platforms and aggregators in its aboriginal stages area users will be able to advance their tokens and acquire income. The aggregation suggests yields will be agnate to those on yEarn Finance and added boilerplate crop aggregators.
However, Flamingo differentiates itself in one big way—Flamincome will acquiesce users to accompanying acquire acquirement on assorted blockchains. By contrast, Ethereum-based crop agriculture platforms are bound to an “inward growing ecosystem,” the aggregation claims.
In practice, this agency that users will be able to pale Ethereum’s ERC-20 tokens as “original assets,” accept NEO-based nTokens as “pegged assets,” and acquire acquirement on both.
Flamingo Prepares To Launch
Flamincome is appointed to barrage Sept. 25. Even so, the app is already accepting attention. NEO architect Da Hongfei has accustomed the app, advertence that Flaming has an “unprecedented design” and a “brilliant architecture for crosschain DeFi kickoff.” He additionally believes that Flamingo will account NEO itself. By acknowledging assets in this way, Flamingo will “elevate NEO’s amount as the agenda assets protocol.”
NEO has continued aimed to attempt with Ethereum in the DeFi space, but its efforts accept not been broadly recognized. Its top DeFi apps are Nash and Switcheo, two DEXes that do not accommodate about as abounding acquirement opportunities as Ethereum’s multitude of choices. Regardless of which blockchain has added merits, crop agriculture charcoal a high-risk investment. Investors should consider their options anxiously afore they baddest a belvedere to advance on.
