output: Flamingo Finance has launched FLOCKS, a multi-asset, dividend-bearing token designed to succeed FLUND on Neo N3. The FLUND to FLOCKS migration period is live and will continue through Monday, March 31.
Flamingo Finance, the comprehensive decentralized finance (DeFi) platform on Neo N3, has launched FLOCKS, a multi-asset, dividend-bearing token designed to succeed FLUND. The FLUND to FLOCKS migration period is now live and will continue through Monday, March 31.
As part of its broader effort to expand and improve its ecosystem, Flamingo is introducing FLOCKS, a new token designed for long-term participation in the platform and the generation of yield. FLOCKS represents the next evolution of Flamingo’s single-sided staking feature, first introduced in 2022 with FLUND.
FLUND allowed users to passively earn portions of Flamingo’s daily FLM minting rewards and accrued platform fees by simply holding FLUND in their wallets. FLOCKS expands on this model by distributing a diversified set of assets—FLM, bNEO, FUSD, GAS, fWETH, fWBTC, fUSDT, and fBNB—sourced from platform activity, including trading fees, loan interest, and minting rewards.
The current migration process enables existing FLUND holders to exchange their holdings for FLOCKS at a 1:1 FLM-to-FLOCKS ratio. No exit fee will be applied during this first migration phase, which typically carries a 2% cost for FLUND exits. This early conversion period is exclusively available to current FLUND holders and is aimed at rewarding long-term participants with uninterrupted yield generation.
A deflationary mechanic has been integrated into the token economic model: for every FLOCKS token minted, one FLM token is burnt. This mechanism is intended to counter FLM’s inflationary schedule and potentially initiate a flywheel effect; reducing supply, increasing FLM value, attracting liquidity, boosting platform volume, and generating more fees for FLOCKS holders. This cycle would lead to the continued burning of FLM in exchange for FLOCKS, with the ultimate vision of fully transitioning the supply.
Each epoch spans approximately one week and concludes with the distribution of weekly collected rewards to FLOCKS holders. The first epoch will include accumulated platform fees from the launch of OrderBook+, the six-day migration period, and the first week of standard FLOCKS operation.
Users can choose to receive their rewards either in a single-asset format—defaulting to FLM—or in a diversified basket of tokens by selecting the Diversified Yield option on the FLOCKS token page.
