CandleFocus Flamingo prepares for FLOCKS launch with FLUND migration adjustments
2024-11-04
Author: Content Editor
Flamingo Finance has revealed new details about the release of their upcoming product, FLOCKS. FLOCKS is an improvement on the FLUND concept and aims to incentivize long-term holding of assets. Holders of FLOCKS will receive dividends from Flamingo's fees and will have voting rights. Existing FLUND holders will have the opportunity to migrate to FLOCKS before the start of Epoch 1 and will receive a 1:1 ratio of FLM to FLOCKS. FLUND users are advised to wait until the migration window opens before migrating to maximize earnings. Users entering FLOCKS from other tokens will have to wait for Epoch 1 to start. Flamingo recently completed its Wave 3 modifications and has decided to pay out assets from several token sources as part of the Epoch 1 dividends. The exit fee for FLUND holders that choose not to migrate has been removed. The launch of FLOCKS coincides with the Asset Support Initiative, which aims to compensate users affected by the Poly Network bridge exploit. The compensation will be received in FLOCKS over two years. The FLOCKS airdrops from the initiative will begin in Epoch 2.
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