Binance recently spoke about how the Flamingo Finance $FLM Token Farming Will Begin Shortly, With a New #Binance Launchpool Format.
In response, Da Hongfei Tweeted: “Fair launches are usually not as fair/inclusive as it seems to be on paper. Even people of average level of cyrpto literacy are handicapped in the be-first-included-in-the-block game. Launchpool is a product came in time to serve the larger audience.”
In the Farming period for Flamingo (FLM) tokens, users were allowed to stake BNB or BUSD tokens in to the FLM pools for the preparation for the beginning of the start of farming if they wish. It was also clarified that the users will not receive rewards until 27/09/2020 AM UTC.
The Launch Pool Format was published clearly. Beginning with FLM in the future all the Launchpool projects will be moved from Binance Savings in to the Binance Launchpad Home Page, thus permitting users to freely allocate their BNB and BUSD and other supported tokens in to separated pools to earn their rewards.
Da Hongfei previously commented stating, there are about 1 billion dollars trusted the team and staked with Flamincome/Flamingo, despite yesterday’s glitch. Next challenge for the 48-hr-no-sleep team is how to make sure everyone claims orderly on 28th. Further stated, It seems, look like, probably, every Satoshi/Gwei of the $~500M will be staked soon.
Sydney Ifergan the crypto expert tweeted: “Regarding FLM pools and staking many of whom from NEO Smart Economy who staked in the Liquidity Pool are waiting to Claim FLM. While some are not sure about what the fuss around FLM is all about.”
NEO Smart Economy (NEO) and Server Crash
While all the staking was happening, Neoline server just crashed due to the huge traffic. Da Honfei reassured that the assets were safe and staked in the smart contract. He also assured that Layer 1 was working as normal. He requested all to stay patient and stated they are working together to solve these tech problems right now.
In response, someone who got very concerned stated, Thank you Da – it would be wise, harmonious and commendable of you to snapshot people who had wrapped assets in preparation for launch, and distribute them FLM according to their % of holdings, as compared to those who could participate from Binance and OKex.
Lot of excitement and literally rush to farm FLM was seen. The traffic and server crash worried many and some of them felt the capacity should have been tested before it all. They felt not doing the stress test for the reason behind the chaos during the staking.
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