Asset Types Guide

In this section we describe the asset types available to wrap, trade, and stake on Flamingo.

bNEO

bNEO (NeoBurger) is the wrapped NEP-17 version of the NEO token. NEO is an asset on the Neo N3 blockchain, with a minimum divisible unit of 1. On Flamingo, assets must be divisible for calculation precision, and must be smart contract assets (NEP-17) to interact with smart contracts.

Users can convert between NEO and bNEO in the Flamingo Wrapper. The amount of input and output during wrapping and unwrapping must be whole integers since the minimum unit of NEO is 1.

Assets on Flamingo

f-assets

The Flamingo platform is evolving to support multiple cross-chain assets deriving from the same asset collateral. An NEP-17 based f-asset is thus introduced, and cross-chain assets can be wrapped to f-assets at a 1:1 ratio.

The f-asset cross-chain experience is fully packaged in the Wrap & Unwrap asset action on Flamingo so that users can directly wrap and unwrap their assets to and from other blockchains.

p-assets

p tokens are native Poly Network contracts. pONT is the NEP-17 version of the ONTd token after cross-chain. ONT is a native smart contract asset with a minimum divisible unit of 1. To facilitate calculation precision and smart contract interaction, users can convert ONT to OEP-4 based smart contract asset ONTd via Wing Finance. The Wrapper module on Flamingo can facilitate bi-directional cross-chain operation between ONTd on the Ontology Network and pONT on the Neo blockchain.

pWING is the NEP-17 version of the WING token after coss-chain. WING is the governance token of Wing Finance.

The p-asset cross-chain experience is fully packaged in the Wrap & Unwrap asset action on Flamingo so that users can directly wrap and unwrap their assets to and from other blockchains.

Assets on Flamincome

To maximize the fund utilization efficiency of our users, the team has designed Flamincome - a module on the Ethereum network that integrates yield aggregation with cross-chain value pegging. Flamincome users may either gain yield on Ethereum, or wrap their ERC-20 assets and use them on other blockchains, such as Neo.

The updated Flamincome has 2 asset types: x-asset and y-asset. Users can deposit original ERC-20 assets to mint either asset type.

Flamincome currently supports 3 types of original assets: USDT, WBTC , WETH.

x-assets

x-assets for asset cross-chain

x-asset is an intermediate asset type for cross-chain functionalities, x-assets will not yield interest.

Users intending to use ERC-20 assets on Flamingo can perform bi-directional conversions between original ERC-20 assets and f-assets (see below graph for explanation) in Flamingo Wrapper. x-assets and px-assets will be generated as intermediate assets on Flamincome and Flamingo respectively, but are not visible to regular users.

y-assets

y-assets for yield generation

Flamincome will tap on other DeFi protocols within the Ethereum DeFi ecosystem to optimize yield for the user under the premise of ensuring asset safety.

Users can deposit ERC-20 assets to y-asset. y-asset holders will enjoy the interest generated by the entire asset pool (underlining assets for both y-asset and x-asset).

The actual unit value of the y-asset is higher than that of the original asset as it comprises both the original asset and the yield, and its value will continue to rise.

Fees

Withdrawal Fee

There is a withdrawal fee implemented for assets (both the principal and the yield) in order to ensure asset stability and prevent the impact of frequent fund transfers from eroding other users’ assets.

a. y-assets: 0.5% b. x-assets: 0 for first 2 weeks after migration, then <=0.3%

Performance Fee

There is a 5% performance fee out of the yields of y-assets to cover GAS fees on the Ethereum network.

Legacy assets

Before the asset flow redesign, Flamincome users could deposit original ERC-20 assets to generate f-assets (ERC-20) to earn interest on Flamincome, and mint n-assets simultaneously by using f-assets (ERC-20) as a CDP and convert n-assets to NEP-5 based pn-assets in Wrapper, which can be used on Flamingo.

After the implementation of the asset flow redesign, f-assets(ERC-20), n-assets(ERC-20) and pn-assets(NEP-5) are now obsolete. Holders of these assets can migrate these assets to corresponding asset types by following instructions in the migration plan.