What is Flamincome? A guide to optimizing your yields with Flamincome

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2021-03-22 19:40:04

Closer to the time of the debut, Flamingo (FLM) becomes “hotter” than ever. Let’s prepare to farm Flamingo. Specifically, with today’s article, CHK will guide you to use Flamincome – a tool that helps you own assets on Ethereum (eg ETH, WBTC, USDT, …) to participate in farming in products. Flamingo to receive FLM (in parallel that gets more yield from farming popular products on Ethereum too)

What is Flamincome?

Flamincome is a tool that helps my friend optimize profits on the similar Ethereum network YFI.

But especially with Flamincome you can get rewards on both Ethereum and NEO networks. The future is likely to be derived from many other chains. Limit risks to users.

Learn more about Flamincome here.

Load property into Flamincome

Step 1: Visit the page flamingo.finance, click on “Income“On the Flamincome site

Step 2: Click “Connect Wallet”To connect to the MetaMask wallet

Step 3: Select the wallet you want to connect to in MetaMask, and then press “Connect“

Step 4: Once connected, select the property you want to load. Taking USDT as an example, we can see different versions: USDT / fUSDT / nUSDT.

Step 5: Click “Deposit“, Enter the number of tokens you want to deposit, click”Confirm“

Step 6: Confirm USDT authorization in MetaMask.

Step 7: After granting authorization, Metamask will show the data (the amount of coin you deposit and the fee)) 1 again for you to confirm. In this section, if the Ethereum network is congested leading to high gas fees, you can click “EDIT” to set the gas higher to increase the ability to complete the transaction (Because if you do not complete, you still lose a little fee).

Done, then click “Confirm” To confirm.

Step 8: Wait for the Ethereum network to confirm, then you can see a decline in USDT and an increase in fUSDT.

Step 9: To do mass mining on Flamingo using the same set of assets, you must create a valuable synthetic asset that is tied to your original asset. To do so, first click on “Deposit” of your fUSDT.

Step 10: Enter the amount of tokens you want to load, click “Confirm”

Step 11: Confirm fUSDT authorization in MetaMask.

Step 12: After granting the rights, the system displays the data as above, check and click “ Confirm“In MetaMask.

Step 13: Wait for the Ethereum network to confirm its execution, then you can see a decrease in fUSDT and an increase in nUSDT. After completing this component, you can use nUSDT in the “Wrapper” module, which will be wrapper (wrapped) nUSDT into pnUSDT according to NEP-5 standard running on Neo blockchain, so that it can be staking in Vault. for FLM.

In addition Flamincome will continue to make a profit on your original property. You can check your earnings in the “Unclaimed” section, and receive your profits as needed. Profits confirmation guide will be updated soon.

Withdraw property in Flamincome

Step 1: Go to the Flamincome page, find the loaded properties. Using USDT as an example, Select “Withdraw” of nUSDT.

Step 2: Enter the amount of nUSDT you want to withdraw, click “Confirm”.

Step 3: Grant nUSDT permission in MetaMask, click “Confirm” (This step may not appear if this is not your first time active on the site).

Step 4: After granting authorization, click “Confirm” to confirm withdrawal.

Step 5: Wait for Ethereum to confirm execution, then you can see a decrease in nUSDT and an increase in fUSDT. Click on “Withdraw”.

Step 6: Enter the amount of fUSDT you want to withdraw, click “Confirm”.

Step 7: Confirming smart contract interaction in the pop-up leading to the MetaMask wallet

Step 8: Wait for confirmation of Ethereum, then you can see the change in USDT amount. USDT withdrawal process has been completed.

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