Deep Dive
1. SDK Release (Week 39, 2024)
Overview: Launched the Flamingo SDK to simplify interactions with platform smart contracts.
The SDK standardizes frontend calls to Flamingo's DeFi modules (swap, lend, perps), reducing development friction for third-party integrations. It uses TypeScript for type safety and will eventually be open-sourced.
What this means: This is bullish for FLM because it lowers barriers for developers to build on Flamingo, potentially increasing ecosystem activity. (Source)
2. Data Service Overhaul (Week 39, 2024)
Overview: Revamped data infrastructure cut API calls by 50% and load times by 70%.
The update introduced customizable RPC/API endpoints and optimized query batching. Users can now switch between node providers directly in the interface.
What this means: This is neutral for FLM as it primarily enhances existing user experience rather than introducing new features, though improved reliability could help retain users.
3. Lend Protocol Upgrade (Week 39, 2024)
Overview: Added FLM as collateral (50% LTV) while sunsetting legacy asset support.
The update phased out vulnerable fWBTC collateral pools linked to the 2024 Poly Network exploit, replacing them with fully-backed WBTC. Interest rates for bNEO loans dropped to 3%.
What this means: This is mixed for FLM – while adding native token utility, it reduces borrowing flexibility for legacy asset holders during the transition.
Conclusion
Flamingo's updates emphasize technical debt reduction and developer enablement over flashy features. While these changes might not immediately boost FLM's price (-21.93% weekly), they lay groundwork for sustainable growth. Will improved infrastructure attract enough new projects to offset current bearish momentum?