Neo (NEO) price is up 13% this week, here’s why

Neo (NEO) price is trading more than 13% higher this week as crypto investors anticipate the launching of the new DeFi project called “Flamingo Finance (FLM)”. This new project is a part of the NGD’s (Neo Global Development) incubator initiative that seeks to utilize the full potential of decentralized finance by providing interoperability between blockchain networks and their related assets.

“Flamingo is an interoperable, full-stack decentralized finance protocol built on the Neo blockchain,” the whitepaper states. Neo blockchain is working on a new decentralized finance project Flamingo Finance, which is scheduled for launch by September 23.

Timeline of Neo