Flare Finance: the first institutional grade decentralized finance platform announced that XinFin Network’s native XDC token will be integrated into all its products.
Flare Finance will list XDC and all of its F-assets, which currently include FDOGE, FXRP, FADA, FALGO, FLTC, FBCH and FXLM. Through the FlareWrap integration, XDC will be connected to the Flare Network, and the two-way bridge will allow Flare Network tokens to be minted on the XinFin network. This will make the two networks truly interoperable.
In addition, XDC will also be included in FlareMutual, allowing individuals to pay for insurance through XDC and provide insurance in the form of XDC.
By participating in FlareFarm, all XDC holders can stake and earn yield in YFIN. Projects developed at XDC will have the opportunity to use the Flare Finance launchpad for future token and project launches.
With such impressive development, it is easy to miss that Flare Finance has not yet launched. Even before the launch, Flare Finance was considered one of the best candidates for the best DeFi platform. Flare Finance is being developed on the Flare Network and is an independent entity.
Flare Network is a distributed network that runs the Avalanche consensus protocol that adapts to the Federal Byzantine Agreement and leveraging the Ethereum virtual machine. The Network recently raised $11.3 million, led by Vinny Lingham, Litecoin founder Charlie Lee, Do Kwan and many other investment companies and individuals.
The uniqueness of Flare Network is that it derives its network structure from its underlying integrated networks.Flare Finance will become the first DeFi platform on Flare Networks, ensuring that all unlocked value can be used and holders can get rewards.
On the other hand, XinFin Network focuses on enterprise-ready hybrid blockchains for business and finance. The main network has been running for several years.
The XinFin network is considered a worthwhile option against Ethereum, because Ethereum has issues related to higher gas rates. XinFin Network has a capacity of 2000 TPS, can complete transactions in less than 2 seconds, and the cost is negligible.
Great strides has been made by Flare Finance to ensure interoperability and a cross-chain ecosystem. These integrations not only integrate the two chains, but also unite the community.
Altcoins such as FLR, XLM, LTC, XRP, ALGO, ADA, SHIB, BNB, CAKE, CEL, TEL, SANSHU and DOGE are all ready to become part of the Flare Finance ecosystem.
The potential value that Flare Finance will be unlocked once its launch seems huge. With various DeFi platforms struggling to become the best and most popular platform, Flare Finance seems to be in a good position to make things competitive.