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Flare Finance, Pioneering XRPL Fork DeFi, Receives New Website and Explorer

Flare Finance and FlareScan launch an airdrop to celebrate new website release

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Cover image via stock.adobe.com

Flare Finance, a pioneering decentralized financial ecosystem built on Flare, announces a new website and explorer. The first DeFi that leverages XRP's potential with smart contracts instruments is taking shape.

Six products to start with

Flare Finance, a multi-purpose platform that promotes itself as the first-ever DeFi on Flare, has released a new website with an updated list of products. It includes lending/borrowing instruments, a "yield farming" module, stablecoins and more.

Flare Finance has a new web-site
Image via Twitter

With it first release, Flare Finance offers FlareX, a decentralized exchange that leverages Decentralized On-Demand Liquidity channels. The Flare Farm distribution model introduces token rewards for staking different assets with Flare Finance.

FlareWrap allows users to mint USD-pegged stablecoins on Flare. FlareLoans utilizes Decentralized On-Demand Liquidity (DODL) money to issue crypto-backed loans with different assets collateralized.

FlareMutual delivers peer-to-peer insurance solutions to allow risk sharing between accounts on Flare. Finally, FlareMine will act as a decentralized "yield mining" platform that empowers Bitcoin (BTC) and Ethereum (ETH) miners with the opportunity to receive mining rewards in FLR.

Flare explorer and XRP airdrop

Also, the first explorer for Flare Network has commenced operations. Since the mainnet of Flare has not been launched yet, now it indexes and displays the transactions of its "development network," Coston.

Flare Scan goes live
Image by Flare Scan

To celebrate the launch of both products, developers announced an airdrop for Twitter followers. Flare enthusiasts are invited to follow Flare Finance and Flare Scan in Twitter and retweet their messages with three friends mentioned. Five lucky followers will be awarded 100 XRP each.

As covered by CryptoComes, the first-ever Flare-based delegation service, ScandiNodes, went live earlier this week.

👉 MUST READ XRP Holders Invited to Delegate Their Spark Tokens "From Day One"related article image

With ScandiNodes, Spark tokenholders have an opportunity to stake their assets immediately after their much-anticipated airdrop.

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Vladislav Sopov

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)