Beta Testing - Flare FinanceThe Flare Finance Beta Test is a two week program where about 200 participants are trying to generate the greatest return on their holdings. I’m a person with no experience in DeFi, here’s what I’m finding. No guarantees that I’m getting this right – DYOR
Beta. Three Options
- SWAP – enter one token and convert it to another token
- POOL – add tokens to each side of a pool and create a “liquidity pool – LP” token.
+ Withdraw and Deposit
+ Liquidity Pools
FlareWRap - DepositStart out by onboarding some value to Flare Finance, for instance the USDT token pictured below. No need to use an exchange to add tokens from different chains.
Flare WRAP - WithdrawalAfter you’ve been using Flare Finance awhile, maybe you want to WITHDRAW some value and put it on your wallet. You WITHDRAW it with the Flare Finance Stable Coin – XUSD . (Maybe more choices later??? This is what shows for now.)
Flare x - SwapOnce you have value on Flare Finance you may want to distribute that value between the various tokens on the network. As you can see to the right, Spark (FLR) and FXRP from the Flare Network can be used on Flare Finance. Also, the native tokens to Flare Finance can be used, YFLR, YFIN, and XUSD.
And finally, the FARM. Once you’ve swapped for tokens or created liquidity pairs, you can stake them to earn in two ways, both an APY (Annual Percentage Yield) and the Flare Finance Reward Token, YFIN. The FARM has two types of pools to stake into. The first type is a single asset pool, like FXRP. You add your FXRP to the pool so others can borrow it. You earn APY which is given as a YFIN reward. The second type of pool is a two-sided Liquidity Pool that has its own LP token representing the two assets that make up the pool. You use the SWAP page, and create your pool asset there, then you come here to FARM and stake it. In the XUSD/YFIN LP Pool below you can see pool values, plus the amount you’ve staked, and your YFIN rewards. Your control buttons below each pool allow you to STAKE and UNSTAKE value as well as claim your YFIN rewards, which then adjust your account balances for your tokens.
How It Works
Flare finance beta presentation pdf
What I’m Doing Next
Learn about De-Fi
Learn about Traditional Finance
- It was a gift to become aware of XRP so very very early.
- It’s an incoming gift to be receving SPARK tokens soon for the Flare Network.
- Another gift coming to be receving YFLR for Flare Finance.
- THANKFUL? Yes