TVL > 100K
What is Solarflare (FLARE)?
Solarflare presents a decentralized exchange platform (DEX) that aims to supply liquidity and facilitate peer-to-peer (P2P) transactions across the Moonbeam ecosystem. Moonbeam is an Ethereum-compatible smart-contract parachain on Polkadot. The Moonbeam ecosystem makes it easy to natively design interoperable decentralized applications (dapps). And this compatibility with Ethereum enables developers to implement existing solidity, smart contracts, and dapps on Moonbeam with minimal technical work. Moonbeam’s interoperability with Ethereum enables Solarflare to provide users with easy access to the entire Ethereum blockchain in an intuitive and convenient way. The purpose of Solarflare (FLARE) is to create a simple, comprehensive, and robust DEX to empower the Moonbeam-Ethereum community. Launched on January 13th, 2022, Solarflare is a platform where people can trade their tokens through P2P transactions as well as engage in yield farming and staking for passive crypto incomes. In this sense, Solarflare (FLARE) acts as a DeFi (decentralized finance) hub for the Moonbeam network. FLARE acts as a governance token with a burning mechanism. The token distribution follows a fixed supply model and a constant emission
Who are the founders of Solarflare (FLARE)?
Based on the information on the project’s official website, the founding team behind Solarflare (FLARE) consists of the following members: FireKid is Solarflare (FLARE) founder that is also responsible for operations. Solar Ape is stated to be the project’s developer and co-founder. Two Tooths is a co-founder. Carrion is a member of the development department of the project.
What makes Solarflare (FLARE) unique?
Solarflare (FLARE) allows users to engage in crypto trading activities directly from their wallets. Rather than trading through a third-party interface, tokens never leave the user’s custody, and the assets always remain owned by the user themselves. The platform also establishes reduced trading fees compared to other DEXs. Every swap is subject to a fixed 0.25% fee. 0.20% of that amount goes to liquidity providers, while the remaining 0.05% is given to the project’s team. Half of the team allocations from transaction revenues are required to perform buybacks and burns. The platform allows its participants to earn $FLARE with yield farming and staking $GLMR (Moonbeam’s native coin). Users are welcome to stake their tokens in Solarflare’s single asset pools, or paired in its liquidity pools to earn more $FLARE. Those users who supply liquidity to the Liquidity Pools Earn Trading get a portion of the protocol's trading commissions. Solarflare (FLARE) is a part of the Solarbeam Foundation that also contains a decentralized exchange Solarbeam (SOLAR). The main difference between these two exchanges is that Solarflare (FLARE) features adjusted tokenomics and a slightly different launch process, for example, Solarflare (FLARE) released 10 times more initial supply compared to Solarbeam (SOLAR).
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