- Flare upgrades SparkDEX to allow cUSDX and WFLR deposits, enabling FlareDrops and FTSO rewards.
- Polyhedra’s zkBridge integration improves the safety of Flare and worth transfers throughout the chain with zk-proof know-how.
In a tweet, Flare lately unveiled a big enchancment to SparkDEX, the primary AI-powered DeFi ecosystem on Flare Community. The SparkDEX contract has been improved within the replace in order that clients who deposit cUSDX and WFLR into the pool are eligible for numerous incentives.
Whereas nonetheless incomes rFLR, customers can now earn FlareDrop, FTSO delegations, and cUSDX incentives. Particularly within the fast-growing DeFi house, this transfer is taken into account a big enchancment meant to enhance the Glow ecosystem much more so.
SparkDEX will improve its contracts at the moment on October 4 to permit customers who deposit cUSDX and WFLR into swimming pools to be eligible for FlareDrops, FTSO delegation rewards, and cUSDX rewards whereas incomes rFLR.
All SparkDEX liquidity suppliers ought to be ready emigrate their… https://t.co/LSsbHr0x5d
— Flare ☀️ (@FlareNetworks) October 4, 2024
Strengthening Flare safety with zkBridge integration
An enormous spotlight was additionally Polyhedra’s zkBridge integration into Flare. An earlier CNF report famous that by way of zk-proofs, a method that’s turning into more and more related within the blockchain scene, the zkBridge improves Flare’s safety and allows cross-chain worth transfers.
Hugo Philion, co-founder of Flare, highlighted that the zkBridge integration offers the Layer Zero interoperability protocol with an extra stage of safety, permitting for safer bridging between totally different blockchains.
Flare’s long-term plan requires this to assist it turn out to be a safe and dependable blockchain platform for customers and builders.
As well as, so will we reported Flare’s connection to Stargate Finance, which beforehand considerably elevated liquidity. This connectivity permits liquidity from greater than 25 blockchains to circulation naturally to Flare.
The community now helps important belongings together with USDC, USDT and ETH utilizing Stargate V2, creating extra alternatives inside the DeFi ecosystem. This integration ought to strengthen Flare as a middle of cross-chain liquidity and interoperability.
In the meantime, Flare’s native token (FLR) is roughly altering arms $0.01586 on the time of writing this text; it has elevated 0.40% within the final 24 hours and 7.00% throughout the previous 30 days.