Over the last few weeks, Flare Finance has announced support for several assets such as CSC, PAC, and XDC on their platform. These partnerships and integrations have raised the expectations of the platform users.
Before its launch, Flare Finance has shown how truly interoperable it is by bringing together several projects and their respective communities.
Flare Finance is not yet live and is expected to go live a month after Flare Network goes live, expected anytime in July.
Flare Finance has now announced support for Gitcoin (GTC) before the platform goes live. Once the platform goes live, the addition of any asset will be done via voting. This is the last asset to be integrated into the platform as Y-Assets. So far, Flare Finance has announced support for FLR, XRP, XLM, LTC, DOGE, ADA, ALGO, SHIB, SANSHU, CEL, TEL, BNB, CAKE, XDC, PAC, and CSC.
GTC is the final token to be integrated on Flare Finance before the platform goes live. Gitcoin is a renowned platform that strives to create infrastructure for the open internet. It has an active community of developers with diverse skill sets. Projects can post any requirement on the platform along with the amount they are willing to pay for the task. This gives them access to 311,668 active developers who can then work on the problem.
Gitcoin also funds projects that are building open-source ecosystems. They have already funded $24.3M to several projects. It uses quadratic funding, ensuring that projects that are doing the most outstanding public good get more support. Individual users who believe in any project have an opportunity to support such projects using Gitcoin. The developers also have multiple ways of earning, helping them become a life-long part of the community. Developers can earn through bounty, hackathons, or grant funding.
The platform also provides ample opportunities for learning from peers, hackathons, fellowships, and workshops. The platform enables top developers in the world to collaborate and connect to create open-source projects. Post its integration with Flare Finance, Gitcoin users will be able to use the GTC token on the platform. It will give them access to all the six products of Flare Finance. GTC users would be able to borrow stable coins against GTC or stake GTC to earn yield, and avail other benefits by being part of the ecosystem.
Flare Finance is expected to launch with six products – FlareX, FlareFarm, FlareMine, FlareLoans, FlareWrap, and FlareMutual. All the assets on the platform will have the option to mint their assets on the other chain using FlareWrap. Communities of all these projects will also come on a single platform thereby opening newer avenues.
With the launch of Flare Finance nearing, the real potential of Flare Finance would be revealed soon.