BlazeSwap Would be the First and only Decentralized Exchange on Flare
BlazeSwap, the first-ever DEX on Flare’s upcoming mainnet, it is going to advance yield farming
BlazeSwap, the Flare Network’s first open-source, decentralized exchange, says it provides users with Flare’s pricing oracle delegation and network airdrop incentives in addition to liquidity provider fees. Once the blockchain breaks observation mode, BlazeSwap will be activated on Flare. In addition, BlazeSwap would be the first and only DEX on Flare and will charge liquidity provider fees, providing users with network airdrop benefits and Flare’s price oracle delegation.
Comparable to staking but based on proven reliability, FTSO delegation compensates token holders who actively delegate to the most trustworthy FTSO price providers. BlazeSwap implements this Flare-native functionality, providing a more lucrative earnings structure by combining the conventional incentives for DEX Liquidity Providers from pool trading fees with the native FTSO advantages.
Hugo Philion, Flare CEO & Co-founder said, “We are thrilled to see Blazeswap integrating Flare’s native data infrastructure to offer a new way of doing DeFi. This is exciting news, not only for BlazeSwap and Flare, but also the broader Web3 and DeFi communities. We look forward to seeing what other innovative products our growing developer base will be able to build using Flare’s native protocols.
BlazeSwap: Need of the hour
Based on the same Automated Market Maker (AMM) model as Uniswap V2, BlazeSwap has completed an audit by Omniscia. However, contributors to BlazeSwap’s liquidity pools will be eligible to receive a share of the delegation reward pool token payouts, if Flare Improvement Proposal 01, FIP.01, is approved by the community.
Also, BlazeSwap pools allow automatic delegation in a new way, to give data providers access to Flare’s native decentralized price oracle, the Flare Time Series Oracle (FTSO). FTSO represents delegation and distributes network benefits to the most reputable FTSO value sources and the token owners who actively delegate to them.
Moreover, this Flare-native capability is implemented into BlazeSwap, providing an improved structure that combines the organic FTSO benefits with the standard DEX Liquidity Provider rewards from pool trading fees. Furthermore, BlazeSwap allows FLR holders to reap the benefits of trading on the DEX, increasing network security and offering liquidity.
BlazeSwap will be launched on Flare’s mainnet as soon as the blockchain exits observation mode. Alex Dupre, BlazeSwap founder, is excited by the innovation his product brings to Flare’s ecosystem of dApps:
After months of development we’ve been very happy to see the enthusiasm from Flare’s community about the launch of the alpha version of BlazeSwap on the Coston testnet. The speed of the Flare network, its low gas fees and its goal to “connect everything” make it a perfect match with our decentralized exchange. Its full integration with Flare’s native components is what the community has been waiting for, in order to demonstrate and fully unlock the network’s potential. We’ll soon be announcing a bug bounty program to further strengthen the security of our platform. We are now eager to roll out the final version of the smart contracts on Songbird, and later on Flare, and to continue working on the user interface and third party integrations, listening to the feedback from our awesome user base.
About Flare
Flare is a new blockchain built to connect everything. It presents developers with a single, simple, coherent stack to build applications that are fully cross-chain capable. Flare’s protocols will provide
(1) scalable EVM-based smart contracts
(2) truly decentralized price feeds
(3) secure state acquisition from other blockchains via the first consensus protocol for external data
(4) insured smart contract token bridging
(5) non-smart contract token bridging
(6) secured data relay
(7) horizontal scaling through a fully interoperable multi-chain ecosystem. This will allow developers to serve multiple communities and ecosystems simultaneously through a single deployment on Flare.
About BlazeSwap
BlazeSwap is the first open-source, fully decentralized exchange on the Flare Network. Developed by the same team behind A-FTSO, it aims to become the best and cheapest place to swap and earn fees from all tokens on the Flare network. Supplying to BlazeSwap allows FLR token holders to receive full FTSO rewards from inflation and FIP.01 (should it pass), avoiding the dilemma of staking versus providing liquidity in pools.
The post BlazeSwap Would be the First and only Decentralized Exchange on Flare appeared first on Analytics Insight.
BlazeSwap, the first-ever DEX on Flare’s upcoming mainnet, it is going to advance yield farming
BlazeSwap, the Flare Network’s first open-source, decentralized exchange, says it provides users with Flare’s pricing oracle delegation and network airdrop incentives in addition to liquidity provider fees. Once the blockchain breaks observation mode, BlazeSwap will be activated on Flare. In addition, BlazeSwap would be the first and only DEX on Flare and will charge liquidity provider fees, providing users with network airdrop benefits and Flare’s price oracle delegation.
Comparable to staking but based on proven reliability, FTSO delegation compensates token holders who actively delegate to the most trustworthy FTSO price providers. BlazeSwap implements this Flare-native functionality, providing a more lucrative earnings structure by combining the conventional incentives for DEX Liquidity Providers from pool trading fees with the native FTSO advantages.
Hugo Philion, Flare CEO & Co-founder said, “We are thrilled to see Blazeswap integrating Flare’s native data infrastructure to offer a new way of doing DeFi. This is exciting news, not only for BlazeSwap and Flare, but also the broader Web3 and DeFi communities. We look forward to seeing what other innovative products our growing developer base will be able to build using Flare’s native protocols.
BlazeSwap: Need of the hour
Based on the same Automated Market Maker (AMM) model as Uniswap V2, BlazeSwap has completed an audit by Omniscia. However, contributors to BlazeSwap’s liquidity pools will be eligible to receive a share of the delegation reward pool token payouts, if Flare Improvement Proposal 01, FIP.01, is approved by the community.
Also, BlazeSwap pools allow automatic delegation in a new way, to give data providers access to Flare’s native decentralized price oracle, the Flare Time Series Oracle (FTSO). FTSO represents delegation and distributes network benefits to the most reputable FTSO value sources and the token owners who actively delegate to them.
Moreover, this Flare-native capability is implemented into BlazeSwap, providing an improved structure that combines the organic FTSO benefits with the standard DEX Liquidity Provider rewards from pool trading fees. Furthermore, BlazeSwap allows FLR holders to reap the benefits of trading on the DEX, increasing network security and offering liquidity.
BlazeSwap will be launched on Flare’s mainnet as soon as the blockchain exits observation mode. Alex Dupre, BlazeSwap founder, is excited by the innovation his product brings to Flare’s ecosystem of dApps:
After months of development we’ve been very happy to see the enthusiasm from Flare’s community about the launch of the alpha version of BlazeSwap on the Coston testnet. The speed of the Flare network, its low gas fees and its goal to “connect everything” make it a perfect match with our decentralized exchange. Its full integration with Flare’s native components is what the community has been waiting for, in order to demonstrate and fully unlock the network’s potential. We’ll soon be announcing a bug bounty program to further strengthen the security of our platform. We are now eager to roll out the final version of the smart contracts on Songbird, and later on Flare, and to continue working on the user interface and third party integrations, listening to the feedback from our awesome user base.
About Flare
Flare is a new blockchain built to connect everything. It presents developers with a single, simple, coherent stack to build applications that are fully cross-chain capable. Flare’s protocols will provide
(1) scalable EVM-based smart contracts
(2) truly decentralized price feeds
(3) secure state acquisition from other blockchains via the first consensus protocol for external data
(4) insured smart contract token bridging
(5) non-smart contract token bridging
(6) secured data relay
(7) horizontal scaling through a fully interoperable multi-chain ecosystem. This will allow developers to serve multiple communities and ecosystems simultaneously through a single deployment on Flare.
About BlazeSwap
BlazeSwap is the first open-source, fully decentralized exchange on the Flare Network. Developed by the same team behind A-FTSO, it aims to become the best and cheapest place to swap and earn fees from all tokens on the Flare network. Supplying to BlazeSwap allows FLR token holders to receive full FTSO rewards from inflation and FIP.01 (should it pass), avoiding the dilemma of staking versus providing liquidity in pools.
The post BlazeSwap Would be the First and only Decentralized Exchange on Flare appeared first on Analytics Insight.
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