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Flare Finance will support XDC across all products

3y ago
bullish:

13

bearish:

2

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Key Highlights: 

  • Flare Finance will support XDC across all six products.
  • Flare Finance and XinFin Network will have a bi-directional bridge.
  • Flare Finance moves a step closer to truly becoming interoperable.

In a fast-paced development just a few days before its Beta launch, Flare Finance has announced a very important partnership with XinFin Network. Flare Finance will be supporting XinFin Network’s XDC across all its products. This is expected to have a huge impact on the DeFi space as Flare Finance moves a step closer to becoming the top DeFi platform. Interoperability will be the key and Flare Finance seems to be working towards it. 

Flare Finance and XinFin Network will have a bidirectional bridge that will enable XinFin Network’s XDC to be wrapped on the Flare Network. While on the other hand, all assets on Flare Network could be minted on the XinFin Network. Such interoperability not only opens up newer avenues for the platforms but also makes it extremely easier for the users to leverage their assets for maximum earning. 

XinFin Network is a hybrid blockchain aimed at global trade and finance. It is a Delegated Proof of Stake Consensus network (XDPoS) that enables Hybrid Relay Bridges, Instant Block Finality and Interoperability with ISO20022 messaging standards. It aims at offering simpler liquidity management options to financial institutions. Since two years of its mainnet, XinFin Network has achieved a block time of 2 seconds while remaining energy efficient. 

It is vital to understand that Flare Finance and Flare Network are two separate entities. Flare Finance is expected to go live a month after Flare Network goes live which is expected in a few weeks, if not earlier. 

Flare Finance has already announced support for FLR,  LTC, XRP, XLM, DOGE, ADA, ALGO, SHIB, TEL, SANSHU, BNB, CEL, CAKE, and the latest addition being XDC. Flare Finance is rapidly progressing towards becoming the best DeFi Network even before its launch with such partnerships as well as announcements. Flare Finance has not only integrated different blockchain and made them interoperable, but it has also united communities. 

With interoperability truly being considered the future of DeFi, will Flare Finance become the top DeFi platform out there? Only time will tell, but such partnerships could very well be pointing in that direction. 
 

3y ago
bullish:

13

bearish:

2

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