Over the past few weeks, our articles have mostly answered frequently asked questions on the internet. We found this to be an effective way to onboard new crypto users and also educate senior citizens on projects and concepts they might not have understood.
So, for today, our focus will be on FAQs about Solarflare. The searches show that Solarflare has gained momentum on the internet in recent weeks. So let’s take a look at this project.
What Is Solarflare?
Solarflare is a decentralized exchange, enabling peer-to-peer transactions on the Moonbeam network and offering users access to liquidity. The platform aims to provide an easy-to-use, comprehensive one-stop platform for crypto users.
The Solarflare DEX gives users access to yield farming opportunities and a vested token feature that offers a wide range of benefits, including single staking rewards, a share of the fees generated from the DEX, and governance power. This way, Solarflare is able to offer a one-stop DeFi hub to the Moonbeam network.
The platform enables users to trade directly from their wallets rather than trading through a third party. So, users never lose custody of their tokens, meaning they 100% own their assets.
According to the project’s whitepaper, the decentralized exchange provides access to high liquidity, which offers a broad range of support to various parts of the crypto community and token holders.
Solarflare launched in January 2022. And according to data from DefiLlama, Solarflare has a TVL of $215,944. Security audits were completed by Certik and Haechi and are currently in progress with Halborn.
Does Solarflare Have an App?
Solarflare has a desktop app where users can swap, farm, and stake tokens.
What Is the Solarflare Token?
FLARE is the native token of the Solarflare ecosystem. It is also a governance token. The FLARE token has a max supply of 400,000,000. Users can earn more FLARE by staking in the Solarflare pool.
It is important to note that this token is identified as an “untracked listing” on Coinmarketcap.
Which Is the Solarflare Wallet?
Solarflare is compatible with a couple of wallets, including:
Based on its roadmap, the project intends to debut an NFT launchpad which would provide a platform for NFT enthusiasts to buy NFTs as well as for creators to build their craft. Additionally, the project has outlined plans to announce more strategic partnerships in the coming months.
The platform also outlined plans to be a fully community-driven project. Solarflare will implement a governance system which would see holders of the FLARE token play a huge role in making key decisions.
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