- Flare upgrades SparkDEX to allow cUSDX and WFLR deposits, enabling FlareDrops and FTSO rewards.
- Polyhedra’s zkBridge integration enhances Flare’s security and cross-chain value transfers with zk-proof technology.
In a tweet, Flare recently revealed a significant improvement to SparkDEX, the first AI-driven DeFi ecosystem housed on Flare Network. The SparkDEX contract has been improved in the update to let customers who deposit cUSDX and WFLR into the pool qualify for several incentives.
While still earning rFLR, users can now earn FlareDrop, FTSO delegations, and cUSDX incentives. Especially in the fast-expanding DeFi area, this action is considered a significant improvement meant to boost the Flare ecosystem even more.
SparkDEX will upgrade its contracts today on October 4th to enable users depositing cUSDX and WFLR in pools to be eligible for FlareDrops, FTSO delegation rewards, and cUSDX rewards while earning rFLR.
All SparkDEX liquidity providers should be prepared to migrate their… https://t.co/LSsbHr0x5d
— Flare ☀️ (@FlareNetworks) October 4, 2024
Strengthening Flare Security with zkBridge Integration
Furthermore, a big highlight was Polyhedra’s zkBridge integration into Flare. A prior CNF report noted that by means of zk-proofs, a technique increasingly relevant in the blockchain scene, the zkBridge improves Flare’s security and facilitates cross-chain value transfers.
Hugo Philion, co-founder of Flare, underlined that the zkBridge integration provides the Layer Zero interoperability protocol with an additional degree of security, enabling more safe bridging between several blockchains.
Flare’s long-term plan calls for this to help it to be a safe and dependable blockchain platform for consumers and developers.
Beside that, we also reported Flare’s connection with Stargate Finance, which significantly increased liquidity previously. By means of this connectivity, liquidity from more than 25 blockchains can flow naturally into Flare.
The network now supports significant assets, including USDC, USDT, and ETH, using Stargate V2, hence creating more chances within the DeFi ecosystem. This integration is supposed to enhance Flare as a center of cross-chain liquidity and interoperability.
Meanwhile, Flare’s native token, (FLR), is swapping hands at roughly $0.01586 at the time of writing this article; it has increased 0.40% over the last 24 hours and 7.00% over the last 30 days.
