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How to earn yield with Spark (Flare Network)?


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Not convinced about all this "utility" hype yet. Sounds like it's just a much better defi platform for trading between, well, useless coins. I guess it's a step forward technologically, and sure in a

These infographics show high-level overview of the Spark ecosystem (Flare Network). F-Assets agents Flare Time Series Oracle (FTSO) Data providers dApps (Flare Finance)

You misunderstood me. You are not relinquishing ownership of anything. XRP is the same as FXRP. Think of FXRP as a stable coin pegged to XRP. 1 FXRP is always 1 XRP. What Flare does is enable sma

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Not convinced about all this "utility" hype yet. Sounds like it's just a much better defi platform for trading between, well, useless coins. I guess it's a step forward technologically, and sure in a bull market maybe we'll get rich bla bla... but what are the REAL WORLD use cases? What am I going to see in the real world every day that will benefit from Flare? 

Haven't seen anything like that yet. (Is there anything actually using Ethereum yet? A business with real cost savings?) Anyway, happy to hear about something and I get this is still early days – just don't want to buy the obvious hype in videos like this. We had it with Ripple too, and so far ODL is unbelievably minimal and niche.  

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42 minutes ago, thinlyspread said:

Not convinced about all this "utility" hype yet. Sounds like it's just a much better defi platform for trading between, well, useless coins. I guess it's a step forward technologically, and sure in a bull market maybe we'll get rich bla bla... but what are the REAL WORLD use cases? What am I going to see in the real world every day that will benefit from Flare? 

Haven't seen anything like that yet. (Is there anything actually using Ethereum yet? A business with real cost savings?) Anyway, happy to hear about something and I get this is still early days – just don't want to buy the obvious hype in videos like this. We had it with Ripple too, and so far ODL is unbelievably minimal and niche.  

Yeah to me it seems another pump scheme. As pancake swap, sushiswap, burgerswap and all this sh!t.
I mean, there is an underlying use case, that is swapping tokens, the problem is that they are useless tokens only created to farm more tokens and speculate.
And the huge problem is the abnosmous gas fees to interact with the network. On ETH now it's impossible. On BSC it's centralized. Maybe AVAX and Flare will partly solve this.

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44 minutes ago, thinlyspread said:

Not convinced about all this "utility" hype yet. Sounds like it's just a much better defi platform for trading between, well, useless coins. I guess it's a step forward technologically, and sure in a bull market maybe we'll get rich bla bla... but what are the REAL WORLD use cases? What am I going to see in the real world every day that will benefit from Flare? 

Haven't seen anything like that yet. (Is there anything actually using Ethereum yet? A business with real cost savings?) Anyway, happy to hear about something and I get this is still early days – just don't want to buy the obvious hype in videos like this. We had it with Ripple too, and so far ODL is unbelievably minimal and niche.  

This. 

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49 minutes ago, thinlyspread said:

 

Is there anything actually using Ethereum yet? A business with real cost savings?) Anyway, happy to hear about something and I get this is still early days – just don't want to buy the obvious hype in videos like this. We had it with Ripple too, and so far ODL is unbelievably minimal and niche.  

Yes, I recently invested in Crowdz's Series A alongside some really top tier VC firms.  Crowdz is built on Ethereum to provide an SME invoice auction marketplace where funders can bid to purchase invoices providing optionality for SME’s to choose the most competitive rate. Crowdz also provides large corporates the ability to provide white label Supply Chain Finance as a Service (SCFaaS) on top of its marketplace model making it the first in the world to provide Supply Chain Finance as a Service (SCFaaS).

The platform grew from 450 customers in Jan 2020 to 26k in December as of a couple of months ago when I committed.  I didn't realize that late payments cost SMEs as much as $3 trillion globally, with 1 in 10 invoices failing to be paid on time.  

My hope is that Flare captures some of these types of innovative business leveraging blockchain and smart contracts.  

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1 hour ago, thinlyspread said:

Haven't seen anything like that yet. (Is there anything actually using Ethereum yet? A business with real cost savings?)

The CEO of Gala Games told Eri that it is costing them 10s of thousands of dollars a week to mint their NFTs on Ethereum. They are going to move to Flare because the costs are far lower. Now, you might say this is just a bunch of nerds passing tokens around in their little game, but that is not the point. If a business owner tells me he is spending 10k a week to ship his products, and I tell him that I will do it for less than 100 a week, faster and more securely - that sure sounds like a value proposition to me. 

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43 minutes ago, aavkk said:

My hope is that Flare captures some of these types of innovative business leveraging blockchain and smart contracts.

There is every reason to expect so, since Flare is offering everything that Ethereum does but much faster and much cheaper. It is also specifically designed with porting these kinds of projects directly from Ethereum in mind. 

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1 minute ago, Seoulite said:

There is every reason to expect so, since Flare is offering everything that Ethereum does but much faster and much cheaper. It is also specifically designed with porting these kinds of projects directly from Ethereum in mind. 

There is also avax which is way ahead in the games. There is already the network running and the AMM swap (Pangolin).

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45 minutes ago, tulo said:

I mean, there is an underlying use case, that is swapping tokens, the problem is that they are useless tokens only created to farm more tokens and speculate.

Are you confusing Flare with Flare Finance? On Flare you are not swapping any tokens. The value proposition for Spark holders is that you are earning compounding yield on the assets you hold. It's the same with any F-assets. As Mickey says in his latest video linked above, previously the value proposition for xrp holders was 'hold a long time and hope ODL adoption sends it to the moon'. Same with BTC 'hold and wait for Wall Street and the billionaires to buy into Satoshi's vision'. With many new projects, the idea now is earning yield. This is attractive to people who realise that having your money in the bank is less than useless.

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1 minute ago, Seoulite said:

Are you confusing Flare with Flare Finance? On Flare you are not swapping any tokens. The value proposition for Spark holders is that you are earning compounding yield on the assets you hold. It's the same with any F-assets. As Mickey says in his latest video linked above, previously the value proposition for xrp holders was 'hold a long time and hope ODL adoption sends it to the moon'. Same with BTC 'hold and wait for Wall Street and the billionaires to buy into Satoshi's vision'. With many new projects, the idea now is earning yield. This is attractive to people who realise that having your money in the bank is less than useless.

Nope. Flare will support smart contracts. AVAX also. An AMM is just a series of smart contracts deployed on the network. Flare Finance will be a series of contracts on Flare, which will include an AMM.

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3 minutes ago, tulo said:

Nope. Flare will support smart contracts. AVAX also. An AMM is just a series of smart contracts deployed on the network. Flare Finance will be a series of contracts on Flare, which will include an AMM.

So are you saying that DeFi and smart contracts in general are just swapping useless tokens around to farm more tokens and speculate?

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