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How to earn yield with Spark (Flare Network)?


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4 hours ago, Seoulite said:

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

I would agree with @tulo here. Most DeFi, even crypto, is almost entirely speculative today. Hell, even equity markets are in a frenzy but nowhere close to crypto.

What multiplier of utility + potential makes sense as a valuation ? 10x ? 100x ? 1000 x?

Ripple reported ~2.4B ODL notional  value in 2020, a 12x growth YoY.  At ~25B market cap, I could say that the market has factored a similar growth in 2021 for ODL, with no other business utilising XRPL, ignoring the traffic from ~5400 Assets issued on XRPL and their (probably minimal) traffic, zero impact from DeFi through Flare, etc. I can see how XRP is at worst appropriately valued, and at best undervalued.

BTC market cap is 1 Trillion. ADA is at 35B. PolkaDOT at 46B. How much of that is actually utility ? Who are the greater fools ?

 

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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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3 hours 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. 

I agree. Flare has the potential to destroy Ethereum with minimal friction to developers. Flare Finance has the ability to disrupt the DeFi on Ethereum, but I think there is also the possibilities that the more mature networks on Ethereum may be able to throw money at the problem, transition to Flare with little development effort, and leverage their existing brand value to upend Flare Finance’s plans. 
 

I’ve been fortunate to be able to participate in Flare Finance’s private beta and expect to support them within my means through this journey.

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6 minutes ago, Ripley said:

BTC market cap is 1 Trillion. ADA is at 35B. PolkaDOT at 46B. How much of that is actually utility ? Who are the greater fools ?

I see what you are getting at but I, like most here, still believe that eventually utility will outpace speculation. Of course that doesn't mean I am not trying to take advantage of speculation.

One of my thinking with Flare is that in crypto, it basically doesn't matter what you get into as long as you get in early. I intend to get into Flare early.

4 minutes ago, Ripley said:

the more mature networks on Ethereum may be able to throw money at the problem, transition to Flare with little development effort, and leverage their existing brand value to upend Flare Finance’s plans

What mature networks do you have in mind here?

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5 hours 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.  

ODL is 2.4B in 2020, a 12x increase from 2019. Yes it’s minimal, and that was without regulatory clarity. We are still very early. 
 

Your point remains largely valid. It is mostly useless coins. However, I’m confident that the Flare ecosystem is significantly better than the existing alternatives and will serve as a much better foundation than the current one. Let’s see if they are successful.

In terms of the potential, I think we are only 5 years away from mainstream utility from blockchain. A small % of those who made money from crypto will put it back into the ecosystem, and it becomes a virtuous cycle eventually leading to value. Remember the dot com bust (assuming you are old enough). There will be trash products from the most part but some diamonds in the rough out there. I have high hopes.

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3 minutes ago, Seoulite said:

What mature networks do you have in mind here?

I should have said relatively mature, and I meant primarily by brand recognition. Like Uniswap, Bancor, Foundation, etc. They have been making money for 12-15 months now, so as incumbents, if they are fast enough on their feet, can transfer their network or start a sister network on Flare with relative ease, bringing their existing customers along. Flare Finance would have to acquire new customers, which is harder.

My personal bias apart, I’m happy that you plan to get into Flare early and I would highly recommend it to almost everyone. It has a good decentralised consensus mechanism, it’s security is not tied to the token that is used for gas (the big issue for BTC and ETH) and is very very fast. It has a few other good things going for it but that’ll make this post too long.

 

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It's early and I am trying to wrap my head around the Flare.

I just read most of the Flare blog page.  Is it essentially to make xrp more stable as a payment system in a moving market?

If XRP becomes a stablecoin and gets locked into a fixed price then Flare would henceforth cease to exist.

 

On the positive side, FXRP could be huge.

 

Edited by Daniel8
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10 hours ago, Seoulite said:

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

Right now mainly yes.

  • Useless tokens which take away liquidity to useful markets.
  • Stupid and useless NFT tokens.
  • Scams.

But I believe there is a big potential. The biggest problem now is TPS and cost of transactions. If those will go down (for example with Flare and Avax) then a new world of possibilities will open.

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21 minutes ago, Daniel8 said:

It's early and I am trying to wrap my head around the Flare.

I just read most of the Flare blog page.  Is it essentially to make xrp more stable as a payment system in a moving market?

If XRP becomes a stablecoin and gets locked into a fixed price then Flare would henceforth cease to exist.

 

On the positive side, FXRP could be huge.

 

XRP Ledger is already a fantastic payment system. At a high level, Flare enables Ethereum Virtual Machine compatible smart contracts for other blockchains, starting with XRP, LTC, and DOGE.

FXRP is a 1:1 representation of XRP. Which means that to mint 100 FXRP, you would have to “lock” 100 XRP on the ledger.

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I am trying to buy flare right now.  On coinmarketcap.com there is zero $ cost for Flare.  One Flare's website it lists Kraken as an exchange and I'm on Kraken now and can not find it to purchase.

Is Flare not launched yet?

 

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I tell you what I'd personally like to see... and that's non-crypto assets on Flare. (Enough of the Dogecoins for now!) 

I don't mind whether that's equities & securities, indexes, commodities, options, bonds, whatever. Something from the "real world" so to speak. 

And not bloody NFTs either! Just the latest fad IMO. :D 

Edited by thinlyspread
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18 hours ago, Stedas said:

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)
  • How to earn yield

View infographics: https://www.stedas.hr/flare-network-spark-ecosystem.html 

Great infographic as always from @Stedas!

But I've watched every video from the Flare community and Youtubers and I've still not got clarity on the following: 

Q: How many income streams can you earn *simultaneously*? I.e., which cancel the other out? 

Forget f-assets for a minute. Pretend I have zero XRP, LTC, etc. I only hold FLR (and I suppose the DFLR airdrop). 

How many streams of income from all these options can I get at the same time, without one cancelling out the other?! :) 

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4 minutes ago, thinlyspread said:

Great infographic as always from @Stedas!

But I've watched every video from the Flare community and Youtubers and I've still not got clarity on the following: 

Q: How many income streams can you earn *simultaneously*? I.e., which cancel the other out? 

Forget f-assets for a minute. Pretend I have zero XRP, LTC, etc. I only hold FLR (and I suppose the DFLR airdrop). 

How many streams of income from all these options can I get at the same time, without one cancelling out the other?! :) 

You can divide your FLR and make money from multiple streams -

a. Staking with FTSO

b. Staking with Agents on Flare

c. Earning yield on Flare Finance through Flare Farm with either FLR, or YFLR, or both

d. Staking in the FLR-YFLR pair liquidity pool with FlareX - which will give you fees and liquidity tokens. Those tokens can be put on YieldFlare for additional yield.

e. Provide liquidity for Flare Mutual (loans, insurance etc)

Crypto in one stream cannot be used by another stream, though there may be an exception for FTSO stakes. I’m not sure of that and I haven’t had a chance to research it yet.

Important Note: Flare incentivises participation in the network. There is an inherent inflation of about 10% to begin with, and you’re going to be impacted if you don’t participate in the network in one way or another.

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