Passive income w/ spark tokens

[Joeymc13]

Hey guys, I did use the search function and went through all 66 topics started with the word “spark” in the title before I wrote this. I did find a cpl threads from nov/dec discussing this, but general consensus was that we needed to wait for more information to come out on the subject. I’m hoping you guys can help. 
 

Im by no means a computer savvy person, most of the terminology being used when I try to research just confuses me. I’m a 38 yr old small business owner who installs electronics on boats/yachts. I don’t really understand this stuff well, and was hoping to get opinions and hopefully some helpful resources for me to continue researching this. 
 

The main question is, what do you guys intend on doing to earn passive income with your spark? (I know some will hodl, although the research I’ve done suggests that is not good to do, as Flare intends to reward those who actively participate in the Flare ecosystem.)

 

I understand we can vote towards the FTSO either directly, or through an agent, and we will be rewarded in Spark. 

I also understand we can mint F-assets by combining 2.5x’s the native assets value in Spark, and rewards will be paid in the native asset. (Does anyone know what potential reward % will be?)
 

My largest confusion comes from all  the different products that Flare Finance offers. (FlareX, Flare Wrap, Flare Farm, Flare Mine, Flare Loans, Flare Mutual)

 

Obviously, I’d like to maximize all potential passive income possible, Is there any info out there on what strategies to use, what potential rewards/profits could be, etc? If there is no documented info available, your opinions would be greatly appreciated as well! Thanks in advance!

 

 

[brianwalden]

In general, no one knows what the optimal strategy is yet because we don't have the details on what type of rates can be earned. Everything is still really abstract right now, hopefully we'll get some concrete examples before launch. I think there's going to be a lot of trial and error at the start to see what pays out the best.

I can give you a brief explanation of the different Flare Finance products. FlareX is a UniSwap-style exchange using liquidity pools. Flare Wrap is to wrap ERC-20 tokens to bring them over to Flare (it's a different way of bringing tokens over than F-assets). Flare Farm is where you can stake coins to earn yield on them. Flare loans are where you put up crypto as collateral to get a loan. Flare mutual is a mutual insurance service. And Flare mine is a way for miners from other networks to earn rewards from Flare Finance.

Another way you'll be able to use FLR is with Trustline.co. I think you'll be able to put in FLR to back their dollar stablecoin which they'll be issuing both on Flare and the XRPL.

There's a Flare Club here in the forum. If you go to Clubs in the main menu, you should be able to find it. There's more Flare talk in there.

[Seoulite]

1 hour ago, Joeymc13 said:

Hey guys, I did use the search function and went through all 66 topics started with the word “spark” in the title before I wrote this. I did find a cpl threads from nov/dec discussing this, but general consensus was that we needed to wait for more information to come out on the subject. I’m hoping you guys can help. 
 

Im by no means a computer savvy person, most of the terminology being used when I try to research just confuses me. I’m a 38 yr old small business owner who installs electronics on boats/yachts. I don’t really understand this stuff well, and was hoping to get opinions and hopefully some helpful resources for me to continue researching this. 
 

The main question is, what do you guys intend on doing to earn passive income with your spark? (I know some will hodl, although the research I’ve done suggests that is not good to do, as Flare intends to reward those who actively participate in the Flare ecosystem.)

 

I understand we can vote towards the FTSO either directly, or through an agent, and we will be rewarded in Spark. 

I also understand we can mint F-assets by combining 2.5x’s the native assets value in Spark, and rewards will be paid in the native asset. (Does anyone know what potential reward % will be?)
 

My largest confusion comes from all  the different products that Flare Finance offers. (FlareX, Flare Wrap, Flare Farm, Flare Mine, Flare Loans, Flare Mutual)

 

Obviously, I’d like to maximize all potential passive income possible, Is there any info out there on what strategies to use, what potential rewards/profits could be, etc? If there is no documented info available, your opinions would be greatly appreciated as well! Thanks in advance!

 

 

Just posted this in the Flare club. It's a link to videos of one of the best Flare youtube channels, exploring (seriously) the potential yields for Flare.