Flare Finance White Paper

[Seoulite]

Going to read it now and will comment with some thoughts after I've read it.

https://flr.finance

[Seoulite]

OK things that jump out on first read:

FF will be KYC and AML compliant:

Flare Finance utilizes various third-party technologies to offer the best regulatory compliant solution to ensure KYC and AML policies are followed as much as possible. These technologies will help offer a more regulatory friendly solution for our users and a safer place to engage with peer-to-peer financial solutions.

 

FlareX participants can be ODL providers (does this mean anything special?)

Participants of the ecosystem can become On-Demand Liquidity Providers (ODL) Providers and earn fees for doing so in the form of a boosted liquidity pool position.

 

Launchpad (don't fully understand this but I like the sound of it)

FlareFarm Launchpad is a user-governed token Launchpad geared towards giving holder's a chance to support projects hoping to build in and around the Flare Finance Ecosystem.

 

FlareMine automatically converts assets in F-assets (this sounds interesting)

A primary benefit of the FlareMine Decentralized Mining Pool is that it facilitates a means for direct F-Asset Minting. Mining through the FlareMine pool automatically converts assets from their base form into their trustless form allowing for interactions with endless possibilities due to the smart contract capabilities of the Flare Network. This constant mining into F-Assets can help promote a long term supply crisis in the form of readily available base currency, and promotes more use on the Flare Network by pushing that supply into programmable trustless currency.

 

Triple rewards (multiple ways to earn yield at the same time)

Additionally, Flare Finance offers holder's of F-Assets the opportunity to earn triple rewards by participating in Minting F-Assets (earning FLR), providing those F-Assets to Liquidity Pools (earning fees), and staking those LP Tokens in FlareFarm (earning yield).

 

Also I was sceptical of the whole samurai thing at first but I must say I'm getting on board. The image on the cover of this white paper is undeniably cool:

 

Edited May 21, 2021 by Seoulite

[brianwalden]

1 hour ago, Seoulite said:

OK things that jump out on first read:

FF will be KYC and AML compliant:

Flare Finance utilizes various third-party technologies to offer the best regulatory compliant solution to ensure KYC and AML policies are followed as much as possible. These technologies will help offer a more regulatory friendly solution for our users and a safer place to engage with peer-to-peer financial solutions.

 

FlareX participants can be ODL providers (does this mean anything special?)

Participants of the ecosystem can become On-Demand Liquidity Providers (ODL) Providers and earn fees for doing so in the form of a boosted liquidity pool position.

 

Launchpad (don't fully understand this but I like the sound of it)

FlareFarm Launchpad is a user-governed token Launchpad geared towards giving holder's a chance to support projects hoping to build in and around the Flare Finance Ecosystem.

 

FlareMine automatically converts assets in F-assets (this sounds interesting)

A primary benefit of the FlareMine Decentralized Mining Pool is that it facilitates a means for direct F-Asset Minting. Mining through the FlareMine pool automatically converts assets from their base form into their trustless form allowing for interactions with endless possibilities due to the smart contract capabilities of the Flare Network. This constant mining into F-Assets can help promote a long term supply crisis in the form of readily available base currency, and promotes more use on the Flare Network by pushing that supply into programmable trustless currency.

 

Triple rewards (multiple ways to earn yield at the same time)

Additionally, Flare Finance offers holder's of F-Assets the opportunity to earn triple rewards by participating in Minting F-Assets (earning FLR), providing those F-Assets to Liquidity Pools (earning fees), and staking those LP Tokens in FlareFarm (earning yield).

 

Also I was sceptical of the whole samurai thing at first but I must say I'm getting on board. The image on the cover of this white paper is undeniably cool:

 

Ok, now I get why you changed your avatar. Did you see they'll be selling merchandise?

I think they're just using on demand liquidity generically - it's not Ripple's ODL. UniSwap-like liquidity pools are automatic market makers, they provide on demand liquidity 24/7.

I think Launchpad sounds like a way to distribute coins whether it's a new coin or just a promotional giveaway. You stake your tokens to receive the coin being given away.

[Seoulite]

34 minutes ago, brianwalden said:

Ok, now I get why you changed your avatar. Did you see they'll be selling merchandise?

I think they're just using on demand liquidity generically - it's not Ripple's ODL. UniSwap-like liquidity pools are automatic market makers, they provide on demand liquidity 24/7.

I think Launchpad sounds like a way to distribute coins whether it's a new coin or just a promotional giveaway. You stake your tokens to receive the coin being given away.

Don't think I'll be buying merchandise but I do like this picture. Yeah I figured they were probably using it generically. Also in the video by The DeFi Standard today they said that the launchpad is very similar to someone the BNB does, which has already launched hundreds of projects. Difference is that FF is done by governance vote whereas Binance jut decides themselves what they want to launch.

[Flintstone]

4 hours ago, brianwalden said:

Ok, now I get why you changed your avatar. Did you see they'll be selling merchandise?

I think they're just using on demand liquidity generically - it's not Ripple's ODL. UniSwap-like liquidity pools are automatic market makers, they provide on demand liquidity 24/7.

I think Launchpad sounds like a way to distribute coins whether it's a new coin or just a promotional giveaway. You stake your tokens to receive the coin being given away.

Yep, spot on.

@Seoulite The Merch is pretty cool, going by the samples I’ve seen. I’m not one for merchandise myself but the hoodie I saw looked quite tasty. Supposed to be high quality stuff too.

 

[Seoulite]

Interesting thing also in this white paper is how they are incentivising the use of F-assets by giving a higher YFIN yield in the liquidity pools:

YFIN is clearly their carrot, and they are going to use it as much as they can. It is nice to see such synergy between what Flare is trying to do and what FF is trying to do. This certainly makes it more attractive to mint FXRP and put at least some in the flare farm. I'll be honest, the whole YFIN thing seems a little too gimmicky, a little too obvious to me still, but maybe that will change. I was lukewarm on FF in the beginning but am warming up to it. Maybe the same will happen with YFIN. The price will be high no matter what, even with a tiny amount of usage on FF. Worth trying to get some no matter what.

[JASCoder]

16 hours ago, Seoulite said:

This constant mining into F-Assets can help promote a long term supply crisis in the form of readily available base currency, and promotes more use...

I wonder if this was a typo, they meant to write: "... can help prevent a long term..."

[Seoulite]

3 hours ago, JASCoder said:

I wonder if this was a typo, they meant to write: "... can help prevent a long term..."

Yes looking at it that would make sense. Probably don’t expect them to promote long term crises 

[WrathofKahneman]

A big question I have after the white paper is to what degree the ecosystem relies on POW mining?  They posit Flare Mine as basically an "as the ecosystem’s infinite mining portfolio manager" which is a little uncomfortable - is the system viable without POW mining?  Is there a crossover point where yields are safe though POW mining of BTC & ETH go away, or is it ultimately as system running on Flare that need BTC mining to operate?  Feels like lots of interesting pieces without an overview of the tokenomincs.

[brianwalden]

2 hours ago, WrathofKahneman said:

A big question I have after the white paper is to what degree the ecosystem relies on POW mining?  They posit Flare Mine as basically an "as the ecosystem’s infinite mining portfolio manager" which is a little uncomfortable - is the system viable without POW mining?  Is there a crossover point where yields are safe though POW mining of BTC & ETH go away, or is it ultimately as system running on Flare that need BTC mining to operate?  Feels like lots of interesting pieces without an overview of the tokenomincs.

I don't think Flare Finance relies on the mining. Flare Mine is basically like a direct deposit program for miners. They can automatically send their mining rewards to Flare Finance. I don't think they care about the mining in and of itself, it's just a market for them to tap.

[Seoulite]

27 minutes ago, brianwalden said:

I don't think Flare Finance relies on the mining. Flare Mine is basically like a direct deposit program for miners. They can automatically send their mining rewards to Flare Finance. I don't think they care about the mining in and of itself, it's just a market for them to tap.

Also as I wrote above they have designed it so that all the rewards are automatically minted in F-assets, boosting the system.