Flare, the layer-1 blockchain for non-smart contract decentralized finance, has announced the launch of the Flare Fair campaign, aimed at developing its DeFi ecosystem.
Launch of Flare Fair: Strategy and Goals
The official launch of the Flare Fair initiative comes as efforts are made to regain market momentum. According to reports, Flare Fair provides a gamified experience designed to advance the L1 data platform's DeFi ecosystem. The team has outlined a suite of activities in the DeFi space aimed at incentivizing usage.
DeFi Powerhouses: Flare Fair Partners
Flare Fair brings together leading DeFi protocols on the layer-1 blockchain, including Stargate Finance, SparkDEX, Kinetic Markets, Enosys, and Clearpool, among others, under a single platform.
Participation Opportunities and Rewards within Flare Fair
Users can explore various activities and interact with decentralized applications to earn rewards, including Reward Flare (rFLR) and Flaredrops. These rewards will be distributed across Flare Fair's multi-phased campaign, which features a digital theme park with various fun zones. Participants can complete tasks such as token swaps on the SparkDEX decentralized exchange or lending on the Kinetic lending protocol. Supported assets for lending include the crypto-collateralized stablecoin USDX, Flare's native token FLR, and Ethereum (ETH).
Flare Fair offers rFLR rewards from a 510 million FLR pool and ongoing FlareDrops. New dApps, tasks, and rewards will continue to launch throughout the year, providing platform users with new opportunities.
