Flare, a layer-1 blockchain for non-smart contract DeFi, has launched Flare Fair, a campaign designed to expand its ecosystem.
The official start of Flare Fair comes at a time when the market as a whole is attempting to regain momentum after a week that was not very productive.
Not only did the native token of the Flare network an increase after the announcement, but it also saw an increase. As stated in the information that was disclosed on February 7th, the gamified experience that Flare Fair is offering is intended to develop the DeFi ecosystem of the L1 data platform.
Across the board, the team has devised a set of activities with the intention of encouraging users to make use of DeFi. Under a single hub, Flare Fair brings together the main decentralized finance protocols on the L1 level.
These protocols include, among others, Stargate Finance, SparkDEX, Kinetic Markets, Enosys, and Clearpool. Players have the opportunity to participate in a wide range of activities and engage with decentralized applications in order to acquire incentives such as Flaredrops and Reward Flare (rFLR).
Flare Fair Launches Multi-Phase Campaign with Digital Theme Park
Flare Fair’s multi-phased campaign, which includes a digital theme park with a variety of entertaining zones, will make these awards available to participants throughout the campaign.
Participants have the ability to carry out activities like lending on the Flare-based lending protocol Kinetic or trading tokens on the decentralized exchange SparkDEX.
The crypto-collateralized stablecoin USDX, Flare’s native token FLR, and Ethereum (ETH) are all examples of assets that offer support for lending. Tasks make it possible for participants to claim rFLR emissions, and users have the opportunity to claim additional FlareDrops when they claim their earned rFLR on a monthly basis.
In addition to continuous FlareDrops, Flare Fair provides rFLR rewards from a fund of 510 million FLR. The year will continue to see the launch of new decentralized applications (dApps), tasks, and prizes.
