What is Flare?

Flare Network

What is Flare?

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Discover Flare Network

The Gateway to a New Era of Blockchain

With Flare Network, your crypto assets stop being simple coins and become protagonists of the decentralized future.

Explore this technology with Latin Link and take the first step towards Web3!

Did you know...

More than 70% of the total value in blockchain remains inactive due to the lack of smart contracts.

Flare changes this landscape by introducing FAssets, an innovative tool that allows your tokens to integrate into the decentralized economy (DeFi) and generate returns.

How does Flare work? This network combines two essential elements:

Flare Time Series Oracle (FTSO): provides decentralized and reliable prices for your tokens.
State Connector: securely verifies transactions between different blockchains.

To create an FAsset, your token is backed by a mix of collateral: the original asset, stablecoins or ETH, and native tokens like FLR or SGB. This process is protected by agents operating under an over-collateralization system, ensuring stability and trust at every step.

Step by step to create an FAsset:

Choose an agent and pay a minimal fee.
Transfer your asset to the agent, with State Connector validation to ensure accuracy.
Once processed, your FAssets are generated as ERC-20 tokens on Flare, ready for DeFi applications or LayerCake (transfer).

Complete Guide

Delegating on Flare Network

It's easier than you think!

Delegating your tokens on Flare Network is an easy and secure way to actively participate in the network while earning rewards. Although the network was in observation mode until September 2022, here we offer you a detailed guide so you're ready when everything is fully operational.

Steps to delegate your tokens:

1. Wrap your FLR

Convert your FLR into WFLR (Wrapped FLR) at a 1:1 ratio. This step is essential to prepare them for delegation.

2. Select your wallet

You can choose MetaMask, Bifrost, D'Cent, or Ledger. For example, if you use MetaMask, access the delegation page, indicate the amount of WFLR you want to delegate, and confirm the transaction with a click.

3. Confirm your delegation

Check your transaction status on a blockchain explorer to make sure everything is in order.

4. Enjoy peace of mind

Once delegated, you don't need to do anything else. Your tokens remain under your control and you can move them whenever you want. In addition, voting power automatically adjusts according to your WFLR balance.

This guide will be updated with links and more details when the network is fully active. With Latin Link, you'll be prepared to get the most out of your tokens on Flare Network.

Governance & Data

Understanding WFLR's 'Detachable' Vote on Flare

WFLR's "detachable" vote may seem complicated, but it's a powerful feature of Flare Network. We explain it simply so you can make the most of this functionality.

Vote and use WFLR in DeFi at the same time?

Not directly. If you delegate your WFLR to the FTSO, it won't be available for use in DeFi applications simultaneously. Some Dapps can delegate for you and share rewards with you, although this means you give up control over who your vote is delegated to.

Key Differences

FLR

It's Flare's native token, ideal for paying gas fees and making basic transactions, but without advanced capabilities.

WFLR

It's the wrapped version of FLR (1:1), designed to delegate to the FTSO, vote and receive rewards, while always maintaining custody.

Your Options to Participate

Full control: Keep your WFLR in your wallet and delegate directly, choosing yourself who to support.

Double benefit: Trust a Dapp to delegate for you and generate DeFi returns, accepting that they will decide for you.

Think of this as deciding between driving your own car or taking a taxi: both options get you to your destination, but with different levels of control.

Roadmap

The Future of Flare: Game-Changing Innovations

Flare Network doesn't stop, and its evolution promises to transform the way you use blockchain. Here we tell you about the innovations on the way and how they will benefit you.

Simplified staking

Soon, staking will be integrated directly into the blockchain, allowing your staked FLR to participate in FTSO rewards, FlareDrops, and governance decisions without additional complications.

FAssets expansion

After successful tests on Coston and Songbird, FAssets will reach the main network, opening doors to DeFi opportunities and offering FLR rewards from a cross-chain incentive fund.

FTSO V2

Next generation oracle faster and more efficient, with up to 50 updates/90s (scalable to 1000). It will deliver high-frequency data per block, customized according to what you need.

The future is closer than you think! These improvements position Flare as a Web3 pioneer, and at Latin Link we'll be with you to take advantage of every innovation with confidence and ease.

Data System

FTSO Providers: The Guardians of Prices on Flare

FTSO providers are the heart of Flare Network's data system, ensuring accurate and decentralized prices for all users. Here we explain who they are, what they do, and how you can benefit from their work.

What is their role?

These specialists develop advanced systems to collect price data from various sources, such as exchanges, and send it to Flare to keep the network updated and reliable. If their estimates are accurate, both they and those who delegate to them receive token rewards.

How can you participate?

Become a provider

If you have technical skills, you can develop your own FTSO system and be an active part of the network.

Delegate your tokens

If you're looking for a simpler option, delegate your WFLR to a trusted provider and share rewards effortlessly.

How does voting work?

At regular intervals, providers submit their price estimates. Flare calculates the median of this data to establish the official price. Those providers whose estimates fall within the accepted range are rewarded, and those gains are shared with those who delegated their tokens to them.

With Latin Link's guidance, you'll find the best way to get involved and maximize your benefits on Flare Network. You decide how to be part of this revolution!

What is Flare?

What is Flare?

The Gateway to a New Era of Blockchain

Delegating on Flare Network

Steps to delegate your tokens:

1. Wrap your FLR

2. Select your wallet

3. Confirm your delegation

4. Enjoy peace of mind

Understanding WFLR's 'Detachable' Vote on Flare

Vote and use WFLR in DeFi at the same time?

Key Differences

Your Options to Participate

The Future of Flare: Game-Changing Innovations

Simplified staking

FAssets expansion

FTSO V2

FTSO Providers: The Guardians of Prices on Flare

What is their role?

How can you participate?

Become a provider

Delegate your tokens

How does voting work?

Resources

Policies