In this post:
- The Blockchain data network Flare recently announced the launch of its gamified virtual fair, Flare Fair, to introduce gamification to decentralized finance.
- The network explained that the fair would showcase the opportunities for crypto natives, including beginners and pros, to immerse themselves in DeFi.
- Flare has encouraged its users to participate in different tasks, join pools, and claim rewards monthly through the Flare Portal.
The blockchain for data Flare Network recently announced the launch of its gamified virtual fair, the Flare Fair, which allows crypto natives to interact with decentralized finance opportunities on the network. Flare outlined that the virtual space would give crypto users an immersive experience in a ‘true DeFi ecosystem.’ The announcement added that the participants could reap the full potential rewards of their efforts at the virtual fair.
Flare also announced that the virtual fair would feature varying rewards and activities per phase. The announcement disclosed that the fair would be divided into microsites that progressed in phases and introduced new tasks for participants. The Flare Fair will feature themed rides, access to new decentralized applications, and monthly rewards that participants can claim through the Flare Portal.
The announcement outlined some dApps the community can interact with, including Kinetic, Clearpool, SparkDEX, Enosys, Blazeswap, and Sceptre. The fair will also offer tasks, such as lending and borrowing ETH, USDC, USDT, USDX, and FLR, bridging through the Stargate Protocol, liquidity provision for Flare’s partners participating in the fair, and more. Flare promised users that the Flare Fair would also be cheap, fast, and secure.
Flare is a blockchain that enables crypto users to interact with non-DeFi native tokens within dApps. The blockchain, which supports data-intensive use cases, has attracted partnerships with projects in AI, Machine Learning, gaming, real-world asset tokenization, and more.
Flare offers rewards from the rFLR emissions pool
The Flare Fair will attract rewards depending on the tasks completed, including through FlareDrops and a high annual percentage rate (APR). The announcement further revealed that participants could tap into the rFLR emissions pool, which was created in August last year. Flare also announced that more interactions in the fair increased participants’ potential for rewards.
Flare’s head of marketing, Ami Tsang, mentioned that the launch of the rFLR emissions boosted the blockchain’s growth. Tsang stated that the blockchain’s total value locked has increased by approximately 3x since August, climbing to about $60 million in the past 5 months. The blockchain’s marketing head insisted that the launch of the Flare Fair was the beginning of more interactions with Flare DeFi, which could boost Flare’s TVL.
“Doing DeFi on Flare should be fun and easy…With the opening of the Flare Fair, the steps for participation in Flare DeFi will be greatly simplified and are deemed to boost our TVL and ecosystem growth.”
Ami Tsang, Flare’s Head of Marketing
Flare introduced the rFLR emissions program to incentivize liquidity provision to the network using ETH, USDC, USDT, FLR, and more. The emissions pool has 510 million FLR dedicated to the rewards program, which Flare Fair participants can now earn. Flare confirmed that the monthly reward pool would constantly increase over time.
Flare creates earning opportunities for its community
Flare has initiated multiple projects that offer its community opportunities to earn rewards. The blockchain recently partnered with Google Cloud to introduce a hackathon with a total prize pool of $100,000. Flare announced that the prize pool would be split between the virtual prize pool and the in-person prize pool, standing at $40,000 and $60,000, respectively. The hackathon will allow developers globally to build AI applications in DeFi, social, RAG knowledge, and consensus learning.
The blockchain also launched the Songbird testing phase for the FXRP token to improve the chain’s interactions with other blockchains while improving the FAssets system. Flare stated that the Songbird testing phase would introduce FXRP to real-world use cases after its testing in a virtual environment. The Flare team encouraged users to participate in the testing phase through liquidity provision minting, lending, redeeming FAssets, trading tokenized assets, and more.
Flare set aside $260,000 in rFLR tokens to reward the Songbird testing phase participants and announced that the rewards would be distributed at the beginning of every 2 weeks through the Flare Portal. The distribution will last for the duration of the test, with Flare adding that it would provide additional incentives if the testing period exceeded the scheduled weeks.
