Flare Finance will be the first DeFi protocol to go live on much-anticipated XRPL “utility fork” Flare. Its beta testing mechanisms are now ready to go public
Starting from next week, all enthusiasts of Flare Finance (YFLR), the pioneering decentralized financial protocol (DeFi) on Flare, will be able to explore its functionality. The team of the DeFi shared the time framework for its public beta testing.
Flare Finance goes live in public beta
According to the latest tweet by Flare Finance’s administration, its public beta testing program will commence on Feb. 25, 2021. Just like its closed stage, it will be dedicated to the theme of the samurai.
Closed beta testing with hundreds of testers was organized in January 2021. It attracted DeFi users with various levels of expertise. Its participants were eligible for an airdrop with one out of 110 unique non-fungible tokens as a prize.
To celebrare the launch of public beta testing, the Flare Finance team has started an XRP airdrop. Five lucky winners from the Flare Finance community will receive 100 XRP tokens each.
To take part in the airdrop program, a supporter of Flare Finance needs to like the announcement on Twitter, share it on his/her page and tag three friends.
Approaching mainnet release
Meanwhile, the XRPL-focused smart contracts initiative, the “Hooks Amendment,” also inches closer to its public beta testnet. In Q1, 2021, all XRP Army soldiers will be able to experiment with basic smart contracts on XRP Ledger.
At the same time, the Flare Network (FLR) will also go live on mainnet in Q1, 2021. This milestone will not be affected by the ongoing legal battle between Ripple Inc. and the U.S. SEC.
YFLR, YFIN and YMIN will be the first three assets to be activated on Flare Finance. They will serve as governance utility assets and “yield farming” coins.
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