Flare Finance (FLR), the first-ever decentralized financial ecosystem (DeFi) that is under development on “XRPL utility fork” Flare, shares an update on its beta testing process.
FlareX, FlareWrap and FlareFarm are being tested on Coston
According to a recent Twitter thread by Flare Finance, the first three components of its ecosystem, namely FlareX decentralized exchange, FlareWrap tool for creating synthetic assets and FlareFarm instrument for “yield farming” are undergoing tests right now.
Meanwhile, the beta version of the protocol is live on Coston Flare’s testnet environment for 75,000 blocks.
The testing team admits that some bugs have been found in the initial version of code, but all of them were noted and will be fixed by this weekend.
The final stage of the beta experiments will include ‘BETA Competition’. This will be a crucial stress-test since all testers will try to get maximum of Flare Finance (FLR).
New testers are welcome on Flare Finance, NFT battle expands
To simulate maximum pressure on the network, Flare Finance (FLR) invites 30 more testers to join the team of Beta participants. To be added to the club, Flare enthusiasts need to post a comment below the announcement in Twitter.
All testers are eligible for an unusual Samurai airdrop with 1 out of 110 unique non-fungible tokens as a prize.
Flare Finance is going to be the first full-stack DeFi on Flare, a programmatic ‘utility fork’ of XRP Ledger mechanisms. Flare Finance will include six DeFi-specific instruments: DEX, stablecoin environment, ‘yield farming’ tools and so on.