Flare Finance is a decentralized finance (DeFi) platform for XRP, LTC and Flare holders.
Currently, most of the information is about the airdrop.
Airdrop
Flare Finance will airdrop YFLR to holders of Spark Token/Flare Network (which was airdropped from holding XRP) via a token called DFLR (the DAO token for Flare Finance).
You will receive DFLR around a month after the first Spark airdrop.
When you receive your DFLR, you will have 7 days to swap this for YFLR in order to begin utilizing the DeFi platform. You will be able to swap DFLR for YFLR on a 1:1 ratio
Any yFLR that is not claimed by the DFLR swap within 7 days will either be burnt or added to a reserve pool (depending on governance proposal vote)
You will be able to purchase Spark tokens from exchanges to add to your current airdropped stack, meaning you will be able to receive more DFLR
The only wallet or exchange currently supporting the DFLR airdrop is D'Cent Wallet
Bitrue and Poloniex are currently selling IOU Spark tokens. The terms of these are down to the exchange and Flare Network has no participation in this
Tokens & Products:
There are six products:
FlareX: Flare's decentralized exchange - like Uniswap
Flare Wrap: Bring ERC20 tokens onto the Flare Network
Flare Farm: Stake to earn YFIN and more project tokens
Flare Mine: Mine FLR through mining Bitcoin and Ethereum, with no extra power requirements
Flare Loans: Decentralized loans. Provide currencies for people to receive loans. Or, receive loans by providing collateral.
Flare Mutual: Decentralized insurance. Pool your assets to give people coverage over smart contract hacks/bugs/failures. Or, receive coverage for smart contract failures/bugs/hacks
And four tokens:
YieldFin (YFIN): One of the main Flare Finance tokens used for Governance of the whole ecosystem and also, loans, mutual funds and farming
YieldFlare (YFLR): The secondary governance token, used for FlareX Governance and also, the fee charge for FlareX swaps and liquidity rewards
FlareUSD (xUSD): The Flare Network stablecoin
YieldMine (YMIN): A token earnt alongside Flare via mining Bitcoin and Ethereum. Burn this token whilst mining to earn more Flare.