Flare Finance — The Open BETA Begins
By: Flare Finance
Tags: Ripple, Litecoin, Flare, Cryptocurrency, Defi

Welcome to the Flare Finance Open BETA Program.

We’re glad you could make it!

This summary will cover:

A brief recap of our progress since launch. A “How-To” on Wallet Setup and a quick FAQ. A Tentative Beta Schedule. Awards, Prizes and Free Assorted Crypto Airdrops.

Progress Recap

Since launching publicly October 2020, we have amassed just under 50K pre launch. 28.9K followers on our main twitter page, launched the first block explorer (FlareScan) on Flare Network , 9K followers on FlareScan, 7.8K on Discord and 3.4K on Telegram.

Twitter Stats @FlrFinance

Twitter Stats @FlareScan

Flare Finance Discord

Flare Finance Telegram

We’ve released FlareX (a decentralized exchange), FlareFarm (a yield farm and fair launchpad for future Flare tokens approved by community governance), FlareWrap (a cross-chain bridge between Flare and Ethereum) and FlareScan (Flare Block Explorer). We’ve built FlareIndex () and RestFlare API(Developer Tool). The remaining products are currently in development and may be available for testing during this phase, but if not, they will be available pre-audit for open community use.

We believe the path forward for DeFi to become sustainable is interoperability between both blockchains and protocols. It’s very important to have a large and active community. Real, Active users will incentivize other developers to either bridge to the Flare Network or even announce plans to migrate like Gala Games did and help us establish partnerships with larger entities. Although some may feel our marketing tactics are too flashy or “trying to incite FOMO” the results are as planned. We will continue to produce high quality ads and expand our organic reach to provide the most value possible to any current and future partnerships.

Wallet Setup

In order to utilize Flare Finance DAPPs built on Flare’s Coston Network you need a Web3 compatible wallet. For the test, we recommend using one of the following wallets:

For Computer and Mobile IOS Users

MetaMask: Browser Wallet (on Chrome or Brave) or IOS Metamask APP

There’s a setup guide for MetaMask here:

https://flarefinance.medium.com/welcome-to-the-flare-finance-beta-test-f0c2796af444

Because MetaMask is not built specifically for Coston there are some compatibility bugs that we can not fix. We’ve reached out to MetaMask support but understandably fixing a test net bug is not a priority.

Bug 1: After connecting to Coston and receiving some Test Net FLR tokens for gas the FLR balance will show on FlareScan but not in the Browser wallet. This occurs because MetaMask reads your ETH Main Network or Ropsten Test Network balance and not your FLR balance though it uses FLR for gas.

For example if you have 3 FLR and 0 Ropsten ETH, your FLR balance will show 0 on MetaMask desktop version. If you have 3 FLR and 1 Ropsten ETH, your FLR balance will show as 1.

Bug 2: When trying to transact, MetaMask shows an “insufficient funds” message even though you have enough FLR for gas fees. This occurs again because your Ropsten Test Network balance is 0 MetaMask requires you to have sufficient Ropsten ETH in your wallet for gas even though it uses FLR to pay the fees on Coston Test Network.

Frustrating bugs we understand but they’re easily solved by loading your wallet with a few ROPSTEN TEST NETWORK ETH. NO REAL FUNDS will be used in the Test Network.

For Android Users:

We recommend using D’Cent Wallet Mobile App which can be downloaded in the Google Play Store. Their CSO and CoFounder @ParomixMinhoYoo (https://twitter.com/ParomixMinhoYo) was kind enough to join our closed test net to verify DCent browser is properly configured for Flare Network DAPPs.

You can find setup instructions here: https://medium.com/dcentwallet/how-to-use-dapps-on-flare-network-testnet-with-dcent-wallet-903ccaf423d1

Unfortunately, DCent DAPP browser support is currently only offered for Android. So PC & IOS users cannot use DCent in the open beta round.

We’ve deployed a FAQ (Frequently Asked Questions) with the answers to a lot of common questions and will be expanding it as new queries are made.

For example: https://flrfinance.zendesk.com/hc/en-us/articles/360016826758-Should-I-have-0-FLR-as-of-now-

The FAQ can be found here: https://flrfinance.zendesk.com/hc/en-us

BETA Schedule

The BETA Program will have a high focus on locating and isolating bugs and user-experience issues across all platforms. This being said, you will be walking into a flurry of questions, errors, issues, and a bit of frustration. Please do note that all of this is as planned and we have organized our BETA program to be as “bare” as possible. Our goal is not to guide you all in any way on our platform, instead we prefer to analyze each of our users from the moment they get on platform, until the moment they become professionals at utilizing it. The whole point of this experiment is to find where we can better provide information, where information is in abundance, and where it just plain confuses people. This being said, all of the emotions you endure will be planned and part of the program. Do not be flustered, just enjoy the time!

The program will begin with all users preparing their wallets and having their tokens distributed appropriately. Once we have a majority of users all ready at the starting line, the main platform links will be launched and all BETA Testers can begin to partake in utilizing the platforms. Although we do not want to impact your decisions too much while you participate, we ask that you utilize our platform in this flow for your first visit:

Wrap some USDT to xUSD using FlareWrap. Farm some currency using xUSD and other tokens you are provided on FlareFarm. Provide Liquidity and Trade currencies on FlareX to try and build up your bag. Participate in governance once you have more YFLR and YFIN so we can test user proposals. Watch out for market swings as us whales will be simulating dumps and pumps in the ecosystem to help modify the overall curve of our AMM appropriately for long term sustainability.

Anything beyond these above actions are of your free choice and will.

The overall end goal is to deliver a product that has the best possible user experience, interface, and culture possible thanks to public opinion and open support!

Awards, Prizes, and Free Assorted Crypto Drops

The overall competition is centered around who can collect the most $ value at the end of the competition through utilizing our available 3 products. This means users must wrap, swap, farm, and earn their way to the top by doing any of the following tasks:

Provide liquidity on FlareX to earn trading fees. Stake your currency on FlareFarm to earn yield. Trade on FlareX to attempt to catch market swings and multiply your earnings.

4. Faucet is one use. Sending is disabled for competition tokens.

The Top 250 participants will receive 1 of 250 available “Rare Samurai NFT’s”

Additionally, the Top 10 participants will receive a Limited Edition Platinum Flare Finance Necklace along with their NFT.

Lastly, everyone can be a winner by participating in our daily random airdrops in our Discord server. Receive free XRP, DOGE, and LTC just for participating and being active in the groups!

It’s Time to Musk!

Get ready to go by heading on over to our Discord at https://discord.gg/flarefinance and begin the dive into the Flare Finance BETA Program.