Flare Network and Kinetic Forge Partnership to Transform DeFi Lending and Borrowing

3:07 am
December 15, 2023

The blockchain for data, Flare, and lending platform Kinetic, with the backing of Rome Blockchain Labs, have unveiled an impactful partnership aimed at revolutionizing decentralized finance (DeFi).

This collaboration seeks to bring lending and borrowing capabilities to the Flare ecosystem, thereby enhancing liquidity and fostering a robust DeFi experience.

Empowering DeFi with Effortless Lending and Borrowing

Flare, renowned as a blockchain for data, has forged a pioneering partnership with Kinetic, a lending and borrowing platform supported by Rome Blockchain Labs. The partnership is focused on providing Flare users with a seamless platform to engage in DeFi, offering the potential to earn block rewards through the utilization of their digital assets.

Users who contribute assets to the Flare platform can look forward to benefiting from incentivized and natural yield through liquidity provisioning.

Kinetic’s lending and borrowing platform operates on an over-collateralized structure, and borrowers can enjoy additional perks such as interest rebates and exclusive access to a Discord channel. Rome Blockchain Labs, with its extensive experience in establishing custom financial markets on various blockchain networks, will facilitate the launch of Kinetic.

The technical infrastructure and design provided by Rome Blockchain Labs will play a crucial role in achieving the seamless integration of lending and borrowing capabilities within the Flare ecosystem.

Integration with FAssets:

The partnership also involves Kinetic leveraging Flare’s native price oracle, the Flare Time Series Oracle, for decentralized asset prices. This integration ensures highly accurate and regularly updated price feeds, establishing a secure and responsive DeFi experience on the Flare network.

Furthermore, Kinetic plans to integrate FAssets developed by Flare Labs, enabling traditionally non-smart contract tokens such as bitcoin (BTC), ripple (XRP), and dogecoin (DOGE) to actively participate in DeFi activities. This integration represents a significant step in bridging traditional cryptocurrencies with advanced DeFi functionalities, enriching the lending and borrowing landscape.

Kinetic is dedicated to user security and technological excellence, as evidenced by strategic partnerships in the DeFi landscape. The platform aims for decentralization, seeking to eliminate KYC restrictions while remaining accessible in regions with regulatory uncertainty. Collaborations with Rome Blockchain Labs, Watchpug, and Immunefi underscore Kinetic’s commitment to robust technological infrastructure, smart contract audits, and bug bounty programs.

The initial launch on Flare’s testnet, Coston2, will provide users with a dynamic environment to engage, provide feedback, and gain insights into the innovative decentralized lending and borrowing platform.

### FAQs

#### What is the partnership between Flare and Kinetic about?
The partnership aims to bring lending and borrowing capabilities to the Flare ecosystem, enhancing liquidity and fostering a robust DeFi experience.

#### How will users benefit from the partnership between Flare and Kinetic?
Flare users stand to benefit from incentivized and natural yield through liquidity provisioning. Kinetic’s lending and borrowing platform operates in an over-collateralized structure, with borrowers enjoying additional perks such as interest rebates and exclusive access to a Discord channel.

#### What is the significance of the integration with FAssets?
The integration ensures highly accurate and regularly updated price feeds, laying the foundation for a secure and responsive DeFi experience on the Flare network. It also enables traditionally non-smart contract tokens to actively participate in DeFi activities.

#### How does Kinetic demonstrate commitment to user security and technological excellence?
Kinetic is committed to user security and technological excellence, as demonstrated by strategic partnerships in the DeFi landscape. The platform aims for decentralization, seeking to eliminate KYC restrictions while remaining accessible in regions with regulatory uncertainty. Collaborations with Rome Blockchain Labs, Watchpug, and Immunefi underscore Kinetic’s dedication to robust technological infrastructure, smart contract audits, and bug bounty programs.

#### When will the initial launch take place?
The initial launch on Flare’s testnet, Coston2, will provide users with a dynamic environment to engage, provide feedback, and gain insights into the innovative decentralized lending and borrowing platform.


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