- Flare partners with Kinetic to revolutionize DeFi lending/lending on the blockchain.
- Users benefit from liquidity incentives. Kinetic offers excess collateral loans.
- Rome Blockchain Labs facilitates Kinetic launches by leveraging Flare’s oracles for accurate pricing.
Flare, a blockchain for data powered by Rome Blockchain Labs, and lending platform Kinetic announced a strategic partnership to revolutionize decentralized finance (DeFi).
The goal of this collaboration is to introduce lending capabilities to the Flare ecosystem, deepening liquidity and fostering a powerful DeFi experience.
Supporting DeFi with seamless lending and borrowing
Flare, a recognized data blockchain, has entered into a groundbreaking partnership with Kinetic, a lending platform backed by Rome Blockchain Labs. The collaboration is focused on providing Flare users with a streamlined platform for DeFi participation and the possibility to earn block rewards by leveraging digital assets.
Flare users who contribute assets to the platform can benefit from incentives and natural returns through liquidity provisioning.
Kinetic’s lending and lending platform operates on an overcollateralized structure, allowing borrowers to enjoy additional benefits such as interest rebates and access to an exclusive Discord channel. Rome Blockchain Labs (RBL), which has extensive experience creating custom financial markets on a variety of blockchain networks, will facilitate the launch of Kinetic.
The technical infrastructure and architecture provided by RBL will play a critical role in enabling seamless integration of lending and borrowing functions within the Flare ecosystem.
Integration with FAsset:
Through the partnership, Kinetic will leverage Flare’s primary price oracle, the Flare Time Series Oracle, for decentralized asset pricing. These integrations ensure highly accurate and frequently updated price feeds, laying the foundation for a secure and responsive DeFi experience on the Flare Network.
Kinetic also plans to integrate FAsset developed by Flare Labs to enable traditionally non-smart contract tokens such as Bitcoin (BTC), Ripple (XRP), and Dogecoin (DOGE) to actively participate in DeFi activities. This integration is an important step toward enriching the lending experience by connecting traditional cryptocurrencies with advanced DeFi capabilities.
Kinetic is committed to user security and technical excellence demonstrated through strategic partnerships in the DeFi environment. The platform aims to decentralize and eliminate KYC restrictions while maintaining accessibility in regions with uncertain regulations. Collaborations with Rome Blockchain Labs, Watchpug, and Immunefi highlight Kinetic’s commitment to a strong technology infrastructure, smart contract auditing, and bug bounty programs.
The initial launch of 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.