Flare and Kinetic join forces to revolutionize DeFi lending and borrowing

• Flare partners with Kinetic, revolutionizing DeFi lending/borrowing on blockchain.
• Users benefit from liquidity incentives; Kinetic offers over-collateralized borrowing.
• Rome Blockchain Labs facilitates Kinetic launch, leveraging Flare’s oracles for accurate prices.

Blockchain for data, Flare, and lending platform Kinetic, backed by Rome Blockchain Labs, have announced a strategic partnership set to revolutionize decentralized finance (DeFi).

This collaboration aims to introduce lending and borrowing capabilities to the Flare ecosystem, deepening liquidity and fostering a robust DeFi experience.

Powering DeFi with seamless lending and borrowing

Flare, recognized as the blockchain for data, has entered into a groundbreaking partnership with Kinetic, a lending and borrowing platform supported by Rome Blockchain Labs. The collaboration focuses on providing Flare users with a streamlined platform for participating in DeFi, offering the potential to earn block rewards by utilizing their digital assets.

Flare users contributing assets to the platform 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 Discord channel access. Rome Blockchain Labs (RBL), with its extensive experience in creating custom financial markets on various blockchain networks, will facilitate the launch of Kinetic.

The technical infrastructure and design provided by RBL will be instrumental in realizing the seamless integration of lending and borrowing capabilities within the Flare ecosystem.

Integration with FAssets:

The partnership further entails Kinetic leveraging Flare’s native price oracle, the Flare Time Series Oracle, for decentralized asset prices. This integration ensures highly accurate and frequently updated price feeds, laying the foundation for a secure and responsive DeFi experience on the Flare network.

In addition, Kinetic plans to integrate FAssets developed by Flare Labs, enabling traditionally non-smart contract tokens like bitcoin (BTC), ripple (XRP), and dogecoin (DOGE) to actively participate in DeFi activities. This integration marks a significant step in bridging traditional cryptocurrencies with advanced DeFi functionalities, enriching the…