Flare Finance, the first DeFi platform on the Flare Network has successfully completed the airdrop of $EXFI tokens. The $EXFI tokens were airdropped to all the holders of $SGB and $WSGB across supported exchanges and wallets. 40 million $EXFI were successfully airdropped to all the holders.
The Experimental Finance (ExFi) platform was released on the Songbird Network, the Canary Network for Flare. The ExFi platform received a huge response from the community and achieved over $40 million in TVL within 30 days of launch. In a short span of a few weeks, the ExFi platform has already seen 170K unique users on the platform.
The snapshot for $EXFI tokens was completed on Dec. 12th, 2021, at 1 PM EST. The total supply of the token is 110 million out of which 40 million were airdropped. The EXFI token will have multiple use cases on the platform. It will be used as a fee replacement token on FlareX. Users could also use it to farm $SFIN on FlareFarm and create $CAND to farm even higher amounts of $SFIN. $EXFI will be available on FlareLoans in the early week of February.
Flare Finance has so far only released just three of seven products to be launched on the ExFi platform. Once the other 4 products are launched, even more utility will be available. Users will be able to use $EXFI for purchasing NFTs on the FlareDrop platform. $EXFI holders will also have the opportunity to vote on Flare Governance and be in a unique position to impact changes on the platform.
The trading of $EXFI token is expected to begin across various exchanges from Jan 6th, 2022. Some of the exchanges that have announced support for airdrop and exchange listing include Bitrue, CoinTiger, EXMO, Coinone, and CEX.io. More exchange listings are expected to be announced in the coming days.
Users would be able to trade $EXFI using FlareX on the Experimental Finance platform in the coming days. Users can also store their $EXFI on D’ Cent Wallet and Bifrost Wallet since both companies have already announced support for $EXFI tokens. Flare Finance will also release a Halborn Audit in the next few days along with internal audits from TrailOfBits and CertiK.
Flare Finance is institutional-grade decentralized finance harnessing the true potential of the Flare Network. Flare Finance will launch seven products – FlareX, FlareWrap, FlareFarm, FlareMine, FlareLoans, FlareMutual, and FlareDrop on the ExFi platform and the Mainnet platform.
Flare Finance has already announced support for XRP, XLM, LTC, DOGE, as S-Assets and XDC, LGCY, CSC, and PAC as X-Assets on the Experimental Finance platform. Flare Finance has a strong community with nearly 100K followers on just Twitter. As more projects get added to the platform, the number of unique users is expected to multiply exponentially.
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