Monday, July 22, 2024

By integrating FTX, Solflare will enable users to manage Solana CeFi and DeFi accounts.

Solflare, a native wallet offered by Solana has introduced a new feature. It has integrated with FTX.com, a crypto exchange which makes portfolio management for its users very simple. Per information released by Solana, this facilitates easy transfers for users between their custodial and other balances. They can move funds easily via the web extension and eventually from their mobile wallets. FTX’s KYC rules will still be applied so that users can link their exchange accounts to Solflare.

Additionally, token swaps from any FTX account within a Solflare account will work quite seamlessly. The hope it that these transactions will not be impacted by the infamous congestion on Solana’s networks. This is based on the fact that the sourced liquidity will take place via FTX and not Solana. Users should expect withdrawals and deposit activities to still be slow on the Solana network. FTX NFT withdrawals and other activities will be supported by the wallet.

This integration is expected to improve Solflare’s activities for DeFi users to make it easier for coordinated airdrop activities etc. According to a statement made by Solflare’s co-founder Filip Dragoslavic, FTX is easily among the most popular DeFi exchanges. By integrating FTX with Solflare, users can now access their FTX account right from the Solflare platform.

The Soulflare wallet was created by the native community especially for Solana. It permits users to send as well as receive SOL tokens and ERC-20 tokens too. It offers a lot of other features like staking SOL tokens, advanced NFT, DApp notifications etc.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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