2600 people joined Flare’s October ecosystem call. During this event, we heard from two of our newest partners, Miguel Morel, CEO & Co-Founder of Arkham, and Giacomo “Jaack” Barbieri from Avascan. Together, we explored how these partnerships are bringing invaluable tools for Flare’s developers and users.
The event also featured a detailed AMA session with Hugo Philion, Co-founder & CEO of Flare, and John from Flare Community. If you missed it, we recommend listening to the recording or reading the highlights below.
Key topics covered:
- Flare’s partnership with Arkham: a powerful on-chain analytics suite.
- Flare’s partnership with Avascan: a new ecosystem explorer from the Avascan team
- Future collaboration ideas with both Arkham and Avascan.
- Community questions.
How You Can Benefit from Flare’s Integration into Arkham
Arkham is a blockchain analytics platform designed to provide transparency and detailed insights into blockchain wallets. It allows users to easily monitor wallets, from exchanges to trading firms, market makers, projects, and more. Arkham now supports 10 chains, including Flare. Miguel Morel, Arkham CEO, highlighted two main use cases:
1. Tracking and Understanding Wallet Activities:
Arkham’s first use case is for retail users, providing a user-friendly platform to track and analyze blockchain wallet activities.
It helps project managers and researchers identify insider investors, monitor staking activities, explore dormant wallets, and assess micro-ecosystems.
2. Raw Data Access for Developers and Engineers:
The second use case targets developers, engineers, and sophisticated users, offering direct access to raw blockchain data.
This enables in-depth analysis, custom reports, and a focus on metrics to understand user growth, ecosystem engagement, and potential partnerships.
In the near future, Arkham plans to extend its capabilities to include support for bridge integrations, providing a unified view for both sides of the bridge, allowing users to monitor these activities comprehensively. They look forward to offering that for Flare as well.
What Flarescan Brings to the Ecosystem
Avascan’s deep understanding of indexing P-chain data aligns perfectly with Flare’s infrastructure, making them the ideal third party to build an independent Flare explorer, Flarescan. Flarescan is now live with several features, including:
1. Unified Flare explorer:
This provides a unique, unified explorer for Flare, Songbird, Coston, and Coston 2 testnets. It streamlines the user and developer experience, eliminating the need to switch between multiple explorers. Individual explorers are also available.
- Flare Ecosystem Explorer (Flare & Songbird): https://flarescan.com/
- Flare Mainnet Explorer (Flare only): https://mainnet.flarescan.com
- Songbird Canary Explorer (Songbird only): https://songbird.flarescan.com
- Flare Testnet Ecosystem Explorer (Coston & Coston2): https://testnet.flarescan.com
- Coston Explorer (Coston only): https://coston.testnet.flarescan.com
- Coston2 Explorer (Coston2 only): https://coston2.testnet.flarescan.com
2. Unified API:
Flarescan offers a unified API with chain ID input, simplifying data retrieval across all Flare chains. It also provides Etherscan-compatible APIs for extended functionality.
The next step for Flarescan is to have full support for P-Chain. That will make it possible to browse all P-Chain blocks, blocks, UTXOs, and have access to Flare staking data, historical staking data, and validators’ uptime, further enhancing the comprehensive coverage of Flare’s ecosystem.
Community Questions
John from Flare Community aired questions collected from the community, and Hugo provided insightful responses. All questions asked received a FLR reward via Quidli on the Flare Discord channel.
1. FlareDrop and FLR Staking: Kwanele asked if users receive monthly FlareDrops when migrating to staking on the P-Chain. Hugo explained that in Flare Staking phase two, users’ P-Chain stake is mirrored onto the C-Chain, allowing them to claim FlareDrops as usual. He emphasized that staking on the P-chain is highly recommended, not only from a network perspective but also for potentially higher yields compared to staying on the C-Chain.
2. C-Chain and P-Chain Operation: John further clarified the process with Hugo. Staking involves transferring tokens from one chain to another, necessitating different RPCs, software, and APIs for the P-Chain compared to the C-Chain. It’s a more sophisticated process, so users are advised to start with small amounts and gradually increase their stake. Flare will release a user-friendly community tool to facilitate staking on the P-Chain.
3. Staking vs Delegating: Responding to a query from XRP Connoisseur, Hugo explained the main advantages of staking versus delegating. Staking offers higher yields and enhances network security, although it carries some risk and potential earning disruptions with unreliable validators. However, this approach is crucial for maintaining data quality and network security, aligning with Flare’s goal to build a valuable, secure ecosystem for dapps, developers, and users through community staking.
4. Flare’s real world use case: In response to a question from Bitcoin is Viagra about the real-world use cases for Flare using data and how it adds value to the network, Hugo highlighted several use cases:
- Web3 Data Transfer: Flare’s State Connector facilitates decentralized data transfer between blockchains, enhancing security by replacing centralized nodes in conventional bridges.
- DeFi and Beyond: Flare provides data for DeFi and extends to real-world assets like bonds, equities, and insurance, ensuring that blockchain-based settlements align with real-world legal requirements.
- Machine Learning Markets: It enables a marketplace for machine learning engineers to fine-tune models for various companies while ensuring trust and correctness through blockchain data attestations.
- Increased Liquidity: Flare addresses liquidity issues with real-world assets, enabling secure, blockchain-based trades. Regulatory approvals can be streamlined through verifiable data proofs.
What sets Flare apart from other data solutions are its trustless, decentralized operations for heightened security, impressive scalability for efficient data handling, and an easily adaptable system for integrating new data sources. This makes Flare a versatile solution for a wide range of real-world use cases.
5. FLR burn: Many users are curious about Flare’s recent announcement to burn 2.1 billion FLR tokens. This action benefits the community by offering them an extended stake in the network. The reduction in tokens aims to address the potential inequity caused by FIP.01, ensuring that investors ultimately receive the tokens they were originally meant to. Hugo mentioned, “I had to expend a lot of political capital with our investors to do this. It was not an easy process, but I think it is a net positive for the community. It keeps the network decentralized, meaning that there isn’t a central set that are just getting a very large amount of tokens. And that’s always been very important to me.”
The call featured more valuable questions from the community, which we encourage you to explore. Thank you to everyone who joined the October Ecosystem Call. We’re looking forward to the next one, so make sure you join our Discord and follow us on Twitter/X for updates.