While Flare Network is a new name to many, the network has been building partnerships in the public and behind the scenes for years.
Flare Network recently distributed its token (FLR) to eligible recipients based on a snapshot of the XRP Ledger taken December 2020. Since Flare’s first public announcement several months before the snapshot, several partnerships with industry leading companies have been announced.
Early Partnerships
Prior to the XRP Ledger snapshot, Ripple, a crypto and payments focused tech company which utilizes XRP in their On Demand Liquidity Payment Product, announced an an investment in Flare Network, describing it as an investment in smart contracts. In the announcement, Ripple highlighted some of Flare’s early partners including: Singularity Finance, a financial service ecosystem integrating AI and crypto, and Securitize, a digital asset security firm unlocking broader access to alternative investments including digital asset securities, tokenized stocks, tokenized credit rates and tokenized debt.
Flare Network has also partnered with Towo Labs, a software engineering company. Towo Labs runs servers and provides access to faucets and nodes as infrastructure support for the blockchain industry. In partnership with Flare, Towo Labs designed and deployed the Bifrost Wallet, a web3 enabled digital asset wallet designed to create a user friendly experience while supporting Songbird and Flare. Additionally, Bifrost supports a variety of other digital assets which may be used in dApps built on Flare.
Infrastructure Partners
Prior to the Flare Network Token Distribution Event, Flare announced partnerships with three blockchain companies. Flare stated that the three companies would run infrastructure on the network during the 3–6 month beta phase. These partnerships allowed Flare to launch as a decentralized network, with Flare controlling less than 30% of the network at launch. Additionally, these industry partners will provide enterprise grade reliability and network security as Flare launches and tests additional protocols. At this time, Flare has stated that the network influence of the industry partners will be phased out as additional validators are onboarded during the network’s beta phase. The three industry partners are:
- Block Daemon, an infrastructure company focused on scalable node management
- Figment, a blockchain infrastructure company providing staking solutions for over 60 protocols to over 200 institutional clients
- Into The Block, a data science company integrating AI to deliver high quality crypto data to markets
Additional Partnerships
In 2021, Flare Network announced a partnership with The Global Esports Federation. At the time of the announcement, Global Esports Federation Board Member, Adrian F Lismore stated, “Our global community has asked us to lead the way and provide the guidance, framework, and integrity measures appropriate to enhance their trust. This global partnership with Flare Networks will help the GEF, our Members and Partners, light the way for our community to engage with blockchain.” See full announcement here.
Following the network’s launch, Flare also announced a partnership with FYEO, a blockchain security company. Flare states FYEO will perform continuous and regular audits of the network. Read the announcement.
Overall, Flare Network has entered into multiple partnerships in the crypto, finance, data and technology sectors, balancing enterprise and community involvement. In addition, many additional projects have already been deployed on Flare Network and many more organizations have announced plans to integrate with Flare Network.
A discussion of the various projects and organizations building on Flare Network can be found here.
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