AllianceBlock Partners with Flare Network to Deploy DEX Testnet, Fundrs MVP, Compliance Framework and More

AllianceBlock
Nov 1, 2021 · 5 min read

AllianceBlock DEX and Fundrs, facilitated by our chain-agnostic interoperability bridge, will be deployed to Songbird, Flare’s canary network. With the planned integration of our Regulatory and Compliance Layer plus our Liquidity Mining as a Service ‘LMaaS’ solution, we will help invite new institutional and retail liquidity flows to the Flare ecosystem.

We’re delighted to announce a ground breaking partnership with Flare. Flare’s suite of protocols unleashes new paradigms of possibility for the crypto ecosystem. Its technology brings Turing-complete smart contracts to all native layer 1 blockchains, starting with XRP, Dogecoin, Bitcoin, Algorand and Stellar Lumens. Flare is also a data rich decentralized oracle network as well as a truly decentralized non-custodial bridge to all blockchains. This enables the X-chain liquidity protocol to thrive whilst solving the multi-sig issue currently plaguing DeFi and concerning regulators.

Our approach for seamlessly bridging capital flows from traditional finance into DeFi is strongly aligned with Flare’s mission. On top of this, we have considerable overlap between our missions to build a more global and participatory economy, connecting the traditional and decentralized worlds. Below are the details for what the partnership entails on the tech integration side.

Integration between AllianceBlock Bridge and Songbird

Deployment of AllianceBlock DEX on Songbird

Introduction of Fundrs MVP on Songbird

Integration of AllianceBlock’s Compliance and Regulatory Framework Invites New Liquidity to Flare

Together, these services will deliver a full, end-to-end decentralized financial infrastructure for users of AllianceBlock and Flare Network. Furthermore, these services can be delivered and provisioned to Flare’s users as part of their layer 1. All systems and applications building on top of Flare Network will be able to enjoy these integrations with AllianceBlock’s services. Flare ​is a fast, truly decentralized, trustless, and low carbon blockchain. This is an important part of our commitment to ESG initiatives and helping to push toward the development of a more sustainable DeFi industry.

Here’s what our Co-Founder and CEO, Rachid Ajaja, had to say:

“Here at AllianceBlock, we’re set on consistently building relationships with the most prominent blockchains in the industry and offering them solutions that can benefit not only their ecosystems, but the entire industry. This partnership is special for a variety of reasons, but I’m most excited for the deployment of our long-awaited DEX on Songbird, a scalable, low-carbon blockchain focussed on growing the DeFi industry in a sustainable, future-focused way.”

Flare’s Co-Founder and CEO, Hugo Philion, said:

“The Flare ecosystem is being built to “Unlock the Value” inherent in the 65% of blockchains that do not have native smart contracts by bringing, for the first time, true trustless usage of those tokens with scalable smart contracts. Flare’s Canary network, Songbird, has demonstrated phenomenal growth, having only existed for 6 weeks, it has already processed over 1.5M blocks and registered over 200K addresses. Communities that have previously been locked out of the smart contract revolution are now actively contributing to the space. Now with this exciting partnership and the integration by AllianceBlock onto Songbird, the Flare ecosystem gets to help unlock the value in Traditional Finance by enabling it to access Decentralised Finance. AllianceBlock are taking a big leap forward for the entire space and we are delighted that they have chosen to engage with Songbird and the Flare ecosystem and we welcome them to the community.”

About Flare

About AllianceBlock

Building this future by bridging traditional finance with compliant, data-driven access to new decentralized markets, DeFi projects and ecosystem-scaling tools such as funding and interoperability. As such, they are building a next-generation financial infrastructure that aims to provide regulated financial entities around the world with the tools they need to seamlessly access the DeFi space.

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