Flare Introduces Its New High-Yield ETH Liquid Staking Token, flrETH
In Brief
Flare launches a liquid Ethereum staking solution, flrETH, enabling DeFi innovation while allowing users to maintain ownership of their ETH.
Blockchain platform focused on data solutions, Flare announced the launch of flrETH, a liquid Ethereum staking solution. This marks the first instance of Ethereum liquid staking on Flare, enabling decentralized finance (DeFi) innovation while allowing users to maintain ownership of their ETH.
Developed by Dinero, flrETH allows users to earn ETH staking yields on Flare while retaining liquidity and participating in Flare’s DeFi ecosystem to access additional rewards. This innovation enables users to earn ETH staking rewards and explore other opportunities with their liquid staking tokens.
Users who bridge their ETH to Flare as flrETH can start earning a 7% APR, with flrETH also being easily swapped for WETH on SparkDEX. The launch of flrETH aligns with the expansion of Flare’s DeFi ecosystem. In the program’s first quarter, the Flare Emissions Committee released 60 million of the 510 million approved rFLR (reward FLR), contributing to a 50% increase in total value locked (TVL) within Flare’s DeFi space. This launch is expected to enhance yield-earning opportunities while increasing the network’s overall liquidity, thus improving the trading experience for all users.
flрETH employs Dinero’s high-yield pxETH liquid staking solution on the Ethereum mainnet. Thanks to the dual-token design of pxETH and apxETH, it offers ETH staking yields that can be 2-3 times higher than other liquid staking options, making it an appealing choice for supporting flrETH. Additionally, users can stake ETH that has already been bridged directly into flrETH via the flrETH decentralized application (dApp).
flrETH Launch To Bolster New DeFi LST Products On Flare
The introduction of flrETH is expected to pave the way for new DeFi products on Flare centered around this liquid staking token. This includes SparkDEX, which will create flrETH liquidity pools incentivized by Flare’s DeFi Emission Program, and there is potential for flrETH to be incorporated into Flare’s FAsset collateral composition.
Liquid staking has emerged as the largest DeFi vertical by total value locked (TVL), facilitating greater liquidity for Layer 1 and Layer 2 blockchains. This has led to the creation of new use cases, including restaking while supporting DeFi protocols that utilize liquid staking tokens (LSTs) to generate additional yields. The launch of flrETH will bring ETH liquid staking to Flare, further expanding its DeFi offerings and yield potential.
Flare positions itself as a blockchain tailored for data, functioning as an Ethereum virtual machine (EVM) smart contract platform created to support data-intensive applications, such as machine learning, AI, real-world asset (RWA) tokenization, gaming, and social interactions.
Recently, Flare introduced Blockchain Machine Images, a product designed to enhance global blockchain development through the Google Cloud Marketplace. This launch allows Web3 developers to efficiently establish a complete blockchain node in just minutes and at a lower cost.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
