Flare Blockchain Integrates TrustSwap for Seamless Token Management and IDOs

Flare, the popular blockchain aimed at improving data efficiency, is announcing an integration with TrustSwap – a leading launchpad, as well as Team Finance, which is a token management platform.

Big Names In The Industry Join Forces

According to a press release shared with CryptoPotato, the partnership will bootstrap a new chapter for developers on Flare. They will be able to raise capital, manage token logistics, and even reach new communities through the fundrasing tools provided by TrustSwap.

The first project to launch from the alliance will be the native decentralized exchange (DEX) and DeFi platform on Flare – SparkDEX. This will happen through its anticipated SPRK token IDO (Initial DEX Offering).

SPRK will serve as both the governance and utility token for SparkDEX. The decentralized exchange has seen steady growth this year, climbing from a Total Value Locked (TVL) of $25 million at the beginning of May to over $100M in TVL at the time of writing, as per data from DefiLlama

Max Luck, the Head of Ecosystem at Flare, had the following to say about the merger:

“We’re thrilled to bring TrustSwap and Team Finance into the Flare ecosystem. By partnering with a trusted platform that has successfully supported over 100 public launches and raised more than $100 million, we’re giving builders and users on Flare access to one of the most reputable token launch infrastructures in Web3.”

The Flare blockchain is a full-stack Layer-1 (L1) solution designed for data-intensive use cases. It is currently the only EVM-compatible chain optimized for creating intelligent decentralized applications (DApps) that integrate DeFi, AI, and traditional finance (TradFi).

The network is supported by two protocols: the State Connector, which enables the use of external blockchain data, and the Flare Time Series Oracle (FTSO), which serves as a source of reliable off-chain data for use on the network.

TrustSwap is a launchpad that provides DeFi tools for token holders and businesses to buy, trade, create, and secure crypto assets with confidence, boasting the aforementioned track record. At the time of printing, over 30,000 projects are currently utilizing the protocol, and it is now live on the Flare blockchain.

Team Finance is the launch platform’s token management suite, already embedded into SparkDEX, providing a stable backend for tokens on Flare. They also offer self-service minting of tokens, liquidity/token locks, vesting schedules, and multisending for token distribution.

The three-company conglomerate will also receive support from The Crypto App, a known portfolio tracker and news hub for Web3.

Alongside it, liquidity will be provided by the Amplifi Fund, with automated management to support DEX trading volume for future token launches.