Flare Teams Up with Ola Finance to Broaden its DeFi Offerings

[Pagla]

Flare has teamed up with Ola Finance to provide a broader range of DeFi solutions, including tailored lending networks. On Songbird, Flare’s canary network, Ola intends to create a loan network to deploy it on the mainnet eventually.

One of the company’s offerings is to provide its partners with loans as a service. The network is built using Ola Finance’s protocol; however, its partners become the owners once the network is implemented. Flare’s next-generation consensus, State Connector, and Flare Time Series Oracle enable it to interact with as many blockchains as possible, resulting in a robust cross-chain protocol that is genuinely decentralized, safe, and scalable.

Flare’s DeFi capabilities are expanding as a result of this relationship. Songbird and Flare-based projects will leverage Ola’s protocol to construct a lending network, making lending and borrowing services available to their customers.

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