- Flare has announced a partnership with Ola Finance.
- Ola Finance plans to launch a lending network on Songbird.
- The partnership is in support of Flare’s expanding DeFi ecosystem.
Blockchain network Flare has announced a partnership with Ola Finance. To support Flare’s expanding DeFi ecosystem, Ola Finance plans to launch a lending network on Songbird – Flare’s canary network. Ola also has future plans to deploy this lending network on the Flare mainnet.
Ola Finance’s lending networks will be prepared to support every token launched on Flare. This includes all F-Asset tokens such as XRP, DOGE, ALGO, and LTC. As a result, the platform would provide DeFi services to non-Turing complete tokens.
Flare CEO and Co-founder Hugo Philion expressed delight in how Ola’s services would attract more liquidity into the Flare ecosystem.
With TVL on Songbird reaching $120m in January, we are delighted that Ola’s lending-as-as-service solution is primed to attract even more liquidity into the Flare ecosystem. Their differentiator within DeFi lending which enables anyone to create their own branded lending network on Songbird & Flare should prove to be very powerful.
This partnership between Flare and Ola emphasizes Flare’s expanding suite of DeFi offerings. Users who build their projects on Songbird and Flare will have the ability to deploy a lending network through Ola’s protocol. As a result, these projects can offer lending/borrowing services to their users.
Ola Finance has a white-labeled, B2B approach to its lending protocol. Partners benefit from owning their own lending network. Additionally, partners also get customizability and a unique UI fit to their brand. Ola provides continuous maintenance and product development behind the scenes for their partners.
Flare is a network that integrates non-Turing complete blockchains with the Ethereum Virtual Machine (EVM). As a result, the network brings all kinds of assets into a smart contract-enabled ecosystem. Flare and its canary network Songbird upgrade popular tokens for the DeFi world.