Flare (FLR) has been listed for spot trading on Hyperliquid, enabled through LayerZero’s Omnichain Fungible Token (OFT) standard, as per the reports shared with Finbold on September 17.
The integration allows users to deposit FLR via Stargate and trade it directly on the decentralized exchange, with the aim of simplifying access and improving efficiency.
A more efficient and simpler trading experience
Unlike wrapped assets, Hyperliquid has listed native FLR, removing the need for unwrapping and reducing transaction complexity for deposits and withdrawals.
The listing was permissionlessly enabled after Flare secured the FLR ticker, and bridging is facilitated through LayerZero, linking FLR to Hyperliquid’s HyperEVM and subsequently to the HIP-1 asset on HyperCore for spot trading.
Hyperliquid’s on-chain order book is designed to provide tight spreads, strong liquidity, and lower implicit costs for traders.
How does it work?
FLR has been deployed as a HIP-1 asset on HyperCore, with an FLR/USDC market registered. As Hyperliquid expands, the market is expected to migrate to include additional stablecoin pairs such as USDT0 and USDH.
Users can deposit FLR via Stargate, place orders on Hyperliquid’s on-chain orderbook, and withdraw back to the Flare mainnet at any time.
Funding and settlement options
Funding accounts can be done using USDT0 or FLR bridged from Flare, with assets transferred through Stargate to HyperCore or HyperEVM before being traded or returned to the Flare mainnet.
Once bridged back, users regain access to staking, delegation, and FlareDrops. Furthermore, assets can be moved across Hyperliquid and withdrawn at any time.
Featured image via Shutterstock.
Source: https://finbold.com/flares-flr-token-begins-spot-trading-on-hyperliquid-via-layerzeros-oft/
