tl;dr
Flare, an EVM-compatible blockchain, has launched Luminite, a seedless wallet that removes the need for seed phrases by using passkeys, biometrics, or email for setup. Built with Turnkey's technology, Luminite supports fiat on-ramps for purchasing FLR, XRP, and other tokens. The wallet aims to simpl...
Flare, the EVM-compatible interoperable blockchain, has introduced a groundbreaking product: a seedless wallet named Luminite. This wallet eliminates the traditional need for users to record and store seed phrases by allowing setup through familiar sign-in options such as passkeys, biometrics, or email. Developed with embedded wallet technology from Turnkey, Luminite supports adding funds via fiat on-ramps, enabling purchases of FLR, XRP, and other tokens.
Steve Chadwick, Co-founder of Luminite, emphasized that the wallet aims to bridge the gap between Web2 and Web3 users by removing complex entry barriers to the crypto space. This innovation is designed to make decentralized finance (DeFi) accessible not only to crypto-native individuals but also to newcomers discovering blockchain’s practical uses. Luminite also serves as a gateway to Flare’s burgeoning suite of DeFi protocols, allowing users to delegate FLR tokens to Flare Time Series Oracle (FTSO) providers, mint FXRP tokens through FAssets, swap tokens, bridge assets via Stargate, and participate in liquid staking by minting sFLR on Sceptre—all within the wallet interface.
In addition to product developments, Flare announced plans for a Learn & Earn program in partnership with Revolut. This initiative aims to educate and incentivize newcomers to engage with the Flare ecosystem through educational content paired with rewards for participation.
Since its launch on June 25, 2022, Flare has steadily grown its user base and ecosystem. After an initial observation phase where validators were managed by the Flare Foundation, a token generation event released approximately 12 billion FLR tokens, representing 15% of the total FLR supply, to the public. Over the year, FLR has experienced significant price appreciation, especially in July, while the blockchain has secured over $150 million in DeFi volume, demonstrating robust engagement and utilization in the decentralized finance landscape.