On Thursday, Solana (SOL)-native wallet Solflare released a brand new integration with cryptocurrency exchange FTX.com and FTX.us to simplify portfolio management for Solana users. As relayed through Solflare, it might make transfers between a person’s custodial and non-custodial balances trivial by enabling users to handle FTX funds from their Solflare web extension and then through the mobile wallet. Obviously, FTX Know Your Customer (KYC) rules would still affect link a person’s exchange accounts with Solflare.
Additionally, token swap on FTX accounts inside the Solflare wallet wouldn’t be impacted by Solana’s infamous network congestions as liquidity is sourced from FTX rather of Solana. Though deposits and withdrawals to the Solana network can always be slow at occasions. The wallet supports FTX nonfungible tokens withdrawal, deposits, and visualization functionality.
For decentralized finance, or DeFi, users, the combination would improve Solflare’s capability to conduct coordinated airdrops along with other yield incentives. Filip Dragoslavic, co-founding father of Solflare, commented:
“FTX is most likely probably the most popular centralized exchanges for DeFi users, especially on Solana. Integrating the 2 connects all possible worlds where one can command your FTX account without departing Solflare. Confirming your bank account address is a unique human registered on FTX might enable new regulatory-compliant Web 3. possibilities.”
Solflare is really a community-produced wallet built particularly for Solana. The wallet enables for users to receive and send native SOL tokens in addition to receive and send Solana’s ERC-20 equivalent SPL tokens. Additionally, it supports staking of SOL tokens, advanced nonfungible token, or NFT, interactions, DeFi protocol usage, DApp notifications and Ledger hardware wallet support.
