Solana-native wallet SolFlare integrates with FTX.com and FTX US
SolFlare, the popular wallet built for the Solana blockchain, has unveiled a key integration with Sam Bankman-Fried’s crypto exchanges to simplify portfolio management for Solana DeFi and NFT users.
Thanks to its collaboration with FTX.com and FTX US, SolFlare users can now connect their exchange accounts and manage funds directly from the wallet’s web extension and later on via the mobile wallet.
Solflare is a full-featured crypto wallet, available both on web and as an extension, for Solana and SPL tokens. It allows you to send, receive and securely store tokens on the Solana blockchain, and also provides access to decentralized applications on Solana.
The integration is said to help connect the world of Web2 and Web3 into one interface, utilizing the FTX ecosystem to supplement Solflare’s dApp experience. Notably, it also automates a previously manual process of depositing and withdrawing assets to and from FTX accounts.
The team explained that for tokens supported by any of FTX exchanges, Solflare fetches the user’s deposit address and sends the desired amount of funds to it. The non-custodial digital wallet is reportedly responsible for more than 20% of all staking of the circulating SOL token.
“The integration can be used to supplement Raydium/Serum liquidity with the deep books of FTX via a seamless three-click process from the Solflare app. Solflare also supports FTX NFTs with full withdrawal, deposit and visualization functionality,” the company further explains
Per the announcement, an even more useful integration is FTX Convert, which is a Solflare native function that allows users to swap tokens on the user’s FTX balance with other tokens, directly within the wallet.
Despite the rapid growth of the crypto industry, it is hard to come by mobile crypto wallets with support for DeFi protocols and NFTs outside of the Ethereum ecosystem. As such, connecting FTX to the user’s Solflare account simplifies the process for Solana projects to do things like target airdrops and other incentive mechanisms for its DeFi users.
“FTX is probably one of the most popular centralized exchanges for DeFi users, especially on Solana,” said Filip Dragoslavic, co-founder of Solflare. “Integrating the two connects both worlds and turns it all into one seamless experience. You can command your FTX account without ever leaving Solflare, and confirming that your wallet address is indeed one unique human registered on FTX might enable many, new web3 opportunities.”