Flare Network #TVL Surges 160% Following #USDT0 Launch


Flare Network's total value locked (TVL) has surged by over 160% in just 10 days, climbing from $45 million to $120 million since April 28.


This dramatic growth coincides with the launch of USDT0, an omnichain version of Tether's #stablecoin built on #LayerZero's technology.


The network's rapid expansion is largely driven by the USDT0 Boost program offering up to 30% APY in rFLR tokens for users providing liquidity on DEXs like SparkDEX and Kinetic.


USDT0 fills a critical gap on $FLR, as major #stablecoin issuers don't natively issue on the network, with approximately $65 million in supply and 6,300 users.


While backed 1:1 by #Tether's reserves, USDT0 is managed by Everdawn Labs and enables transfers across major blockchains without traditional bridges or wrapped tokens.

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May 08, 2025 at 10:53 AM
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