Solflare to simplify accounts for Solana DeFi and NFT users in one app with FTX integration
Solflare, the Solana-native wallet Solflare, today released a key integration with cryptocurrency exchange FTX.com and FTX.us to simply portfolio management for Solana DeFi and NFT users. The new FTX integration lets users manage Solana CeFi and DeFi accounts in one app.
Users can now connect their FTX.com and FTX US accounts to Solflare, allowing them to manage their funds in the exchange directly from the Solflare web extension and later on via the mobile wallet. The integration aims to connect the world of Web2 and Web3 into one seamless interface, utilizing the rich FTX ecosystem to supplement Solflare’s Solana dApp experience.
Users can withdraw and deposit assets to their FTX accounts seamlessly. Depositing on FTX becomes a simple transfer transaction from Solflare and automates a previously manual process. For any token that is supported by the applicable FTX exchange, Solflare simply fetches the user’s deposit address and sends the desired amount of funds to it.
The reverse transaction is just as simple, as Solflare allows withdrawing assets from the exchange with one click. An even more useful integration is FTX Convert, which is a Solflare native function that allows users to easily swap tokens on the user’s FTX balance with other tokens, directly within the wallet.
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 integration seamlessly connects the two worlds and can result in important benefits for the Solana DeFi ecosystem. Connecting FTX to the user’s Solflare account “verifies” that wallet as a unique human being, relying on the KYC system for the appropriate exchange. This can make it very simple for Solana projects to work with Solflare and do things like efficiently 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.”
Solflare is a community-created wallet built specifically for Solana. Solflare supports sending and receiving native SOL tokens as well as sending and receiving SPL Tokens (Solana’s ERC-20 equivalent). Solflare also supports staking of SOL tokens, advanced NFT interactions, DeFi protocol usage, and many more advanced features like dApp notifications. The Solflare Mobile wallet is the first Solana-native mobile wallet with complete support for advanced DeFi, NFT, and staking interactions, as well as Ledger support.