I Tested SparkDEX on Flare – Here’s What You NEED to Know!

All right, guys. So, today we're talking about Spark DEX. That is the main decentralized exchange in the Flare ecosystem. The first video was all about Flare and the Flare dashboard, uh, minting your FXRP or staking your Flare tokens. Now, we're going to move a little bit further into the actual decentralized exchange and cover all of that stuff. Who's this gentleman behind me? This is Blues Guy as we know him in my community and he is very enthusiastic about the Flare ecosystem. He's deep diving and researching. He is a true undergrounder and I just want to continue to support his love for crypto and so we're doing these videos together. I hope you enjoy it and without any further delay, let's hop right into Spark Decks with Blues Guy. >> Oh yeah. Welcome in. Welcome in and welcome to Flare

Network video. Today we are going straight to the sauce because Flare Network is a monster in the making. And today we are going to talk about Spartex. Spartex is a deck. And if you followed the channel before, we talked about how Flare Network is connected to many, many, many projects. Not >> that's going to take you to the website now. Oh my goodness. Now you're going to click launch the app. And then you got have the two layer security. Yeah. And now you're connected. Now, this is the main dashboard here, Spark Decks. Remember, >> and stop right there. I need you to smash that like button. Hit subscribe if you love this kind of content. If you love what Blues Guy is doing, we're going to be putting one of these videos out every other day until we run

out of Flare Ecosystem content. Now, we go live at 8:30 p.m. New York time, Monday through Friday, and our mission is to raise people's crypto IQ. But, of course, we play some DeFi games. We hang out with the community. We have a lot of fun. There's a lot of information packed into those lives. And let's continue with that Spark Dex deep dive. >> Remember we were at the beginning here and we clicked and we connect here. First thing we want to look at is swap. Oh my goodness. Because swap allows you not only to swap from Flare to FXRP, but also Rap Flare. There's all the tokens in imaginable uh that are associated with uh flare network and of course we are on spark deck so we'll be the spark deck token here. All right. So, if you look

at swapping here, okay, let's go right into the sauce swapping. Now, for example, if you come here and you don't have flare token, you can come here and utilize your flare token and swap it. I'm not connected. Swap it with rap flare or swap it with FXRP. So, you don't need to actually own XRP to utilize the website and you can actually just swap your flare to a minimum minimum cost. which is fantastic and amazing because not only that, but then you can go with the other token that allow you to have access to the farming and the yielding and earning some money that you probably didn't have no idea. It's amazing. So, not only you can earn money onto your flare network by adding to the liquidity pool, remember on the first video and also by uh minting

your F uh with your XRP becoming FXRP, which is a wrap version of XRP that it's on the ledger because now your XRP is stored on the escrow. We talked about that. Now we're here on the dashboard of the swap and it's basically very simple the market you can the market price right and then you just swap from one to another. Let me do it for you. Let me try to connect. Remember we are in Canada and in Canada as Eugi says there's not enough internet for all Canadian here. So that's why I have a lot of lagging and sometimes it doesn't connect right away. Try right now and then it's going to be it. So hypothetically now you see it's not working right now. So, let's just close that. And let's hypothetically said that we did it. Um,

so basically, you're wrapping uh your uh swapping your any token that you want because you already know which one you want to farm. Okay, we're going to go back there anyway. Okay, I it it connected. So, let's see here. Okay, let's say these are two button that it's very very useful because now you can just go with the max so you know already how much you have and then just go half and then you can just change the amount for the amount you want. So, let's go with nine. Okay, because I love the number nine. 369. And let's go with uh let's go with okay, we didn't have any uh XRP. So, we want to have XRP. So, we're going to wrap are we going to convert our flare into XRP. And you look at the bottom here, give

the detail. All right. So, let's just click here. So, you're going to have two layers. You're going to have to confirm on this app. And then right here, you're not going to see it, but my MetaMask little foxy guy, it's going to appear right here. And uh it will um I will have to confirm it will have to confirm uh the transaction another time. So it's a two layer of security which is kind of cool. All right. So now we're swapping and that's it. I'm just waiting for the confirmation. You're probably going to hear that and that will be it. Now uh this is very nice because it's been added on later. Okay. So this you could swap uh at an interval of minutes and time. So let's say for example you're in a bull run and you want

to swap your you know that okay for example stable coins okay for the people that no idea about stable coin or are not a big fan this is where it's useful for us little guys okay so USDT or USDTO okay so you swap that for that with the token that you want you think that it's going to pump so when it pump and you think it's going to drop back down uh at a certain time because you know it's like it's going to come in within time well you could check you could uh set up the minute and time now this one here is for limit orders so So, you can actually set the time, not the time, but the the days. And if you think it's going to reach a price and then it's going to come back

down, you can swap it back into uh a uh stable coin and then you're making money because it's come back down. Freaking amazing. That's why I love Flare because you know what? Flare is a monster in the making, guys. And you know it, right? Shout out to UG and this channel because is bringing you the sauce and the latest uh crypto project. It's amazing. So, right now, let's go back uh into uh the spark decks. And the next tab here is perpetual. Love it. Hopefully, I'm in a couple of trades and I'm going to explain you that very, very quickly. And it's very simple. What I love about it is that you can use your collateral, any collateral you have onto your uh system. Let's say for example, you have Sflare, right? You all know what Snake Flare is?

It's from Spectre. Uh Spec uh Spectre uh Scepter, sorry. Yeah. And uh yeah, so let's say for example, you want to use FXRP, right? Because that's what we want. But you win FXRP anyway. So let's get right into it. Here you have the token available right now. Okay. Polygon, Soul, Suie, Atom, BNB, Bitcoin, OP, Litecoin, Avac, XRP, AI, XLM, Link, Ethereum, Arbitum, Polka Dot, Dodge, X, Edgear, and UniS swap. All those tokens are available and you're actually betting into let's say half four uh and then you know you have your leverage here and you have your stop loss and profit just like a normal exchange but it's safe and it's liquidation pro liquidation proof because it allows you just to sold solely bet on your token as if you were doing um isolated uh and it's amazing. So now

I'm in for trade. I entered long and with ET at 559 uh 599 long uh X and you see I only bet Collateral 8 FXRP. Remember if you bet something else you're going to win the same as you bet and it allows you to bet any coins you have which is amazing. I love it. This is why Flare is beautiful guys. This is why I take time to show you and this is why underground crypto is taking the time make me show you that because it's awesome. So that's what it is. Okay, you want to close the trade you just go here. It's going to confirm. I'm going show you. Bing bang. I'm not going to close because it's going to confirm anyway to enter the amount and then voila. All right. So, this is perpetual. Very simple, very

straightforward. Much much love this. All right. Now, we go to pools. Pools is associated with farm. Okay. Pool will give you the pool the farming that you're doing. And these are the places, but this is all in V3. That's like completed. So, you don't have to worry about these guys here. And this single deposit, dual deposit is always better because you earn the loan both. So, you take always that one. That one don't even look at it. Okay? Don't even look at it. [snorts] Don't mention his name. So here you got all the coins available for you to uh and remember they add on every single day. This is what I'm actually farming. Okay. So adding into the liquidity pool means that you're using let's say for example rap flare. Uh how do you rap flare? Well, you just

take your coin and you wrap it, right? And it becomes rap flare and then you can utilize them over any other blockchain as well. So flare XRP and rap flare. Let me show you what it is, okay? Because it's all linked together with this right here. Farm. Let's go to form first. I want to show you how we do it. Actually, claimable reward $154. And if you click view here, it's going to tell you exactly what it is, right? So, RF LR Pico um Pico is actually a uh it's previously from the Fortuna token and it's transition from songird to flare, right? It's actually uh what it is rap flare. And then you have uh USDTX. And then you have Bugo. Bugle is a community token on Flare uh meme actually and it's with a fixed supply and with

a burn liquidity. So it's deflationary. Oh, I said it well this time. So you see I have pending uh money here. It's amazing, right? And then spark also have pending. That's only the deposit for this farming right here. Okay. So these are right here. So this is all what's available for farming on spark deck. Okay. So if you come here uh SLR it's the scepter liquid staking on flare right. Uh it's the rap flare what it is. Uh Juul is the native token of kinetic rap flare and then you have bugo we just talked about it USDTO spark token uh from spark decks uh rap eat and rap flare. And you see here you go the percentage and yield with if you leave your cursor on and it gives you with a percentage. Not only that, but then if

you go to view let's say for example you go to view and jewel. Now if you click on liquidity it's going to show you the ones that actually have money in it. So you see here I have money in rap flare and FXRP. If you look at the APR here the fees are 16.49. There are flare reward or 15.18%. Flare drop is because the last flare drop is coming this at the end of the month and delegation. now. And then if you go view, there are many different pool managers, but always choose the one that I gave you a daily reward. Normally, it's the one that gives you the higher percentage as well because normally the people, this is where he's going to jump to that pool. It's not water, it's warm, right? So, and you look at here,

how do you know to choose that? Remember that number? Because we're going to go back there. I want to show you what it looks like when you choose it into the pool. 0.005% fee will give you that one right here. Okay? It says manage or ad because I already have some. If you click on manage, it's going to take you back to a little square screen here. Remember my internet is a little slow because I'm streaming right now. And now you have the addresses and you have what you have actually unclaimed fees, right? I just started that today. So just for the sake of this video and know I already have this amount and that's what you automatically. If you click lock, you are locking them and then you earn more yield. Again, have the percentages and everything on

what's going on. All right, pretty cool. add withdraw the click of a button. It's amazing. It's fast and furious. This is why Flare Network is a what, guys? Is a monster in the making. Oh yeah, >> it's the blues, baby. >> Oh yeah, it's the blues, baby. I have to do it. Got to do it. So this is that was farming right here. Okay, guys. So this is what you get to come and choose from. So let's finish what we have here. So you see you have spark wrap eat uh sflr wrap flare and then you go back all the way down to st xrp and fxrp with all the percentage and everything. Now, if you want to go and claim there and and you do go from here and then add them directly to it, right? And that's

going to take you directly to this one, right? This uh 1% fee. See, manage. Now, if I go back here and you're at liquidity pool page, I think it's the second tab, right? Uh right, the third tab. This one right here. Now, this hypothetically, if you don't have anything, it's empty here. So, to enter a tool, you come here and you click on the one that we wanted to choose and then we haven't chosen yet. So, let's go back here. Let's go to farm and let's pick someone. Actually, you know what? Let's just go with uh Okay, rap. Okay, so you come here and then you just click on it and it takes you back to pool and then you can do your wrapping here. S flare. Yeah. And the wrapping normally come here 100%. And come here. That's

the range. Okay. We'll close your trade if it's going if the difference between those two is too high. So you don't lose money. It's amazing. It's like just working for you guys. It's not like trying to take the money. Actually, it's trying to make you make money. This is why flare is so beautiful. It's my baby, guys. It's it's a monster in the making. And you know it. So that's what it is. And then you just click and approve see the amount let's say five and it's going to pick that add to liquidity confirm then my MetaMask or whichever wallet you connect it to confirm that it's actually you want to do that and no I'm just waiting because you know and I need a sip of coffee. So that's what it is. So spark deck is very important

to know that because it allows you to generate yield on a lot of things on staking on adding to the liquidity pool on swapping uh perpetual um you know and also uh I think there's a few other one uh top of my head there I'm just waiting. Okay, so let's say the key we did it now. Okay, good. So it's swap access. So you want to come back and do it again, you just manage and then you withdraw it. That simple as that. Now, uh, Launchpad, uh, it's not launched yet, but let's take a look here. And you could subscribe and everything and, uh, it seemed to be pretty cool. Let's wait for the page to open, but yeah, get exclusive, uh, early access. So, you connect your wallet and um, and then there's lottery, there's prizes to win.

Uh, it's pretty cool, actually. It's fun. So that's what it is. Now if you go to ecosystem, that's pretty new, but I had a peek at it and uh basically uh you could delegate uh to the FPSO and basically what it does is it generates uh more healing like you see here. Um I already delegated and I can claim the amount uh possible. So you just claim a word. It's going to ask you to confirm, right? And you can undelegate or you can redlegate. It's very simple. And then you can add to with the flare that you have. It's awesome. I love it. Beautiful. And then the flare rewards. And it gives you the flare unclaimed flare. See, I have 19 or flare unclaimed. And then your go back down and not anything in there yet for flare drops.

Now staking your X park. Well, what is X Park is within the ecosystem. There's another ecosystem which is amazing. a galaxy within the galaxy and what you're doing is basically you can earn dividend convert it uh the next epoch is by 14 days I believe uh and you see I'm already in the pool I can claim right now you see when I'm dividends uh that's why I'm winning right now um by adding to it you just allocate or deallocate simple okay um if you go here all you do is like convert your spark into x spark here so let's say do I have sparks no it's all in here Um, and then once you have your spark spark, you come here and you see here I have 1,983 that are besting right now in a period of 14 at

15 days. There's three days left, 17 hour and 45 49 minute and I'm going to win something and I don't know what it is, which is kind of cool. Uh, and then once I win, it's going to be an amount of X Spark and I'm going to redeem it back in Spark and then I can redeem it back in any token that I want. It's amazing guys. Okay, tell me that it's not amazing. So that is why flare is a monster in the making. All right. So that is it. Convert. Now you can convert it back and forth, right? And claim your investing. And the last but not least, uh governance. It's not there yet. But yeah, that is Spark token Dex with Flare Network. Flare Network, my friend, is a monster in the making and you know it,

right? Flare network is blockchain for data. and it has built an oracle powerful for data intensive use. So with flare VM compatible layer one blockchain you know specifically uh unlocking you use this case for asset like XRP is just amazing. So it's bridging it's going to bridge every single chain. So that's it from me. That's blue sky for you and underground channel. Stay underground, stay crypto, stay grateful because gratitude is what brings everything together, my friends. >> Hey, what's your favorite color, man? It's the blues, baby. >> Stay tuned for more updates. Please like and share, subscribe, and enjoy the Discord at Underground Crypto where you're going to find an amazing community. You're going to find people with knowledge and we are family. Every single day your gener crypto is live and bringing you the latest crypto news. >>

Welcome this morning. Banging and yelling. >> Stay crypto. Love the blues.