Solflare Integrates FTX for a one-in-all CeFi and DeFi portfolio management App

on Jul 7, 2022
  • Solflare has released a key integration with FTX US and
  • The integration aims at simplifying portfolio management for Solana NFT and DeFi users.
  • Users will be able to connect and FTX US accounts to Solflare.

Solflare, the Solana-native wallet, announced its integration with and FTX US to simplify portfolio management for Solana NFT and DeFi users.

Following the integration, Solflare users will be able to connect and FTX US accounts to Solflare to manage their funds through a single App. At the moment, users will only be able to manage funds from Solflare’s web extension although Solflare is working on allowing the same through their mobile wallet.

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The integration is geared toward bringing Web2 and Web3 into a single seamless interface while leveraging the rich FTX ecosystem to complement Solflare’s Solana DApp experience.

Benefits of Solflare FTX integration

Following the integration, Solflare users will be able to deposit or withdraw assets to their FTX accounts seamlessly. Most importantly depositing funds from Solflare automates a rather manual process.

Solflare users will be able to deposit any of the tokens supported by the FTX exchange. The same applies to withdrawals. Users will be able to withdraw funds with one click.

Another benefit is the FTX Convert, which is a Solflare native feature that allows users to swap tokens on FTX balance with other tokens directly within their wallets.

The integration will also be a great plus for the Raydium/Serum liquidity since it can be used to supplement this with the deep books of FTX through the seamless three-click process on the Solflare App.

The integration will also allow Solflare to support FTX NFTs with the full deposit, visualization, and withdrawal functionality.

In a nutshell, the integration connects the world of FTX to that of Solflare, which is generally part of Solana’s ecosystem.

Commenting about the integration, the co-founder of Solflare, Filip Dragoslavic, said:

“FTX is probably one of the most popular centralized exchanges for DeFi users, especially on Solana. 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.”

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