StakeCore

Yesterday (26th), our Flare validator experienced a 3-hour downtime from 20:00–23:00 CET due to a misconfiguration during the validator's 1.12.1 update. The issue has been fully resolved, and safeguards are in place to prevent recurrence.

The Flaredev account has been compromised. Do not interact. Do not click any links.

With DAC8 requiring centralized exchanges to report EU user data to their national tax authorities, decentralized exchanges and bridges will become increasingly important. It's time to realize CEXs are not crypto, and start switching over to dapps, such as @FlareNetworks FAssets.

@Artemisfornow Crypto didn't change. Privately owned centralized exchanges that act as banks now need to report user data to the user's origin country like other banks already needed before. If you're using centralized exchanges to hold crypto, you're not really doing crypto anyway.

🚨WOAH … the media aren’t reporting this but it is extremely important. The EU has just ended crypto privacy following the UN global blueprint. And the UK, Australia, Japan, South Korea, Brazil, Singapore, the UAE, Canada and over 100 other countries have already agreed to roll out the same reporting rules. Even the US is negotiating alignment. On the 1st of Jan the DAC8 rules came into force across all EU states. From now on, every exchange must report your name, tax ID, wallet addresses, and full transaction history straight to your government. Even transfers from an exchange to your hardware wallet are logged and linked to you. So you can't hide. This ia all part of a global system designed by the unelected OECD, backed by the G20, and rooted in the UN’s Agenda 2030 goal of “full traceability of financial flows.” (SDG 16 if you're interested) This isnt about tax, this global law (that you didn't vote for) is about building a fully monitored digital financial architecture, the same system that CBDCs, Digital ID, and future “tokenised” markets will slot into. Crypto itself isn’t banned but private crypto is being wiped out. Not only didn’t you get to vote on it but they don’t even want you to notice that there is no such thing as financial privacy anymore 🚨

@tony_faber11 @FlareNetworks Although believing Firelight had weak audits should be a red flag for you. I only tracked the FAsset ones and am certain they're above industry standards.

Need a last-minute Christmas gift? Flare’s the gift that keeps on giving.

@tony_faber11 @FlareNetworks I'm not that familiar with Firelight but the main point of FAssets is to get tokens held only as price-based investment used in economic protocols that pay for that. And there are many on Flare yielding around 10% apy so losses of 0.3% should be acceptable.

@tony_faber11 @FlareNetworks Well most CEXs charge at least 0.5% on trades, with DEX swaps costing 0.3% on swaps. I suppose 0.3% for in-out was not considered problematic. Also, part of the fees goes into collateral pools incentivizing users to provide collateral, so there's an ecosystem relying on it.

@tony_faber11 @FlareNetworks FAssets were initially designed for more chains like BTC, which has high tx fees and spikes that need to be covered by the redemption fee percentage. That percentage needs to cover transferring 1 lot of underlying asset, so the value was chosen with worst-case scenario in mind

New cap unlocked: 20M fresh FXRP ready to mint - the ascent continues. The fire awakens anytime🔥 XRP utility keeps expanding - higher, broader, and on @FlareNetworks.

Another day, another cap raise!

FAssets are secure by design. • Robustly brought +$85M worth of XRP to @FlareNetworks. • Tested relentlessly on Coston & Songbird. • Audited by @coinspect & @zellic_io. • Monitored 24/7 by @HypernativeLabs — with layered, built-in safeguards. Now working with @immunefi to keep the bug bounties live — rewarding anyone who helps us identify potential vulnerabilities. Learn more 👇

3 hours, another 8.5 million FXRP minted. That brings us to $66M worth of XRP now DeFi-ready on @FlareNetworks.

@Pelvis_Presly @djACampos @FlareNetworks This is the minting bandwidth that the agents can collateralize for. It decreases with mintings and increases with redemptions and core vault transfers.

@stake_core @djACampos @FlareNetworks 23.92 plus 1.19 is 25 million, not 35. What am I missing

15M FXRP now open for minting. The largest single cap raise so far. fassets.au.cc/mint fasset.oracle-daemon.com/flare

@djACampos @FlareNetworks 20.76m is the current minted amount, the cap raised by 15M, meaning the current total minting cap is 35M.

@FlareNetworks Are you sure you didn’t pull a Pacos? Unles 14.5 mil is in queue math isn’t mathing

DROPS E17: @HugoPhilion Founder of @FlareNetworks: Bridging data and smart contracts across multiple blockchains. We dive deep into how Hugo is rethinking the very fabric of decentralized finance - from building a data layer that connects every major blockchain, to unlocking the untapped potential of XRP and Bitcoin, to his bold takes on fiat collapse, wealth inequality, and why true decentralization still matters more than ever. We talk about: - Building Flare as the "London of crypto" - a hub connecting XRP, Bitcoin, Dogecoin & more - Why XRP is massively underserved and misunderstood - Crypto as a tool to defend middle-class wealth against fiat decay - His prediction for Bitcoin hitting $500K–$1M long term - The future of decentralized, non-custodial yield on XRP And much more! Timestamps 0:00 - Introduction 1:37 - Welcome To Drops 2:15 - Wealth Tax In Singapore 4:44 - What Kevin Does Outside Podcasting 6:37 - How Are You Doing 9:05 - Thoughts On The UK 10:55 - Politicians In Democracies Thoughts 13:33 - How The UK Got Here 15:20 - Who Are You 16:04 - Something To Make Us Trust You 18:10 - Crypto & Blockchain A Big Deal 20:36 - Motivation To Erode Middle Class Wealth 23:55 - Using Crypto To Preserve Wealth 25:19 - Bitcoin Reaching $1 Million 26:15 - Housing And Real Estate Comparison 29:17 - What Is Flare Network 32:00 - Analogy To Explain Flare Network 34:38 - Why Focus On XRP 36:23 - Answer To XRP Being Questionable 39:08 - Biggest Strengths In XRP Ecosystem 42:19 - The Next Ecosystem To Work With 43:49 - XRP Staking Explained 47:15 - One Thing To Remember

@Charley57560508 @FlareNetworks If a hack happens you'll want the foundation to freeze the system. Freezing is limited to 24 hours though, you can check the code.

@FlareNetworks Go ahead. Keep on putting your XRP in there.. The self custody is a lie when Flare can freeze withdraws whenever they want. But keep putting your XRP in there and call me a Fudder. This should be fun to bring up later.

You keep minting. We keep raising the 🧢