Flare Labs

Today we have kicked off a private Beta for #FAssets on the Coston testnet. This is a big step towards being able to mint BTC, XRP & DOGE into FAssets on @FlareNetworks, where they can earn yield in DeFi and be bridged to other chains. Learn more: flare.network/beta-testing-o…

The Core Vault in FAssets v1.1 helps agents and users optimize liquidity, accelerating market adoption while ensuring security. Here’s how it works: I. What is the Core Vault? The Core Vault is a dedicated vault address on the XRP Ledger that facilitates efficient liquidity management. ✅ Agents can transfer $XRP to the Core Vault → Free up $FLR collateral to mint further FAssets or adjust their collateral usage. II. Daily Operations Each day, agents can deposit funds in the vault and users and agents can request withdrawals. The Core Vault handles this in a structured process with payments made at a scheduled time: 1. Escrow releases funds from the previous day. 2. User & agent withdrawals are fulfilled. 3. Excess XRP is locked in new escrow accounts. III. Security First The Core Vault is designed with multiple security layers: 🔹No automation signing – reducing attack risks 🔹Escrow system – limiting exposure by locking excess XRP 🔹Daily withdrawal cap – restricting the amount of XRP that can leave the vault IV. Wen With v1.1 retaining most of the v1 codebase, deployment will be significantly faster, ensuring FXRP is widely available for unlimited minting — coinciding with the launch of the XRP staking solution on @FlareNetworks.

Introducing: FAssets V1.1 FAssets allows users to bring assets from non-smart contract networks onto @FlareNetworks and take advantage of the existing DeFi ecosystem. In this iteration, a Core Vault will be deployed, which stores additional funds supporting the FAssets protocol, improving both the user experience and the agent experience. This is the first stage of improvements to the FAssets deployment as part of Flare’s adoption of TEEs, Flare is developing the Protocol Managed Wallet, a system that allows protocols built on Flare to execute cross-chain transactions directly while preserving decentralization. flare.network/news/fassets-c…

@dogecoin @Bitcoin @FlareNetworks Learn about the attestation types supported by FDC: dev.flare.network/fdc/guides/att…

A closer look at how Flare Data Connector is supporting the FAssets system 🔍 It tracks states and events across #XRPL, @dogecoin & @Bitcoin, providing cryptographic proofs for data originating outside @FlareNetworks. This powers game-changing use cases like FAssets and secure XRP staking. Just imagine the possibilities when this hits Flare mainnet.

1/ The second FAsset is in - welcome, $DOGE and the @Dogecoin community to Songbird. Mint, trade, and get rewarded: > fasset.oracle-daemon.com/sgb > fassets.au.cc Spark DOGEfi with FAssets today 💥

Your $XRP can now sing a new tune 🐦 FAssets are LIVE on Songbird, @FlareNetworks' canary network, with the mainnet launch coming soon. Mint FAssets, explore DeFi, and be rewarded! Find out how to get started: flare.network/fxrp-is-live-o…

Another milestone for Flare and FAssets 🎉 The Flare Data Connector is coming to #Songbird. "In its initial deployment, FDC will support the attestation types required for the FAsset system, as well as EVM transaction types." Voting starts on Oct 24 ⤵️ proposals.flare.network/STP/STP_9.html

The Flare Data Connector (FDC) enables Flare users to import data from other blockchains or the web onto Flare in a decentralised way, secured by network stake. Trustless data for more applications. What could you build? Soon on Songbird. flare.network/wp-content/upl…

FAssets, developed by @Flare_Labs, is a trustless bridging solution for $BTC, $XRP, and other non-smart contract tokens. We will soon open-source the Mint/Redeem App, allowing anyone to inspect, contribute to, or run their own instance for minting and redeeming #FAssets. This promotes trust and supports true decentralization. DM if you want to build FAssets' future together. ☀️

Bitcoin is now supported on FAssets Open Beta 🟠 Users can now bridge TestBTC at fasset-beta.flarelabs.org using @BifrostWallet. Developed by @Flare_Labs, FAssets offers a trust-minimized bridge, providing a decentralized bridging solution for $BTC $XRP. flare.network/bitcoin-suppor…

@Truegems_io @FlareNetworks 👏

Mint Flare Exclusive NFT: Way to FAssets Unlock special perks and opportunities in FAssets’ fast-approaching mainnet launch. Visit @FlareNetworks' booth in #KBW2024, get the flyer, and claim your limited edition NFT at @Truegems_io !

Join the FAssets Agents Support group, read the resources in the pinned message, and ask our mods any questions. t.me/FlareSupport

There are different ways to participate in FAssets, one of them is being an Agent. Learn how to set up an Agent  👇

FAssets Open Beta reset completed ✅ Welcome to the official dashboard: fasset-beta.flarelabs.org This guide highlights the key features of the FAssets Open Beta🔓

In case there is any confusion Flare Labs will be testing FAssets on Songbird.

Tune in to this space on Friday, when @HugoPhilion will cover the recent updates from the Flare ecosystem, including LayerCake, FTSO & FDC, the DeFi Emissions Program, and FAssets. There will also be a live Q&A with the @FlareNetworks community. Leave your questions below 👇

Let’s have a spaces on Friday to chat about hyper focussing on Flare’s advantage in data. twitter.com/i/spaces/1YpJk…