More liquidity and users are gonna pump to @FlareNetworks.

FAssets launched on Songbird, a crucial step towards bringing DeFi to $XRP via FXRP.

Here's how to capitalize on it 🧵

➣ What's FAssets?

FAssets are an innovative DeFi mechanism developed by @FlareNetwork that enables digital assets without smart contract support to be utilized in DeFi.

Minted copies of these assets, backed by various types of collateral, are known as FAssets.

$FXRP is the modified version of $XRP that can be capitalized on across DeFi protocols, for example, staking it.

➣ V1.1

V1.1 is the largest upgrade in FAssets' history. Here's why it's important:

With XRP-powered DeFi demand rising, FAssets v1.1 offers unlimited minting, lower capital needs for agents, and smoother scaling before the Flare mainnet launch.

Its architecture consists of three main parts:

- Core Vault: It acts as a liquidity hub where agents deposit XRP to unlock FLR collateral on Songbird and Flare networks. This collateral can mint more FXRP or be used elsewhere.

It also helps keep the system stable during high minting periods.

- Multi-layered Security: The Core Vault uses multi-layered security with escrow accounts and multi-signature authorization, offering decentralized reserves to ensure transaction integrity and limit daily exposure.

- Scalability: By lowering capital demands on agents and improving minting scalability, the system allows unlimited minting. FAssets v1.1 supports wider adoption and ecosystem growth.

➣ REWARDS

Flare will reward $SGB collateral providers and FXRP liquidity providers every two weeks with $rFLR.

These incentives aim to keep the ecosystem liquid enough and to provide enough collateral for all mints.

➣ Get Started

FXRP minting is live on Songbird. Don't waste time and start earning on your assets within the Flare ecosystem.

Mint here: