🔴 Features of Spark (FLR) 📉📈🚀
1. Interoperability
Flare enables Spark to connect different chains (BTC, XRP, LTC, DOGE…) with smart contract systems.
This enhances the usability of assets that originally did not support smart contracts.
2. Smart Contracts for Non-Programmable Assets
Through the Flare network, an asset like XRP or BTC can be used in DeFi, NFT, or dApps applications, thanks to smart contract support.
3. FTSO Mechanism (Flare Time Series Oracle)
Spark is used as the native token to operate the network's decentralized oracle.
FLR holders are incentivized to provide accurate price data, making the system sustainable and secure.
4. Governance
FLR holders can participate in network governance and vote on proposals and updates.
This enhances the decentralized nature of the system.
5. Multiple Uses
Collateral: Spark can be used as collateral to issue new assets on Flare.
Incentives: Users are rewarded for participating in the oracle and voting.
Transaction Fees: Used to pay transaction fees within the network.
6. Enabling DeFi and NFTs
Spark opens the door for introducing assets like XRP, BTC, and DOGE into the world of decentralized finance (DeFi) and non-fungible tokens (NFTs).
7. Strong Community and Support
The project has received support from large communities like XRP.
It was partially distributed via Airdrop to XRP holders in December 2020, rapidly expanding the user base.
