Flare has launched Fassets V1.1 on Songbird, an important update aimed at scaling and expanding the usefulness of FXRP.
This release introduces the core safe and new mechanism that improves capital efficiency by unlocking previously tied collateral and removing important bottlenecks in the mint process. The upgrade marks an important step to enable XRP to participate meaningfully in Decentralized Finance (Defi).
Fassets are designed to bring non-slimming contract assets such as Bitcoin and Dogecoin into the Defi-Ecosystem.
Now, agents XRP can deposit directly into a core vault address on the XRP whides, which in turn automatically unlocks the corresponding FLR on Songbird. This allows the mivester to resume without having extra capital input, stream lines to stream lines.
The core safe is supported by robust security, with time-locked Escrow accounts and multi-signature authorization that is governed by long-term ecosystem members. To strengthen confidence, Flare has completed several audits and launched active bug principles on Immunefi.
“This upgrade is ultimately about giving XRP really usefulness,” said Hugo Philion, co-founder and CEO of Flare. “XRP is the third largest crypto activ, excluding Tether – it is a huge active. It would be idiot for us not to build a protocol that serves. FXRP is not just a wrapping – it is how XRP can be used in a composite defici world.”
Fassets V1.1 determines the scene for the future of XRP on the Flare Minnet, which means that Defi applications such as loans, deployments and cross-chain yield agriculture are possible. To manage the roll -out question, mining starts with a cap of 750,000 FXRP, which will scale over time.
A biweekly incentive program rewards FXRP-Liquidity providers and SGB Supporters with RFLR via the Flare Portal. In addition, on 21 May, FLARE will go $ 135,000 in RFLR to the top 10,000 early testers of the Coston Test Network AirDrops AirDrops.
