Flare, low-1 blockchain for data, has launched FXRP V1.2, the first fasset on its mainnet, so that XRP holders can use their tokens within decentralized financing applications. With FXRP, users can find representations of XRP mint on flare and access services such as trade, loans, stabile -minting and deployment.
Fassets are Flare’s protocol that makes non-smart contract cryptocurrencies such as XRP possible to function on Defi platforms. Each FXRP is supported one-on-one with XRP. Once issued, FXRP can be freely through the Flare Ecosystem, making it usable in multiple protocols without additional adjustments.
Security for FXRP is maintained by independent audits, bug premium programs and continuous monitoring. Users can obtain FXRP by mulining it directly with XRP or by decentralized exchanges on Flare. Wallets such as Luminite and Ossenstroom also offer integrated FXRP support, including deployment, swapping and bridge functions.
During the launch, Flare stimuli has introduced in the form of RFLR tokens for Polish that add liquidity and support network activity. It is expected that future updates will expand the role of FXRP in the loans, yield markets and Stablecoin issue within the flare ecosystem.
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