@Swan - Swan Bitcoin
Suddenly, BlackRock has developed an appetite for #Bitcoin
@kazonomics - Kazonomics
#Offworldassets ☄️ > #RWA 💸
@Cryptoinsightuk - Cryptoinsightuk
I just bumped into @HugoPhilion, co- founder and CEO of @FlareNetworks . I asked him- “What are you looking forwards to for the future of flare?” And he answered- “We are shipping all our protocols in the next 12 months so it’s pretty hard to choose. The upcoming beta launch of FAssets will be a completion of something we have been working on for a long time and brings multiple assets to Flare. Version 2 of the FTSO will provide up to 1000 prices with on block updates, providing possibly the highest performing price oracle in the EVM space. Then of course we are looking to enable the data provided on Flare to be trustlessly relayed to other chains, turning Flare into a service provider to other chains. LayerCake smart contract bridging is also coming along very swiftly, so yes too much to choose.” I then asked him - “What have been your biggest challenges so far with $FLR?” He answered - “Communicating our thoughts on complex / new areas in a way that is clear for all to understand. It is hard for us to communicate our specific vision and how we are executing this to all who are involved and following the project. But we are hiring specialists to help us do this.”
@FlareNetworks - Flare ☀️
#FAssets Beta is now live on Flare’s Coston testnet – a milestone for $800B of crypto assets. The system will allow tokens like BTC, XRP & DOGE to be used trustlessly with smart contracts on #Flare - earning yield in DeFi dapps and bridging to other chains. https://flare.network/beta-testing-of-fassets-has-commenced-on-flares-coston-testnet/
@CommunityFlare - Flare Community ☀️
🚨 MUST WATCH VIDEO! 🚨 What Are F-Assets? ⤵️ #FlareNetwork
@CommunityFlare - Flare Community ☀️
https://flare.network/beta-testing-of-fassets-has-commenced-on-flares-coston-testnet/
@AllWeatherLife - AllWeatherLife ⭕️
Great video on #FlareNetwork #FAssets $FLR #FLR LETS GO family. Check this out…
@FlareNetworks - Flare ☀️
"It would do a lot of good if we figured out ways to unlock all that Bitcoin liquidity for all kinds of EVM apps, in a way that's not wrapped Bitcoin." says @davidmarcus at @BanklessHQ. #FAssets are here to help: https://flare.network/fassets/ Video source: https://youtu.be/gc0b3FC8Nq8?si=vz1ORBo7x-5VNXqs&t=3952
@DieCsHamburg - DieCs
FLARE FAsset coming 2024 🔥 @FlareNetworks #flarenetwork #Flare #Flarecommunity $FLR #FlareCommunity @CommunityFlare @Danrocky @tina_connects @HugoPhilion @focus_kermit @ftso_au @CK113311 @melancon_joey @Flare_Labs https://t.co/uOwhYYxfLv
@Danrocky - Danrocky☀️
Anybody else noticed that the bird has been set free 🦜 #Fassets coming to #Songbird H1 2024 https://t.co/zRrSJFQdYc
@AllWeatherLife - AllWeatherLife ⭕️
I am an early investor in $FLR. I believe #fassets and #layercake on Flare Newtons is going to be major. Don’t wait till it happens #FLR
@Coachjv_ - Coach, JV
#xrpunleashed Coming 2024! The documentary that will shift the financial system! https://t.co/yrTJ9McPnU
@eli5_defi - Eli5_DΞFi 🏭, 🦇🔊
70% blockchain assets lack smart contract capabilities. However, did you know that these assets can be transformed into highly productive assets? Allow me to introduce you to FAssets by @FlareNetworks Labs.
@eli5_defi - Eli5_DΞFi 🏭, 🦇🔊
This post will cover: 1️⃣ What is FAssets? 2️⃣ Who is The Participant in FAssets Ecosystem? 4️⃣ How to Mint FAssets? 5️⃣ How to Redeem FAssets? 6️⃣ Is FAssets Fully Redeemable? 7️⃣ How FAssets Liquidation Handled? 8️⃣ FAssets Infinite Potential
@eli5_defi - Eli5_DΞFi 🏭, 🦇🔊
Disclaimer Section If you enjoyed the thread, please: 🔖Bookmark ♥ Like 🔁Retweet 📣Comment 🎁 Share Your support will be greatly appreciated! Disclaimer: 💰 Not Financial Advice 🔬 Do Your Own Research 🤝 This thread was created in collaboration with @FlareNetworks
@eli5_defi - Eli5_DΞFi 🏭, 🦇🔊
What is FAssets? → FAssets is a system on the @FlareNetworks blockchain that allows tokens from blockchains without smart contract capabilities to be used trustlessly with smart contracts on Flare. → It's like giving superpowers to your crypto assets with no smart contract functionalities, enabling them to interact in the smart contract world. → Once minted, these FAssets can be used in smart contracts and decentralized applications on Flare Network or bridged to other chain through LayerCake.
@eli5_defi - Eli5_DΞFi 🏭, 🦇🔊
FAssets Ecosystem Participant → The FAssets ecosystem on the @FlareNetworks is supported by a variety of roles, each contributing to its functionality and stability. → Understanding these roles is key to grasping how the system operates and maintains its integrity. Let's delve into each role in details. --- --- ◢ Users → Users are the participants who interact with the FAssets system either by minting or redeeming FAssets. → Activities Minting Depositing underlying assets to an agent's address in exchange for FAssets. Redeeming Returning FAssets to the system in exchange for the equivalent amount of underlying assets. → There are no eligibility requirements, meaning anyone can use the system to mint and redeem FAssets. --- ◢ Collateral Providers → These participants provide the native $FLR tokens to an agent's collateral pool. → They receive a share of every fee produced by FAssets minted using that pool. → Anyone can become a collateral provider by locking in $FLR tokens. --- ◢ Agents → Agents are pivotal in the FAssets system. They hold the underlying assets while the minted FAssets are in circulation. → Responsibilities - Manage accounts holding underlying assets (like $BTC). - Provide a significant part of the collateral pool. - Repay the underlying assets when users redeem FAssets. - Agents must be verified by governance, which includes submitting management addresses and, initially, some off-chain personal information for KYC purposes. --- ◢ Liquidators → Liquidators play a role when an agent's collateral falls below the required minimum. → Process - They send FAssets into the system in exchange for collateral from the agent's vault and collateral pool. - The FAssets sent by liquidators are burned, reducing the amount of FAssets that need backing. - Anyone can be a liquidator, contributing to the health of the system and earning rewards. --- ◢ Challengers → Challengers monitor an agent's underlying address to detect illegal transactions. Challengers that correctly report illegal operations receive rewards from the agent's vault collateral. → Role - Provide proof to the FAssets system in exchange for a reward from the agent's vault if they detect an illegal transaction. - Trigger full liquidation of the offending agent, locking their vault against new mintings.
@eli5_defi - Eli5_DΞFi 🏭, 🦇🔊
Minting & Redemption of FAssets → The processes of minting and redeeming FAssets on the @FlareNetworks are central to its functionality, allowing users to convert between native blockchain tokens and their FAsset equivalents. Let's delve into each process in detail. ⚙️
@eli5_defi - Eli5_DΞFi 🏭, 🦇🔊
Minting FAssets → Minting is the process of creating FAssets, which are representations of other cryptocurrencies on the @FlareNetworks. → This process "wraps" the original tokens into ERC-20 format that can be used within the Flare ecosystem and bridged to other chains. --- --- ◢ Choosing an Agent The user selects an agent from a list verified by governance. This choice is based on factors like the agent's minting fee and the amount of free collateral available to back the minting. ◢ Collateral Reservation Transaction (CRT) The user sends a CRT to the Asset Manager contract on Flare. This transaction includes the agent's address, the amount to mint, and the collateral reservation fee (CRF) ◢ Locking Collateral The Asset Manager contract locks the necessary amount of the agent's collateral to back the minting. ◢ Making the Payment The user pays the required amount (including the agent's fee) on the original token’s blockchain to the agent's address. ◢ Proving the Payment Using the State Connector, the user proves the payment on the Flare Network. ◢ Executing Minting Once the payment is verified, the minting process is executed, and FAssets are sent to the user's account.
@eli5_defi - Eli5_DΞFi 🏭, 🦇🔊
Redemption of FAssets → Redemption is the process of converting FAssets back into the original cryptocurrency. This process allows users to "unwrap" their FAssets. --- --- ◢ Initiating Redemption The user starts the redemption process for a specific number of FAssets by sending a request to the Asset Manager smart contract. ◢ Burning FAssets The system burns the FAssets from the user’s account corresponding to the redemption amount. ◢ Agent Payment Information For each agent involved in the redemption, the system issues an event with details like the redeemer’s underlying address, the amount to pay (minus the fee), and a unique payment reference. ◢ Agents Make Payments Each agent pays the redeemer on the original token’s blockchain, including the payment reference in the transaction. ◢ Proving Payment After the payment is finalized, the agent uses the State Connector to prove the payment and obtain a payment proof. ◢ Releasing Collateral Once the payment proof is presented, the agent's vault and pool collateral backing those FAssets are released. ◢ Redemption-Payment Failure If agents fail to pay within the defined timeframe, anyone can prove nonpayment and be compensated with collateral plus a premium.
@eli5_defi - Eli5_DΞFi 🏭, 🦇🔊
FAssets is Fully Collateralized and Redeemable → The FAssets collateral system is a dual-structured model involving vault and pool collateral, each serving specific purposes and backed by different entities. --- --- Types of Collateral → Vault Collateral - Provided By: Agents - Composition Typically stablecoins (like $USDC, $USDT) or other highly liquid tokens on the @FlareNetworks - Purpose Ensures agents fulfill their obligations, such as repaying the underlying assets during redemption. - Vault Creation Agents choose a type of collateral approved by governance and create a vault. Each vault is tied to a unique address on the underlying chain. → Pool Collateral - Provided By: Agents and collateral providers/ $FLR holders. - Composition Exclusively native $FLR tokens. - Purpose Acts as an additional source of backing, especially useful when rapid price fluctuations make vault collateral insufficient. - Collateral Pool Tokens (CPTs) Issued to providers as proof of their share in the pool. CPTs entitle holders to a portion of minting fees and can be redeemed or traded. --- Collateral Ratio (CR) → The collateral ratio is a critical metric, with various thresholds set to maintain system stability and trigger necessary actions like liquidations. --- Collateral Pool Tokens (CPTs) → When providers add $FLR to a pool, they receive CPTs proportional to their contribution. → CPTs can be redeemed for $FLR after a governance-defined time lock. CPTs are divided into transferable and locked types, based on fee debt and time lock. → A portion of minting fees goes to the collateral pool, shared among CPT holders. → Providers can exit the pool by redeeming their CPTs, receiving their share of collateral and minting fees, minus any fee debt.
@eli5_defi - Eli5_DΞFi 🏭, 🦇🔊
Liquidation Process → Liquidation in the context of FAssets on the @FlareNetworks is a critical mechanism designed to maintain the system's health and stability. → It occurs when an agent becomes undercollateralized, meaning the value of their collateral falls below a certain threshold relative to the FAssets they are backing. → Full liquidation occurs when the agent makes an unauthorized transaction from their address on the underlying chain. → If this is proven, all the FAssets backed by the agent are put into liquidation, and the liquidation process can’t be halted. --- --- Types of Liquidation → Unhealthy Position Liquidation Triggered when an agent's collateral ratio (CR) for either their vault or collateral pool falls below the minimal CR. The liquidation continues until the CR reaches the safety CR or all backed FAssets are liquidated. → Full Liquidation Occurs if an agent makes an illegal payment or manipulate the system from their underlying chain address. This results in the liquidation of all FAssets backed by the agent, and the process cannot be stopped once initiated. --- Unhealthy Liquidation → Initiation Liquidation occurs when specific conditions are met, such as the collateral ratio (CR) dropping below the minimum requirement. Liquidation for an unhealthy position can be stopped by depositing enough collateral or self-closing FAssets to reach the safety CR. → Liquidator Participation FAsset holders can become liquidators by sending their FAssets to the system. They will receive vault and pool collateral, based on the current asset price, along with a premium. → Payment to Liquidators → Distribution of Payment → Stopping Liquidations If market conditions improve and the CR naturally rises above the safety CR, the liquidation can also be stopped. --- Full Liquidation → Challengers play a role in maintaining the health of the FAssets system by monitoring agents' activities and reporting any illegal operations. → Full Liquidation Specifics The agent's vault is locked, preventing it from being used for new mintings. → Only minting results in new FAssets being added to the liquidation process. → Redemptions continue as usual until the agent has no more redemption tickets. The liquidation only stops when all the agent's collateral is liquidated.
@eli5_defi - Eli5_DΞFi 🏭, 🦇🔊
FAssets Infinite Potential → The integration of FAssets into a @FlareNetworks ecosystem presents a myriad of possibilities, leveraging the unique capabilities of FAssets to enhance and innovate in various sectors. --- --- → Lending and Borrowing FAssets can be used as collateral for loans or as assets for borrowing in lending platforms. → DEX/AMMs FAssets can be traded on DEXs, providing liquidity and trading pairs that were previously unavailable. → Stablecoins FAssets can be used to mint stablecoins, either as collateral or through algorithmic mechanisms. → Derivatives FAssets enable the creation of derivative products like options, futures, and swaps based on assets from non-smart contract blockchains. → Governance Holders of FAssets can participate in governance protocols of various DeFi platforms. → Liquid Staking FAssets can be staked in protocols to earn staking rewards while remaining liquid. → Yield Farming Users can engage in yield farming by providing liquidity with FAssets, earning rewards in various tokens. → DeFi Gaming FAssets can be integrated into blockchain-based games for transactions, rewards, or in-game asset purchases. → Cross-chain Interoperability LayerCake facilitate FAssets cross-chain interactions, allowing for seamless asset transfer and utilization across different blockchain ecosystems
@eli5_defi - Eli5_DΞFi 🏭, 🦇🔊
Wrap-Up @FlareNetworks → FAssets fundamentally transform the DeFi landscape by enabling tokens from traditionally non-smart contract blockchains to actively participate in DeFi activities, significantly broadening the scope and reach of decentralized finance. → FAssets open the door to limitless utilization and composability within the Flare ecosystem. → FAssets transform previously non-productive assets into productive ones, offering innovative ways to leverage these assets. → The potential applications and benefits of FAssets are only limited by one's imagination, offering a canvas for creativity and innovation in utilizing these assets
@eli5_defi - Eli5_DΞFi 🏭, 🦇🔊
If you want to check previous post about @FlareNetworks fundamentals, please check the post below: https://x.com/eli5_defi/status/1749392297702347124?s=20
@eli5_defi - Eli5_DΞFi 🏭, 🦇🔊
You can also join my Telegram channel to receive the latest updates and news about web3 and crypto spaces. Some Alpha information is exclusively shared there. https://t.me/eli5definews
@eli5_defi - Eli5_DΞFi 🏭, 🦇🔊
Tagged my friend that bullish on #DeFi and Data Infrastructure to review: - @JiraiyaReal - @DeRonin_ - @Haylesdefi - @wacy_time1 - @Hercules_Defi - @CryptoGideon_ - @Deebs_DeFi - @2lambro - @DefiIgnas - @TheDeFISaint - @ayyyeandy - @NickDrakon - @MoneyCrptBunny - @Dynamo_Patrick - @CryptoGideon_ - @therollupco - @hmalviya9 - @Flowslikeosmo - @DeFiMinty - @matrixthesun - @blocmatesdotcom - @0xFinish - @DOLAK1NG - @0xTindorr - @CryptoWithNick - @arndxt_xo - @crypto_linn - @stacy_muur - @takegreenpill - @CryptoShiro_ - @0xAndrewMoh
@Multisiteltd - Ben Rogers ☀️(Luciflare)
This is the Big News then 👍 Luckily $XRP $FLR & $SGB are not securities 😊 XRP had to go get their day in court Flare didn’t ICO & Air Dropped the tokens = none securities - all the haters bitched & moaned about the price going down & now you know why they did it - nothing is free in this world 🌍
@bitcoinlfgo - BITCOINLFG®
BIGGEST #BITCOIN BREAKING EVERRR 🚨 TRILLIONS ABOUT TO ENTER THE CRYPTO MARKET BlackRock just filed with the SEC to launch tokenisation fund. BlackRock CEO Larry Fink: ‘…the next step is the tokenisation of financial assets, and that means every stock, every bond https://t.co/CeLGmhvpNc
@liciagirl0607 - Alicia Kirkland 🇺🇲
NEW: 🇺🇸BlackRock just filed with the SEC to launch tokenisation fund. BlackRock CEO Larry Fink: ‘…the next step is the tokenisation of financial assets, and that means every stock, every bond… @MoltMoney @ehudakineeh @XRPBrainst0rm @PaTrumpGirl https://t.co/CtAuTHe8ko
@doqholliday - DOQ
RLUSD is going to bring down Tether
@CryptoGeekNews - CryptoGeek
🚨BREAKING: David Schwartz XRP WILL MOVE ALL THE MONEY! https://t.co/XUL26phVxW
@801_XRP - 801_XRP
Ripple XRP Fam Federal Reserve Financial Services is on track to implement ISO 20022 messages for the Fedwire® Funds Service on July 14, 2025! Post ISO 20022 Go-live July 14, 2025 and beyond. Begin using your ISO 20022-formatted templates in production. https://t.co/8AVW86OP3K
@CultivateElevat - Matt From Cultivate Elevate
Bitcoin and the federal reserve 🤔all angles https://t.co/6OJ1Q7D4jN
@RWAwatchlist_ - Real World Asset Watchlist
🚨 BREAKING: Dubai just launched a $16B tokenized real estate project on XRP Ledger. Buy property for just $500. Habibi money is loading. #RWA 🚀 https://t.co/rdYpptVzoj
@davidicke - David Icke
Unleashing on Digital ID and the AI control system. https://t.co/nwsycAxfdq