On 28 November 2023, blockchain research and development company Flare Labs launched a test version of the FAssets system on Flare’s Coston testnet.
The FAssets system enables non-smart contract tokens such as Bitcoin (BTC), (XRP), Dogecoin (DOGE) and others to be used trustlessly with smart contracts on Flare, as per the latest information shared with Finbold.
By minting these tokens into FAssets, it will be possible to stake them in exchange for yield or rewards in decentralized applications on the Flare network, and once the FAssets are on Flare, tokens can also be bridged to other networks.
“More than 70% of the total value of all blockchain assets do not have smart contracts and therefore can’t be efficiently deployed in DeFi. FAssets enable these legacy assets to be represented on a smart contract chain without requiring a centralized third party,” said Hugo Philion, CEO of Flare Labs.
He added:
“For developers, it will be a new and trustless means to access new pot
We współpracy z: https://finbold.com/flare-labs-launches-test-version-of-fassets-on-coston-network/
