⚡️ A reminder of how Flare’s infrastructure makes all of this possible.
It starts with XRP on the XRP Ledger.
Flare’s Data Connector verifies XRPL transactions, while FAssets use these attestations, FTSO price feeds, and collateral to mint FXRP on Flare.
That FXRP can then be staked on @Firelightfi, providing funds to help cover eligible potential losses in @LidoFinance’s Ethereum vaults.
If a coverage event occurs, the Independent Risk Consortium will verify the loss before authorizing a payout.
#BTC☀ $FLOW
It starts with XRP on the XRP Ledger.
Flare’s Data Connector verifies XRPL transactions, while FAssets use these attestations, FTSO price feeds, and collateral to mint FXRP on Flare.
That FXRP can then be staked on @Firelightfi, providing funds to help cover eligible potential losses in @LidoFinance’s Ethereum vaults.
If a coverage event occurs, the Independent Risk Consortium will verify the loss before authorizing a payout.
#BTC☀ $FLOW
