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Ethereum Might Be Next F-Asset on Flare: Community

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Sun, 04/04/2021 - 14:28
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Vladislav Sopov
After XRP, Litecoin (LTC) and Cardano, second cryptocurrency may be added to Flare (FLR) mechanisms as F-asset
Ethereum Might Be Next F-Asset on Flare: Community
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The community behind Flare, an EVM-compatible Turing-complete smart contract environment that launches in mainnet in Q2, 2021, has begun a discussion of the new F-asset. Meanwhile, the first-ever Flare-based DeFi has released a comprehensive review of its design.

Will Flare add Ethereum as an F-asset?

CommunityFlare, an account of Flare (FLR) blockchain enthusiasts, suggested one more addition to Flare's ecosystem. A proposal to add Ethereum (ETH) as an F-asset is now being discussed by FLR community supporters.

Flare community consideres adding Ethereum (ETH)
Image via Twitter

Flare (FLR) enthusiasts noted that the release of F-ETH on Flare (FLR) will allow Ethereans to send their tokens "at a reasonable cost." Thus, Flare (FLR) will evolve into yet another possible solution to the exorbitant Ethereum (ETH) fee problem.

Related
With ETH Price Over $1650, Gas Fees Go Ballistic. What's the Solution?

In 2021, Ethereum (ETH) fees increased by an order of magnitude. During periods of maximum network congestion, initiating one Uniswap (UNI) trade was worth $100-$150.

As covered by U.Today previously, the Flare community has the right to vote on new F-Assets (native tokens of Flare blockchain pegged to other assets). F-DOGE, F-LTC, F-XRP and F-ADA already exist as Flare's F-Assets.

Flare Finance mechanisms are explained in a detailed review

The majority of Flare community activists are enthusiastic about the possibility of a new release. It may establish itself as one more asset of interoperability between Flare and Ehereum as Flare's smart contracts will be fully compatible with Ethereum Virtual Machine from day one of its release.

Meanwhile, Flare Finance, the first-ever Flare-based decentralized financial ecosystem, has released a comprehensive guide to all of its elements.

The massive document provides a detailed explanation of all of Flare Finance's modules: decentralized exchange, yield farming tools, lending/borrowing mechanisms, mining incentivization instruments and so on.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)