We take a look at the Fasset Beta and significant opportunities to earn, compound and grow your FLR stack vertically and horizontally with participation. Early adopters will earn early rewards and just holding FLR grows 44-50% alone just from FLare drops and delegating/staking

Grab a cup of coffee and lets take a walkthrough:

FAssets Open Beta reset completed ✅

Welcome to the official dashboard: https://fasset-beta.flarelabs.org

This guide highlights the key features of the FAssets Open Beta

Become a Liquidity Provider

Provide liquidity by adding CFLR to agents' collateral pools and earn rewards*:

1. Choose a pool and click 'Deposit'.
2. You can withdraw anytime.
3. View your updated position & claim your rewards at the top of the pool page.

CFLR faucet: https://faucet.flare.network

*Your claimable rewards depend on:

a) Fees and commission paid by users to the agent when minting FAssets

b) Your pool share: the percentage of your collateral in the pool

Note: FAssets are currently on Coston. Rewards are in FTestXRP. Participate and share your experiences to earn retroactive rewards.

2️⃣ Minting and Redeeming FAssets

The minting and redeeming process remains similar to the previous version, with the added ability to choose agents:

When minting, you'll see a list of available agents along with their names and vault addresses. 🆕

Pay attention to:

▸Mint fee: Commission paid to agents for minting FAssets

Example: If an agent's minting fee is 0.25%, minting one lot (20 FTestXRP) requires paying 0.05 testXRP to the agent.

▸Available lots of FTestXRP you can mint from a specific agent.

Currently, only
@BifrostWallet
fully supports all operations (Mint, redeem, collateral provision).

Get involved in testing and stay tuned for news about retroactive airdrops.

Just like before, don’t forget to redeem your assets, and remember not to hold more than 1,000 FTestXRP to qualify for the airdrop.

For our advanced users, follow the guide linked in the dashboard to join us as an agent. You’ll play a vital role in providing liquidity and supporting minting operations, plus you’ll earn fees from users minting FAssets when it’s on the mainnet. Join the FAssets support group here: https://t.me/FlareSupport. ☀️

Next: FTestBTC support🌈

We’ve expanded wallet support for FBTC and are testing Agent’s vault with TestBTC.

Minting and redeeming of FTestBTC will be available very soon.

We’re excited to see how you engage with FAssets Open Beta and explore all the features it offers.

Stay tuned for future updates, enhancements, and exciting features on the horizon.

☀️Happy testing: https://fasset-beta.flarelabs.org




#sgb #songbird #songbirdnetwork #songbirdcrypto #crypto #flarenetwork #FLR