ELON fires DOGE price

🔥 13 most asked questions about FAssets v1.1 on Songbird — let's unroll: Q1. What’s the difference between v1 and v1.1? Why is v1.1 more capital efficient? A: FAssets v1 was too capital-intensive, requiring Agents to significantly overcollateralize. Version 1.1 solves this by introducing the Core Vault, which provides additional XRP liquidity and allows Agents to free up FLR, SGB, and stablecoin collateral. As a result, the system can support unlimited FXRP minting and achieve greater scalability. Q2. What is FAssets v2? A: FAssets v2 will introduce a more automated and secure system using Trusted Execution Environments (TEEs) for cross-chain minting/redemption. Expect: - Better liquidity access. - Automated minting/redemption. - Support for assets beyond XRP (like BTC, DOGE). Q3. What is Core Vault in simple terms? A: The Core Vault is a multi-sig-controlled XRPL account that acts as a liquidity reserve for FAssets. It helps: - Agents deposit XRP to free up FLR/SGB or stables collateral. - Users can redeem FXRP directly for XRP (KYC required & large amounts only). - It's time-locked and secured to limit withdrawal risks. Q4. Why is this upgrade needed for XRP staking? A: FXRP must be liquid and available to support XRP staking. V1.1 enables unlimited FXRP minting, ensuring a healthy market for the upcoming liquid staking token. Q5. Is FAssets v1.1 still overcollateralized? A: Yes. Agents still need to post FLR (or SGB) worth at least 1.3x the minted FXRP. But the Core Vault allows Agents to optimize and reuse their collateral, improving capital efficiency. Q6. What security measures are in place for v1.1? A: Multi-layered security includes: Time-locked XRP escrows. Multi-sig control of the Core Vault. Emergency Alert Mode by the Flare Foundation. Ongoing audits + active bug bounties on Immunefi. Q7. Has FAssets v1.1 been audited? A: Yes! Completed audit here: More audits are in progress, and @Immunefi bug bounties are active. Q8. Can we mint FXRP without limits now? A: Not yet. Minting starts with a 750,000 XRP cap for careful monitoring. This cap will increase as system readiness and signer count grow. Q9. “There will be no collateral, only the vault.” Is that true? A: No. The Core Vault adds liquidity — it doesn’t replace collateral. Agents still provide FLR/SGB and stables to enable minting of FXRP. Q10. Do I need to move my collateral now that v1.1 is live? A: No action needed. v1.1 is backward-compatible — your setup stays intact. The Core Vault benefits Agents but doesn’t require changes from FXRP holders or collateral providers. Meanwhile, FDOGE holders are encouraged to redeem soon via minting dApps, or swap into other tokens on Blazeswap or Enosys if they don’t meet the full-lot requirement. Q11. When is the retroactive airdrop? A: Coston beta testers may be eligible. Distribution is scheduled for May 28, with claiming details shared closer to the date. Q12. Should I start minting FXRP today? A: FAssets v1.1 is live on Songbird (Flare’s canary network), and you can start minting, but there are a few things to keep in mind. You’ll be bridging XRP to Songbird, which currently has a limited ecosystem for FXRP. This launch is primarily a test to ensure the system’s robustness. The Flare Foundation doesn’t currently plan to offer incentives for minting, redeeming, or participating in DEX pools—only SGB collateral provision is incentivized at this stage. However, individual dApps may choose to offer FXRP yields at their own discretion. Q13. How can I support FAssets on Songbird? A: Try it out — mint and redeem FXRP. Share your experience on X, Telegram & Discord. Educate others. And get ready for mainnet and help build XRPFi together ☀️

Yesterday, Flare Labs introduced FAssets V1.1. Here is a product update: 🔹 Identifiable entities are cooperating with the Flare Foundation to decentralize the Core Vault in V1.1 🔹 Flare Labs is finalizing code changes and kicking off audits 🔹Next up: FXRP V1.1 launch on Songbird FAssets V1 incentivized testing is ongoing! The 7th bi-weekly $37K reward was distributed yesterday. Both FXRP and FDOGE redemptions still qualify for the lottery. 🎟️ 🔗 Learn more:

TLDR: We have been working away at Flare Labs and there will be an FXRP protocol on Flare that can enable unlimited minting well before late summer. Papers and full information soon. ————— Songbird has shown that FAssets V1 is too capital intensive. As a result not enough FXRP, FDOGE etc can be minted. I previously said that FAssets V1 would launch in March on Flare and V2 would launch in late Summer. What I didn’t know when I posted was that we would make good progress internally on V1.1 of FXRP. V1.1 of FXRP is a step between V1 which is constrained by capital and V2 which is not. V1.1 of FXRP can allow unlimited minting of FXRP. As a result we won’t launch V1 on Flare. We will move directly to V1.1 after it has been tested on Songbird. Most of the codebase is the same so it will not need the same length of testing as V1 FAssets. This means that there will be an FXRP protocol on Flare that can allow unlimited minting well before late summer. This path is absolutely necessary as XRP staking will also go live around the time that FXRP V1.1 does and there must be a viable market on Flare between FXRP and the XRP Liquid Staked Token (LST). Only FXRP V1.1 can enable this. As a side note, we won’t be launching V1 of FDOGE or FBTC on Flare. We will be moving directly to V2 with those assets as the first launch - ie late summer. We can build V1.1 of FXRP due only to the escrow functionality available on XRPL. Seperately because of the increased capital efficiency of V1.1 of FXRP there is no reason for it not to remain on Songbird after it has been tested and launched on Flare. The same goes for V2’s of XRP, BTC and DOGE.