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Flare Finance Announces Joining F-assets Via Pac Protocol

source-logo  u.today 02 July 2021 08:48, UTC

Flare Finance announced a partnership with PAC Protocol to join F-assets such as Cardano, DOGE, XRP and Litecoin. This protocol is the world's largest data distribution network. A statement to that effect was made on the community's official Twitter page. 

Thus, by joining F-assets, Flare Finance through PAC Protocol will be able to create bridges between communities, where network users will be able to interact with DeFi products.

As part of our new @FlareFinance partnership, $PAC joins F-assets like #Cardano, #DOGE, #XRP, and #Litecoin to bridge communities, where users can interact with #DeFi products.

We're proud to be initially joining as a Wrapped Asset harnessing the potential of the #FlareNetwork! pic.twitter.com/oPwjmn5y28

— PAC Protocol (@PACcoinOfficial) July 1, 2021

Also, PAC Protocol said they are proud to join F-assets as a wrap-around asset leveraging the potential of the Flare network!

Note that PAC is indeed a Y-asset, mentioned above as a Wrapped Asset, joining the same ecosystem as the F-assets in the Flare Network. In addition, in the Flare Finance Network, Y-assets have a bridge on their own platform.

Recall that the power of the Flare Network system allows users of these cryptocurrencies to coin into F-assets in the Flare blockchain. The advantage of creating cryptocurrencies is that F-Asset includes receiving FLR from the F-Asset rewards pool. 

$PAC is indeed a Y-asset—referred to above as a Wrapped Asset—joining the same ecosystem as the F-assets on #FlareNetwork, which Y-assets have a bridge to on their platform.

Correct: #Cardano isn't F, it's a wrapped asset. We ❤️$ADA. We're all part of the same family: upward! 🚀

— PAC Protocol (@PACcoinOfficial) July 1, 2021

The F-Asset System is a dynamic and flexible decentralized application based on the Flare Network. It is connected to various blockchains via the State Connector System. 

Creators and agents work autonomously from each other and retain the right to close their positions at any time, provided the necessary actions to close their accounts are performed. 

This also includes delegating the vote on detached Oracle Flare Time Series F-assets through specific signal providers.

Flare Finance also allows for the creation of stablecoins from collateralized F-Asset positions (e.g. Trustline) with the ability to participate in DeFi products.

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