The post Flare Open Beta Completed, FXRP Debuts on Songbird appeared on BitcoinEthereumNews.com.

Flare, an EVM-compatible L1 blockchain for data-heavy use cases, has officially launched FXRP, a tokenized version of XRP, on Songbird, its canary network. This deployment paves the way for unlocking programmable opportunities for more assets that cannot be integrated with smart contracts natively. Flare’s FXRP kicks off on Songbird: Details According to the official announcement by Flare (FLR), a novel L1 programmable blockchain with a focus on data, XRP-linked DeFi-enabled asset FXRP has officially launched on Songbird, Flare’s canary network. Also, the open beta of Flare has officially been completed. We know you’ve been waiting for updates on #FAssets. Make sure to read in to have all the updates about the Songbird Test: ✓Purpose✓Duration✓Incentives✓Steps to get to the Test Have more questions? We’re hosting an AMA this Thursday with @HugoPhilion and @Danrocky 🤙 https://t.co/59u2YfJdPh — Flare ☀️ (@FlareNetworks) December 3, 2024 During the open beta, the  FAssets system handled over 263,000 mints, 395,000 redemptions and engaged more than 48,000 participants.  These trials provided valuable insights, highlighting user behavior and system performance under various network conditions. Following a successful beta phase, FXRP’s rollout on Songbird introduces several enhanced features to ensure real-world usability and security ahead of their deployment on the Flare mainnet. With FXRP now live on Songbird, testing shifts from simulated environments to real-world scenarios, incorporating Songbird’s native token (SGB) and Flare’s U.S. Treasury-linked stablecoin, USDX, as collateral.  This phase aims to refine system resilience and usability while accurately reflecting behavior in a live network environment. One of several key improvements is the introduction of an optional “handshake” mechanism, enabling permissioned agents to verify the identity of addresses performing minting and redeeming. More FAssets coming to Songbird and Flare FXRP on Songbird goes live with a number of security safeguards for the maximum comfort of developers, users and testers.…

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Filed under: News - @ December 18, 2024 2:21 pm