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FAssets

What are FAssets?

FAssets is Flare’s protocol that brings assets without native smart contract support, like XRP, into decentralized finance (DeFi) as 1:1 representations on Flare, with rule-based minting and collateral-backed redemption.

Understanding FAssets

FAssets connects external-chain assets to Flare through verified transactions and protocol-defined minting and redemption rules. Each asset minted this way is a 1:1 representation on Flare, such as FXRP for XRP from the XRP Ledger (XRPL). The system includes verification, minting controls, redemption mechanics, collateral where applicable, and emergency safeguards to support secure operation.

FXRP is the first live FAsset, representing XRP on Flare, and the same design is built to extend to other assets without native smart contract support in future. FAssets itself is not a token you hold. It is the underlying system: the smart contracts, agents and data verification that mint and redeem assets like FXRP.

Minting through FAssets starts when you initiate bridging by sending a transaction on the original asset’s chain, and completes when an executor presents proof of that payment on Flare. Redeeming reverses the process: the Flare-side token is burned and the original asset is released back. Both directions run through the protocol without a centralized intermediary approving them.

Why FAssets exists

FAssets exists because most major crypto assets, XRP included, were never built with smart contract support of their own, which shuts them out of DeFi by default. A common shortcut is a centrally custodied wrapped token, where a single company holds the underlying asset and users trust that company to honor redemptions. FAssets was built to avoid that single point of failure: it replaces one custodian with a decentralized network of collateralized agents, each backing the tokens they mint with Flare-network collateral in addition to the underlying asset itself. Verification of deposits and redemptions runs through the Flare Data Connector rather than a centralized bridge operator. The result is a way to bring assets like XRP into DeFi that does not depend on trusting one company to behave honestly.

How FAssets works

  1. You initiate bridging by sending a transaction on the original asset’s native chain, such as an XRPL payment with a destination tag or memo.
  2. The Flare Data Connector verifies your payment before any Flare-side token is minted.
  3. The protocol mints the equivalent Flare-side token, such as FXRP, once an executor presents the verified proof on Flare.
  4. A protocol agent keeps collateral locked on Flare for as long as the tokens they minted remain in circulation.
  5. You or any holder can redeem the Flare-side token at any time, burning it on Flare to release the original asset back from the agent.

How FAssets relates to XRPFi and Flare

FAssets is the protocol on Flare that creates FXRP, and XRPFi is the DeFi ecosystem where FXRP is used.

XRPL is where XRP is issued and moved. Flare is where XRP becomes programmable. FAssets is the system that connects those roles.

Flare provides the infrastructure around those assets: verified external-chain events through Flare Data Connector, price data through Flare Time Series Oracle, and a path toward richer cross-chain execution through Flare Smart Accounts and Flare Confidential Compute. Once minted, FXRP moves into XRPFi, where holders lend, borrow, trade and enter yield vaults across Flare DeFi.

What you can do with FAssets

  • See FXRP, the live token minted through FAssets.
  • Mint FXRP by depositing XRP through the FAssets protocol.
  • Use FXRP across XRPFi once it is minted.
  • Trade, lend, or supply liquidity with FXRP across Flare DeFi.

FAssets at a glance

Key facts about the FAssets protocol.
Full nameFAssets
TypeTrust-minimized asset bridging protocol
NetworkFlare
What it does1:1 backed, redeemable tokens for assets without native smart contract support
Secured byFlare Data Connector for payments, Flare Time Series Oracle for collateral prices
Live output tokenFXRP (representing XRP)
Audits and SecurityZellic, Coinspect and Code4rena, Immunefi bug bounty, Hypernative monitoring
Technical documentationdev.flare.network

Frequently asked questions

FAssets is Flare’s trust-minimized protocol for bringing assets without native smart contract support, like XRP, into DeFi. It mints a 1:1 backed, redeemable token on Flare, such as FXRP, backed by collateralized agents rather than a single custodian.

Yes. FXRP is the FAssets protocol’s representation of XRP on Flare, minted 1:1 against XRP locked with a collateralized agent. It is the first live token produced by the protocol, though the mechanism is built to extend to other assets in future.

Independent agents back them. Each agent posts collateral on Flare in addition to holding the original locked asset, so a token like FXRP is backed by both the underlying XRP and onchain collateral rather than by a single custodian’s word.

A centralized wrapped token relies on one company holding the underlying asset and approving redemptions. FAssets replaces that single custodian with a decentralized network of collateralized agents and onchain verification through the Flare Data Connector.

Yes. The protocol has undergone independent audits from Zellic and Coinspect, supplemented by additional reviews from Code4rena and an ongoing bug bounty through Immunefi. Audit reports are published at dev.flare.network.

No. FAssets is the protocol that mints tokens such as FXRP. XRPFi is the separate DeFi ecosystem at xrpfi.flare.network where FXRP and stXRP, once minted, are used across Flare DeFi.
Mint FXRP