Well the cap has been reached. Remember that the cap exists to limit risk because it is a new protocol. On both Songbird and more importantly Flare it will increase over time.
To collateralize 1.8 billion $XRP, Uphold will need $5,890,000,000 in backing. ~20% would need to be in stable coins and the rest could be $FLR
Imagine what a $4,644,000,000 $FLR buy order would do to the #Flare chart....
You are not bullish enough 🫡 Flare ☀️
Just a heads up on FXRP on Flare. We are waiting for one audit report and also because we want to launch with a very big bang, for Firelight to be close to launching before we send FXRP live on Flare.
Will keep you updated.
Went for breakfast with people that work in medicine (so many potential use cases in that industry). One of the guests was an avid Flare user.
Beware Flare people are everywhere!
We've had a little under 24 hours for the $FXRP cap hit to marinate.
If you're not angry over the fact that you won't be able to bridge $XRP to Flare until the cap is raised you probably realize two things.
1. The demand for $FXRP is palpable.
2. The 4 hour cap hit doesn't
🚨 It's Official, Increase Incoming! 🚀
#FAssets Minting Cap to Increase to 10,000,000 $XRP!
This cap will be split between 2 timezones to ensure everyone can participate in #Flare's budding #DeFi ecosystem:
⏰ 50% US Timezones
⏰ 50% Asia Timezones
🚨 BREAKING NEWS!
#FAssets Minting Cap Increased by 2.5M
If you've been wanting to mint $FXRP here is your chance!
👉 fassets.au.cc/mint
👉 fasset.oracle-daemon.com/flare
FAssets minting caps progress and the month ahead;
Week 1: 5m ✅
Week 2: 10m ✅
Week 3: 20m ⌛️
Week 4: 35m ⌛️
Week 5: 50m ⌛️
Week 6: 70m ⌛️
Next week’s cap doubling will be interesting ... will it fill as quickly as weeks one and two? 🤔
So you're providing liquidity for $USDT : $FLR
✅ You're earning fees with every trade
✅ You're earning 75% APY with $rFLR incentives
✅ You're earning FTSO Delegation Rewards
✅ You're earning monthly Flare Drops
Oh, and if the $FLR price goes down, you essentially average
XRP has long been a cornerstone of the crypto markets.
Its ecosystem and passionate community have driven innovation for over a decade.
Yet XRP remains underrepresented in onchain finance.
Flare ☀️ invites you to explore what your XRP can do next.
▫️Mint FXRP at:
>
Everything you can do now with FXRP - you’ll soon be able to do with stXRP.
From liquidity and lending to swaps and leverage, FXRP is your stepping stone to the full XRP DeFi experience.
Here’s how to start building your XRP's yield strategy 🧵👇