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Inside Flare: The Evolution of a Layer 1 with Utility at Its Core
Recorded: June 5, 2025 Duration: 1:02:31Space Recording
Short Summary
In a recent discussion, Flare's Victor shared insights on the evolution of DeFi, the launch of F-assets, and the strategic partnership with Anchor, highlighting significant growth and innovative trends in the blockchain ecosystem.
Full Transcription
Thank you. Thank you. Thank you. Okay, it looks like X-spaces is being funny again. I can't manage to get myself or Quantic
Flare as co-host. So we will have to proceed with just being speakers.
It's fine. We can be speakers and flow from there.
Okay, nice. I appreciate that. Thank you. and flow from there.
Okay, nice.
Appreciate that.
Let me just try one last time,
see how that goes.
But I don't have much hope, to be honest.
Yeah, I mean, with the spaces, you never know, right? There is always something. So as long as it works and we can listen to each other, I think it's fine.
Yeah, 100%. Unfortunately, this is the case. And yeah, Ilong if you're there
Please take now
And you know
Just let us finish the X-Faces
Please don't have music today either, which is strange.
But well, here we are.
Okay, so let's get started.
Although we can't set this up the way we like.
By the way, hi Mr. Minter.
Well, so yeah, hello everyone and welcome back to the show, the partner spotlights by Anker and if you've been
following along since last year oh yeah it's been a year already um you will remember that we had a
fascinating conversation with the Flare team about what sets them apart in the layer one space how
their unique approach to decentralized data could change the game. And well, a lot has happened since then.
So today we are really excited to revisit that conversation
and also, of course, talk about some new topics that we have on the table
with a fresh voice from the Flare team that you have just heard a minute ago.
And yeah, we'll be diving into what's new, what has evolved, and what's ahead.
We have Mr. Quantic here with us today, aka Victor.
And yeah, he'll be joining us today.
And I'll let him introduce, well, let him in this case introduce himself.
And yeah, first of of all thank you so much
for being here victor and let's um yeah kick things off with the quick intro so can you tell
our listeners and well myself as well right about um your role at flare how you got involved with
the project um also if you of course feel comfortable with it um when how you join crypto what do you think of
the industry yeah absolutely thank you so much for the invitation Sergio and thank you for the
anchor team uh you guys are one of the top info providers in the space so for me it's really an
honor to be here uh with today. Like, actually,
you guys are like, kind of one of the first infra providers that I got to learn about when I joined
Crypto back in by the late of 2020. I was doing a PhD in physics, and I got invited to work on a
project that was trying to use neural network to predict the price of Bitcoin. And then I learned about, you know, Satoshi's paper and about the concept of a blockchain.
And really, since then, I've been getting more and more involved in this space.
Before joining Flare, currently I work as a content specialist, which but really what
I do is like developer advocacy and like a dev rel essentially, right?
For people that are not aware how this works.
But we focus on content and marketing for developers.
And prior to working at Flera, I worked at Medis as a dev rel.
And I've been actively participating in the Web3 ecosystem since I started learning about
blockchain and solidity and whatnot so uh
it's it's great for me to uh be here with the flare uh because i think that they like flare
represents an evolution on how we must think about blockchains uh specifically because with Bitcoin, we got this notion of the store of value, right?
And peer-to-peer transactions and whatnot.
Then with Ethereum, you can think about programmability.
And with Flirt, you can think about programmability plus native data.
And I'm 100% convinced now that we have not yet seen what are the implications for this.
For programmability, I think the biggest implications, we are already seeing it with the explosion of DeFi, stablecoins, and a bunch of other decentralized applications that are really innovative.
But when it comes to the next step, which is having native data protocols, I think we are very, very early. And for me, that's particularly exciting because that means that there is a sort of super dub that we still have not yet seen, most likely, and will probably be built on Flirt.
Wow, loved it. And also thank you for the kind words, Victor. It is definitely an honor to have you here today as well. And yeah, I loved it. It's always great to hear how people found their way into Web3, into cryptocurrency, blockchain technology, right?
Well, especially as well when it's a project that is as innovative as Flair.
And I'm really sure that today we will learn a lot from you.
Maybe not on physics, which is another really, really interesting topic.
And I think if we ever meet in real life, I'm probably going to have a lot of questions.
I have kind of a curious mind.
So, you know, and always been kind of interested in physics
But, well, you know, life takes us in different paths, you know
And, well, never had a chance to, like, really go and deep dive into that
But, yeah uh sorry about that um it's been
a while since we last had flair on the show right and can you catch us up on how the network has
evolved since then um we are talking i think it's 12 months from from today well from now um
maybe a little bit more, a little bit less.
What milestones or changes are you most excited about?
Yeah, that's a great question, because if I look back at Flare,
notice, though, an important point that I do in Flare about one month and a half,
so not that much, but I had enough time to explore the story of flare the history of flare uh so since that time there has been pretty much a sort of revolution
inside flare in the sense that interesting yeah because we evolved it from a sort of uh building these uh basic uh well not basic complex data protocols to to be able to bring
what to data on chain and from other chains into flare as well um and now we have a full
defy ecosystem with booming stable coins uh multiple protocols you can find pretty much every kind of product that you can think of on the DeFi side.
And now we're moving hard into the sector
of interoperability with XRP-Fi,
which will allow people that are holding these assets
like XRP, right?
And from other non-smart contract chains
like Dutch and Bitcoin, very importantly as well,
to actually have access to DeFi on EVM, right?
I think that that is something
that cannot be underestimated.
We all have seen the effects on DeFi
on the crypto industry,
but we have not really seen the effects
from these other non-smart contract
platforms when they can really have reliable access to DeFi on the EVM side.
And I think that this is only possible because you have built the foundations which are enabled
by these data protocols.
We will, of course, talk about this in detail in a few minutes. But essentially, I just want to highlight here that blockchains are isolated system by nature, meaning that whatever happens on the blockchain happens there.
And then it's not trivial to communicate that information outside and also to bring from the outside world information into the chain but it is something that is much needed if you want to build
any source of application that is data rich and if you think about it most cases uh you know you
you will need to have some sort of data solutions to communicate with your tab right uh so i think
to summarize we have seen uh the boom of the stablecoins and DeFi on Flare.
And now where we are headed next with F assets is that we will see the use of these tokens from non-smart contract platforms working seamlessly on Flare and having access to opportunities on d5 that before were not possible right so i think
this is a pretty interesting time to look into flare and to start thinking about what are the
kind of solutions that you can build if you can have native oracles right and shiny oracles in
your network and how you can leverage these to make things more efficient right we all know that if
you spend quite a lot of time in crypto as i do moving funds from here to there finding the best
yield opportunities and whatever is still a huge pain it's really it's not something that you can
actually do at scale right but we are heading into a future in which this will be inevitable.
This is going to happen.
And I think that with FLIR, we are really at the frontier of providing this solution.
Still, we are not quite there yet, and we're going to discuss what needs to happen in order to get there.
But yeah, I think that this kind of summarized the evolution from having these native data protocols into now interoperability that relies
on these fundamental building blocks to communicate information.
Well, yeah, exciting. Thank you, Victor, for going so much into details. And yeah, it's especially
exciting to hear as well how the vision is turning into some tangible process, progress, right?
Sorry.
And yeah, it's been only a year you have done all that.
It kind of sounds like, you know, when you talk to some friend or colleague that it's been a while since you last spoke to them and they'd be like, oh, I got married.
I have a child now and last spoke to them and they'd be like, oh, I got married, I have child now and whatnot.
Yeah, you have your hand raised?
Yes, I did because I wanted to actually ask you, like, what are the updates on the side of Anchor?
Because I have to be honest with you guys.
I always, like, in my mind,
you're always like one of the main RPC providers.
So I want to know like, what are you guys working on?
So I'm taking advantage of this space for that,
if that's okay.
Nice. No, yeah, a hundred percent.
I think it's fair for you to ask as well.
You know, we take these sessions as a kind of an AMA style.
So yeah, I I mean I think
it's fair you know to get a question as well and well I see mr. Minter there
are they're both here if you want to try me at any point please let me know and
well at anchor there are many things going going on always I think you know
it's the internal chats are always super interesting to read.
But from what I guess I can share, not that I know a lot of secrets, though.
So we are always working, you know, on bringing up more and more protocols, chains, projects, you know, call it whatever.
you know, call it whatever, from last year, in the last 12 months, I don't remember the numbers exactly,
but I recall saying something like during our, you know, these Partners for Life sessions like this one,
saying something like, we are celebrating onboarding 60 chains, I think, or something like that.
And right now we have over 80, if I remember correctly,
counting, of course, the testnets and mainnets.
And so that has been one milestone.
And then, of course, we always have our liquid staking solutions that we you know we
onboard some assets and in the last 12 months let me I think we onboarded flow we onboarded
what else we onboarded I'm sorry sometimes, sometimes, you know, like, sometimes I try
to think, like, within the last 12 months, exactly, which things have been, I've been
in, you know, and, yeah, I think so, AnchorFlow being one of them, I'm sure there's another
one, I just don't remember right now, which one it was, and then last but not least, of
course, we've been working with Neura, which is among the listeners list. Neura is going to be a brand new layer one, which is based on the anchor infrastructure. There are many very interesting things happening over there. And we have part of the anchor staff also involved in there.
And, well, we have part of the Anchor staff also involved in there.
There's a very, you know, kind of innovative, I don't know whether to call it a product or what,
but which is RPC5.
I unfortunately can't share a lot about it because, well, it's kind of innovative for us internally as well.
But, yeah, that's another big one, which is Neura. We are partnered with them.
And yeah, I think in a, well, also I think it was within the last 12 months, we also
launched the Rollup as a Service, which is another great product that has been really
well received by the customers. Let me think what else?
I mean, that's not a short achievement, right? Like I'm reading right now your website at
Anchor and I see the product section. And like I said, I remember you guys from the RPC thing,
but now you have like these scaling services, launch your dedicated roll-off or sidechain.
It's quite amazing.
And you have also staking solutions and whatnot.
So pretty impressive.
Yeah, thank you so much.
Yeah, I think in the last 12 months,
that has been it.
Maybe, you know, it comes from a little bit before,
but that's all pretty new.
And well, you know, we have other Anka team members around,
so, yeah, if you would like to chime in,
maybe something I forgot, whatever,
please let me know, request to speak,
and, yeah, you're more than welcome to.
And, well, back to Flare.
Sorry for, you know, taking all this screen time or stage time.
You mentioned three keywords in your last answer,
which is the Oracle and then the FA assets or F assets.
I'm 100% sure what's the actual product naming.
I think it's FA assets.
And then also you mentioned data and connections.
So I'm going to start with the Oracle.
Back in 2023, we spoke about FTSO as a core differentiator,
which I believe it's Flair's native Oracle system, right?
How has that system matured in the past year?
And do you have any examples of how, you know, real world or community-driven data
has enhanced apps, services on Flair?
Yeah, absolutely.
So let's clarify here a few things. In terms of like main products for Flare, which is an L1 EVM compatible, by the way. I'm saying this because I see some people, for instance, in Prague, some developers were asking me if we were like an Oracle, right? And that's not like technically correct. We are a chain that has enshrined oracles and we're going to talk about
that next um so you ask so there are two main uh systems for data on on flare one is called ftso or
flare time series oracle so uh here think about price feeds uh you want to get the best out of it
of course and this needs to be
decentralized relatively fast, and of course, has to be completely reliable, right? If it's
not decentralized, very important word that sometimes people take as a meme, you know,
you can get certain things to happen that we have observed in the past with other partners,
right? Sorry, not partners, with other ecosystems,
let's say. I think you guys know what happened with price manipulation in one of these larger
DEXs and whatnot. So I'm not going to go into details because that's not the purpose, but
you need to have a decentralization if you want to have really strong security guarantees.
And that's something that for me,
it's not something that you can just give up.
Of course, there are other design principles
and people have different choices and whatnot.
But I personally think that's one of the main things.
And this is provided by the Flare at Time Series R.
So where you would use this,
so if you have any sort of DeFi application,
like all of them, they need to update prices of assets and whatnot.
So you need to rely on Oracle in order to do so. We have a native integration to do this.
It's fairly, I would say, straightforward to implement this.
If you're used to working in other ecosystems with doing these calls to other oracles, you
should be able to do this fairly straightforward in our ecosystem.
And maybe two things that are worth highlighting about this is that the major kind of upgrades
that I think are important on this second version that we have because we are right now at FTSO version two,
which I think is going to be the final one, at least in this short time.
What we did is essentially to reduce the block latency to under two seconds and also introduce
some certain minimum conditions criteria for data providers.
We have about 100 or I think over 100 data providers,
independent data providers,
and they have to meet certain criteria.
For instance, 80% uptime and certain accuracy of,
you know, a percentage consensus ban for price feeds
and whatnot, right?
In order to get this reward, right?
And yeah, like I mentioned,
I think that the real world
adoption is kind of evident. You can take, for instance, Kinetic, one of our lending platforms,
or Spartex, one of our main DEXs, and they both rely on this kind of FTSO price feeds to calculate
the interest rates or for doing the swap with the pricing accurately and whatnot. So this is really infrastructure that, you know, it doesn't sell too sexy.
I understand that, but it's really the kind of fundamentals that you need
in any ecosystem if you want to do DeFi at, you know, at a very safe rate
and very reliable, I would say.
So yeah, this is kind of where we are with the FTSO.
Then we can maybe talk later about this other Oracle protocol,
the FTC, but for now, I think this is pretty much
what I should share about the FTSO that I just mentioned.
Was it clear?
Yeah, no, 100%.
That's a great, you know, reward application reading, right?
And always encouraging to see that things are not just being built,
but also there's some things happening with them, of course.
And yeah, 100%.
That was great.
Thank you, Victor.
I remember when I first like read or heard about the oracles, you know, I was like, oh, why do you need them?
You know, like, why don't you just go to, I don't know, CoinMarketCap, CoinGecko, whatever, and you check things there, you know.
But then, yeah, I mean, I was a bit naive, you know, silly.
And, yeah, then eventually I checked, you know, and I read a bit more.
And I thought, oh, damn, you know, it's really helpful.
And they're definitely necessary, you know.
And, yeah, I think anyone who listens in to these partners, spotlightlots, to the X faces, they're going to get that.
And, you know, they won't need to make stupid questions like I did in the past.
Yeah. So let's shift gears a little bit, as you said, and move on to the FA assets.
fa assets so um oh just uh you know i think a really really basic question what are they
So, oh, just, you know, I think a really, really basic question.
how do they fit into flair's vision of uh you know connectivity and utility across blockchain
yeah so uh okay let's go back maybe uh to kind of the fundamentals think about this we have uh
Think about this. We have a native Oracle, so we know that we have reliable data.
So what can we do with this? Well, we can rely this infrastructure to do more interesting things that are interoperable.
And here's where F assets kind of comes into play. So in very terms if assets are you know sort of synthetic tokens
backed by uh one-on-one by non-smart contract assets so we're gonna take here as an example
xrp because we're right now very focused on on this and
you would be lucky to um you were breaking up a little bit uh for a few seconds like
at my on my end maybe 10 seconds i don't know for everyone else
oh okay so i should repeat what i just said um yeah i think your connection is uh pretty stable right now uh we just had you know breaking up
okay let's give it another shot and if still doesn't work we can confirm with the rest of
the people what do you think yeah okay thank you sir yeah all good so uh like I mentioned
F assets are synthetic tokens back one by one by non-smart contract assets.
So think about XRP.
And this would be, in principle, locked into a multi-signature core vault.
We already did the launch of these F-assets on Sunbeard.
It was quite well received, meaning that we had a minting cap and we reached that within a couple of hours.
I don't remember exactly how much time, but it was really something impressive.
That means that there is a strong demand for doing DeFi with XRP, put it in simple terms, right?
So again, this would enable any XRP holder to mean a DeFi representation on Fl and participate in i don't know uh all the all the
interesting things in defy right lending and liquidity provision and we will actually see the
uh synthetic stable con creation at some point and uh yeah i think that in the broader vision
if assets is you can you can think about as a sort of bridge between
legacy chains and Flur's data kind of optimized environment.
We are essentially wrapped in tokens in a native .
We can hold chain, repeatability, and deep liquidity that would be you know feeding into flares uh
vision of becoming like the blockchain for data but now we have interoperability with real world
let's say token utility right so if you think about it there is a huge inefficiency in the market
i i mentioned this before uh in other interviews in which we have these large institutions that are holding xrp
sitting on those assets and doing absolutely nothing so imagine what they will do once they
can start doing d5 right they can have the staking they can have restaking and all the kind of
interesting games that comes when when you enable those things. So I'm very excited about F assets and how we can now start seeing that we need these
fundamental blocks, these native data protocols in order to build things that are more advanced.
Right.
Because let me tell you that all of this F assets thing is highly non-trivial.
If you look at the documentation, you can see the whole system,
how you lock your tokens, give it to an agent.
We have over-collateralization so that it's safe,
and users can deposit with strong security guarantees.
And then, you know, enjoy from DeFi opportunities, right?
Which is something that like
i said it unlocks uh something that is very inefficient right now and i think it has great
potential because we have all of these institutions they're doing nothing with their assets
all right um yeah that makes a lot of sense and actually i have one follow-up question um kind of
which is are end users also going to be involved in this or is it at the moment only for um
for the um institutional ones oh yeah this is a a very good question. Because, you know, we usually hide like institutions because for XRP is, you know, we know that we have large institutions that are looking into this, but everybody is welcome to participate. Myself, I do have XRP and I'll be testing. I'll be participating in this just as a regular user.
And I'll be testing, I'll be participating in this just as a regular user.
And, you know, I have the same issue with Bitcoin, right?
I hold Bitcoin since 2020.
And I've never been able to do anything with this asset because, you know, you need to be safe.
You need to have a strong security guarantees in order to do something with this asset.
Now we will have it.
We will have it pretty soon.
So I'm really excited about this.
And it's such a pleasure when you work at a company in crypto that is actually solving
problems that you have, right?
So I would encourage everyone to at least give it a read to the documentation.
Think about this idea, because I think we will see a lot of innovation
on this space coming from this kind of solution.
Yeah, 100%.
I was asking because I am a sad end user.
I hope it's okay to say it over here.
I don't think it's a huge one, right, since XRP.
I think, you know, people just hold it, and I'm also a holder.
So I was thinking, you know, if this is open to end users as well,
I might going to give you the check.
So, yeah, thank you for that, Victor.
And also, just for context, for everyone in the room,
and, well, of course, people who are going to replay this episode.
Victor mentioned Songbird, right? And Songbird, just for context, is Flair's Canary Network.
A Canary Network is kind of similar to a testnet, but there is a key difference she says so of course canary network is a still an innovation
space you know um and there's like new features implemented developments but it is a real
environment so there's uh real money you know real like real things and please victor correct me if
i am wrong so um i remember i think that's an interesting point yeah you are
totally right like it's a canary network and i'm learning from our community i must say here
because since we have tokens that have real value we have a sort of movement of some beer some beer
holders that they want to see the growth of that ecosystem as well right uh I I've been explicit in
the past as to uh you know the goal here is flat magnet right uh yeah but that being said it is
permissionless so anybody can come and build whatever kind of solution is uh taking place
on on Sunpeer and and then deploy contracts and deploy know, play with it and try to grow that ecosystem as well.
I think it's going to be interesting to see that relationship moving forward, especially as Flare grows with the F-Assets launch with XRP5.
I wouldn't be surprised if we see some crazy experiments on Sunbeer as well.
Oh, nice. Yeah, of course, not financial advice from me or from Victor.
And of course, if you have, you know, people with different levels of risk tolerance,
should, you know, either go for the Flare mainnet or the Sunbird cannery.
Here, I want to brag a little bit.
I actually learned what the Sunbird is from Hugo, from Hugo Pillion, from the CEO.
Yes, I'm good to know that what he told me back then is still accurate.
Thank you again, Victor, for the overview on the FA assets.
I've been calling it FA assets.
Sorry about that.
And yeah, what I was saying, it makes a lot of sense,
especially in a world that's increasingly multi-chain
and that will continue to be multi-chain
by what we are seeing currently.
And yeah, so continuing on that thread of usability,
another question I had is, well, another topic I wanted to touch on is the Flare data connectors or the FDC, right, which is another big focus for the ecosystem.
You have mentioned it a few times already throughout the session.
So what is it?
What kind of possibilities, you know, does this unlock for developers, end users, institutions?
And yeah, how does it also build on or integrate with what Flare has already delivered?
Yeah, so this is the other crucial data protocol that we have at Flare.
So the first one is the FTSO. We already have the V2 with FTSO and
things are looking good with that product. And then it comes, what can you do with the FTC or
FLIR data connector, right? And here is where I think a lot of the magic will happen. And we're
already seeing some of these potential applications, right? Because essentially what the flirt data connects connector allows you
to do is to prove that this one bring data from the outside world to to flirt in a sort of verifiable
way right and uh with this you can start thinking okay for the f assets for instance you will have
two chains right you will have xrp and you will have Flare. And the
way the system works right now, you will have to lock some tokens on one side to mint tokens on the
other side. But then how do you communicate that information that comes from chain A to chain B,
right? If you think about it, again, blockchains are naturally isolated. So you need to have some sort of way to rely on this information.
In this way to do it, we use actually the FTC, right?
So we can not only bring Web2 data to Flare and verify things,
we can also do it with other blockchains as well.
And these are the fundamental pieces, like I mentioned before,
if you want to communicate information uh in in
in this sense right so you see how how you can utilize this kind of technology to think about
interoperability in a in a different way uh well the thing is that uh one of the main applications
that we are are seeing right now from i i can share this from the perspective of going to
this hackathon that I was participating in with during it Prague the last weekend you can import
for instance any JSON formative off chain data so imagine any sort of web to API or like I mentioned
before from other blockchains or maybe even even IoT feeds, whatever, into smart contracts,
and you will have cryptographic proofs that you can verify things that happen off-chain into the chain.
So, I don't know, think about the most simple kind of applications, not only for Web2 APIs,
but also for verification of credentials, right?
In Web2, we have verifications of credentials all the time.
Then how you communicate that to the blockchain well you use uh one alternative is to use the fdc
right and so then you start thinking about whether the possibilities i don't know you have a bunch of
possible applications and that's why i always say like pay attention to this because from from
these kind of applications some of them are not sexy at all
but i think that big solutions can come out of this if we do things in an efficient way so uh
we have some example with trustless insurance uh we have uh you know you can have on-chain sports
betting with real-time scores you can have of score uh supplying chain tracking based on this off-chain information right and in the future
we will have also something called protocol managed wallets that will extend the flares
consensus to execute transactions on other chains and it will rely on the ftc to confirm
off-chain events before signing these cross-chain messages. So in this way, the FDC turns like every sort of developer
into a data scientist, right?
They can ingest, verify and act on real-world data
without having a third-party Oracle.
Remember that this is natively integrated with the chain.
And so you can have a wide scope for on-chain logic that
goes far beyond only the uh price feeds which is what we usually see on on webtree development
these days right most of people are using price feeds for doing defy that's okay but now what you
can do with web2 data and blockchain yeah I mean that sounds like a huge unlock right um especially for
teams or i'll keep saying teams developers uh but they're all users in the end right that
want or need this real world data um or these events, that trigger smart contract logic. I mean, it sounds super powerful, to be honest.
And I was going through the Flare feed,
shared some things that I think could be interesting to the audience.
And we also have a question from hand.eth,
which is directed at you, Victor.
So they say they can't join at the moment.
But they have a quick technical question,
which is how are collateral ratios determined in the asset system
and how are user funds protected in cases of over-collateralization?
Collateralization, my bad.
Yeah, it's a complicated word uh so about the ratio i've seen a lot of people asking about it this is essentially something a parameter that you
can you can we and you know play around uh so i don't right now my take is that we shouldn't be
focusing too much on this i know that some some people say, yeah, you know what?
When you change this, you change the amount of flared that people have to hold and whatnot.
But I think that at this moment, guys, what we really want is for people to bring their XRP and do DeFi with us with less amount of friction.
So that should be our focus.
So how you have to configure the ratio for that,
whatever, you have to focus on something that is efficient, right? Rather than just thinking about,
I know that you guys are thinking about the token value and whatnot. And like I said, this is
something that you can adjust and it's also going to change over time. So right now the focus should
be on onboarding, right it easy and uh and then
on the security side yeah over collateralization essentially means that if something goes wrong
uh you know if because you're from the xrp side you will be uh having to lock your tokens and
there will be an agent that will be in charge of certain operations. So this agent will obviously take a fee.
So that's why they are incentivized.
But at the same time, they have to put a certain amount of collateral such that if they misbehave,
the user that can see the impact of this misbehavior can get their tokens back and they can get
a premium on that.
So all of this is already considered into the system.
And this is exactly one of the reasons
why this is so safe.
It's just because from the game theory perspective,
there are no incentives to misbehave,
which is something that you always have to take
into account in crypto, of course.
So yeah, and this is obviously managed
or not managed, but related to the ratio of
collateral that you are setting. And in the past, we saw that the ratio that we had, I don't remember
the exact number, but it was too capital intensive, let's say for the agent. So the incentives were
not the best. And again, like I said, I think that right now we need to focus, of course, on the
security. So security, you get it with with over collateralization you need to ensure that you have enough funds for users in
any case but then the ratio itself you know you have to play around with that and find the best
solution in terms of efficiency all right fair enough um yeah thank you again, Victor and Han. I hope that answers your question.
Oh, I see there's actually a follow up, which is with the V 1.1 upgrade to F assets.
How does Flare ensure secure and scalable onboarding of assets like XRP and BTC into DeFi, especially as verified contracts and stable coin flows increase?
as verified contracts and stablecoin flows increase.
Yeah, Han, I already replied to you on that sense.
So I actually don't understand, like, what is really the question?
Can you repeat it maybe, Sergio?
Yeah, let me check.
I mean, I think probably he was typing the question while you
were answering um looks like that i think uh but the question was um how flaring shorty you know
onboarding of the assets um i especially mentioned to the verified contracts and stable coin flows
increase yeah let's talk about how to reduce the friction i think that that's an important point And I especially mentioned to the verified contracts and stable coin flows increase.
Yeah, let's talk about how to reduce the friction.
I think that that's an important point and how to attract users, right?
So, okay, obviously you have your assets.
You want to protect your assets.
In order to do anything with your assets, if you're going to test anything, you need to have incentives, right?
So what are the incentives? The incentives the incentives will be in principle the yield that
you can get on an asset that has zero yield right so i think that that's a key point here that we
should stress uh we should stress out and the other thing like like i mentioned before in terms
of like the security and whatnot yeah this is something that you manage with the over collateral
system and the ratio between how how much asset do you need to have
for the collateral, right? On one side and with respect to your XRP. So I think that this pretty
much summarizes what Han was asking. Nice. Thank you again, Victor. I think I also shared,
it was actually by accident, but a post from Flare Network that well my also help answer the question
on you know why the F asset system is secure and I
see a hand
special mention on the
verified contracts in well, I assume you know of all, smart contracts and for every rule automatically, as the post says.
And regarding the smart contracts, I assume there are audits in place, internal, external, you know.
So, yeah, on that regard, I think it's a common practice in the industry already at this point.
I think it's a common practice in the industry already at this point.
Yeah.
And, well, I see Victor saying 100%.
So I think that's the case.
And now moving.
So thank you, Han, for the questions.
And thank you, Victor, for, you know, going through them.
Another question that comes also from the community,
this time from the Anchor community.
In this case, not super specifically towards Flare,
but I typically adapt this question
so that our partners can share how things look like
from their point of view.
And people often ask us,
how does Anchor support XYZ, you know, behind the scenes?
When you do a partnership,
is this just a handshake emoji and that's all?
You know, do you guys just do some marketing around it
and that's it?
So could you share some perspective on our collaboration,
you know, the value that Anchor might be, you know, bringing,
or, you know, how Anchor is helping or assisting, you know,
flair in, well, in succeeding?
Yeah, absolutely.
Like, I've mentioned this also on one of my posts in the past,
because, okay, people say people say yeah this is the
logo for logo kind of thing and uh yeah even that i i want to shed some light into it because it
does have a lot of value i i don't think an anchor is you know promoting any any project right on
their socials right you guys have a reputation you are one of the main players in the infrastructure
side of things. And the fact that you guys are collaborating with Flare and advocating
for the growth of Flare really says a lot of the kind of relationship that we are building
that goes just beyond like the logo for logo thing, right? And also like you guys taking this
time to sit down with us and having this conversation,
of course, is another proof of that.
But then it comes to the support that happens,
let's say behind the cameras and whatnot.
Right now you guys provide excellent infrastructure
in terms of RPC.
Remember without RPC,
there is no way you can build
any decentralized application.
This is how you communicate with the blockchain.
So you better have a strong reliable rpcs and listen you can check this out on your own right
if you go to chain list and type flare you will probably see anchor there as one of the rpc uh
providers there and you will see like the the latency and you know how good it is uh they have their independent score and anchor is always like
on top and this is not myself like you know creating something out of thin air this is
something that you can verify on on chain list and you can do this kind of cross independent check
and and you will see the quality of the rpc of course, and how, you know, it's fundamental, really.
If you don't have good RPCs, what you can do with an app, as soon as you start having some more users, you will hit an RPC limit.
So that's very important.
And I think that the team at Anchor are very good at communications and are very easy to work with.
And I think that those things also shouldn't be underestimated
because it is not always the case, right?
So overall, I would say top infra, great brand value,
and on top of that, great communications internally.
So that would be my summary.
Well, thank you so much for the kind words, Victor.
I think all of that goes to our engineering team as well.
And yeah, I'm glad that they're being so effective and on the communication side.
I'm super happy to learn that know, happy with the performance.
And I'm sure that Mr. Minter is taking notes.
So, yeah, I appreciate the transparency.
And it's always helpful for listeners, you know,
and also for us, the community managers, right?
But, yeah, for them especially, it's really important to get to know more from you, right?
And to understand how these partnerships translate into real benefits for the ecosystems.
And well, I mean, in the end, you know, also the growth and development of the industry.
And yeah, thank you again for that.
And I'm super happy to learn that you know we are
doing an effective job and of course if at any point you have some sort of feedback complain
whatnot yeah reach us out at any time and now well I mean are hitting, we're going to hit the one hour mark pretty soon.
So yeah, I'm sure you're a little bit tired as well, Victor.
So some, some lighter questions regarding the future and what's ahead.
So what's on the roadmap for the rest of the year?
You know, what are we going to revisit in episode three in i don't know six months
eight months ten months any partnerships upgrades launches you're particularly looking forward to
yeah sure uh so two things uh i would expect one is uh what will happen with f assets once they
they go live i'm pretty sure that this is going to take bias turn
to a lot of people, even though we are shouting about F assets,
what you can do, what you will be able to do,
what is the solution, and whatnot.
It's different to see a post on social media
than experiencing yourself.
And when people start seeing that some of know, some of these big institutions are having
interesting deals on their assets on XRP in a very effective and secure way, I think that
we are going to get some quite decent traction. And then we will have also not only staking,
but also risk-taking of this asset. So, you know, you can imagine all the kind of
interesting things that are going to happen on the DeFi side. So that is one thing, but it doesn't
stop there. I think that there are some very, very interesting upcoming updates after F assets
with the protocol managed wallets. So like I mentioned before, this is about having the possibility of executing on
other chains and extending the consensus on Flirr in such a way that any application that is on top
of Flirr protocols built on top of Flirr protocols would have this possibility of execute on other
chains without having to breach assets. And I think that this is a completely separate talk.
It would take quite some time to discuss all of the aspects of this
and what it will be able to, you know, solve in terms of market inefficiencies.
Myself, I think I still have to think harder on the possibilities here
because it really becomes like this connect everything kind of vision
becoming a reality, right? So yeah, I think that the protocol management is something to certainly
look forward to. And I think that when that happens, we will see very strong, innovative,
new decentralized applications happening on Flare that are going to connect with these other chains
and find very good opportunities with probably the highest standards on security and decentralization
as well. So I'm pretty excited about that. I expect that in 10 months or more or less around
that time, we will have another combo about this and we will see what
are the results, right? Because, you know, it's one thing talking about this stuff and it's another
thing to see the results and see the effects. So yeah, those are my two main things, like seeing
F-assets live and staking and restaking for XRP. Personally, I'm also waiting for Bitcoin,
like I mentioned before. And then what happens with protocol managed wallets
yeah sounds like there's going to be
a lot to keep an eye on and you have plenty of reasons to
stay tuned as well so yeah if you're interested
don't forget to also give Flare Networks a follow
and also just a quick note for everyone Don't forget to also give Flare Networks a follow.
And also just a quick note for everyone.
This is pretty much all that I had on my list of topics and questions for Victor.
If some topic that you were interested in learning more hasn't been covered,
although today I think we covered a lot of ground,
this is the chance to either request to speak or raise your hand or whatnot,
or to send it to the comment section.
I'll be going through the comment section in a bit.
And yeah, just informing everyone that these are all the topics that I had on my list and I have
no more extra
questions for him
the only one
thing that I have
Victor is the wrap up
as we always like to
give our guests the final
word and it can be
a thought, a quote or a message
for the builders you know devs
end users curious minds um pretty much whatever feels right um yeah go for it yeah absolutely
i would like to give a message to the builders um it's very uh strange to see that in crypto
we see utility win right we always say speculation is what
dominates right attention and whatnot and i think that with flare we are certainly on a straight
path or maybe not that straight but a strong path uh to see utility win and take over and this means
an opportunity for you as a builder right because you know i'm talking about
staking and restaking of xrp and uh this is only the beginning right there will be multiple
protocols built on flir and i think that if you start thinking about this just by you know really
sitting and thinking hard about how can i make this even more efficient? There is a huge opportunity for builders to, you know, see utility win as well.
I know that a lot of them, they don't even like to have like tokens, right?
Because at that point, everything becomes about the token price and whatnot.
And they want to build cool stuff.
I understand that feeling.
I understand the feeling of building something cool and that people actually use it. In order for that to happen, you need to solve a real problem. And here with XRP,
this is exactly what we are seeing. So if you can be one of them, you should certainly take
that opportunity to grow as a developer, as an entrepreneur, and who knows how far you can get.
And of course, you will have my support as well you can
always dm me that was perfect yeah thank you so much victor um i'm just going through the
comments section because we received a couple more comments and we have chef benno saying i
was thinking of a variable over collateral collateralization slash premium or three options.
I'm not 100% what our chef is referring to.
Maybe you know what this is about?
I know the general context because what I've seen is that this is the ratio of collateral
and whatnot is something that has
sparked a lot of interesting conversations among the uh members of the community i'm a program
right so i i don't i'm not even looking at those details i'm sorry about that i'm just thinking
about the big picture and the big picture is bring those assets from xrp Flare as fast and as easy as possible.
We can figure it out, the collateral ratio and whatnot.
We will certainly, the team will, right?
We have a strong team, technical team, a lot of smart people, business people and whatnot.
So, you know, there are some reasons as to why we have that value.
I don't know if that's the correct or not.
I'm just saying the focus should be on getting people on board as soon as possible.
Fair enough.
And I'm sure there are also places where this discussion will be probably ongoing.
You mentioned your community channels.
Where are you on?
So I'm mostly here on Hex, hex of course but i would suggest to join uh obviously follow flare and join the telegram that flare has
we have a discord and we have a telegram group there you can spark that conversation and you
know maybe you can engage with the moderators but most likely the best thing to do is just try to
engage with other community members and remember the the best thing to do is just try to engage with other
community members and remember the big picture is what matters in the end right we need to win xrp
if i we have all the ingredients and we need to remain focused on that that's another nice quote
the big picture is what matters um and yeah we have another comment from Faril, which is, you know, he's available,
I think we definitely have the minds, you know,
that can write that case study.
And if there's the bandwidth, you know, and there's the chance,
I think we definitely will do that if, you know,
if all parties are available.
I see Victor reacting with a 100% emoji,
so yeah, I think he agrees.
And well, Victor, again, thank you so much.
And that was, I think, the perfect way
to close today's session.
Also, for one time, I managed to keep it
within the 60 minutes that, borrowed Victor from the Flare team.
And I'm ready to give him back to you guys.
Thank you again so much for joining us, Victor.
Thanks to the Flare team for allowing us to borrow Victor, a very, you know, valuable team member.
And yeah, thanks to everyone listening
and make sure to follow Flair's journey.
And well, if you get lost at any point, don't worry
because we will be back in 10, 12 months time.
And then we will have Victor or well, somebody else
if Victor is not available to, you know, again,
revisit what we spoke about today
and uh to also give us an update and you know whatnot um we'll catch you in the next one
thank you sergio and thank you to our audience for for listening and for the for the interesting
question and to the anchor team so let's keep building yeah nice let's keep building thank you thank you victor take care
bye Thank you.
