FAssets

Securely explore XRPfi, BTCfi, and DOGEfi.

Bridge, trade, lend, and stake for greater liquidity in one DeFi hub.

Mint with Oracle Daemon Mint with AU Developer Support

Securely explore XRPfi, BTCfi, and DOGEfi.

Bridge, trade, lend, and stake for greater liquidity in one DeFi hub.

Mint with Oracle Daemon Mint with AU Developer Support

On this page

What is FAssets?
How it works
Start building with FAssets
Use cases
Securely explore XRPFi

What is FAssets?

FAssets bring non-smart contract assets like XRP, BTC, and DOGE into DeFi — securely, scalably, and with full custody retained.

Built on Flare’s core protocols, the system enables seamless, non-custodial minting of FXRP directly from XRP on the XRPL. The v1.1 upgrade unlocks unlimited minting of FXRP on Flare, greater capital efficiency, and full composability. FAssets v2 will extend this foundation by integrating Flare’s upcoming TEE-operated wallet protocol — boosting trustlessness and accelerating cross-chain minting and redemption via the advanced security guarantees of TEEs.

Live on Songbird and then Flare.

Live

Coming Soon

Coming soon

Mint FAssets with Minting DApps

Oracle Daemon

What’s new in FAssets v1.1?

Introducing the Core Vault

The Core Vault is a secure, multi-sig-controlled XRPL account that acts as a liquidity reserve for the FAssets system. It allows:

• Agents must deposit XRP to free up collateral, including stables and FLR on Flare or SGB on Songbird.
• Users to redeem FXRP directly for XRP from the vault (large amounts only; KYC required)

The core vault funds are time-locked and secured via escrow and multi-signature signers to limit daily withdrawal risk and ensure safety. Active bug bounties are running on Immunefi, and audits have already been completed.
More Capital Efficiency, Still overcollateralized

FAssets v1.1 maintains a strict overcollateralization ratio of over 2x, using a mix of collateral: FLR (or SGB), stablecoins, and the underlying asset to ensure the system remains secure and stable.

Thanks to the Core Vault, Agents can now optimize and reuse their collateral — making the minting process leaner, faster, and more scalable.

Learn more.

How it works: Minting flow of FAssets v1.1

User Initiates Minting: A user on the XRPL sends their XRP to a registered agent's XRPL address and pays a collateral reservation fee in FLR.
Agent Receives XRP & Provides Collateral: The agent, who operates on both XRPL and Songbird, receives the XRP and provides collateral on Songbird to back the minting. The collateral is a mix of XRP, FLR (or SGB), and stablecoins. The total collateral value must be at least 1.3x the value of the FXRP being minted, as required by the safety collateral ratio — ensuring system security and protection against price volatility.
FXRP is Minted on Songbird: Once the collateral is locked and the receipt of XRP is verified via the Flare Data Connector, the system mints the corresponding amount of FXRP and delivers it to the user on Songbird.
(Optional) Collateral Support from Community Pool: Additional collateral can be provided by liquidity providers via community pools. These providers contribute FLR (or SGB) to agents’ collateral reserves and, in return, earn a share of minting fees.

Start building with FAssets

Forge a DeFi hub for XRP, BTC, and DOGE with verifiable economic security.

Get started

import {IERC20} from "@openzeppelin/contracts/token/ERC20/IERC20.sol";
import {IAssetManager} from "@flarelabs/fasset/contracts/userInterfaces/IAssetManager.sol";

contract FAssetArbitrager {
    IAssetManager internal assetManager;
    IERC20 internal fAsset;

    constructor(IAssetManager _assetManager) {
        assetManager = _assetManager;
        fAsset = _assetManager.fAsset();
    }

    function arbitrage(address _agentVault) external {
        uint256 availableFAsset = fAsset.balanceOf(address(this));
        (uint256 liquidatedFAsset, uint256 obtainedVault, uint256 obtainedNative) =
            assetManager.liquidate(_agentVault, availableFAsset);
        IERC20 agentVaultToken = assetManager.getAgentVaultCollateralToken(_agentVault);
        swapToFAsset(agentVaultToken, liquidatedFAsset, obtainedVault, obtainedNative);
    }
...
}

Use cases: FAssets power a variety of DeFi use cases

Cross-Chain Yield Farming

Users can convert their BTC, XRP, or DOGE into FAssets and participate in yield farming strategies on Flare-based DeFi platforms — earning rewards in ways not possible on their native chains.

Collateral for DeFi Loans

FAssets unlock liquidity without requiring users to sell their underlying holdings. They can be used as collateral to take out stablecoin loans or crypto-backed loans on Flare-powered lending protocols.

Staking

With the upcoming staking protocol, we’re adding a native yield layer to XRP — not just through staking itself, but by making it composable, secure, and fully integrated with DeFi.
This lays the foundation for a new incentive economy around XRP, made possible by FAssets.

Securely explore XRPFi

Core Vault

At the heart of FAssets v1.1 is the Core Vault — an innovation designed to enhance system liquidity and scalability. It acts as a liquidity hub, allowing agents to deposit XRP and unlock their FLR collateral on the Songbird and Flare networks.

Enhanced Utility

By converting XRP into FXRP, users can leverage it in various DeFi applications on Flare, such as lending, borrowing, and staking — unlocking new earning opportunities.

Scalability

By reducing the capital burden on agents and enabling a more scalable minting process, the system now supports unlimited minting. FAssets v1.1 paves the way for broader adoption and continued ecosystem growth.