Updates from the FAssets beta program

The private beta of FAssets is progressing well. In April, Flare Labs plans to start opening the beta to the wider Flare community.

The private testnet beta of FAssets commenced in December 2023. Comprehensive testing has been underway on all the aspects of the system, ensuring an intuitive onboarding experience for agents and new users, plus validating the fundamental operations of the system: minting, redeeming, liquidating and challenging.

Flare Labs have now onboarded several additional agents to the beta and competitive tests are due to commence, including the simulation of market volatility to assess the system’s robustness under stress. Experienced infrastructure providers, who have supported the network as FTSO data providers since the early days, are also being asked to join the beta and support the tests.

Once this phase has been satisfactorily concluded, Flare Labs will open the Coston testnet beta to the wider Flare community. Coston FLR (CFLR) and testnet XRP will be required to participate. The open beta phase for agents is planned to commence in April.

For a behind the scenes look at the development process of FAssets, watch the latest video by Flare Metrics’ and FTSO AU’s Tim Rowley.