Native $FLR is now listed on @HyperliquidX.
"What does this even mean?"
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II. The thing is, @FlareNetworks' $FLR is the first token to be integrated into @StargateFinance's Direct Deposit feature.
Now, you can skip the bridge and skip the swap. It's just one click to deposit on @HyperliquidX.
III. "I'm wondering how it works on a deeper level?"
Well, $FLR is deployed as a HIP-1 asset on HyperCore, and the FLR/USDC market is registered.
The best way to deposit is via @StargateFinance by bridging directly from @FlareNetworks or any other network.
IV. "What does @FlareNetworks do at its core?"
With Flare's FAssets, you can bring your $XRP to cross-chain and earn yield through @Firelightfi (more markets will be coming soon).
"Do I get some synthetic tokens or what?"
V. Yes, $XRP is locked on the XRPL, and in return, you receive $FXRP, a 1:1 synthetic token.
FXRP can be burned at any time to redeem the XRP, allowing users to earn yield on XRP, paid in XRP, while retaining full custody.
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