Flare Brings Ethereum Compatibility to Stellar

Key Takeaways

  • Flare Networks has announced that it will integrate Stellar Lumens (XLM) as an F-Asset on its platform.
  • This will make XLM compatible with Ethereum-based smart contracts and applications.
  • Flare has previously announced integration with XRP (XRP), Litecoin (LTC), and Dogecoin (DOGE).

Flare Networks has announced that it will integrate Stellar Lumens (XLM) with its smart contract platform, thereby offering compatibility with the Ethereum blockchain.

Flare Will Link XLM and ETH

Flare’s decision to integrate Stellar Lumens means that users will be able to create XLM-backed tokens and use those tokens with Ethereum-based DeFi projects like Uniswap. This will be achieved through Flare Networks’ F-Asset protocol, which allows investors to transform cryptocurrencies into bridge tokens.



















While Stellar already supports native smart contracts, its own contracts are not compatible with the Ethereum Virtual Machine (EVM). Flare’s approach will overcome that restriction.

Other Flare Efforts

Flare Networks has previously announced integration with XRP (XRP), Litecoin (LTC), and Dogecoin (DOGE). Flare says that by onboarding various assets, it aims to achieve decentralization. It also aims to avoid maximalism, the favoring of certain coins over others.









The team has not clarified whether it will conduct an airdrop for XLM, LTC, and DOGE holders, as it has done for XRP and FLR holders.

Flare Networks is still in the testnet phase; the project’s mainnet is expected to go live by the end of Q2 2021.

Disclosure: The author did not hold crypto mentioned in this article at the time of press.

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Source: Read Full Article