A lot of people saying “I told you so” don’t understand what this is. FXRP on Flare and all of its networks are fine. Just can’t move cross EVM ecosystem for now.
USDT, AUSD, Ethena etc. all paused their cross chain transfers while the LZ situation gets resolved. Every blue chip protocol takes safety first, as should we.
FXRP is tradeable on all of the existing chains it’s on. You can buy and sell dependent on DEX liquidity on whatever chain you are on. If you are on Flare, nothing changes. Can still redeem back to the XRPL.
We know our DVN’s were fine, but out of being 1000% sure, we are following the industry in their steps. Regardless of the weekend, or wee hours of the night, Flare is looking out for its users and FXRP holders. 🫡
As a precautionary measure, we are temporarily pausing FXRP cross-networking via OFTs between Flare, Ethereum, Base, and other supported networks while the rsETH incident is being investigated.
Users holding FXRP on non-Flare networks cannot currently redeem, as redemption requires assets to first be bridged back to Flare.
FXRP on Flare continues to function normally apart from OFT-based cross-networking. Minting, redemption, liquidation, and all other in-network functions on Flare remain operational. There is currently no indication of an issue affecting Flare or FAssets.
We will share further updates as the situation develops.