Vladislav Sopov

One more cryptocurrency may join the club of F-Assets, Flare-based synthetics. And this one is special for crypto history?

Initially, FXRP used to be the only basic asset in the Flare protocol design. Then, Flare Networks dropped a bombshell with its decision to add Litecoin (LTC) and, subsequently, F-LTC. Meanwhile, it was stressed that Flare is open for many other valuable assets. Guess which one is being discussed right now by the Flare community and administration as a candidate for the next addition?

Why do we need Dogecoin (DOGE) on Flare?

Yesterday, on Jan. 22, one Twitter user who goes by @RyanPrentiss mentioned Dogecoin (DOGE), the memetic Litecoin fork from 2013, as a perspective addtion to Flare’s ecosystem. The Flare team responded promptly and explained why the release of F-DOGE may be a smart bet.

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Flare Networks team considers adding DOGE as F-asset

Image via Twitter

According to Flare’s team, Dogecoin (DOGE) may be useful in the segments of digital art and non-fungible tokens (NFTs). Some commentators below this tweet added that Dogecoin (DOGE) is also supported by a passionate community and is mined by many Litecoiners.

Hugo Philion, CEO and founder of Flare Networks, the team behind the Flare blockchain, highlighted the parameters used to choose potential F-assets:

First the F Asset protocol should bring as much value as possible that exists in crypto to one place, Flare. Amassing value makes it easier for other markets to come to Flare.

As a result, the final decision about whether a certain coin should be added to Flare mechanisms as an F-Asset is always up to projects’ communities.

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Is Flare community ready for DOGE?

As such, Flare Networks published a poll to find whether the crypto community wants to see DOGE as the third F-Asset besides Litecoin (LTC) and XRP. At press time, almost 10,000 Crypto Twitter inhabitants have shared their opinions.

53% of Flare Community members are ready for the F-DOGE

Image via Twitter


While opinion is divided, almost 53 percent of visitors to Flare Networks’ Twitter page are ready to see F-DOGE as one of Flare’s assets.

As covered by U.Today previously, Dogecoin (DOGE) made headlines last summer. Thanks to the first-ever “TikTok pump,” its price rallied 300 percent in a few days.

This magic breakthrough even attracted the attention of Tesla’s Elon Musk. Meanwhile, DOGE erased all gains in September 2020 when the DeFi-inspired “altcoin season” ended.

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Flare Networks (FLR) Considering Adding DOGE as F-Asset. Why?

by Alex Dovbnya
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