Flare announced today that it will integrate Litecoin ahead of the launch of Flare Network in the second quarter.
This integration will allow LTC to be used with confidence on Flare-style smart contracts with Ethereum. It will give LTC interoperability and composability.
Flare also stated that in light of these developments, FLTC’s allocation of Flare tokens will be reduced. This will distribute FLR 5 billion to LTC participants. Further details on this reassignment to those participating in the parachute are likely to come next week.
Flare also worked to integrate smart contracts with the XRP ledger. He is expected to release tokens from that drop later this year.
The rationale for choosing to integrate with Litecoin, compared to other digital assets of similar size may come from the fact that after XRP. LTC was the second largest asset currently without smart contract capabilities.
The Litecoin Foundation said it was “very happy to see the capability of smart contracts and upcoming interoperability for Litecoin through Flare. ”
It also opens up the possibility of new integrations of this type. They would bring the DeFi ecosystem to all non-ETH coins in the near future.
To this effect, Flare Finance announced that $ FLR, $ FXRP, and $ FLTC will be supported and “heavily used” in the Flare Finance ecosystem.
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