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@KarmaCoverage Have you checked out XRPL Labs XRPL Hooks? Wietse says it is basically smart contracts for the XRPL.

 https://coil.com/p/XUMM/XRPL-Labs-is-working-on-the-transaction-HOOKS-amendment-for-the-XRP-Ledger-Supporting-business-logic/kEmqhoqMW

Write up from July, but he says that they will be releasing an alpha in the coming weeks with sample hooks etc.

I am not so technically savvy to know if this would align with your ideas or not. I figured this might pique your interest though if you are not already in the know. 

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3 minutes ago, Wolfparty said:

@KarmaCoverage Have you checked out XRPL Labs XRPL Hooks? Wietse says it is basically smart contracts for the XRPL.

 https://coil.com/p/XUMM/XRPL-Labs-is-working-on-the-transaction-HOOKS-amendment-for-the-XRP-Ledger-Supporting-business-logic/kEmqhoqMW

Write up from July, but he says that they will be releasing an alpha in the coming weeks with sample hooks etc.

I am not so technically savvy to know if this would align with your ideas or not. I figured this might pique your interest though if you are not already in the know. 

Yes, I even had a couple phone calls with folks I assume are in here. It definitely peaked my interest. My conclusion was that it is not as fully developed enough to be a usable tool. I'm not sure yet, need to read more, but I'm leaning towards "maybe Flare can provide Distributed Business Logic".

Hooks would likely make my Options on XRPL even more easily doable. My concern is that there is a need for the end of a foundational TX layer (XRPL), and the begin of the business logic / smart contract layer.. and XRPL should not try to be all things to all use cases. 

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On 10/4/2020 at 11:44 AM, KarmaCoverage said:

Alright, this is going to be quick and dirty, but I think an "Option" of sorts can be made directly on XRPL without the need for another smart contract platform.

 

Food for thought. We need Options, and other derivatives in Crypto. Obviously Smart Contract platforms are going to enable more sophisticated derivative contract terms, but I'm thinking that a basic American Style Option can be effectuated on XRPL without the need for an external Smart Contract platform.

 

Are you going to post this in every thread? 

XRP has a smart contract platform called flare. We're all getting spark, it can settle in XRP without destroying keys, without black holing XRP, without trusting the options writer with the premium. Without third party risk. Can be coded in solidity with any functionality AND that's what it's designed to do. 

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31 minutes ago, jargoman said:

Are you going to post this in every thread? 

XRP has a smart contract platform called flare. We're all getting spark, it can settle in XRP without destroying keys, without black holing XRP, without trusting the options writer with the premium. Without third party risk. Can be coded in solidity with any functionality AND that's what it's designed to do. 

Actually, the XRPL doesn't have a smart contract platform. Flare is a completely separate blockchain/platform/protocol. The Flare Network has its own network and token called Spark. The Flare team do what's called a "Utility Fork" of non-touring complete blockchains like XRPL, Stellar, BTC, LTC, etc to give these blockchain smart contract capabilities. They are starting with XRP/XRL first . A Utility Fork is not the same as what most would traditionally think a fork of a network would entail. Flare's Utility Fork is not meant to create a competing blockchain but is intended to "bring value back to the original chain" instead of moving away from it. The FCP is just what they call their protocol that is based on an Avalanche consensus algorithm (i.e. similar to AVA). Truthfully, Codius is the most native smart contract platform for the XRPL.

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8 hours ago, jargoman said:

Are you going to post this in every thread? 

XRP has a smart contract platform called flare. We're all getting spark, it can settle in XRP without destroying keys, without black holing XRP, without trusting the options writer with the premium. Without third party risk. Can be coded in solidity with any functionality AND that's what it's designed to do. 

Well, nobody has engaged in any meaningful discussion on the prospect.

Sure Flare can do more sophisticated business logic than XRPL can (it's purpose), but I think being able to do things like Options on XRPL creates a desirable base layer/ledger. Upon which more sophisticated logic can be built.

I'm not sure exactly where the line should be drawn, in terms of what should/shouldn't be on XRPL vs Flare but Options Settling on XTPL seems close enough to the Settlement Layer to be considered... if doable

I made the post in an effort to fact check my thinking against the community because I'm only 90% sure the methods would work. 

As for the Blackhole method I mentioned, I have thought about it more, and think the MofN method is better suited. Also, the method of blackholeing I was thinking does not lock up XRP, the goal was in combination with Orderbook TXs and designed to trustlessly ensure an outcome adhering to the terms of an Option contract.

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37 minutes ago, Flintstone said:

Do you have Discord? I’m sure @CountZerpula could provide you a link to Flare’s Discord where you could pick the brains of the team and find more people with a deeper understanding.

No, I looked at downloading it, but then got distracted. I guess its a thing now though, so I should go ahead and do that.

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54 minutes ago, Flintstone said:

Do you have Discord? I’m sure @CountZerpula could provide you a link to Flare’s Discord where you could pick the brains of the team and find more people with a deeper understanding.

Cheers @Flintstone:drinks: ... I can tell you that the Flare team has been pretty responsive and eager to engage right from the beginning. There’s a slight disparity between discussions on Telagram vs Discord, so it might be worth it to read through both, if you’re interested in any of this. IIRC Telegram was where most people landed initially, though at this point quite a few people have joined either group.

Flare Discord

https://discord.gg/m3qSpY

Flare Telegram

https://t.me/FlareNetwork

Additionally... you may have seen this post by @JannaOneTrick

Flare Finance, a project being built on Flare - same deal where the team is very involved and eager to answer any questions. There project is just in it’s initial stages, so there’s not a lot of info to go around, but they’re working on a ‘light paper’ now, to be released soon. Here are this links if interested:

Flare Finance Discord

https://discord.gg/fU5TVY

Flare Finance Telegram

https://t.me/FlrFinance

Without taking this thread too far afield, let me just post something I’d asked Anthony recently about the platform 

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