Flare considering adding ADA as an F-asset

[Seoulite]

So we have this tweet from Flare:

Previously they asked twitter which assets should be added, and IIRC people said XLM, which is being added. I think they also asked if they should add DOGE and ended up doing it. I think this tweet is proof that they are at least considering adding ADA, and given that the vote is currently 80% in favour, they might end up doing it before the network goes live.

I was sceptical of adding DOGE at first, but it turned out to be a very smart move. I am in favour of adding ADA, because it is the hot coin right now, but also it shows that Flare can integrate with anything, not just non-smart contract platforms. 

My only fear is that if there are too many F-assets available at launch, the system could be shaken by the amount of value required for them. I'm a little surprised they have asked this, but they are obviously confident that they could do it and that it wouldn't affect the system in a negative way.

What do you guys think?

 

[brianwalden]

This move doesn't make sense to me. I thought I had the pattern down. Popular dumb coins that had their own native ledgers with relatively fast and relatively cheap transactions.

Cardano is a smart contract ledger, right? It even has ADA staking for interest, no? What can Flare add to ADA that doesn't already exist on the Cardano ledger?

If they make FADA, I will question what the Flare Network is all about. I thought they had a symbiotic philosophy - that both ledgers would benefit by providing smart capabilities to coins that become F-assets. An ADA F-asset may mean that they have a parasitic philosophy. They're just using F-assets to suck in all that value from other ledgers. I'm not judging, I'm not saying this is bad, it's just different than what I understood Flare to be aiming for.

I'm hoping this is just Flare using social media to get some likes and retweets.

[Seoulite]

29 minutes ago, brianwalden said:

Cardano is a smart contract ledger, right? It even has ADA staking for interest, no? What can Flare add to ADA that doesn't already exist on the Cardano ledger?

If they make FADA, I will question what the Flare Network is all about. I thought they had a symbiotic philosophy - that both ledgers would benefit by providing smart capabilities to coins that become F-assets. An ADA F-asset may mean that they have a parasitic philosophy.

I actually quite like it as a flex move. As I said it also signals that Flare is for any asset, not just non-smart contract assets.

What can Flare add? Functionality with EVM applications. AFAIK Cardano uses its own programming language.

As for the symbiotic relationship, personally it doesn't trouble me. I don't see why Flare should stick to their corner when there is no reason for them to do so. If Flare is better than ADA, then people will choose that. I have no problem giving people the choice. 

I understand that people feel warm and fuzzy when they talk about everyone getting together, but from what I see it is mainly XRP people who say this and mainly XRP people who get shit on by others. I think when Vitalik said XRP was a sh*tcoin when the SEC news came out something broke inside me. There is a certain darwinian dynamic to any ecosystem. If Flare has the power to take chunks out of its competitors, then it should do it. 

Having said that, I think the adoption of F-ADA would be much less than that of other F-assets, because as you say ADA already has smart contracts and staking. Although crucially ADA staking requires locking your coins but Flare doesn't. Flare is as much an improvement on ADA as it is on ETH and BTC. I don't think Flare needs to hide that fact.

[agonyaunt]

4 hours ago, brianwalden said:

This move doesn't make sense to me. I thought I had the pattern down. Popular dumb coins that had their own native ledgers with relatively fast and relatively cheap transactions.

Cardano is a smart contract ledger, right? It even has ADA staking for interest, no? What can Flare add to ADA that doesn't already exist on the Cardano ledger?

If they make FADA, I will question what the Flare Network is all about. I thought they had a symbiotic philosophy - that both ledgers would benefit by providing smart capabilities to coins that become F-assets. An ADA F-asset may mean that they have a parasitic philosophy. They're just using F-assets to suck in all that value from other ledgers. I'm not judging, I'm not saying this is bad, it's just different than what I understood Flare to be aiming for.

I'm hoping this is just Flare using social media to get some likes and retweets.

Based on Flare Finance's intro doc (https://flr.finance/static/media/FFShortPaper.b61a58ee.pdf), "Any tokens deployed on Flare Network can be listed and traded on FlareX". Hence, my assumption is eventually Flare Networks/Finance will support most of cryptocurrencies. Also appears that Flare Networks is trying to achieve [1] supporting smart contract in a trustless manner [2] resolving PoS's scaling and security issue... I am not an expert of ADA. So question is does ADA has the same goal as Flare Networks?

Best,