Could loaned xUSD be transferred out of the Flare Network and into other networks such as XRPL

[NotElon]

Hello Flare Discussion Club,

The Flare Finance's ecosystem structure is a great stepping stone for a digital holy grail for an insured infinite ODL to be used by banks, institutions and such.  My main concern for now is that,  can Flare Finance users withdraw loaned xUSD to another dApp on the Flare Network and can they withdraw loaned xUSD to another network such as XRP-L?

Thank you.

[Seoulite]

Welcome to the forum. Guys who are better at the technical side will be able to answer more fully, but as I understand it there will be a two-way bridge between Flare and the XRPL (remember that FF is ON flare) and so I would assume that xUSD could be moved easily to the XRPL, but as I said I'm not sure about that. As for interoperability between FF dApps and other dApps, I would assume so yes. They are all in the same ecosystem, based on the same code. So far it looks like everyone is working for as much interoperability as possible.

[brianwalden]

1 hour ago, NotElon said:

Hello Flare Discussion Club,

The Flare Finance's ecosystem structure is a great stepping stone for a digital holy grail for an insured infinite ODL to be used by banks, institutions and such.  My main concern for now is that,  can Flare Finance users withdraw loaned xUSD to another dApp on the Flare Network and can they withdraw loaned xUSD to another network such as XRP-L?

Thank you.

As of now there's no dollar coin being issued by the Flare network itself like what it's doing with the other F-assets. But two Dapps have already announced that they will be issuing stablecoins.

Trustline is creating a trustless dollar stablecoin backed by FLR and FXRP (and possibly other F-assets later) called Aurei (AUR). Trustline was created by a former Ripple employee and it will issue Aurei both on Flare and the XRPL.

Flare Finance (a Dapp that's not related to Flare itself, despite the confusing name) is issuing YUSD, which is created by wrapping ERC-20 stablecoins (I believe DAI, USDT, and USDC to start). I think the main purpose of YUSD is to use it in Flare Finance's DeFi projects.

If there will be a way to trade AUR for YUSD within Flare (and Flare Finance has a UniSwap-like DEX so I'm sure it will eventually be possible if it's not on day one), you'll be able start with AUR on the XRP and move it through Flare and into a stablecoin on Ethereum, and vice versa.