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FBTC has been confirmed: what does this mean for the network?


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Remember when all this started and we were discussing how FBTC would shake up the system once it is introduced? Well Hugo has said now that FBTC will be always integrated once Fassets go live. Basically the majority of non smart big cryptos will be Fassets from the start.

We know that FLR is used to secure Fassets, and we assumed that FBTC would result in massive amounts of FLR being locked as collateral. I am guessing that since the number of Fassets has been expanded massively, that they are not expecting huge usage right out of the gate. Otherwise I guess this would be too big a shock to the system. I am guessing they expect initial values of minted Fassets to be relatively small outside of XRP and DOGE. Will BTC be used for buying NFTs on Flare? Yes eventually but I think it will take a while for a lot more applications and usages on Flare before we see large minting of FBTC.

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