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FAssets Cycle

In this guide, we will walk you through all aspects of the FAssets process. We will start with an account on XRPL, we will send its assets to Flare, and then return them to XRPL. The steps we will take will be as follows:

  1. mint: convert XRP to FXRP
  2. deposit: deposit FXRP to the Firelight vault
  3. withdraw: withdraw FXRP from the Firelight vault
  4. redeem: convert FXRP back to XRP

We will do all of that through the Flare Smart Accounts CLI. The CLI allows us to make XRPL transactions through terminal commands.

note

The idea behind the Flare Smart Accounts is that we perform actions on the Flare chain through instructions sent on XRPL.

Mint​

First, we mint FXRP by reserving the necessary collateral and then sending XRP to the agent's underlying address. We will mint 1 lot of FXRP, with the agent at the address 0x55c815260cBE6c45Fe5bFe5FF32E3C7D746f14dC. The CLI command that does this is:

 ./smart_accounts.py bridge mint -a 0x55c815260cBE6c45Fe5bFe5FF32E3C7D746f14dC -l 1

The CLI sends both the reserveCollateral instruction and the Payment transaction to the agent's underlying address.

Deposit​

Next, we deposit 1 FXRP into the Firelight vault, specified by the MasterAccountController contract. Here, the CLI sends the deposit instruction. The command is:

./smart_accounts.py bridge deposit -a 1

Withdraw​

We withdraw the same number of tokens that we have just deposited from the Firelight vault. The process involves two steps. The CLI first sends the withdraw instruction, and afterwards, the claimWithdraw. The first instruction starts the withdrawal process, and the second claims the FXRP once it is released.

We use the command:

./smart_accounts.py bridge withdraw -a 1

Redeem​

The last step is to convert FXRP back to XRP. We will redeem the 1 lot of FXRP we minted in the first step back to XRP. We will invoke the CLI with the following command.

./smart_accounts.py bridge redeem -a 1

Simulation​

The above cycle can be simulated with a single CLI command:

 ./smart_accounts.py debug simulation -a 0x55c815260cBE6c45Fe5bFe5FF32E3C7D746f14dC -m 1 -d 1