Switcheo
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CITEX
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Poloniex
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Indoex
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CoinExchange.io
CoinExchange.io
When Flexacoin was introduced in 2018, instant collateralization for digital asset transactions was a new and novel concept. In the years since, the decentralized finance landscape has evolved dramatically. Major innovations like robust borrowing and lending protocols, decentralized liquidity pools, and new types of spendable digital assets are now commonplace; in many cases, they demonstrate why collateral is an even more relevant and important approach to accelerating digital asset payments today. Meanwhile, new standards such as ERC777 and ERC1410 have enabled important new token functionality, all while maintaining complete backwards compatibility with ERC20.
Over the past year, as the DeFi landscape has continued to evolve, we’ve also heard and responded to feedback from our network partners that the Flexacoin token interface and Flexa Capacity collateralization process should be more extensible, more streamlined, and more accessible to people all over the world. And today, we’re sharing the culmination of more than eight months of that work: a new upgrade to the Flexacoin token that makes it the ideal collateral for digital asset transactions—not only within the Flexa network, but ultimately for any collateral-related purpose across all of DeFi.
This new token architecture, currently on testnet, features:
Direct, on-chain supply via partitions Collateral supply operations, which formerly required multiple steps both on- and off-chain, are now a single transaction performed entirely on-chain. This architecture dramatically improves the security of supplying collateral—no more signatures!—while making it seamless to integrate collateralization into existing custody implementations. Open-source and extensible collateral managers Flexa’s collateralization implementation has been redesigned into a self-contained smart contract and will be open sourced for anyone to use without restriction. What’s more, the token can be further upgraded to support additional collateral managers in the future (e.g., as ETH 2.0 evolves, or Ethereum scales to support on-chain reward distribution). The removal of Flexa’s administrative capabilities Finally, this new token deprecates the ability for Flexa or any other entity to make administrative changes to the token contract—an important step to decentralizing control over the token interface. In fact, any upgrade capabilities have been strictly limited to appending (and not removing) additional collateral manager implementations, the process for which will be shared in the coming weeks.
