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|[**Backing factor**](/fassets/overview#agents)<br />The percentage of underlying assets that must be actively backed at any time. | 98% | 99% | 95-98%|
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|[**Backing factor**](/fassets/overview#agents)<br />The percentage of underlying assets that must be actively backed at any time. | 98% | 99% | 95% |
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|[**Vault collateral**](/fassets/collateral#vault-collateral)<br />Types of collateral required in the agent's vault. ||||
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| • **Supported types**<br />Collateral types allowed in the vault. |`USDX`|`USDX`|`USDX`|
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| • [**Minimal CR**](/fassets/collateral#minimal-cr)<br />The minimum collateral ratio required to avoid liquidation. | 1.2 | 1.2 | 1.2 |
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|[**Minting fee**](/fassets/minting#minting-fee)<br />The minting fee is when users (minters) mint FAssets by depositing underlying assets with an agent. | 1% | 1% | 1% |
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|[**Pool share**](/fassets/minting#pool-share)<br />The pool share fee is the portion of the minting and redemption fees allocated to pool collateral providers. | 30% | 30% | 30% |
| **Agent vault**<br /> The minting vault collateral ratio is the minimum collateral required to back FAssets, ensuring value protection against under-collateralization. | 1.3| 1.3| 1.3|
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| **Collateral pool**<br /> The minting pool collateral ratio ensures the collateral value supports the minted FAssets. | 1.6| 1.6| 1.6|
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| **Agent vault**<br /> The minting vault collateral ratio is the minimum collateral required to back FAssets, ensuring value protection against under-collateralization. | 1.4| 1.4| 1.4|
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| **Collateral pool**<br /> The minting pool collateral ratio ensures the collateral value supports the minted FAssets. | 1.7| 1.7| 1.7|
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|[**Exit CR**](/fassets/collateral#exit-cr)<br />The pool exit collateral ratio is the minimum collateral ratio agents must maintain when exiting their pool collateral. | 1.6 | 1.6 | 1.6 |
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|[**Top-up CR**](/fassets/collateral#top-up-cr)<br />Defines the minimum collateral ratio agents must maintain when topping up pool collateral. | 1.5 | 1.5 | 1.5 |
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|**Top-up discount**<br />The pool top-up token discount values added tokens at a slight discount to market price, increasing system stability, shown as a factor on the Agent UI. | 0.5% | 0.5% | 0.5% |
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|**Maximum governance update frequency**<br />Minimum amount of time between updates of any governance setting.<br /> | 1 day | 1 day | 1 day |
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|**Token invalidation time**<br />Time between the moment a token is deprecated by governance and it becomes invalid. Agents still using it as vault collateral get liquidated after this time.<br /> | 1 day | 1 day | 1 day |
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|**Agent exit available time lock**<br />The time the agent has to wait after announcing exit from the list of publicly available agents and executing the exit.<br /> | 3 hours | 3 hours | 3 hours |
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|**Agent fee change time lock**<br />The time the agent has to wait between announcing and changing the agent fee or the pool share.<br /> | 1 day| 1 day| 1 day|
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|**Agent minting CR change time lock**<br />The time the agent has to wait between announcing and changing the minting CR (vault or pool).<br /> |1 hour|1 hour|1 hour|
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|**Agent fee change time lock**<br />The time the agent has to wait between announcing and changing the agent fee or the pool share.<br /> | 1 hour| 1 hour| 1 hour|
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|**Agent minting CR change time lock**<br />The time the agent has to wait between announcing and changing the minting CR (vault or pool).<br /> |5 minutes|5 minutes|5 minutes|
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|**Pool exit and top-up change time lock**<br />The time the agent has to wait between announcing and changing any pool exit and top-up settings.<br /> | 1 day | 1 day | 1 day |
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|**Agent time-locked operation window**<br />Once the above time locks expire, agents have this amount of time to execute the requested operation.<br /> | 2 hours | 2 hours | 2 hours |
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|**Collateral pool token time lock**<br />Amount of seconds that a user entering the collateral pool must wait before spending (exit or transfer) the obtained pool tokens.<br /> | 60 seconds | 60 seconds | 60 seconds |
|`AgentOwnerRegistry`|[`0xa7f5d3C81f55f2b072FB62a0D4A03317BFd1a3c0`](https://songbird-explorer.flare.network/address/0xa7f5d3C81f55f2b072FB62a0D4A03317BFd1a3c0)| Manages agent whitelisting and allows setting and retrieving details such as work and management addresses, name, description, and icon. |
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|`FXRP`|[`0xF9a84f4ec903F4EaB117A9c1098BeC078BA7027d`](https://songbird-explorer.flare.network/address/0xF9a84f4ec903F4EaB117A9c1098BeC078BA7027d)| The FAsset-wrapped TestXRP token, ready for use on Songbird. |
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|`USDX`|[`0x4A771Cc1a39FDd8AA08B8EA51F7Fd412e73B3d2B`](https://songbird-explorer.flare.network/address/0x4A771Cc1a39FDd8AA08B8EA51F7Fd412e73B3d2B)| ERC-20 token used by FAssets. |
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|`AssetManager_XRP`|[`0x299d678f67e7ADD4efdf295Ebe0E92FCb4f75C4c`](https://songbird-explorer.flare.network/address/0x299d678f67e7ADD4efdf295Ebe0E92FCb4f75C4c)| Smart ontract that can mint and burn FXRP while managing collateral and backing funds. |
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|`FXRP`|[`0xF9a84f4ec903F4EaB117A9c1098BeC078BA7027d`](https://songbird-explorer.flare.network/address/0xF9a84f4ec903F4EaB117A9c1098BeC078BA7027d)| The FAsset-wrapped XRP token, ready for use on Songbird. |
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|`AssetManager_FDOGE`|[`0x866077dC52445167dC971643c1b2910608eD0C5A`](https://songbird-explorer.flare.network/address/0x866077dC52445167dC971643c1b2910608eD0C5A)| Smart ontract that can mint and burn FDOGE while managing collateral and backing funds. |
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|`FDOGE`|[`0xaa25ee3B68c515e69A463876Ab262bc4e8339030`](https://songbird-explorer.flare.network/address/0xaa25ee3B68c515e69A463876Ab262bc4e8339030)| The FAsset-wrapped DOGE token, ready for use on Songbird. |
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|`USDX`|[`0x4A771Cc1a39FDd8AA08B8EA51F7Fd412e73B3d2B`](https://songbird-explorer.flare.network/address/0x4A771Cc1a39FDd8AA08B8EA51F7Fd412e73B3d2B)| ERC-20 token used by FAssets as vault collateral. |
The FAssets system by Flare enables non-smart contract tokens like BTC and XRP to interact trustlessly with smart contracts on the Flare network, unlocking their use in DeFi applications. It achieves this through collateralized minting, utilizing [Flare Data Connector (FDC)](/fdc/overview) and [Flare Time Series Oracle (FTSO)](/ftso/overview) for secure cross-chain functionality.
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Agents in the FAssets system facilitate the minting and redemption of FAssets by providing over-collateralized assets and managing transactions securely. A liquidator in the FAssets system monitors agent's collateralization levels to ensure the system's security and trustlessness.
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## Whitelist the Management Address
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:::info
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Given our current insurance mechanisms to protect users, Flare Labs will not add any more agents to the FAssets protocol on Songbird.
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As covered in this [blog](https://flare.network/fxrp-is-live-on-songbird/), Flare Labs will cover losses up to \$100,000 per asset, for a total coverage of $300,000.
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We appreciate the interest received and look forward to onboarding agents once we have launched FAssets on Flare mainnet.
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:::
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To access the FAssets system, you must be whitelisted for security reasons.
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1. Use the [FlareFAssetsSongbirdBot Telegram channel](https://t.me/FlareFAssetsSongbirdBot), specifically designed for registration, and provide the necessary information.
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### Update the FAssets Agent
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To restart and update the FAssets agent, run the following commands:
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```bash
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docker compose down
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git pull
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docker compose pull
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docker compose --profile cli run agent-bot listAgents --fasset FXRP
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