According to a tweet from the Flare Networks, this integration will enable LTC to be used trustlessly on Smart Contract-style Flare with Ethereum, which will offer LTC interoperability and composability.
Flare also claimed that, in the light of these changes, the allocation of Flare tokens would be limited so that 5 billion FLR could be allocated to LTC participants. Further information on this reallocation of those taking part in the airdrop are expected to arrive next week, according to sources.
Flare has also been working to integrate smart contracts with the XRP Ledger and is expected to release tokens from that airdrop later this year.
The reason for preferring to integrate with Litecoin, over other similarly-sized crypto currencies, may have been that, after XRP, LTC was the next largest asset actually without smart contract capability.
The Litecoin Foundation has confirmed that it is “very excited to see Litecoin’s ability to deliver smart contracts and interoperability through Flare.”
This also opens up the prospect of additional integrations that will bring the DeFi environment to all non-ETH coins in the immediate future.
— Flare Finance (@FlrFinance) January 8, 2021
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