PAC Protocol Announces Strategic Partnership with Flare Network: $PAC Added as FLARE Asset
Cheyenne, Wyoming (July 5, 2021) - PAC Protocol is excited to announce its native digital asset, $PAC coin, has been chosen by Flare to be among the very short list of Cryptocurrency or Digital Assets on their Flare Network. $PAC enters the Flare Network ecosystem as a Y-asset, a designation given to all of Flare Network’s Wrapped Assets, or those with a direct bridge to the ubiquitous and far-reaching Ethereum blockchain.
Flare is a decentralized network that aims to onboard the entire spectrum of smart contracts onto XRP’s Ripple blockchain, as well as Ethereum’s smart contract ecosystem.
“The bringing together of these networks and assets go to great lengths to increase and improve interoperability, enabling not just the use of $PAC along with smart contracts via ETH, but also traversing different blockchain networks,” says PAC Protocol Co-Founder, George Tyler. "This helps expand upon ways we are able to harness the power of our PAC Protocol network’s mammoth size and scalability."
“We are excited to partner with Flare Finance as they continue to grow and expand their leading blockchain platform," added David Gokhshtein, CEO of PAC Protocol.
Being a Y-Asset also opens up $PAC, and holders of this asset, to various DEFI and 3rd Party staking opportunities, increasing the way $PAC may be used and utilized. PAC Protocol joins the few selected companies, with varying asset classes, on the limited capacity Flare Network. Some of the other chosen assets include:
$ADA – Cardano
$ETH – Ethereum
$TEL – Telcoin
$CEL – Celsius Network
$GALA – Gala Games
$SHIB – Shiba Inu
$SANSHU – Sanshu Inu
$USDT – Tether
$USDC – Circle
$BNB – Binance
$CAKE – PancakeSwap
$XDC – XinFin
$CSC – CasinoCoin
For more information about PAC Protocol, please visit https://pacprotocol.com.
About Flare Network
Flare is the world’s first Turing Complete Federated Byzantine Agreement (FBA) network which enables customers to run smart contract services on XRP using a virtual machine powered by Ethereum.
Supporting exchanges: https://flare.xyz/supporting-exchanges
About PAC Protocol
PAC Protocol is built on the foundation of a first-of-its-kind blockchain technology utilizing both proof-of-stake (POSv3, economically friendly) and deterministic Masternodes to offer a large globally decentralized network, proven to boast scalability with over 19,000 Masternodes worldwide and growing. This creates the digital architecture required for decentralized data storage, content management, and more using IPFS software.
Supporting exchanges: https://pacprotocol.com/network-product/exchanges
About PAC Global LLC
PAC Global (PAC), the US-based parent company of PAC Protocol, is focused exclusively on providing next generation blockchain network solutions to solve real world problems. It is currently the largest truly decentralized data Masternode network located in approximately 30 countries. The company’s network is based on the energy efficient Proof of Stake (PoS) algorithm, which greatly reduces overall carbon footprint.
This press release may include ''forward-looking statements.'' To the extent that the information presented in this press release discusses financial projections, information, or expectations about business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.'' Although the company believes the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Readers are urged to carefully review and consider any cautionary statements and other disclosures that PAC Global may file from time to time. Forward-looking statements speak only as of the date of the document in which they are contained, and PAC Global does not undertake any duty to update any forward-looking statements except as may be required by law.