TLDR
- FXRP launched on September 24, 2025, for DeFi use.
- Over $7.1 million in XRP locked shortly after launch.
- Flare plans to expand FAssets protocol to include BTC and DOGE.
Flare Network has launched FXRP, a wrapped version of XRP designed for decentralized finance (DeFi) applications on its platform. This initiative allows XRP holders to interact with DeFi products, enhancing the usability of XRP in decentralized ecosystems.
The launch of FXRP is a significant step in expanding Flareโs FAssets protocol, which aims to make tokens like XRP, BTC, and DOGE compatible with smart contract platforms. The initial minting is capped at 5 million FXRP to stabilize the network.
Details of the FXRP Launch
Flare introduced FXRP on September 24, 2025, marking it as a key development in integrating XRP into the DeFi space. This new wrapped token facilitates XRPโs use as collateral, liquidity, and yield generation.
Immediate liquidity incentives are being offered to support FXRP adoption. The Flare Foundation is allocating rFLR tokens to liquidity pools, with some offering up to 50% annual percentage yield (APY).
Initial Reaction and Demand
Within hours of launch, over $7.1 million worth of XRP was locked in Flareโs vault, suggesting a high demand for FXRP from the start. This rapid adoption indicates strong interest from the DeFi community.
XRPโs entry into DeFi through FXRP mirrors similar strategies used for other tokens. Like wrapped Bitcoin (wBTC), FXRP enjoys benefits from overcollateralization and incremental minting caps to ensure liquidity and security.
Participants and Protocols Involved
The Flare Network has been instrumental in developing FXRP. Their platform aims to enhance interoperability and composability for tokens not originally designed for smart contract environments.
DeFi protocols such as SparkDEX, BlazeSwap, and Enosys have already integrated FXRP. These protocols are crucial in supporting the tokenโs functionality within decentralized exchanges and liquidity pools.
Future Developments on Flare
Flare plans to expand its FAssets protocol, potentially including support for Bitcoin (BTC) and Dogecoin (DOGE). The prospect of integrating these assets could diversify and strengthen the DeFi offerings on the network.
The network also anticipates the launch of stXRP, a liquid-staked version of FXRP, which could provide additional capital efficiency for holders by facilitating further use cases in yield farming and lending.
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