Flare Network Powers XRPFi With stXRP and Liquid Staking Gain Access To
Flare Network is bridging XRP to DeFi by utilizing its smart contract system and FAssets. The XRP Ledger (XRPL) does not support smart contracts, which has limited XRP’s use in decentralized financing. Flare Network eliminates this gap by wrapping XRP into a format functional in DeFi protocols.
Flare Network is bridging XRP to DeFi by utilizing its smart contract system and FAssets. The XRP Ledger (XRPL) does not support smart contracts, which has limited XRP’s use in decentralized financing. Flare Network removes this gap by wrapping XRP into a format usable in DeFi protocols. FXRP is the wrapped version of XRP. It is fully backed and can be used within Flare’s network. The FAssets system powers this process. By staking FXRP, users receive stXRP– a liquid staking token. Max Luck, head of growth at Flare, explained, Flare Network operates as a full-layer blockchain designed for data applications. Its purpose is to allow assets without smart contract support, such as XRP, to interact with DeFi. This system keeps the original asset safe while providing new ways to utilize it in financial protocols.
Organizations Enter XRPFi With Large-Scale FXRP Allocations. Institutional interest in XRPFi is growing. Support, a digital asset platform holding over 1.8 billion XRP, intends to join the FAssets community. Nasdaq-listed company VivoPower also announced a $100 million XRP allocation on Flare Network. These allocations connect large XRP holders to the expanding XRPFi ecosystem. With XRP’s total market capitalization exceeding $130 billion, the entry of institutional players into XRPFi adds new liquidity to decentralized applications. FXRP allows participation in DeFi without altering the original XRP’s structure. In this setup, the FXRP used remains active in Flare’s Protected Service Networks, which help support DeFi infrastructure. At the same time, holders utilize stXRP as a versatile asset in decentralized markets. These parallel layers expand XRP’s reach while maintaining core asset stability.
stXRP Introduces Liquid Staking on Firelight Protocol. stXRP is now live on Firelight, a protocol supported by Flare Network. Users deposit FXRP into Firelight’s Launch Vault, which then mints stXRP at a 1:1 ratio. The stXRP token is based on ERC-20 standards, enabling full utility across DeFi services like lending markets and token swaps. The deposited FXRP remains secured in the Protected Service Networks. These networks operate in the background and support multiple blockchain environments. This system allows the original stake to earn potential rewards, while users interact with stXRP on the frontend. Firelight also introduces Firelight Points, which users earn by using or holding stXRP. These points may impact future updates or distribution methods within the community. The setup adds composability to stXRP across liquidity, lending, and trading pools within Flare-based DeFi. The stXRP token enables users to move funds through various applications without sacrificing their original FXRP stake. As part of the XRPFi expansion, it connects XRP holders to a broader DeFi ecosystem, supported by Flare Network’s infrastructure.
