FXRP Gains DeFi Access One Year After Launch

Flare Network marked the first anniversary of its FXRP token, highlighting how the programmable representation of XRP has moved into decentralized finance (DeFi) on both Flare and Ethereum.

FXRP Minting and Deployment

When FXRP launched on September 24, 2025, the initial cap of 5 million tokens was filled within four hours. One year later, Flare reports that 145.2 million FXRP have been minted, with roughly 130 million deployed in DeFi protocols.

Vaults and Staking Options

Vault products allow holders to allocate FXRP without managing individual positions. The MXRPY vault, launched in May, distributes deposits across options, arbitrage and on‑chain strategies, offering a mixed risk profile. Firelight introduced a staking solution where users deposit FXRP and receive stXRP, a token that represents the staked position. By March, Firelight’s staking product had surpassed 50 million XRP staked and raised its deposit cap to 65 million FXRP.

Access to Ethereum Lending Markets

FXRP can now be supplied as collateral on Ethereum lending platforms, enabling users to borrow the RLUSD stablecoin while retaining exposure to XRP. The process requires minting FXRP, transferring it to Ethereum, and managing the loan on that chain.

Improved Wallet Integration

Flare’s Smart Accounts combine FXRP minting and vault deposits into a single XRP Ledger signature, simplifying the user flow. The network plans to extend this integration to borrowing, allowing holders to obtain RLUSD loans without handling multiple cross‑chain steps.