@FlareNetworksi
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Put your XRP to work in DEFI ON FLARE: Non-custodial, secure, on-chain.
Joined February 2019
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XRP now has institutional credit rails on Ethereum mainnet, enabled by @FlareNetworks.
FXRP is live as collateral in @SentoraHQ's RLUSD vault on @Morpho — supply FXRP, borrow RLUSD, permissionlessly.
A milestone for $XRP in institutional DeFi 🤝
app.morpho.org/ethereum/vari…
As @Firelightfi moves toward launch, the docs spell out the coverage protocol's details.
Who participates. What is covered. How claims and payouts run. FXRP / stXRP and the Phase 1 to Phase 2 transition.
If you're putting XRP to work this weekend, start on one page.
Vaults, lending, staking, cover as it comes.
Compare the routes, then pick.
xrpfi.flare.network/defi
Flare ☀️ retweeted
As its Alt SZN (TM) I wanted to recapitulate the Flare offering.
• Flare is the only major L1 with a built in data.
• That data is used to power onchain markets and interoperability with tokens like XRP and Bitcoin which have historically been massively underutilised.
The utility just from this is huge - Firelight, the entire DeFi ecosystem in Flare, Flare smart accounts etc. This is where we are today but the best is yet to come… read on
• Those same data capabilities are being used to assure a verifiable compute layer that sits above Flare.
• Verifiable compute lets you run huge programs (example - a whole LLM) privately and with sufficient security to use the results onchain.
The use cases for the combination of Flare’s data, interoperability and compute are manyfold:
Protocol managed wallets which let a decentralised application on Flare take actions on any chain.
Autonomous crypto or RWA portfolio creation & management.
Private data streams that can interact with applications - so a public app can use data that can’t be exposed publicly but a user can be certain that the data came from the correct source.
Applications built directly on chains like XRP (with baked in privacy).
Private equity or perps markets.
Privacy tooling that can be applied to other markets.
Private and verifiable agents.
These are just a few of the ones that appeal to me.
Everything feeds revenue into FIRE - the Flare mechanism for buying back the FLR token.
We are ALL early.
A short list of apps that could be built on top of FCC:
• Private orderbooks, RFQ systems and dark pools
• Confidential lending, credit and underwriting
• Payroll, treasury and private institutional settlement
• Parametric insurance and private prediction markets
• Agents that hold API keys, policies or signing authority
• External-chain wallets controlled by Flare logic
• Automated rebalancing, market making and treasury execution
• Private Web2 data pulls and custom attestations
• KYC-gated apps with selective disclosure
• Shielded balances and private transfers
• Proprietary trading or risk models
• Heavy offchain computation with only the result posted onchain
• Randomness and specialized oracle services
• Apps that need secrets without falling back to a trusted backend
We have a lot of work to do. ☀️
XRP stays on the XRPL.
FAssets is how it becomes dependable collateral on Flare.
Start on XRPL. Flare Smart Accounts execute on Flare.
Today that presents as imbedded wallet flows: mint and deposit in a vault in one click for yield on your XRP.
The same pattern can originate a loan: FXRP as collateral, RLUSD out.
The mint, the route, the borrow stay under the hood. The possibilities extend from wallets and dApps to exchanges and more.
Flare ☀️ retweeted
FXRP’s OFT architecture is built around a single canonical asset.
On Flare, the OFT Adapter locks native FXRP. On destination chains, LayerZero OFT contracts mint and burn the corresponding supply.
That means developers can move FXRP across supported chains without introducing fragmented wrapped versions of the asset.
One supply model, multiple execution environments.
Architecture and deployments:
dev.flare.network/fxrp/oft
If you hold $FLR, make this read part of your weekend.
defillama.com/research/spotl…
☀️@XRPSEOUL. @token2049 Singapore. @RippleSwell New York.
If you're coming, we should be in the same room.
The list is here → flare.network/events
Flare ☀️ retweeted
When Firelight moves to Phase 2, an on-chain coverage protocol, all Phase 1 positions automatically migrate.
Get a closer look at the architecture of the protocol. 🔥
Flare ☀️ retweeted
JUST IN: RLUSD lending hits 89% utilization against FXRP
About $7.13 million in $RLUSD has been supplied while $6.35 million is borrowed against FXRP, meaning roughly 89 cents of every $1 supplied is already being put to work in lending markets.
Flare ☀️ retweeted
Flare $FLR is now tradable on Swyftx.
Flare is a Layer 1 blockchain built to bring outside data onto the chain, so smart contracts can use price feeds and information from other blockchains and the web.
Buy, sell and trade $FLR now: swyftx.app.link/4rNeggNww6b
DeFi cover needs dependable collateral.
XRP reaches Flare through FAssets, our core infrastructure.
Mint FXRP, stake via @Firelightfi, hold stXRP, and that capital can still move across Flare DeFi while you earn yield on it.
FAssets gets XRP here. Firelight is what it can do next.
What makes XRP-backed credit on @FlareNetworks' rails different comes down to three things.
1. Non-custodial: no lending desk holds your $XRP. It sits in Morpho's immutable contracts, positions readable onchain, alongside $10B+ in deposits.
2. Overcollateralized: you post more value in collateral than you borrow, secured onchain; not underwritten offchain.
3. Permissionless: no KYC, no whitelist, no approval queue. $10 or $10M, same market, same terms.
FXRP is live as collateral in the @SentoraHQ's RLUSD vault on @Morpho.
Next: sign once on the XRP Ledger. FXRP is minted on Flare, bridged to Ethereum, deposited as collateral on Morpho, and $RLUSD comes back to you.
Borrowing against FXRP is live today on Ethereum. Delivery back to an XRPL wallet is the next leg.
Honestly, that's a very creative and impressive XRP unlock!
Flare acts as an extended arm for the XRP Ledger here.
Deposit XRP on XRPL -> Flare FXRP -> Borrows RLUSD on Morpho -> Receive RLUSD on XRPL in your wallet.
All that without new accounts or wallets. Even more bullish on Permission Delegation now which is a important piece to make it happen.
Here's how it works.
Stakers back the pool and get yield through stXRP.
Operators buy the cover, and the engine prices it.
The collateral is FXRP, and the coverage protocol runs on Flare.
A vault is a stepping stone.
Everything we ship is another stepping stone.
Flare Smart Accounts are how those keep compounding into a greater unlock.
Start on XRPL. Flare Smart Accounts execute on Flare.
Today that presents as imbedded wallet flows: mint and deposit in a vault in one click for yield on your XRP.
The same pattern can originate a loan: FXRP as collateral, RLUSD out.
The mint, the route, the borrow stay under the hood. The possibilities extend from wallets and dApps to exchanges and more.
Flare ☀️ retweeted
It's been 10 months since @enosys_global launched Governance and the APY Cloud on @FlareNetworks.
In that time, Governance Stakers have received over $250,000 in Real Yield generated from the Enosys product suite.
That's an average APY of ~15% in real yield, paid directly back to HLN and APS Stakers who support the ecosystem by voting on governance proposals.
Personally, I think an average real yield rate of 15% is pretty incredible in this market and helps prove sustainability of the 5-35% bounded goal range in the APY Cloud.
27.1% of that was in flare-networks:native, 21% in $FXRP, 19.8% in $USDT0, and 9.6% in $CDP with the rest from the other various assets paid as fees.
[dune.com/enosys_global/apy-c…]
Due to its success as the highest fee producing product on Flare, Enosys DEX V3 produces ~90% of the fees for the APY Cloud. DEX V3 has supported nearly 5M total swaps for over $1.2 Billion in volume, producing over $3.1 Million in Fees in total.
That high fee rate comes from the high capital efficiency of our Liquidity Providers who do an incredible job of keeping the Network highly liquid at the mark, despite lower TVL.
They are well rewarded for their efforts though, with the current Average and Median 7d APRs on DEX V3 LPs sitting at 99.05% and 107.85% respectively. These yields are mostly from actual swap fees, bolstered by APS and rFLR incentives to help retain liquidity during low volume periods while also de-risking higher liquidity concentration.
[dune.com/enosys_global/enosy…]
Enosys Loans, our friendly fork of @LiquityProtocol's Liquity V2, has still been chugging along. While currently down from peak usage (obviously, since holding collateralized debt positions through a bear market is a risky proposition), Loans has still produced over $500k in fee revenue.
[dune.com/enosys_global/loans]
There are currently 7 weekly APS distributions remaining on the license agreement to BOLD users, at which point our weekly APS outlays will be reduced by ~35%.
Anyway, just wanted to put some numbers out there because we have obviously been in a slow period for quite a few months now, but the Enosys ecosystem remains resilient and productive.
Also, with @HugoPhilion nudging Flare users to take a look around at what's out there on the network, seemed like a good time to remind everyone that the APY Cloud exists and produces a reasonable, reliable, and sustainable Real Yield for HLN and APS stakers.
You can even try it out basically for free, by earning APS providing liquidity on DEX V3 or Stability on Loans 🤷♂️
enosys.global/
Flare ☀️ retweeted
Minor details - that is something for the app to hide away in any case.
But the beginning and end are what matters.
Deposit XRP from XRPL as collateral and own RLUSD. Without a new wallet, without new address, without selling XRP.
XRP -[FAssets+OFT]-> FXRP -[Borrow on Morpho]-> RLUSD -[Bridge back]-> RLUSD (on XRPL)
Or take RLUSD straight to exchange
Had to read this a few times... Wild. 😳
So you would "start" from the XRP Ledger, providing XRP on XRPL as collateral, but actually FXRP on Flare as collateral to borrow against it for RLUSD to then end up holding RLUSD on your XRPL account.
Or in other words...
> Provide XRP as collateral
> FXRP magic happens
> Borrow RLUSD against it
> Own RLUSD on XRPL
... Probably wrong in the details the way I said it, but that's NEW and something I haven't seen before. 🧐
🧑💻 The next @FlareDevHub Workshop will be covering how Flare Confidential Compute can apply to the XRPL.
Private intent in. Verifiable execution on chain. One case study, end to end.
RSVP: luma.com/p5hie5j4
Start on XRPL. Flare Smart Accounts execute on Flare.
Today that presents as imbedded wallet flows: mint and deposit in a vault in one click for yield on your XRP.
The same pattern can originate a loan: FXRP as collateral, RLUSD out.
The mint, the route, the borrow stay under the hood. The possibilities extend from wallets and dApps to exchanges and more.