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Midas, in partnership with Axelar and Hyperithm, has launched mXRP, the first XRP yield product of its kind that is fully composable in DeFi.<\/p>\n
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Tokenization platform Midas has launched<\/a> mXRP, a tokenized XRP product that operates on the XRP Ledger\u2019s EVM sidechain, with infrastructure and interoperability provided by Axelar. <\/p>\n Users can create mXRP by depositing XRP as collateral, which then follows the performance of underlying yield strategies such as market-making and liquidity provision. Hyperithm, a third-party asset manager, will act as the \u201crisk curator,\u201d managing these strategies, Dennis Dinkelmeyer, co-founder and CEO of Midas, told<\/a> The Block. The product targets a base yield of 6\u20138% paid out in XRP. <\/p>\n In addition to the base yield, users can deploy mXRP across DeFi protocols to maximize earnings from their XRP holdings. \u201cMuch of the XRP supply has been dormant for years; mXRP provides a transparent mechanism for users to access onchain strategies,\u201d Dinkelmeyer explained<\/a>.\u00a0<\/p>\n Georgios Vlachos, co-founder of Axelar, described the structure as making mXRP a \u201cperpetual buyer\u201d of XRP, with yield generated from strategies used to purchase additional XRP that is then distributed to mXRP holders. Vlachos added that if mXRP\u2019s AUM grow to $10 billion by June next year, the product could generate $700 million in annual buying pressure for XRP. <\/p>\n Access to mXRP is restricted in the U.S., U.K., and other sanctioned jurisdictions. <\/p>\n <\/p>\n The launch of mXRP comes amid a rising number of XRP-focused yield products entering the market, such as Doppler Finance\u2019s self-custody XRPfi Prime<\/a>, which unlocks yield within a hardware wallet, and XRP yield accounts recently launched<\/a> by MoreMarkets. <\/p>\n However, as Dinkelmeyer explained, those \u201cEarn\u201d products function like traditional savings or lending accounts, whereas mXRP is a transferable ERC-20 token compatible with DeFi. \u201cThat composability gives mXRP real utility beyond just holding it,\u201d he said<\/a>.<\/p>\n It\u2019s also worth noting that XRP yield is beginning to attract significant institutional interest. Notably, Nasdaq-listed VivoPower has recently partnered with Flare to deploy $100 million in XRP through Flare\u2019s scalable FAssets framework, generating institutional-grade yield while reinvesting returns into its holdings.<\/p>\n <\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Midas, in partnership with Axelar and Hyperithm, has launched mXRP, the first XRP yield product of its kind that is fully composable in DeFi. Summary mXRP lets users mint a…<\/p>\n","protected":false},"author":1,"featured_media":5803,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=11395"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11395\/revisions"}],"predecessor-version":[{"id":11396,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11395\/revisions\/11396"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/5803"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=11395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=11395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=11395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}How mXRP sets itself apart in XRP yield market<\/h2>\n