{"id":13961,"date":"2025-10-21T20:35:29","date_gmt":"2025-10-21T20:35:29","guid":{"rendered":"https:\/\/bitunikey.com\/news\/flare-becomes-top-defi-platform-for-xrp-after-fxrp-launch\/"},"modified":"2025-10-21T20:35:33","modified_gmt":"2025-10-21T20:35:33","slug":"flare-becomes-top-defi-platform-for-xrp-after-fxrp-launch","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/flare-becomes-top-defi-platform-for-xrp-after-fxrp-launch\/","title":{"rendered":"Flare becomes top DeFi platform for XRP after FXRP launch"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Flare has become the top EVM DeFi ecosystem for XRP after the launch of the wrapped FXRP token.<\/p>\n<div id=\"cn-block-summary-block_5bb03df89da705a80a09ba9fb832d356\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Flare Network became the largest EVM DeFi ecosystem for wrapped XRP tokens<\/li>\n<li>Since FXRP\u2019s launch, its network TVL rose 37.9%<\/li>\n<li>The total value locked of XRP on the network reached $86.2 million<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>XRP is increasingly expanding into the world of DeFi. On October 21, Flare Network announced rapid growth in the total value locked of FXRP, a trustless wrapped version of XRP on the chain. What\u2019s more, the protocol stated that it had become the largest EVM DeFi ecosystem for XRP.<\/p>\n<p>Since its launch on September 24, the TVL for the FXRP token has risen 37.9% due to increased network activity. This accelerated on October 19, when Flare (FLR) bridged another 15 million XRP tokens, bringing the TVL to $86.2 million.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Flare unlocks DeFi applications for XRP<\/h2>\n<p>According to Flare, this activity shows significant interest in XRP\u2019s DeFi <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/flare.network\/news\/introduction-to-xrp-defi\" target=\"_blank\" rel=\"nofollow\">applications<\/a>. Wrapped version of XRP (XRP) enables users to engage in DeFi activities such as earning yield and lending, which are not available on the XRP Ledger. <\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis is a turning point for the XRP ecosystem,\u201d said Hugo Philion, Co-founder of Flare. \u201cFor the first time, XRP holders can participate in non-custodial DeFi using their existing assets \u2014 earning yield, providing liquidity, and engaging in a growing ecosystem powered by Flare\u2019s native technology.\u201d<\/p>\n<\/blockquote>\n<p>This development follows a prior announcement by Flare a week earlier, which revealed that users could mint their FXRP tokens directly through their Xaman wallet. This integration lowers the barrier to entry for new XRP holders who want to participate in the DeFi ecosystem.<\/p>\n<p>The XRP Ledger has some DeFi capabilities, but these are still limited compared to most other smart contract chains. For instance, the network has a native DEX, automated market makers, and compliance infrastructure. However, native lending protocols are still lacking.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Flare has become the top EVM DeFi ecosystem for XRP after the launch of the wrapped FXRP token. Summary Flare Network became the largest EVM DeFi ecosystem for wrapped XRP&hellip;<\/p>\n","protected":false},"author":1,"featured_media":415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13961","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\/13961","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=13961"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13961\/revisions"}],"predecessor-version":[{"id":13962,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13961\/revisions\/13962"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/415"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=13961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=13961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=13961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}