Flare Offers New DeFi Options for XRP Holders

Flare Joins Global DeFi with FXRP

Flare has achieved a significant DeFi update by enabling lending and borrowing transactions with the FXRP asset linked to XRP. This integration was conducted with the Morpho lending protocol and aims to provide more options for XRP holders.

New Opportunities for XRP Holders

With this development, XRP holders can earn interest on their FXRP investments or use FXRP as collateral to borrow assets like stablecoins. Morpho's market design isolates each lending pair, limiting risks.

Accessibility and Collateral Options

The first collection areas on Flare are currently accessible through the Mystic application. These collection areas include supported options such as FXRP, FLR, and USDT.