Key Takeaways
- earnXRP enables users to earn onchain yield directly denominated in XRP through a diversified, non-custodial vault.
- Powered by Flare’s FAssets system, Upshift infrastructure, and Clearstar’s risk management, earnXRP is the first fully onchain yield product for XRP holders.
Share this article
Flare, in collaboration with Upshift and Clearstar, has launched earnXRP, the first onchain yield product fully denominated in XRP, making use of Flare’s FAssets system, according to a Monday announcement.
Built on Flare’s FAssets system and powered by Upshift’s vault infrastructure with risk curation from Clearstar, the product enables users to deposit FXRP into a single non-custodial vault that automatically deploys funds across diversified strategies and compounds returns back into XRP.
The launch aims to simplify access to XRP-based DeFi while expanding on-chain liquidity and institutional-grade yield opportunities within the Flare ecosystem.
“Only 0.1% of XRP supply is utilized in DeFi, despite it being the 5th largest cryptocurrency by market cap. Users have not had an easy way to capture sustainably high returns. We’re excited to work with Flare and Clearstar to unlock XRP yield using the new Flare XRP Yield vault,” said Ethan, Growth Lead at Upshift.
Flare is actively expanding XRP integration. In September, Flare Network launched its first XRP-backed stablecoin via Enosys Loans, a CDP protocol that lets users collateralize FXRP to mint stablecoins.
Firelight recently introduced an XRP staking protocol on the Flare Network to facilitate insurance coverage and yield generation in DeFi via liquid staking tokens.
Crypto Hopes for a Strong December Rebound as Liquidity Rises
No Comment! Be the first one.