Flare has taken a major step in expanding the role of XRP in decentralised finance (DeFi) by launching FXRP on its mainnet.

The rollout of FXRP marks the first time XRP can be directly minted into a DeFi-ready token and deployed across protocols for trading, lending, stablecoin minting, and liquid staking.

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Notably, FXRP is the first asset to be launched on Flare, the protocol designed to transform non-smart contract tokens into assets that can be used across DeFi ecosystems.

For XRP holders, this represents the start of a new era where the digital asset can serve as collateral, liquidity, and a yield-generating instrument.

XRP enters DeFi through FXRP

For more than a decade, XRP has been widely used for fast and efficient settlement at scale.

With FXRP, Flare has extended this utility by introducing composability, allowing XRP to interact seamlessly within decentralised applications.

Each FXRP token is a one-to-one representation of XRP, backed by an overcollateralized system of independent agents and Flare’s native data protocols.

The composability of FXRP means it can be integrated directly into protocols without requiring special workarounds.

Once minted, FXRP can be freely deployed within the Flare ecosystem, enabling broader participation in DeFi activities that were previously inaccessible to XRP.

How Flare users can mint and acquire FXRP

According to the guidelines issued by Flare, Minting FXRP requires Flare users to acquire XRP on the XRP Ledger and move it into a self-custody wallet that supports both XRPL and Flare, such as Ledger or Bifrost.

From there, minting tools like AU or Oracle Daemon can be used to convert XRP into FXRP.

To ensure a secure rollout, minting is capped at five million FXRP during the first week, with limits set to rise gradually over time.

For those preferring a simpler route, FXRP is also available on decentralised exchanges (DEXes), including SparkDEX, BlazeSwap, and Enosys.

In addition, wallets such as Luminite and Oxen Flow offer built-in swap functionality, making it easy to acquire FXRP directly.

Luminite additionally supports minting, redeeming, and cross-chain bridging, while Oxen Flow provides mobile-first access with tools for staking, swapping, and bridging assets.

Incentives to drive adoption

To encourage early participation, Flare is offering incentives in the form of rFLR distributed across DeFi pools that contribute to total value locked and on-chain activity.

At launch, a Kinetic FXRP supply pool is targeting an annual percentage rate of 5%, while a Kinetic FXRP/USD?0 isolated pool has been designed to minimise risk by using USD?0 as the primary borrowing asset.

Liquidity pools pairing FXRP with USD?0 on SparkDEX, BlazeSwap, and Enosys are also set to deliver a target APR of 50%.

These incentives are only the beginning. In the coming weeks, FXRP and liquid-staked XRP, known as stXRP and powered by Firelight, will be integrated more broadly across the Flare ecosystem.

Future plans include using FXRP as collateral for loans within Enosys, creating the first XRP-backed stablecoin with a stability pool incentivised by rFLR, launching yield markets with curated vaults, and expanding the range of strategies available for generating returns.

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