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Cardano Founder Seeks to Provide ‘Much Better Yields’ for XRP Holders

Cardano founder Charles Hoskinson has proposed an initiative that would enable XRP holders to earn significantly better yields.

Hoskinson made the announcement during a recent live broadcast. In a tweet, the popular Cardano media outlet Angry Crypto Show highlighted a segment of the broadcast in which Hoskinson suggested positioning Midnight as XRP’s DeFi layer.

Notably, Hoskinson’s initiative envisions Midnight, Cardano’s upcoming sidechain, as the decentralized finance (DeFi) hub of the XRP ecosystem.

Midnight Features 

Hoskinson first presented Midnight in 2022 as a privacy-focused sidechain for Cardano. Two years later, in 2024, Cardano’s research and development arm, IOG, launched the Midnight testnet.

Earlier this year, he revealed that XRP holders would participate in the upcoming Midnight airdrop, dubbed “Glacier Drop.” It plans to distribute NIGHT and DUST tokens to 37 million blockchain wallets, including XRP Ledger (XRPL) addresses. 

Midnight as XRP DeFi Layer 

Now, the Cardano founder aims for Midnight to serve as the DeFi layer of the XRP ecosystem, allowing XRP holders to earn rewards. This initiative would enable XRP holders to bridge their tokens to Midnight and deposit them into Cardano-based DeFi protocols to “get much better yields.”  

Other XRP Initiatives From Hoskinson 

Meanwhile, Hoskinson’s DeFi plan for XRP is just one piece of a broader roadmap envisioned for the token’s ecosystem. In April, Hoskinson confirmed that XRP would be integrated into Lace, Cardano’s non-custodial blockchain wallet. 

Additionally, discussions are ongoing regarding the potential integration of Ripple USD (RLUSD) stablecoin on the Cardano blockchain. Moreover, XRP holders would also participate in the upcoming Glacier Drop, slated for later this year. In a recent engagement on X, the Cardano founder referred to these initiatives as a ‘whole package’ for XRP.’ 

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Charles Hoskinson Teases XRP Package

Cardano founder enthusiastically embracing XRP despite past disagreements with community behind Ripple-linked token.

Glacier Drop is the official name for Midnight’s massive multi-chain airdrop, which was announced by Hoskinson during Consensus 2025 in Toronto. The massive airdrop is targeting roughly 37 million blockchains, including XRP Ledger. Notably, only retail users will be eligible for the airdrop.

The NIGHT governance token and the DUST privacy-focused token will be distributed as part of the airdrop event. XRP holders are eligible for the airdrop by holding the tokens in a qualifying wallet.

As reported by U.Today, Hoskinson recently confirmed that Input Output’s Lace Wallet would also add support for the XRP cryptocurrency. Earlier this year, Cardano’s official lightweight wallet enabled multi-chain functionality by adding Bitcoin.

The Cardano co-founder has also repeatedly praised the Ripple USD (RLUSD) stablecoin, which is also known as “Real USD.” The stablecoin, which was rolled out in December, is currently powered by Ethereum and XRP Ledger, but it could also add support for Cardano in the future. Hoskinson previously stated that he was having discussions with the Ripple team. XRP is getting increasingly integrated into the Cardano decentralized finance (DeFi) ecosystem. In late 2024, Hoskinson opined that Cardano could offer XRP some “amazing” DeFi components. In February, a bridge that supports native XRP went live via Wanchain. Despite past disagreements, it seems like the Cardano ecosystem is ready to embrace XRP.
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