I am pleased to share with you the latest exciting news in the world of cryptocurrencies!
Flare launches non-custodial FXRP to expand XRP in decentralized finance (DeFi)
Flare announced the launch of FXRP, a non-custodial stablecoin, which opens new horizons for integrating XRP into the decentralized finance (DeFi) ecosystem.
What does this mean for the XRP community?
• Expanding DeFi: Users can now mint FXRP by depositing XRP as collateral. This allows them to participate in various DeFi activities such as trading, swapping, and lending, enhancing liquidity and opportunities.
• High security and trust: The system is characterized by being "over-collateralized" and verified through protocol-level mechanisms, meaning it does not rely on any central custodial entities. This provides a high level of security and decentralization.
• Opportunities for liquidity providers: Liquidity providers will earn up to 50% annual percentage rate (APR) in rFLR tokens across various decentralized trading platforms (DEXs), including SparkDEX and BlazeSwap. This is a great opportunity to increase profits!
@Boundless @Dolomite @Plume - RWAfi Chain @Somnia Official @XRP
