Flare's FXRP token is now accepted as collateral on Derive for on-chain options and perpetual futures trading, giving XRP holders non-custodial access to derivatives.
DeFi & Yields ·
Flare's FXRP token is now accepted as collateral on Derive, enabling XRP holders to access on-chain options and perpetual futures trading without surrendering custody of their assets. The integration allows users to trade directly from their wallets, with options contracts settled in USDC. This development removes reliance on centralized exchanges for derivatives exposure.
FXRP adoption has expanded to over 155 million tokens minted, reflecting growing integration across DeFi applications. The collateral acceptance on Derive adds a new use case for the token, enabling XRP holders to hedge positions and generate options premium while maintaining non-custodial control.
The mechanics of cash settlement in USDC and the specific risk parameters or trading limits on Derive remain unclear from available details. Whether this integration drives material trading volume or represents a broader shift in XRP ecosystem development remains to be determined.