FXRP marks one year since launch with expanded DeFi integrations including lending, staking, and liquidity on Flare Network.
DeFi & Yields ·
FXRP, the first asset issued through Flare's FAssets system, marked its first anniversary on the network after launching on September 24, 2025, with its initial 5 million supply filled within roughly four hours. The milestone reflects substantial growth in DeFi applications built around the token, including lending markets through Kinetic, liquidity venues from SparkDEX and BlazeSwap, staking via Firelight's cover protocol, and yield-trading services from Spectra. FXRP operates as an ERC-20 representation of XRP on Flare, backed by XRP held on the XRP Ledger and verified through Flare's FDC oracle.
The ecosystem expansion extends beyond Flare itself. FXRP spread to Ethereum and Base in 2026, while Flare Smart Accounts have simplified cross-chain access by connecting XRP Ledger activity directly to Flare applications through wallet integrations with Xaman and hardware providers like D'CENT. In May, Flare partnered with D'CENT to enable users to access XRP yield products and vaults without switching chains or acquiring separate gas tokens. Separately, Flare reduced annual FLR issuance from 5% to 3% and lowered the annual issuance ceiling to 3 billion FLR through governance changes.
The network is advancing infrastructure beyond XRP, developing Flare Confidential Compute and Protocol Managed Wallets with initial deployment planned on Songbird. An August Morpho market on Ethereum enabled FXRP to serve as collateral for RLUSD borrowing, broadening use cases into credit markets. The extent to which these new systems will scale and integrate across multiple asset classes remains to be demonstrated.