On September 24, 2025, Flare Network officially launched FXRP, the first FAsset to go live on its mainnet. FXRP is a synthetic, wrapped version of XRP that enables the token to be used within decentralized finance (DeFi) applications on Flare's blockchain. This milestone allows XRP, a non-programmable asset, to gain composability and integrate into DeFi protocols for trading, lending, stablecoin minting, and liquidity provision.
The minting process for FXRP involves users locking their XRP tokens as collateral through Flare's network of independent agents, such as AU and Oracle Daemon. To ensure a secure rollout, minting is initially capped at 5 million FXRP in the first week, with plans to gradually increase this limit. Immediately upon launch, FXRP became available on several decentralized exchanges (DEXes) including SparkDEX, BlazeSwap, and Enosys, and is supported by wallets like Luminite and Oxen Flow for seamless swapping.
Flare is incentivizing adoption by distributing rewards in rFLR tokens to liquidity providers. Pools like FXRP/USDT are offering annual percentage rates (APRs) as high as 50%. The system has undergone extensive security audits by firms like Zellic and Coinspect, complemented by bug bounty programs and 24/7 monitoring from Hypernative. Future integrations include linking FXRP with stXRP from the upcoming Firelight project, which will enable collateralized borrowing and yield-generation strategies, further expanding XRP's utility in DeFi.
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