Flare Network has integrated its FXRP FAsset with decentralized derivatives venue Derive, allowing XRP holders to trade on-chain options and perpetual futures directly from their own wallets.
Users mint FXRP through Flare's FAssets bridge, deposit it into a Derive Portfolio Margin V2 account, and use the same collateral for hedging, premium generation, and directional trades without relying on a centralized exchange.
XRP options are cash-settled in USDC. If a position expires in the money, Derive pays the difference in USDC while FXRP remains posted as collateral, meaning settlement does not move underlying XRP. Sellers must keep enough USDC to cover potential payouts and margin requirements or face forced liquidation.
Derive is built on infrastructure from Lyra Finance and runs options, perpetual futures, and spot trading through one portfolio margin system. The project has recorded more 30-day notional options volume than any other on-chain venue tracked by DefiLlama, with total value locked near $118 million. Nick Forster, co-founder and CEO of Derive, said options are often the last major market to develop around an asset, and XRP has been waiting for the infrastructure. He added that FXRP gives one of crypto's largest holder bases a credible path on-chain.
FXRP reached mainnet in September 2025 with a first-week cap of 5 million tokens, which was filled within four hours. More than 155 million FXRP had been minted within seven months. Flare said FXRP deployed across DeFi applications rose from 82 million to 144 million since February, while more than 40 million XRP was earned through Flare Smart Accounts across nearly 24,000 accounts. An FXRP/USDC spot pair has also been listed on Hyperliquid. DeFi analyst Will Procheska said XRP has one of the most committed long-term holder bases in crypto and until now had no permissionless options market to generate yield or hedge against their position.
