One year after FXRP launched on September 24, 2025, Flare has reported roughly 145.2 million FXRP minted, with about 130 million already deployed across DeFi protocols. The more significant figure may be utilization: approximately 89.5% of the reported FXRP supply is actively used in yield strategies, lending markets and collateral positions, rather than sitting idle in wallets.
Flare’s one-year update shows the asset has generated around 7.8 million DeFi transactions, and roughly 21 million FXRP—about 14.4% of outstanding supply—has moved to other chains through LayerZero’s OFT standard. Demand was immediate from the start: the initial 5 million FXRP minting cap filled in about four hours, and supply passed 90 million by the end of January. FXRP deployed in DeFi climbed from 82 million in February to 144 million by July.
FXRP is designed as a 1:1 representation of XRP that makes the asset programmable without changing the XRP Ledger. Native XRP remains on XRPL while Flare verifies the underlying payment and mints corresponding FXRP. The system is overcollateralized, with backing XRP remaining on XRPL rather than migrating permanently.
The ecosystem has expanded beyond basic yield products. FXRP holders can now use XRP-linked collateral to borrow Ripple’s RLUSD stablecoin through an Ethereum lending market, obtaining dollar liquidity while retaining XRP price exposure. Flare has also added vault strategies, liquid staking and derivatives. Its August integration with Derive allows FXRP to serve as collateral for options and perpetual futures. Current Flare Metrics data puts FXRP supply at about 145 million, with roughly 85% of current minting capacity already used.
