Firelight Starts DeFi Cover Backed by 50.2M Staked XRP on Flare

The notable design choice here is the pairing of on-chain staked collateral with a small, named claims consortium, which trades the usual token-vote governance for something closer to traditional insurance committee review — faster, but concentrated. That matters most for XRP holders seeking yield on Flare, since the same staked XRP underpinning payouts is also the economic layer under the coverage. The open questions are whether a three-of-five vote proves credible under a contested claim, and whether the pending audits land before meaningful capital is at risk.