TREE NEWS reports: Firelight, incubated by Sentora, secured $8 million to backstop DeFi vaults using staked XRP, with $76 million already staked on Flare. Its first cover integrations launch this month, tapping a market where onchain protection covers only 0.1% of DeFi.
Firelight Raises $8M to Back DeFi Vaults with Staked XRP
Related Coin Charts
AI take
This funding signals a push to bridge XRP liquidity into DeFi risk markets, where protection coverage remains negligible. The significance lies in using staked XRP as collateral for backstopping vaults, potentially unlocking a new capital layer for Flare-based protocols. The immediate impact is on vault operators and DeFi users seeking cover, though the 0.1% coverage rate underscores how early this niche is. Worth watching is whether the $76 million staked base and first integrations this month can demonstrate real demand, or if the market stays too thin to matter.
Generated by AI for reference only.
Share on WeChat
Open WeChat → Scan → then tap "…" to send to a chat or Moments.
Tap "…" in the top-right corner to send to a chat or share to Moments.
Related News
2h ago
Aave Halts New tBTC Deposits and Borrowing After Threshold Maintenance Update
4h ago
Rates Exchange Raises Coinbase Ventures Investment for On-Chain Rate Trading
7h ago
USDC Circulation Falls ~800M in 7 Days to 70B, Reserves at $71.4B
8h ago
Huobi HTX Launches ‘Warm Winter’ Earn Campaign With 10% Annualized Bonus
12h ago
SEC Innovation Exemption Draws Three Tokenized-Stock Venues; Nasdaq Objects
14h ago
Canton Strategic Holdings to Tokenize Shares Under SEC Exemption