BULLISH 📈 : Flare Network bridges 91M XRP, boosts DeFi yield options

Flare Networks has bridged approximately 91.69 million XRP onto its network, with about 75% actively used on-chain. The Flare XRP Yield Vault has achieved over $10.54 million in Total Value Locked (TVL) within 30 days, providing new yield opportunities for XRP holders.

Deployment and Infrastructure

The FXRP wrapper maintains a 100% reserve ratio with 91.67 million tokens.
The high deployment rate indicates active engagement with strategies beyond simply earning bonuses.
The vault system by Upshift automates yield generation and applies risk controls.

While similar models are adopted by firms like Axelar and Hex Trust, offering wrapped XRP tools for yield generation, Ripple continues to expand its business operations. Recently, Ripple led a $500 million funding round and obtained regulatory approvals in the UK.

Despite these advancements, concerns remain regarding the complexity of using bridges and smart contracts, which have historically led to disruptions in the sector.