Flare Network Introduces earnXRP Yield Product for XRP Holders

Flare Network has launched a new yield-focused product for XRP holders, developed with Upshift and Clearstar. This product allows investors to earn returns without selling their XRP.

The product, earnXRP, is the first on-chain yield solution fully denominated in XRP.
It uses Flare’s FAssets system, representing XRP as FXRP on a one-to-one basis.
Investors can deposit FXRP into an on-chain vault for yield-generating strategies.
Users receive a receipt token tracking deposited FXRP and accrued yield.
Earnings remain denominated in XRP, simplifying DeFi participation.
Withdrawals are flexible, converting earnXRP tokens back to FXRP.

The launch highlights a significant utility development, although immediate market reaction has been limited. Despite being a top cryptocurrency, only 0.1% of XRP supply is utilized in DeFi.

XRP

Broader market conditions and macro sentiment continue to influence XRP's price, which remains below $1.9.