Flare Expands XRP Financial Applications to One-Year Milestone
FXRP has reached its one-year milestone on Flare as the network expands the number of financial applications available to XRP holders. The token, which represents XRP on Flare as an ERC-20 token, was launched through Flare's FAssets system on September 24, 2025.
The initial minting limit of 5 million FXRP was filled within four hours, demonstrating strong demand for the asset. Since its launch, several protocols have built products around FXRP, including lending markets from Kinetic and liquidity venues from SparkDEX, BlazeSwap, and Enosys.
Firelight uses FXRP to build onchain cover, turning staked XRP into capital designed to provide capital against risks such as exploits, oracle failures, and bad debt. Spectra brought fixed-rate and yield trading to the asset, while Upshift's earnXRP and Clearstar added vault-based strategies.
Enosys also introduced a way to use FXRP as collateral for debt, expanding its use into credit markets beyond liquidity and yield applications. Flare has also made changes to its token economics, reducing annual FLR issuance from 5% to 3% through FIP.16.