Flare Network Launches earnXRP Yield Product with Target Yields up to 10%

The Flare Network has launched a new yield product called earnXRP, which allows users to deposit FXRP (a wrapped version of XRP) into a vault that deploys capital across various on-chain strategies.

Only 0.1% of the XRP supply is currently utilized in DeFi, despite being the fifth-largest cryptocurrency by market capitalization, according to Ethan Luc, growth lead at Upshift.

earnXRP targets yields ranging from 4% to 10%, depending on vault size. For vaults between $1 million and $10 million, target yields of 7% to 10% are reasonable, said Jashiel Alamo, head of research at Clearstar Labs.