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Crypto

XRP Holders Can Earn Yield with Firelight DeFi Coverage

Guavy AI Editorial Team
Instruments
XRP
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Firelight, a protocol on the Flare network, allows XRP holders to deposit their tokens as collateral and earn premiums through DeFi insurance coverage. The platform has attracted around $72 million in deposits but hasn't disclosed its premium income generated yet.

Withdrawal times currently range from 1-2 days, but will extend to 30-60 days when 30-day coverage periods start. Rewards cease immediately upon unstaking, and claims during coverage periods can reduce the final payout.

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