Flare ☀️

Here’s how @FlareNetworks makes this possible: XRP is minted as FXRP on Flare through FAssets, with the Flare Data Connector verifying the XRPL transaction. That FXRP can then be staked in Firelight, where it provides shared capital backing cover for DeFi protocols. Kraken’s USDC vault is now one of the products benefiting from this. @Firelightfi manages the coverage terms, pricing and limits onchain. If a covered incident results in losses, an independent validation process can trigger stablecoin payouts backed by the protocol’s capital. And with Flare Smart Accounts, users can even initiate the minting and staking process directly from an XRPL wallet.

As the @FlareNetworks provider ecosystem grows, we’re also seeing different community-built lists emerge to help users discover and evaluate providers. These lists can use different methodologies and prioritize different things. That means they may not include exactly the same providers, and that is expected. Different lists can reflect different views of what matters when evaluating the provider ecosystem. Flare does not officially endorse one specific community list as the standard. For Flare-operated products such as the Portal and Systems Explorer, provider discovery can draw from multiple sources and signals rather than treating any single list as authoritative. We’ve updated this today so providers appearing across the current community lists can be surfaced. We think having independent lists is useful. They give the community different views of the provider ecosystem and help show what different groups consider important when evaluating providers. 🔗 Explore the different providers here: portal.flare.network/staking flare-systems-explorer.flare…

XRPFi is one example of what Flare’s data infrastructure can enable. But there’s more. FTSO and FDC bring verified market and external data onchain. FCC adds confidential computation, opening up markets that can’t run on public data alone. Catch Hugo today at Swell.