Flare’s DeFi ecosystem just took a major step forward. Enosys has officially launched Enosys Loans, the first Collateralized Debt Position (CDP) protocol on the network—bringing a trustless, overcollateralized, XRP-backed stablecoin into the Flare ecosystem for the very first time.
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The launch begins with support for FXRP and wFLR, with staked XRP (stXRP) coming next. For XRP holders, this unlocks something entirely new: borrow against XRP without selling it—while earning additional yield across Flare DeFi.
How the Launch Works
Users can now deposit FXRP or wFLR into Enosys Loans, open a CDP (“Trove”), and mint the new decentralized stablecoin. Initial configuration:
FXRP mint cap: $4M
wFLR mint cap: $1M
Minimum debt per Trove: $500
stXRP collateral: coming soon
Early users who stake the stablecoin in the Stability Pool or provide liquidity on supported DEXs become eligible for rFLR incentives, strengthening early adoption.
How CDPs Power a Decentralized Stablecoin
Enosys Loans follows the same model used by leading decentralized stablecoins across DeFi: Users lock collateral → mint stablecoins → collateral maintains the peg. With this system:
XRP holders unlock liquidity without selling their assets
The Stability Pool protects the system during liquidations
Stakers earn real yield from mint fees, interest, and liquidation gains
A core advantage: pricing data comes directly from the Flare Time Series Oracle (FTSO)—a decentralized feed aggregated from independent signal providers. This removes reliance on centralized oracles and strengthens peg stability.
A Friendly Fork of Liquity V2 — Optimized for Flare
Liquity is one of DeFi’s most battle-tested stablecoin engines, known for its resilience and its ability to maintain peg stability through extreme volatility. Enosys Loans brings Liquity V2 to Flare, with enhancements including:
User-defined borrowing rates
Greater capital efficiency
Protocol-incentivized liquidity
Immutable, permissionless architecture
For the first time, XRP holders can mint a decentralized stablecoin backed by their own assets—opening pathways to borrowing, liquidity provision, and yield generation across the Flare ecosystem.
Borrowers pick their own APR, but with an important tradeoff: Positions with the lowest interest rates are redeemed first if the stablecoin dips below $1.
stXRP Makes XRP Twice as Productive
After launch, Enosys will add support for stXRP, the liquid staking token from Firelight. This allows XRP holders to:
Earn staking rewards
Borrow against their staked XRP
Use stXRP across DeFi as a composable collateral asset
This is a key milestone for XRP’s evolution in DeFi—especially on Flare.
Why This Launch Matters
Flare’s first XRP-backed stablecoin: A decentralized stablecoin collateralized by XRP now lives natively on Flare—unlocking new utility and liquidity.
stXRP becomes foundational collateral: Liquid-staked XRP gains meaningful purpose across lending, trading, and yield strategies.
Expanded usage of FAssets: Every newly minted stable boosts FAssets demand and strengthens network-wide liquidity flows.
rFLR incentives accelerate early adoption: Users who mint, stake, or LP the stablecoin can earn rFLR—bootstrapping liquidity and ecosystem activity.
What’s Next for Enosys Loans
This launch is just phase one. Next up: support for additional collateral types like FLR and more FAssets, deeper integrations with Flare-native DeFi apps, and more advanced borrowing flows and cross-protocol liquidity routes—all aimed at building a stable, decentralized liquidity layer powered by XRP.
To use Enosys Loans, bridge and mint FXRP at fassets.au.cc/mint or fasset.oracle-daemon.com/flare, then open a CDP at loans.enosys.global.
