Flare co-founder Hugo Philion has revealed the impending yield maturity of $134 billion in XRP on the network’s FXRP and native XRP staking program. This marks the protocol’s first yield since the Flare Open Beta launched last December, with FXRP debuting on Songbird.
$134Bn of XRP will soon be able to get yield on Flare through FXRP and also native XRP Staking.
— Hugo Philion ☀️ (@HugoPhilion) February 7, 2025
Philion’s announcement sparked mixed reactions among Flare community members posting on X. Some critics questioned the plans, citing concerns over crypto custody liabilities and potential risks. They now await confirmation of the CEO’s promise.
Related:Bug in Flare Network Leaves Unclaimed User Rewards Unclaimable
Meanwhile, the project’s optimists expressed excitement over the yield reward announcement, highlighting their expectations, and seeking for more clarity about the execution process. One such optimist asked if the rewards will be paid in XRP.
It is noteworthy that Flare rolled out FXRP, a tokenized version of XRP, on its canary network, Songbird. This launch opened up programmable opportunities for assets that cannot natively integrate with smart contracts.
During a December announcement, Flare Network stated that its L1 programmable blockchain would prioritize data handling. It described FXRP as an XRP-linked, DeFi-enabled asset, which clarified a respondent’s query about the safety of FXRP’s DeFi features.
Flare Network’s FRXP joins several products that emerged around XRP following a build up of positive sentiment around the crypto project as the case between Ripple and the SEC nears conclusion. The influx of products triggered a bullish momentum for the cryptocurrency even though the court is yet to make a final ruling on the case.
Related: Ripple SEC Settlement May Arrive by April, Says Lawyer
Additionally, Donald Trump’s promise of a friendlier regulatory environment and the US focus on crypto development have raised expectations for XRP-related products, contributing to the stir following Philion’s latest announcement.
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