- Flare’s FAssets launch minted 5M XRP into FXRP within 4 hours, maxing out its weekly cap.
- FXRP opens XRP to full DeFi use, with $19M in collateral and reward pools kicking off.
- Flare targets institutional adoption once FXRP supply exceeds $100M, boosting liquidity.
Flare’s long-awaited FAssets project finally went live, and the results came fast—within just four hours, 5 million XRP had already been minted into FXRP. The launch came with a weekly minting cap to keep supply under control during its early days, but demand was so strong that every slot was filled immediately. According to co-founder Hugo Philion, this controlled rollout is meant to protect users from chaos, with larger caps planned in the coming weeks as things stabilize.
Demand Outpaces Supply
FXRP, which mirrors XRP in a one-to-one format, is already showing serious traction. With a circulating value of over $14 million and collateral topping $19 million, the first week’s mint was gobbled up in no time. Reward pools are starting small—just under $7,000—but interest has outpaced expectations. Philion did caution users against paying inflated prices on decentralized exchanges during this supply squeeze, saying temporary mismatches could spark short-term distortions. The message was clear: be patient, more FXRP is on the way.
XRP Steps Into DeFi
At its core, FAssets is meant to pull non-smart contract tokens like XRP into the heart of decentralized finance. By converting XRP into FXRP, holders can finally access the full suite of DeFi activities: lending, liquid staking, trading, and even stablecoin creation. Flare isn’t rushing this process; the network has undergone multiple audits from Zellic and Coinspect, launched a bug bounty program with Immunefi, and opened the door for community security reviews through Code4rena. The team is making sure security is baked in from the start.
Building for Institutions and Retail
Flare isn’t just aiming at crypto-native users. Once FXRP’s supply surpasses $100 million, the goal is to court institutional investors, strengthening liquidity and legitimacy for the entire network. In the meantime, FXRP can be minted through self-custody wallets like Ledger and Bifrost, or traded on decentralized exchanges such as SparkDEX, BlazeSwap, and Enosys. Wallet providers like Luminite and Oxen Flow are also working on simpler swap functions to onboard users faster. To sweeten the deal, DeFi pools bringing value to the ecosystem are rewarded with rFLR tokens, adding yet another incentive for early adopters.
