Flare Network’s $134B XRP Yield Announcement Stuns Crypto
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- Flare CEO announces yield reward maturity on staked XRP.
- Community members express mixed reactions following Hugo Philion’s announcement.
- Flare Network launched FXRP in December 2024.
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.
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…
The post Flare Network’s $134B XRP Yield Announcement Stuns Crypto appeared first on Coin Edition.
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