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XRP Holders Can Now Mint Stablecoins on Flare with Enosys’ New Loan Protocol


by Abdulkarim Abdulwahab
for CoinEdition

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XRP-backed stablecoin loans debut on Flare as Enosys introduces new DeFi protocol
  • Enosys introduces the first-ever XRP-backed stablecoin loan protocol on Flare, using the Liquity V2 model.
  • XRP holders can mint overcollateralized stablecoins without selling their assets.
  • Plans include supporting staked XRP (stXRP) for additional DeFi benefits.

Enosys has launched Enosys Loans, a collateralized debt position (CDP) protocol that lets XRP holders mint an overcollateralized stablecoin without selling their assets. It’s the first XRP-backed stablecoin loan service live on Flare

The product uses FXRP, a wrapped version of XRP, as the initial collateral with plans to support staked XRP (stXRP) in the future.

This development marks the first time a decentralized stablecoin is fully backed by XRP. In other words, the launch expands XRP’s role from payments into yield-generating decentralized finance (DeFi) activities.

Related: XRP Staking and De…

Read The Full Article XRP Holders Can Now Mint Stablecoins on Flare with Enosys’ New Loan Protocol On Coin Edition.

Read the article at CoinEdition

In This News

Coins

$ 2.26

-0.84%

$ 14.06

$ 0.000113

$ 0.000161


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In This News

Coins

$ 2.26

-0.84%

$ 14.06

$ 0.000113

$ 0.000161


Share:

Read More

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Ripple CTO Says XRPL Functions Like Bitcoin with Extra Features, Not a Passive Income Tool

Ripple CTO David Schwartz has weighed in on the ongoing controversy by Matthew Sigel,...
XRP’s ‘Sell the News’ Moment: Crashes 10% Within 24 Hours of Its First U.S. Spot ETF Launch

XRP’s ‘Sell the News’ Moment: Crashes 10% Within 24 Hours of Its First U.S. Spot ETF Launch

XRP’s 10% price decline in the past 24 hours is being analyzed as a textbook example ...

XRP Holders Can Now Mint Stablecoins on Flare with Enosys’ New Loan Protocol


by Abdulkarim Abdulwahab
for CoinEdition

Share:

XRP-backed stablecoin loans debut on Flare as Enosys introduces new DeFi protocol
  • Enosys introduces the first-ever XRP-backed stablecoin loan protocol on Flare, using the Liquity V2 model.
  • XRP holders can mint overcollateralized stablecoins without selling their assets.
  • Plans include supporting staked XRP (stXRP) for additional DeFi benefits.

Enosys has launched Enosys Loans, a collateralized debt position (CDP) protocol that lets XRP holders mint an overcollateralized stablecoin without selling their assets. It’s the first XRP-backed stablecoin loan service live on Flare

The product uses FXRP, a wrapped version of XRP, as the initial collateral with plans to support staked XRP (stXRP) in the future.

This development marks the first time a decentralized stablecoin is fully backed by XRP. In other words, the launch expands XRP’s role from payments into yield-generating decentralized finance (DeFi) activities.

Related: XRP Staking and De…

Read The Full Article XRP Holders Can Now Mint Stablecoins on Flare with Enosys’ New Loan Protocol On Coin Edition.

Read the article at CoinEdition

In This News

Coins

$ 2.26

-0.84%

$ 14.06

$ 0.000113

$ 0.000161


Share:

In This News

Coins

$ 2.26

-0.84%

$ 14.06

$ 0.000113

$ 0.000161


Share:

Read More

Ripple CTO Says XRPL Functions Like Bitcoin with Extra Features, Not a Passive Income Tool

Ripple CTO Says XRPL Functions Like Bitcoin with Extra Features, Not a Passive Income Tool

Ripple CTO David Schwartz has weighed in on the ongoing controversy by Matthew Sigel,...
XRP’s ‘Sell the News’ Moment: Crashes 10% Within 24 Hours of Its First U.S. Spot ETF Launch

XRP’s ‘Sell the News’ Moment: Crashes 10% Within 24 Hours of Its First U.S. Spot ETF Launch

XRP’s 10% price decline in the past 24 hours is being analyzed as a textbook example ...