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First-Ever XRP-Backed Stablecoin Loans Go Live on Flare via Enosys


First-Ever XRP-Backed Stablecoin Loans Go Live on Flare via Enosys

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The Web3 software development entity Enosys has introduced a new type of stablecoin loan to the interoperability layer-1 network, Flare. These loans are backed by Ripple’s native cryptocurrency, XRP.

According to a press release sent to CryptoPotato, a Collateralized Debt Position (CDP) protocol will power the loans. It will allow XRP holders to mint overcollateralized stablecoins on Flare.

Read the article at CryptoPotato

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Coins

$ 1.10

+0.53%

$ 0.157

-2.24%

$ 0.00646

-1.31%

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