What is Firelight?

Firelight is a decentralized risk coverage protocol and liquid staking platform built exclusively on the Flare Network. Operating as an on-chain protection layer, the protocol allows holders of bridged XRP (FXRP) to stake their assets in exchange for stXRP, a liquid receipt token that remains fully composable across the broader decentralized finance (DeFi) ecosystem. By aggregating this staked capital, Firelight provides robust financial backing for smart contract coverage, protecting decentralized applications and their depositors against potential exploits, technical vulnerabilities, and systemic liquidity shocks.

Beyond its core staking mechanics, the platform establishes a structured marketplace for risk transfer without relying on traditional underwriters. Program operators can seamlessly elect coverage for their specific vaults, paying ongoing fees that are ultimately distributed to the stakers providing the underlying collateral. Supported by an independent Risk Consortium that validates incidents and triggers transparent payout mechanisms, Firelight bridges the gap between capital efficiency and systemic safety, offering a highly resilient security infrastructure for the next generation of institutional and retail DeFi participants.