This is huge! Let me explain why in simple terms: A CDP allows users to deposit crypto collateral and mint a loan in stablecoins against it. This will now be possible for FXRP, meaning billions of dollars worth of XRP can now be put to work via stablecoins that can earn yield and participate in DeFi. Everything onchain and in a decentralized way. The power of XRPFi powered by Flare is beginning to take shape.
The first XRP-backed stablecoin comes to @FlareNetworks with @enosys_global Loans ☀️ → Launching with FXRP and wFLR, then stXRP and other FAssets → Backed by Collateralized Debt Positions (CDPs) mechanism → @LiquityProtocol V2 friendly fork + Stability pools + FTSO-powered pricing → rFLR rewards for early usersFor XRP: Extra utility. For XRP holders: liquidity without selling. For Flare: deeper FAssets adoption + stablecoin liquidity for DeFi. Learn more:
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