Something Big Is Brewing In XRP DeFi—And 91 Million Tokens Tell The Story

Flare Networks says it has turned a chunk of XRP from an idle holding into something that can earn returns. The moves are recent and the numbers are concrete enough to grab attention, yet they raise as many questions as they answer.

Flare Bridging And Activity

According to Flare, roughly 91.69 million XRP have been bridged onto its network. About 75% of that stock is said to be actively put to work onchain.

Reports say the Flare vault system shows 90.55 million XRP in its core vault after inflows and outflows were counted, and the FXRP wrapper is reported to hold 91.67 million tokens with a 100% reserve ratio.

The new Flare XRP Yield Vault crossed $10.54 million in TVL inside 30 days. That last figure is quick growth for a product aimed at XRP holders who until now had few options for earning yield.

High Deployment Rate

The high deployment rate suggests people are not simply parking assets to chase an easy bonus. Activity has been recorded across a set of strategies and the wrapped FXRP is being moved into other protocols.

That activity has been supported by a vault system built by Upshift, which automates yield processes and applies predefined risk controls. Reports indicate that returns are generated through a mix of onchain strategies, though details on how those yields may change over time have not been fully outlined.

Based on past market patterns, yield levels across crypto platforms have tended to decline once incentive programs are reduced. At the same time, the use of bridges and smart contracts introduces added technical complexity, which has previously led to disruptions and losses across the sector.

Reports note that other firms have adopted similar models. Axelar and Hex Trust are among those that issued wrapped XRP tools that earn returns when deployed. That means multiple places are trying to make XRP productive.

At the same time, Ripple — the company closely tied to XRP — has been active on the business side: a $500 million funding round was reported in November, and regulatory steps in the UK were announced in January, including an Electronic Money Institution license and cryptoasset registration.

GTreasury, acquired by Ripple for $1 billion in October, launched a product called Ripple Treasury this month. These moves add weight to the wider story but do not change the mechanics of how onchain yield is created or kept.

Featured image from Yahoo Finance, chart from TradingView