Overview
- Users deposit FXRP, a 1:1 representation of XRP on Flare, and receive earnXRP, a receipt token that tracks principal and accrued yield.
- Capital is deployed across diversified strategies including carry trades, Firelight staking and cover underwriting, and concentrated liquidity in AMMs.
- All returns are automatically compounded back into XRP, and withdrawals burn earnXRP to return FXRP to users’ wallets.
- The product is a transparent, non-custodial vault that aggregates multiple onchain strategies into a single, automated deposit experience.
- The launch is framed as expanding XRP’s DeFi footprint on Flare, with Upshift noting that only about 0.1% of XRP supply is currently used in DeFi.