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1h ago

Midas Launches mXRP, a DeFi XRP Yield Token Targeting 6–8%

Axelar supplies interoperability—Hyperithm serves as risk curator—access is blocked in the U.S., U.K., sanctioned regions.

Xrp holders can now earn up to 8% through new liquid staking token

Overview

  • The new token is minted on the XRPL EVM as a transferable ERC-20 that users create by depositing XRP as collateral.
  • Targeted base returns are 6–8% paid in XRP from market-neutral strategies, with early approaches including market-making and liquidity provision.
  • Hyperithm functions as a third-party risk curator, managing the underlying strategies under audited smart contracts.
  • Designed for DeFi composability, the asset can be deployed across lending and other protocols to seek additional yield on top of the base return.
  • Access is unavailable to users in the U.S., U.K., or sanctioned jurisdictions, and Axelar’s Georgios Vlachos characterizes the mechanism as a potential “perpetual buyer” of XRP with $700 million in annual purchases under a $10 billion AUM scenario.