"Firelight introduces a capital-efficient cover layer that uses staked XRP as collateral. This enables protocols to purchase protection against smart contract exploits, oracle failures, bridge vulnerabilities and economic risks."
"It's an economic layer that prices risk, absorbs losses and continuously signals what's actually safe. Stakers earn rewards tied directly to demand for coverage, creating a sustainable underwriting engine."
Firelight has achieved over 50 million XRP staked, following significant deposits and an increased cap of 65 million FXRP. The initial cap of 25 million FXRP was filled within six hours, indicating strong demand. Built on the Flare Network, Firelight combines XRP staking with DeFi cover, addressing the need for robust risk infrastructure. Recent exploits in the DeFi sector emphasize this necessity. Firelight uses staked XRP as collateral for protection against various risks, allowing stakers to earn rewards based on coverage demand.
Read at news.bitcoin.com
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