Flare’s FAsset Representation of XRP (FXRP) Has Nearly 90% of Supply in DeFi

Nearly 90% of Flare’s FAsset representation of XRP (FXRP) supply was deployed in decentralized finance by Oct. 5, while about 95% of the July deployed amount remained after liquidity incentives ended. FXRP represents XRP for use in DeFi applications. The XRP Ledger does not support general-purpose smart contracts, so FXRP lets XRP-linked value be used in applications built for those functions. The near-90% figure compares about 129 million deployed FXRP with roughly 145 million in circulation as of late September.

Source: TokenPost