FAssets are Live: XRP Meets DeFi on Flare
Wen? Now.
FAssets are now live on Flare mainnet, starting with FXRP v1.2. With the long-awaited launch of the first FAsset, XRP holders now have the ability to mint FXRP on Flare and start putting XRP to work across Flare DeFi. This is the start of the XRP DeFi awakening.
A quick refresher on FAssets
FAssets are Flare’s protocol for turning non-smart contract-enabled cryptocurrencies like XRP into assets that can be used in DeFi on Flare and beyond. They are one-to-one representations of the original asset (e.g. XRP to FXRP) secured through an overcollateralized system of independent agents and secured by Flare’s enshrined data protocols. The result: non-smart contract assets gain access to the full potential of Flare’s composable decentralized finance ecosystem, including DEX trading, lending, stablecoin minting, liquid staking, and other use cases.
FAssets are built for composability. Once minted, FXRP can move freely across Flare’s DeFi ecosystem. This allows protocols to integrate FXRP directly as a native building block, without needing special workarounds.
How is FXRP secured?
Security for FAssets is an ongoing commitment, not a one-off milestone. The system has already undergone at least four independent audits by leading firms such as Zellic and Coinspect, alongside Immunefi-powered bug bounties and community-driven reviews like Code4rena.
Furthermore, the FAssets system and the DeFi applications on Flare are monitored 24/7 by Hypernative. There are also extensive rapid response and security processes in place.
Why so many layers? Because FAssets manage high-value, complex operations — trustless bridging, collateral management, and multi-chain minting — where security is non-negotiable. Institutional stakeholders, in particular, demand not only initial assurance, but ongoing verification that the system remains resilient to new threats.
The Flare Foundation will continue to invest in robust, scalable security measures to ensure FAssets uphold the highest standards of safety, trust, and reliability for both institutions and the XRP community.
How to acquire and use FXRP
Minting FXRP
The most direct way to acquire FXRP is to mint it yourself. Follow these steps below:
- Acquire XRP on the XRP Ledger (XRPL).
- If your XRP is on an exchange, withdraw it to a self-custody wallet that supports Flare and XRPL, which are Ledger and Bifrost.
- Head to AU or Oracle Daemon to mint FXRP.
⚠️ Note: To support a secure rollout, FXRP minting will be capped at 5 million FXRP in week one, with the cap gradually ramping up thereafter.
For step by step assistance, watch our FXRP minting guide:
For more technical documentation, please refer to https://dev.flare.network/fassets/overview.
Swapping on DEXes
Alternatively, FXRP is also available on DEXes (on Flare) for swapping:
- First, acquire any token on Flare.
- Head to a decentralized exchange like SparkDEX, BlazeSwap, or Enosys.
- Connect your wallet and use the Swap feature to swap your tokens for FXRP.
Other ways to acquire FXRP
Wallets such as Luminite and Oxen Flow will also offer built-in swap functionality.
- Luminite natively supports FAssets minting and redeeming, cross-chain bridging and includes a built-in swap to FXRP on Flare. It will soon be able to route any EVM token (e.g., from Arbitrum or Base) directly to XRP on the XRPL via Stargate + FAssets — no manual hops required.
- Oxen Flow is a self-custody mobile wallet that makes it seamless to onboard into the Flare ecosystem and interact with the FAssets system. The app empowers users to stake and swap FXRP, bridge assets with complete key control, and easily track their earnings while unlocking Flare’s cross-chain functionality and trustless DeFi opportunities.
Incentives at launch
To maximize impact and ensure sustainable growth, the FAssets incentives will be distributed in the form of rFLR only to DeFi pools that contribute meaningfully to total value locked or drive on-chain activity.
At launch, FXRP incentives will be directed to the following pools:
- Kinetic FXRP Supply: Target APR of 5%.
- Kinetic FXRP/USD₮0 Isolated Pool: Designed to isolate risk, with USD₮0 as the primary borrow asset against FXRP.
- FXRP/USD₮0 Liquidity Pools on:
- SparkDEX
- Blazeswap
- Enosys
- Target APR of 50%.
The launch incentives are only the beginning. In the coming weeks, FXRP and stXRP (liquid staked XRP powered by Firelight) will power deeper integrations across the Flare ecosystem:
- Enosys Loans (CDP) → FXRP will be enabled as collateral, with an rFLR-incentivized stability pool to support the first XRP-backed stablecoin.
- Yield market (launch soon) → Incentivized LP pools for PTs and select vaults, with stXRP positioned as the main deposit asset.
- Curated vaults for seamless management of yield generating strategies.
Once Firelight launches and stXRP becomes available, the full XRPFi flywheel will accelerate — engaging more ecosystem partners, expanding collateral options, and driving new layers of utility for XRP on Flare.