MoreMarkets chooses Flare to power the future of XRP yield

Flare is teaming up with MoreMarkets to launch the "XRP Earn Account," a new and secure way for XRP holders to earn yield. This integration enables MoreMarkets’ onchain yield-generation strategy on the Flare network, creating a seamless XRPfi experience that is intuitive and fully onchain.

Introducing MoreMarkets’ XRP Earn Account

XRP holders can soon earn secure and on-chain yield without navigating the complexities of multiple blockchains, bridges, or smart contracts. A user directly initiates the XRP bridging process from their own XRPL wallet through a dedicated feature on MoreMarkets. The feature facilitates a payment from the user's XRPL wallet to the FAssets system, Flare’s native bridge to initiate minting of FXRP. From there, the MoreMarkets platform automatically manages a series of DeFi strategies on Flare, such as lending or liquid staking FXRP with Firelight, to generate real yield.

All of this happens behind the scenes, ensuring the user's experience is as simple as possible. All earned rewards are automatically converted to XRP and paid out to the user's wallet. This collaboration unlocks new potential for XRP as a programmable asset, providing a straightforward and safe way for everyday users to participate in DeFi.

How this differs from other XRP yields

The Flare-MoreMarkets partnership creates a unique and comprehensive yield solution for XRP. It's a powerful value proposition: an on-chain, non-custodial solution that gives XRP holders a simple way to earn. Because the Flare mechanics are handled entirely by MoreMarkets, users will only interact with a single, user-friendly interface while enjoying these benefits.

Non-Custodial & Real Yield: A Secure Path to DeFi

The integration provides a genuine on-chain yield solution for XRP that is fully non-custodial, ensuring users retain control of their assets at all times.

• Secure Bridging: With the FAssets protocol, a user's native XRP always remains on the XRPL. A 1:1 representation called FXRP is minted on the Flare network, secured by collateral and verified by Flare’s on-chain oracles. There are no centralized custodians involved in the process.
• Liquid Staking: Firelight Protocol is designed to unlock protocol rewards for XRP holders. In the first phase of the launch, deploy FXRP to receive a liquid staking token (LST) and Firelight Points. The LST can be used across Flare’s DeFi ecosystem.. At feature-complete launch, users can deploy tokens into multiple vaults that secure Economically Secured Services (ESS) in exchange for fees. Economically Secured Services (ESS) lease security for high-impact DeFi use cases, creating a market for on-demand economic guarantees.

Institutional-Grade DeFi: Building for Security and Compliance

This new architecture is uniquely positioned to attract institutional demand for high-quality, secure, and compliant yield opportunities.

• Regulatory Alignment: Flare's focus on regulatory compliance and its partnerships with institutional-grade custodians like BitGo, Fireblocks, and Hex Trust provide a secure and trusted environment for professional investors.
• Secure & Transparent: The use of FAssets ensures a trust-minimized, transparent process for bridging and managing XRP, which meets the high security standards required by institutions.

The broader XRPFi movement on Flare and beyond

The collaboration positions Flare as a unique provider of institutional-grade XRPFi.

Hugo Philion, Co-founder & CEO of Flare: "This partnership is a powerful validation of Flare’s mission: to bring smart contract functionality and real-world data to the entire crypto ecosystem. While MoreMarkets has been building a promising solution for XRP holders, this collaboration positions Flare as the essential, permissionless utility layer that will power their next phase of growth. They are using us, and we couldn’t be more proud."

Altan Tutar, Co-founder and CEO of MoreMarkets: “Our mission is to make idle assets work for their holders without the headaches of DeFi. The XRP Earn Account is already delivering yield to hundreds of early adopters, and adding Flare gives them another high-quality path to earn. We're really excited to be working with Flare to build the most liquid XRP onchain ecosystem on Flare!”

The rollout will begin with FXRP support, followed by access to additional Flare lending markets.

About MoreMarkets

MoreMarkets is a self-custodial yield platform that lets users earn on their crypto without navigating DeFi complexity. The XRP Earn Account is live today with weekly yield payouts in XRP.

Website / App: moremarkets.xyz 

Official Twitter/X: @moremarketsxyz 

Discord Community: discord.gg/moretown