XRP holders can now borrow RLUSD on Ethereum through $280 million lending pool
XRP holders can now borrow RLUSD against their coins on Ethereum without selling, through a $280 million vault that had never accepted an XRP-linked asset before.
XRP holders can now borrow against their tokens on Ethereum without needing to sell them, thanks to a new $280 million lending pool managed by Sentora. The Flare blockchain, which allows XRP to be used in decentralized finance, has accepted the wrapped version of XRP, called FXRP, as collateral for a new isolated FXRP/RLUSD market on Morpho Blue.
This means that borrowers can post their FXRP and take out RLUSD, without having to sell their XRP. The approval process involved Sentora reviewing the market behavior, oracle design, liquidity, and liquidation capacity of FXRP under its institutional risk framework. Users must mint FXRP through Flare's FAssets system, bridge it to Ethereum via Stargate, deposit it into the market, and then borrow at their chosen loan-to-value ratio.
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