$XRP $XRP $XRP
Flare Expands XRP Lending
Philion said he believes the development should help expand XRP’s market base. He also said Flare has played a leading role in making XRP a collateral asset and has so far seen strong results in this area.
According to Philion, this progress benefits the XRP community, Ripple, and investors who see XRP as an asset worth holding.
The Flare CEO then highlighted the difference between Flare’s current lending setup and the upcoming XLS-66 protocol.
He explained that Flare’s integration with Morpho on mainnet and Sentora allows users to borrow RLUSD, with other stablecoins potentially added later, using XRP as collateral.
With this, a user could provide $1.50 worth of XRP and borrow $1. He said this gives XRP holders a direct way to put their tokens into a lending market and borrow against them.
However, XLS-66 works differently because it focuses on uncollateralized lending. This method would allow borrowers to arrange their credit rating or payment guarantee off-chain.
As a result, Philion said XLS-66 does not provide the same function as Flare’s system, where users can use XRP to borrow dollars. He added that Flare plans to keep expanding this market and develop more products around XRP as collateral.
Flare Expands XRP Lending
Philion said he believes the development should help expand XRP’s market base. He also said Flare has played a leading role in making XRP a collateral asset and has so far seen strong results in this area.
According to Philion, this progress benefits the XRP community, Ripple, and investors who see XRP as an asset worth holding.
The Flare CEO then highlighted the difference between Flare’s current lending setup and the upcoming XLS-66 protocol.
He explained that Flare’s integration with Morpho on mainnet and Sentora allows users to borrow RLUSD, with other stablecoins potentially added later, using XRP as collateral.
With this, a user could provide $1.50 worth of XRP and borrow $1. He said this gives XRP holders a direct way to put their tokens into a lending market and borrow against them.
However, XLS-66 works differently because it focuses on uncollateralized lending. This method would allow borrowers to arrange their credit rating or payment guarantee off-chain.
As a result, Philion said XLS-66 does not provide the same function as Flare’s system, where users can use XRP to borrow dollars. He added that Flare plans to keep expanding this market and develop more products around XRP as collateral.