Firelight raised $8 million, expanding its business from XRP to the entire DeFi ecosystem.
According to CoinDesk, the protocol does two things: helps fintech firms and investors recover losses faster after a hack; and enables holders of XRP and XLM to earn yields through staking.
In plain terms, it’s insurance for DeFi. It backsstop hack risks with crypto assets and offsets the exposures traditional institutions fear most in a market-based way.
$8 million is not a small amount for an infrastructure protocol. There is real demand from capital for regulated, compliant DeFi insurance.
#XRP
According to CoinDesk, the protocol does two things: helps fintech firms and investors recover losses faster after a hack; and enables holders of XRP and XLM to earn yields through staking.
In plain terms, it’s insurance for DeFi. It backsstop hack risks with crypto assets and offsets the exposures traditional institutions fear most in a market-based way.
$8 million is not a small amount for an infrastructure protocol. There is real demand from capital for regulated, compliant DeFi insurance.
#XRP