insurance

Core

DeFi

Flare

<a href="https://x.com/FlareNetworks" rel="noopener noreferrer nofollow">@FlareNetworks</a> has officially launched FAssets v1.3, a protocol upgrade that lets <a href="https://x.com/search?q=%24XRP&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$XRP</a> holders mint and redeem <a href="https://x.com/search?q=%24FXRP&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$FXRP</a> using native XRPL destination tags. The update sent <a href="https://x.com/search?q=%24FLR&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$FLR</a> climbing more than 12% on the day and roughly 24% over the prior seven days.
<h2 id="what-fassets-v1-3-changes">What FAssets v1.3 Changes</h2>
<cite>FAssets v1.3 is now live on Songbird, allowing users to mint FXRP directly from an XRP transaction without selecting an individual agent.</cite><cite>The upgrade adds destination tag and memo-based routing, making FXRP minting more compatible with wallets, exchanges, and custodians already used across the XRP ecosystem.</cite>
<cite>The core change is direct minting via XRPL destination tags: an XRP holder can send XRP from an XRPL address, including from an exchange that allows destination tags, and have FXRP minted directly to a Flare address, without going through a separate bridge interface.</cite><cite>The release also adds mint-side controls, including executor restrictions, proof-use binding, hourly and daily caps, delays on large mints, and a governance path for reviewed unblocking.</cite>
<cite>FXRP is the first live FAsset: a 1:1 representation of XRP on Flare, designed to make XRP usable across EVM DeFi while remaining connected to XRPL as the native asset and settlement layer.</cite> The protocol uses <a href="https://x.com/search?q=%24XRP&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$XRP</a> escrow and multi-sig infrastructure to secure Core Vault operations, while introducing yield mechanics for participants across lending, liquidity pools, and vault strategies.
<cite>Flare's FAssets v1.3 upgrade is live on mainnet and allows FXRP minting in a single XRPL transaction, treating future mints as simple XRP withdrawals from major centralised exchanges like Binance, Kraken, OKX, Upbit, and Bithumb.</cite>
<h2 id="firelight-phase-2-and-community-governance">Firelight Phase 2 and Community Governance</h2>
Alongside the FAssets upgrade, the Flare community is actively voting on the launch schedule for Firelight Phase 2, with a target window of May or June 2026. Early voters are eligible for $rFLR rewards. <cite>$rFLR vests linearly over 12 months, with 1/12 claimable monthly from the Portal, and early withdrawal of unvested rewards incurs a 50% penalty.</cite>
<cite>Firelight, Flare's liquid staking protocol for FXRP, is slated for its Phase 2 launch in the second quarter of 2026. This phase will introduce a fully activated DeFi cover and native XRP staking mechanisms, building on the initial liquid staking token (stXRP) launched in late 2025.</cite><cite>Firelight's broader goal is to give XRP holders a way to earn staking rewards while offering DeFi protocols an insurance layer against hacks and failures.</cite>
<cite>Flare is now the largest XRPFi ecosystem in the market, with approximately $200 million in XRP TVL anchoring a $440 million ecosystem, 28% growth over the period, and 3.4 million-plus FXRP DeFi transactions across roughly 16,500 users since launch.</cite>
Sources: <a href="https://flare.network/news/xrpfis-next-phase" rel="noopener noreferrer nofollow">Flare Network: XRPFi's Next Phase</a> <a href="https://www.theblock.co/post/381210/firelight-xrp-staking-flare-stxrp-defi-insurance" rel="noopener noreferrer nofollow">The Block: Firelight Launches XRP Staking Protocol on Flare</a> <a href="https://messari.io/report/flare-the-launch-of-fassets" rel="noopener noreferrer nofollow">Messari: Flare, The Launch of FAssets</a>

Flare Surges 12% As Protocol Unlocks Native Xrp Liquidity

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