XRP
Nearly 90% of circulating FXRP is deployed in DeFi protocols, DefiLlama reports
Data from DefiLlama indicates that approximately 129 million FXRP tokens are active across decentralised lending and cross-chain applications.
Roughly 90 percent of the circulating supply of FXRP, Flare's wrapped token representing XRP, is currently active within decentralised finance protocols, according to a research report from DefiLlama. The analysis found that about 129 million of the 145 million circulating tokens are deployed across various financial applications, primarily as collateral in lending markets.
Lending protocols form the primary venue for the asset, with deployments recorded on Morpho and Kinetic on Flare, Morpho on Ethereum, and Euler on Monad. DefiLlama highlighted Sentora's RLUSD vault on Morpho, where 10.6 million FXRP tokens supported $7.9 million of supplied RLUSD in late September. Cross-chain distribution has also expanded, with roughly 20 million tokens now located across seven networks outside Flare via LayerZero's Omnichain Fungible Token standard.
Beyond token metrics, the report examined Flare's infrastructure revenue, noting that fees generated by the Flare Data Connector have become its fastest-growing income source since the rollout of FIP.16, currently generating 45 percent of protocol revenue. Flare is also preparing for a future Bitcoin integration and a mainnet deployment of confidential computing.
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