- Enosys Loans offers XRP holders new ways to mint stablecoins.
- XRP DeFi expands with Enosys, enhancing liquidity and borrowing opportunities.
- REX-Osprey launches first U.S.-listed ETFs for direct XRP and Dogecoin exposure.
Enosys has unveiled Enosys Loans, a new collateralized debt position (CDP) protocol that allows XRP holders to mint stablecoins without selling their assets. This release, which becomes active on the Flare network, is a significant move by XRP in decentralized finance (DeFi). FXRP is now a wrapping of XRP, which users can use as loan collateral. The protocol intends to continue adding staked XRP (stXRP) to its services in the future, which will further improve its services.
Enosys will be able to access all participants in the DeFi industry by facilitating the use of XRP as a security to borrow stablecoins without selling their assets, pushing the use of XRP to the next level beyond only payments. As the oracles of Flare become decentralized, the platform will ensure that the value of collateral is adequately maintained, and the stablecoin will be pegged at $1.
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Unlocking New DeFi Opportunities for XRP Holders
Enosys Loans is built on Liquity V2, a proven CDP protocol that has maintained billions in collateral and kept a stable $1 peg. The platform offers various enhancements, such as user-configured annual percentage rates (APRs) and liquidity, which is incentivized by protocols. Borrowers will have the option of selecting their APRs, though at reduced rates, there will be a greater risk of redemption being used prematurely should the value of a stablecoin plummet.
There is also the stability pool, which is available in the platform and the outstanding debt is accessed in the event of liquidations. Through these innovations, it is possible to be more efficient with the capital and enjoy an easier process of borrowing among XRP holders.
As it intends to support stXRP, the users will have the option to stake their XRP and continue to use it as collateral. This introduces new liquidity, borrowing, and staking reward opportunities, and XRP is a two-fold asset in DeFi.
As a major milestone in XRP’s history, Enosys Loans solidifies its market presence in DeFi and opens a new service for decentralized liquidity and yield production on the Flare network.
XRP and Dogecoin Now Accessible via ETFs
In a notable move for digital asset investors, REX-Osprey™, a collaboration between REX Shares and Osprey Funds, has launched the first-ever U.S.-listed ETFs offering direct spot exposure to Dogecoin (DOGE) and XRP. These ETFs, trading under the tickers DOJE and XRPR on the Cboe exchange, provide regulated investment vehicles for two of the most prominent cryptocurrencies, offering a new way for traditional investors to access digital assets.
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