Flare Network has introduced FXRP, a wrapped version of XRP, enabling its use in decentralized finance (DeFi) applications. This marks the first implementation of Flare's "FAssets" system, which converts non-smart contract tokens like XRP into overcollateralized assets for DeFi interaction. XRP holders can mint FXRP at a 1:1 ratio by depositing collateral through Flare's independent agent network. Initially, minting is capped at 5 million FXRP, with plans to gradually increase this limit. FXRP can be minted directly or acquired via decentralized exchanges such as SparkDEX, BlazeSwap, and Enosys. Supported wallets include Luminite and Oxen Flow, which facilitate FXRP minting, redemption, and cross-chain bridging. To boost liquidity, FXRP pools will receive rFLR incentives, with initial FXRP/USDT0 liquidity pools offering a target annualized yield of 50% and collateralized lending options.