Soil has successfully launched its RLUSD Yield Protocol on the XRP Ledger, achieving a $1 million capacity within just 72 hours. This marks the first DeFi product on the XRP Ledger, allowing investors to stake XRP or deposit RLUSD/USD and choose rewards in either XRP or RLUSD. The protocol utilizes XRPL's Native Lending function to support real-world asset-backed yield, aligning with regulatory standards and preparing for broader institutional participation.
The launch has been met with significant interest, prompting immediate reopening of vaults for additional allocations. Soil's co-founders, Nicholas Motz, Jakub Bojan, and Michael Maciuk, highlighted the protocol's flexibility in reward options, which has driven early adoption. Upcoming XRPL amendments are expected to enhance institutional access and expand the protocol's offerings, further embedding real-world assets into XRPL-based financial applications.
Soil's RLUSD Yield Protocol on XRP Ledger Reaches $1M in 72 Hours
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