Firelight Set to Launch Mainnet on Flare, Expanding DeFi Access to XRP Holders

Firelight’s mainnet launch comes as Flare seeks to fill XRPL liquidity and yield amid increased growth in its ecosystem.

XRP staking platform Firelight has announced that it is set to launch its mainnet on Flare this month. Flare is an Ethereum Virtual Machine (EVM)-enabled Layer 1 blockchain that promotes interoperability by giving protocols decentralized access to data from other chains and the Internet.

According to a press release sent to CryptoPotatoFirelight’s mainnet launch on Flare will expand access to decentralized finance (DeFi) for XRP holders, connecting them to more opportunities.

Firelight will launch Mainnet this month

Firelight has not confirmed the exact launch date; however, it is expected to take place before the end of the month. The network allows XRP holders to maintain custody of their assets while using them in the DeFi ecosystem. Through its staking mechanism, users can convert their XRP into Liquid Staking Token (LST), stXRP, which is used to access opportunities in the Flare DeFi space.

“Having Firelight on Flare, able to cover protocols across the space and emit a token representation of that coverage, is a huge benefit to the Flare ecosystem itself,” said Hugo Philion, CEO and co-founder of Flare.

Post-launch, Firelight will allocate capital deployed on its platform toward creating an institutional-grade hedging solution for on-chain risks. This initiative will be supported by XRP staking. The move will help position the platform at the heart of a growing effort to connect XRP liquidity, DeFi infrastructure, and institutional readiness within the Flare ecosystem.

Flare records significant growth

In addition to the upcoming Firelight mainnet launch, Flare revealed that users will soon be able to initiate transactions on its network directly from the XRP Ledger (XRPL). This will be made possible through smart accounts created by Xaman Wallet and planned to launch by December.

The Smart Accounts feature will allow XRPL addresses to execute trades on Flare via encoded memo instructions. The aim is to strengthen the liquidity bridge between the Flare and XRPL ecosystems, allowing users to access DeFi protocols and manage their assets without leaving the XRPL network.

Meanwhile, the Flare network is experiencing accelerated growth. Total value locked on-chain has been trending upward this quarter, currently hovering around an all-time high of $180 million. The protocol also boasts of linking over 50 million XRP to XRPL.

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Additionally, institutional participation in Flare is increasing. Asset management firm Teucrium filed for a Flare exchange-traded fund (FLR) last month. The filing is still under review by the U.S. Securities and Exchange Commission.