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Home›Crypto›DeFi›Firelight launches DeFi cover positions backed by stak…

Firelight launches DeFi cover positions backed by staked XRP

The first cover payouts are backed by 50.2 million XRP staked on Flare, with claims decided by a five-firm consortium using a three-of-five vote.

Reported · Written up by our desk · DeFi

Firelight has started writing DeFi cover positions, with its first contracts placed with two Sentora vaults, and payouts backed by 50.2 million XRP staked on Flare, according to The Defiant.

The protocol said claims are decided by a five-firm consortium that votes using a three-of-five threshold, and it listed audits for the coverage contracts as coming soon.

Latest closeXRP $1.502 ▼0.4%

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Sources

The DefiantFirelight Begins Writing DeFi Cover Backed By Staked XRP

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