Firelight Launches DeFi Cover Backed by Staked XRP
- —First cover positions written for two Sentora vaults
- —Coverage backed by 50.2 million XRP staked on Flare
- —Claims decided by a five-firm consortium via 3-of-5 vote
- —Audits of the coverage contracts are still pending
Why it matters: DeFi insurance built on staked XRP broadens the token's utility beyond payments and could draw institutional capital into on-chain coverage.
Source: The Defiant