Firelight to offer yield to XRP holders, but withdrawals may take up to 60 days
- —Firelight's TVL reached $71.74 million as of September 13
- —FXRP withdrawals take 1–2 days now and up to 60 days with 30-day periods
- —Rewards stop immediately once withdrawal begins
- —Yield comes from coverage premiums paid by DeFi protocols
Why it matters: A new income source for XRP holders, but with the risk of losing part of the collateral and prolonged lock-up of funds.
Source: CryptoSlate