Retail XRP Holders Can Now Tap DeFi on Flare, No Seed Phrase Needed

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Flare Network has launched Luminite, a non-custodial, seedless pockets designed to make decentralized finance (DeFi) accessible to XRP (XRP) holders as a part of a broader push to provide sensible contract performance to property that traditionally lacked it.

“By removing complex barriers of entry, we’re enabling anyone – from first-time users to seasoned crypto holders – to access the full power of the Flare ecosystem,” the staff stated in a ready assertion.

“This is about making DeFi approachable, not just for the crypto-native, but for the next wave of users discovering blockchain through real utility,” the assertion added.

Built with Turnkey’s embedded infrastructure, Luminite skips seed phrases in favor of passkeys, biometrics, or electronic mail sign-ins.

Users can purchase FLR and XRP through built-in fiat on-ramps like Topper, then interact instantly with DeFi protocols on Flare, together with companies like staking, swaps, minting artificial FXRP, and bridging property through Stargate.

For XRP holders, it means the token can now be wrapped into FXRP through Flare’s FAssets protocol and deployed throughout staking and liquidity merchandise. This offers token holders a cause to stay throughout the Flare ecosystem as a substitute of bridging elsewhere.

Whether this turns into sticky will rely on what comes subsequent: sustained TVL development, liquidity incentives, and whether or not builders begin constructing instruments that combine XRP in ways in which Ethereum and Solana customers already anticipate.

Read extra: XRP Gets Another DeFi Boost Through Flare’s FAssets and FXRP, Messari Says

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