Luminite, a non-parenting authority, seed-free wallet designed to make decentralized financing (DEFI) available to XRP (XRP) holders launched on Flare Network as part of a wider push to provide smart contract functionality to assets that historically lacked it.
“By removing complex entry barriers, we enable someone – from first -time users to experienced crypto holders – to access the full force of Flare EcoSystem,” the Luminite team said in a statement.
“This is about making defi available, not only for crypto-fashioned, but for the next wave of users who discover blockchain through real tools,” the team said.
Built with turnkey built-in infrastructure luminite luminite seed phrases for the benefit of packingys, biometrics or email registrations.
Users can acquire FLR and XRP via integrated FIAT ramps as tops, then engage directly with defi-protocols at Flare, including services such as stakeing, swaps, minting synthetic fxrp and bridging assets via Stargate.
For the XRP owners, this means that within the next few months it will be possible to wrap the token in FXRP via the Fassets protocol and implemented across stacking and liquidity products. Once the function is released, token holders give a reason to stay within the flare ecosystem instead of building the bridge elsewhere.
Whether this is sticky depends on what comes next: sustained tvl growth, liquidity incitaments, and whether developers begin to build tools that integrate XRP into ways that Ethereum and Solana users already expect.
Read more: XRP gets another defi -boost through Flares Fassets and FXRP, says Messari
Correct (August 5, 15:33 UTC): The company corrects the availability of XRP wrapping to “in the coming months.” An earlier version of the story said it was already available.
