Cardano's founder Charles Hoskinson recently presented a plan that could revolutionize XRP's position in the decentralized finance (DeFi) space.
Hoskinson's Plan for XRP in DeFi
Hoskinson proposed the creation of a cross-chain bridge that would allow XRP tokens to move onto Midnight, Cardano's privacy-focused sidechain. Once bridged, XRP holders could utilize their tokens within the Cardano DeFi ecosystem for yield farming, staking, lending, and liquidity pools, thus providing new earning opportunities currently lacking in the XRP Ledger.
Enhanced Ecosystem Support for XRP Users
Beyond DeFi integration, Cardano is deepening its support for XRP users. Hoskinson confirmed that XRP wallet holders would be included in Midnight's Glacier Drop airdrop campaign, distributing NIGHT and DUST tokens to eligible wallets. Additionally, XRP will soon be supported on the Cardano Lace wallet, enabling users to exchange their XRP supply alongside Cardano-native assets, thereby enhancing convenience and strengthening community ties.
Future Opportunities for XRP
Discussions regarding the potential integration of the upcoming stablecoin, Ripple's RLUSD, into the Cardano blockchain are also on the table. Although still under discussion, such a move could significantly enhance the practical utility of both networks and extend their collaborative framework. Hoskinson described these moves as a cohesive package that could broaden XRP's utility as a decentralized finance powerhouse.
With the proposal for XRP's integration into the DeFi ecosystem via Midnight, Hoskinson is making a significant step toward establishing XRP as a major player in decentralized finance.
