• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

XRPL Community Dismisses 'Custodial DeFi', Calls for New Solutions

user avatar

by Giorgi Kostiuk

9 months ago

Experts highlighted the dangers of 'custodial DeFi' for XRP and called for new approaches in financial technology.

XRPL Innovators Sound the Alarm

Among the voices raising concerns is @Vet_X0, founder of an XRPL-based NFT marketplace and operator of a dUNL validating node. He stressed that XRP holders should avoid 'custodial DeFi'.

We can't put our XRP in custodial XRPL DeFi hyped by influencers. Instead... Our purpose is to reinvent the foundation on which global finance is built.Vet

Concerns from Flare Founder

Hugo Philion, CEO of Flare, agreed with @Vet_X0, emphasizing that projects in the XRP ecosystem might be too centralized. He noted that some of these projects are essentially 'Celsius 2.0'.

Some of the projects I’m seeing launch around XRP are taking immense shortcuts. If the protocol you are using isn’t built with decentralization, it’s essentially Celsius 2.0

Future for XRPL DeFi

The XRPL ecosystem is actively developing with smart contracts and oracles, facilitating DeFi growth on the platform. This opens new opportunities for innovations in financial technology.

The XRPL community and experts continue to discuss new approaches to decentralization, emphasizing the importance of sustainable technology development.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Growing Institutional Interest in Multi-Asset ETFs

chest

The launch of multi-asset ETFs by 21Shares is expected to attract significant institutional investment.

user avatarSon Min-ho

Scaramucci Family Makes Major Investment in American Bitcoin

chest

The Scaramucci family, led by AJ Scaramucci, has made a significant investment of over $100 million in American Bitcoin, a mining company associated with Donald Trump's sons.

user avatarZainab Kamara

Digitap TAP Achieves 137% Surge in Price

chest

Digitap TAP has emerged as a leading performer in the crypto market, experiencing a significant price increase of 137% from $0.00125 to $0.00297 during the second presale round.

user avatarAyman Ben Youssef

HYPE Price Regains Key Support Levels

chest

The HYPE price has recovered key support levels after a recent downturn.

user avatarTando Nkube

Belarus to Expand Cryptocurrency Mining Under Lukashenko's Directive

chest

Belarusian President Alexander Lukashenko has directed government agencies to expand cryptocurrency mining to reduce reliance on the US dollar and utilize surplus electricity.

user avatarKofi Adjeman

Americans Turn to Bitcoin Mining for Home Heating in Winter 2025

chest

In winter 2025, more Americans are increasingly turning to bitcoin mining hardware as a dual-purpose solution to heat their homes.

user avatarNguyen Van Long

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.