• 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

10 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

Conflicting Data on Smartphone Shipments Raises Investor Concerns

chest

Conflicting reports on smartphone shipments in China show a 128% increase attributed to Apple, while other sources report a 47% decline, raising investor concerns.

user avatarJesper Sørensen

Winslow Strong Executes Massive Crypto Transfer to Coinbase

chest

Winslow Strong has executed a massive transfer of $326 million in digital assets to Coinbase, raising questions about market sentiment and liquidity strategies.

user avatarRajesh Kumar

Grayscale Partners with CoinDesk to Enhance Brand Visibility

chest

Grayscale has partnered with CoinDesk to sponsor its app, aiming to enhance user engagement and brand visibility across digital platforms.

user avatarLucas Weissmann

Market Cap Disparities Highlight Gaps in Crypto Valuations

chest

In 2025, significant discrepancies between market capitalizations and initial valuations of VC-backed crypto projects have emerged, prompting a reassessment among investors.

user avatarEmily Carter

Repercussions Across the Crypto Industry Due to Valuation Gaps

chest

The crypto industry is experiencing significant repercussions as investors grapple with valuation gaps, leading to a market reset.

user avatarFilippo Romano

Experts Warn of AI Bias and the Need for Decentralization

chest

Experts raise concerns about algorithmic bias in AI chatbots and emphasize the need for decentralized systems to ensure accuracy and impartiality.

user avatarTomas Novak

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.