• 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

a year 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

Theft of Cryptocurrency from US Marshals Service Raises Security Concerns

chest

Theft of cryptocurrency from US Marshals Service raises security concerns.

user avatarGustavo Mendoza

Colombian President Proposes Bitcoin Mining Hub on Caribbean Coast

chest

Colombian President Gustavo Petro proposes to create a Bitcoin mining hub on the Caribbean coast, inspired by Paraguay's success, aiming to utilize renewable energy and include Indigenous communities.

user avatarRajesh Kumar

Bitcoin Price Surge Triggers Major Liquidations in Derivatives Market

chest

The recent price uplift of Bitcoin has resulted in significant liquidations within the derivatives market, with over 200 million in liquidations primarily affecting short positions.

user avatarMiguel Rodriguez

Altcoin Market Cap Stabilizes After Correction

chest

The total crypto market cap for altcoins is attempting to stabilize after a prolonged corrective phase, indicating potential accumulation.

user avatarLuis Flores

Potential Shift in Altcoin Market Dynamics

chest

Recent analysis indicates a significant increase in altcoin trading volume, suggesting a potential end to Bitcoin's dominance.

user avatarArif Mukhtar

Ethereum Price Analysis: Stability and Potential Decline

chest

Ethereum price shows signs of stability above 2,320 but faces potential decline if it falls below 2,300.

user avatarMaria Gutierrez

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.