• 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

Tapzi Emerges as a Top Altcoin for December Investment

chest

Tapzi is gaining attention as a promising altcoin with significant upside potential, especially during the current market phase.

user avatarMaya Lundqvist

Company Launches Innovative Energy Technology

chest

A company has introduced a new technology aimed at providing efficient energy solutions while addressing environmental concerns.

user avatarLeo van der Veen

Chartist Shows XRP Is Poised for Major Price Rally: Here's the Target

chest

XRP is at a decisive point for a bullish phase, targeting 585 as a key level.

user avatarLi Weicheng

Uber to Invest $2 Billion in Japan's Market Growth

chest

Uber Technologies Inc plans to invest over $2 billion in Japan over the next five years to enhance partnerships and market presence.

user avatarAisha Farooq

Bosun Tijani Clarifies Comments on Security Challenges

chest

Nigerian Minister Bosun Tijani clarifies his comments regarding the challenges faced by security agencies in tracking criminals using mobile phones.

user avatarTenzin Dorje

Analyst Predicts Bitcoin to Bottom at 50,000 Amid Ongoing Bear Market

chest

Market analyst PelinayPA predicts that Bitcoin will bottom around 50,000 in the ongoing bear market, suggesting a potential decline of 444% from current prices.

user avatarMohamed Farouk

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.