• 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

Project Maven Transforms US Military Operations with AI

chest

Project Maven has evolved into a critical AI system that accelerates targeting and strike decisions in US military operations, significantly impacting the tempo of strikes.

user avatarKenji Takahashi

Whale Activity Declines Amid Bitcoin's Price Struggles

chest

Whale activity declines as major Bitcoin holders reduce their engagement, impacting market momentum.

user avatarGustavo Mendoza

Operation Epic Fury: US Strikes Over 1,000 Targets in 24 Hours

chest

In the first 24 hours of Operation Epic Fury, US forces reportedly hit over 1,000 targets, including a controversial strike on a school.

user avatarMaria Fernandez

Back from the dead: A New Post Emerges

chest

A significant event has occurred as Technext has published a new post that has drawn attention, increasing engagement and interest among readers.

user avatarRajesh Kumar

Geopolitical Uncertainty Affects Asian Economies

chest

The geopolitical uncertainty surrounding the Iran conflict has broader implications for regional economic performance, affecting tourism-dependent and export-oriented economies in Asia.

user avatarLuis Flores

Expert Analysis on GBPJPY Ascending Triangle

chest

Senior analysts provide insights on the Ascending Triangle pattern in GBPJPY, indicating institutional accumulation and potential market moves.

user avatarMiguel Rodriguez

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.