• 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

5 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.

Other news

Judge Torres Concludes Role in XRP Case: Now Dependent on Ripple and SEC

chest

Judge Torres concludes her role in the XRP lawsuit, now relying on both parties to withdraw appeals. Market remains steady with no immediate changes.

user avatarGiorgi Kostiuk

Chainbase Launch and Airdrop Announcement by Binance Alpha: User Information

chest

Binance Alpha launches Chainbase with an airdrop for users. Increased market volatility is anticipated.

user avatarGiorgi Kostiuk

Ethereum Climbs Above $3000 Following Bitcoin's Record

chest

Ethereum has surpassed $3000, signaling a recovery in the crypto market alongside rising Bitcoin prices.

user avatarGiorgi Kostiuk

Crypto Payments: A Necessity in iGaming

chest

Crypto payments are becoming crucial in iGaming, providing security, speed, and accessibility that can lead to competitive advantages.

user avatarGiorgi Kostiuk

9 Weeks of Success: Ethereum ETFs Attract Investments

chest

Ethereum ETFs have shown consistent inflows for 9 weeks, reflecting growing institutional interest in Ethereum.

user avatarGiorgi Kostiuk

BlackRock Invests $137.1M in Ethereum: A New Chapter for ETH

chest

BlackRock has acquired $137.1 million worth of Ethereum, indicating growing confidence among institutional investors in ETH.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

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.