• 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

BNY Partners with Finstreet and ADI Foundation for Digital Asset Custody in Abu Dhabi

chest

BNY partners with Finstreet and ADI Foundation to establish regulated digital asset custody infrastructure in Abu Dhabi.

user avatarAndrew Smith

Chainlink's Major Holders Increase LINK Accumulation

chest

Chainlink's largest active holders have significantly increased their LINK holdings over the past month, indicating a potential tightening supply.

user avatarJacob Williams

Bitcoin Market Dynamics Shift as Institutional Investors Gain Influence

chest

A new analysis by top analyst Darkfost highlights the evolving dynamics of Bitcoin trading, emphasizing the impact of institutional investors on market behavior.

user avatarZainab Kamara

Fairshake PAC Holds $193 Million as It Influences Political Campaigns

chest

Fairshake PAC, a powerful political action committee in the crypto industry, holds $193 million to influence political campaigns, notably supporting Indiana Republican James Baird in his primary election.

user avatarSon Min-ho

BNB Consolidates as Market Tests Trend Continuation

chest

BNB is currently trading around 650, stabilizing after a sharp rejection from the 1,000-1,100 region, indicating a potential shift in market structure.

user avatarAyman Ben Youssef

Eric Trump anticipates that Bitcoin might hit $1 million.

chest

At Consensus Miami 2026, Eric Trump predicted that Bitcoin could reach $1 million, emphasizing the US's leadership in the cryptocurrency market and the growing acceptance of digital assets.

user avatarTando Nkube

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.