• 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

BlackRock: Driving Returns Through Low-Carbon Transition

chest

BlackRock is leveraging the low-carbon transition as a primary driver of portfolio returns.

user avatarGustavo Mendoza

Nuveen TIAA: Setting the Standard for Verified Impact Investing

chest

Nuveen TIAA has emerged as a leader in responsible investing, managing approximately $90 billion in specialized assets and developing a Climate Solutions Investing Framework under CEO Amy O'Brien.

user avatarMiguel Rodriguez

Brookfield Asset Management: A Leader in Decarbonization Efforts

chest

Brookfield Asset Management is recognized as a leader in decarbonization, managing around $900 billion in assets and focusing on renewable energy and private equity.

user avatarRajesh Kumar

Polygon POL Price Experiences Pullback Amid Workforce Reduction

chest

Polygon POL price is experiencing a pullback as the crypto market slows, following reports of workforce reductions at Polygon Labs.

user avatarLuis Flores

China Injects 185 Trillion into Markets, Sparking Global Optimism

chest

China's central bank injects 185 trillion yuan into the financial system to stimulate economic recovery.

user avatarArif Mukhtar

The Impact of Musk's Departure on OpenAI's Funding Strategy

chest

Musk's resignation from OpenAI marked a pivotal shift in the organization's funding approach, leading to a focus on traditional venture capital.

user avatarSon Min-ho

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.