• 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

NEAR Protocol Thrives with Cross-Chain AI Capabilities

chest

NEAR Protocol is gaining traction with its cross-chain AI system and a large active user base.

user avatarLucas Weissmann

SAND Experiences Significant Volume Surge

chest

SAND's trading volume surged to approximately 222.7 million, reflecting strong market participation and demand-driven price appreciation.

user avatarFilippo Romano

SAND Confirms Support Flip After Downtrend

chest

SAND has shown signs of an improving market structure after a prolonged downtrend, with increased trading volume supporting price gains.

user avatarEmily Carter

Anonymous Trader Achieves 701 Million in Unrealized Gains from ETH and HYPE Shorts

chest

An anonymous trader increased short positions in ETH and HYPE, realizing significant unrealized profits of 701 million within just one hour.

user avatarKaterina Papadopoulou

Canaan Inc's Stock Performance Declines Amid Industry Shift

chest

Canaan Inc's shares have dropped 63% over the past year as many crypto mining companies have shifted their focus to providing computing power for artificial intelligence.

user avatarKaterina Papadopoulou

Canaan Inc Faces Nasdaq Delisting Warning

chest

Canaan Inc has received a warning from Nasdaq to increase its share price within 180 days or face delisting.

user avatarTomas Novak

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.