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stXRP

What is stXRP?

stXRP is the token Firelight credits when FXRP is deposited into the Firelight Vault on Flare, representing a staked position that backs DeFi cover, earns a share of protocol emissions and is subject to slashing.

Understanding stXRP

stXRP is the token Firelight credits when FXRP is deposited into the Firelight Vault on Flare, representing that staked position. The vault’s capital backs the full portfolio of DeFi cover that Firelight offers, so staked FXRP provides the economic security behind that cover.

Stakers receive a share of protocol emissions in return. Program operators pay fees to enable cover on their vaults, and those fees fund emissions, which stream to stakers in FXRP and raise the redemption value of a staked position over time. Because stakers provide economic security, their deposits are subject to slashing.

Firelight Cover is not insurance, and a staked position has no cover of its own. Unstaking takes time, because deposits back 30-day cover periods. stXRP is issued by Firelight, a protocol built on Flare, not by the FAssets protocol or by XRPFi.

Why stXRP exists

stXRP exists because DeFi cover needs capital behind it, and Firelight sources that capital from stakers. Onchain capital increasingly sits in vaults, while protection for that capital has not grown at the same rate. In traditional insurance, one insurer takes on the risk under a contract. Firelight spreads that role across stakers, who deposit FXRP into a single vault that backs the full portfolio of elected cover, and stXRP records each staker’s position in it. XRP is the first capital in the vault: the FAssets protocol makes XRP programmable on Flare as FXRP without a third-party bridge, so the asset, the infrastructure and the cover layer sit on one network. The technical relationship between FXRP and the Flare DeFi protocols that build on it is documented at dev.flare.network.

How stXRP works

  1. You deposit FXRP into the Firelight Vault, either directly or by starting with XRP through Flare Smart Accounts, which mints the FXRP and deposits it in one flow.
  2. Firelight credits stXRP to your Flare account to represent your staked position.
  3. Your staked FXRP joins the single vault that backs the full portfolio of cover Firelight registers onchain.
  4. Protocol emissions, funded by the fees operators pay to enable cover, stream to stakers in FXRP and raise the redemption value of your position over time.
  5. Your deposit stays subject to slashing, because stakers take on risk so that depositors in covered vaults are protected.
  6. To exit, you start unstaking in the Firelight web app, wait for the unstaking period to pass, withdraw to FXRP and redeem it to XRP.

How stXRP relates to XRPFi and Flare

The XRP Ledger holds native XRP but has no way to put it behind onchain cover. Flare is the network where FXRP, XRP’s FAssets representation, can be staked into Firelight, a DeFi cover protocol that runs on Flare. stXRP is the token that represents that staked position.

stXRP sits inside XRPFi alongside FXRP as one of the assets in the Flare DeFi ecosystem. XRPFi is where a holder finds Firelight and the other protocols built on Flare, rather than stXRP being issued by XRPFi itself. Holders who start with only XRP can deposit through Flare Smart Accounts, where the Firelight Vault is one of the available vaults.

What you can do with stXRP

  • Stake FXRP in the Firelight Vault to receive stXRP.
  • Mint or acquire FXRP before staking it.
  • Start from XRP alone and deposit into the Firelight Vault through Flare Smart Accounts.
  • Read Firelight’s docs for cover terms, covered events and the current unstaking period.
  • See the full range of strategies available across XRPFi.

stXRP at a glance

Key facts about stXRP.
Full namestXRP
TypeToken representing a staked FXRP position
NetworkFlare
What it representsFXRP staked in the Firelight Vault
Issued byFirelight
What it backsFirelight’s portfolio of DeFi cover
What stakers earnA share of protocol emissions, streamed in FXRP
Main riskSlashing. Firelight Cover is not insurance
Redeemable toFXRP, after the unstaking period
Where to get itStake FXRP
Technical documentationdocs.firelight.finance

Frequently asked questions

stXRP is the token Firelight credits when FXRP is deposited into the Firelight Vault on Flare. It represents a staked position that backs DeFi cover and earns a share of protocol emissions. Staked deposits are subject to slashing, and Firelight Cover is not insurance.

Firelight issues stXRP. Firelight is a DeFi cover protocol built on Flare, and it credits stXRP when FXRP is deposited into the Firelight Vault. The FAssets protocol issues FXRP, not stXRP, and XRPFi does not issue tokens. XRPFi is where holders find Firelight alongside other Flare protocols.

Staked FXRP joins a single vault that backs the full portfolio of cover Firelight registers onchain, rather than one vault or one protocol. stXRP records your share of that vault. Operators pay fees to enable cover, and those fees fund the emissions streamed to stakers.

Stakers provide the economic security behind Firelight Cover, so their deposits can be slashed to protect depositors in covered vaults. A staked position has no cover of its own, and rewards carry the same slashing risk as the deposit. Read Firelight’s docs for covered events before you deposit.

No. FXRP represents XRP 1:1 on Flare. stXRP represents FXRP staked in the Firelight Vault, with emissions accruing to the position, and it is only credited after FXRP is deposited. Staked FXRP backs DeFi cover, so it carries slashing risk that plain FXRP does not.

No. Firelight Cover is not insurance. Stakers take on risk so that depositors in covered vaults are protected, their deposits are subject to slashing, and a staked position has no cover of its own. Read Firelight’s docs before you deposit.
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