Ripple (XRPUSD)

[WiseYoda]

Currently, Im staking my SGB for SFIN, collecting FTSO rewards on my SGB, staking my EXFI for SFIN, and the SFIN Im earning Im staking that for more SFIN as well. This DeFi ecosystem is wild. This Songbird test net seems to be moving along well and when the Flare Network launches it’s going give a lot of utility to the XRPL. Learning one of the ways that XRP will be utilized in the Flare Network is as an F-asset (FXRP), which can earn one more FXRP as a reward, kinda like how SGB can earn one more SGB. Thereafter one can convert the FXRP they earn into XRP as FXRP has a 1 to 1 ratio so if one earns 1000 FXRP that can be converted to 1000 XRP. Theres more that can be done through the Flare Network with XRP as there are 6 products total to work within the network. One that Im liking and want to learn more about is FlareLoans. It will let you loan people XRP as an F-asset thru a smart contact where collateral has to be put up thats worth more then the loan. If the loan is not paid back you get to keep the collateral but if its paid back you earn interest on the loan. Looking forward to learning more about how to use these products and earn passive income.