Enosys has launched Enosys Loans, a Collateralized Debt
Position protocol on the Flare blockchain. The system allows XRP holders to
mint a trustless, overcollateralized stablecoin without selling their assets.
At launch, FXRP and wFLR are accepted as collateral, with plans to add stXRP in
the near future.
The protocol uses the CDP model, where users lock assets as
collateral to generate stablecoins valued near $1. A stability pool manages
liquidation events and covers outstanding debt, while participants earn rewards
from minting fees, interest, and liquidation proceeds.
Collateral Pricing via FTSO
Collateral pricing is provided by the Flare Time Series
Oracle (FTSO), which aggregates data from independent sources to avoid reliance
on centralized feeds.
Digital
assets meet tradfi in London at the fmls25
Enosys Loans is described as a fork of Liquity V2, a
protocol that has operated since 2021 and introduced features such as
user-defined borrowing rates and improved capital efficiency.
Borrowing on Flare
On Flare, users can mint stablecoins by locking FXRP, a
representation of XRP. Borrowers may choose their borrowing rate, though lower
rates carry a higher risk of redemption if the stablecoin’s value slips below
its peg. Support for stXRP, issued by Firelight, will enable users to
combine staking returns with stablecoin minting.
You may find it interesting at FinanceMagnates.com: Bitcoin
Maintains Pole Position among Retail Traders in Q2 despite Market Fluctuations.
The launch marks the first XRP-backed stablecoin on Flare
and expands the use of stXRP within decentralized finance. Incentives in the
form of rFLR will be distributed to users in stability and liquidity pools to
encourage adoption.
GENIUS Act Establishes U.S. Stablecoin Regulatory
Framework
President Donald
Trump recently signed the GENIUS Act into law, establishing the first U.S.
framework for regulating stablecoins. The legislation defines and oversees
stablecoin issuers, shifting implementation to federal financial regulators.
While enforcement details are pending, the law sets a
foundation for broader crypto regulation. The signing was attended by senior
Republicans and crypto executives, including leaders from Kraken, Gemini,
Coinbase, Circle, and Tether. Analysts expect the rules to guide stablecoin
oversight and influence future U.S. crypto policy development.
Enosys has launched Enosys Loans, a Collateralized Debt
Position protocol on the Flare blockchain. The system allows XRP holders to
mint a trustless, overcollateralized stablecoin without selling their assets.
At launch, FXRP and wFLR are accepted as collateral, with plans to add stXRP in
the near future.
The protocol uses the CDP model, where users lock assets as
collateral to generate stablecoins valued near $1. A stability pool manages
liquidation events and covers outstanding debt, while participants earn rewards
from minting fees, interest, and liquidation proceeds.
Collateral Pricing via FTSO
Collateral pricing is provided by the Flare Time Series
Oracle (FTSO), which aggregates data from independent sources to avoid reliance
on centralized feeds.
Digital
assets meet tradfi in London at the fmls25
Enosys Loans is described as a fork of Liquity V2, a
protocol that has operated since 2021 and introduced features such as
user-defined borrowing rates and improved capital efficiency.
Borrowing on Flare
On Flare, users can mint stablecoins by locking FXRP, a
representation of XRP. Borrowers may choose their borrowing rate, though lower
rates carry a higher risk of redemption if the stablecoin’s value slips below
its peg. Support for stXRP, issued by Firelight, will enable users to
combine staking returns with stablecoin minting.
You may find it interesting at FinanceMagnates.com: Bitcoin
Maintains Pole Position among Retail Traders in Q2 despite Market Fluctuations.
The launch marks the first XRP-backed stablecoin on Flare
and expands the use of stXRP within decentralized finance. Incentives in the
form of rFLR will be distributed to users in stability and liquidity pools to
encourage adoption.
GENIUS Act Establishes U.S. Stablecoin Regulatory
Framework
President Donald
Trump recently signed the GENIUS Act into law, establishing the first U.S.
framework for regulating stablecoins. The legislation defines and oversees
stablecoin issuers, shifting implementation to federal financial regulators.
While enforcement details are pending, the law sets a
foundation for broader crypto regulation. The signing was attended by senior
Republicans and crypto executives, including leaders from Kraken, Gemini,
Coinbase, Circle, and Tether. Analysts expect the rules to guide stablecoin
oversight and influence future U.S. crypto policy development.