The post XRP finds new life in DeFi with mXRP staking frenzy appeared on BitcoinEthereumNews.com. XRP holders eager for yield opportunities have quickly embraced mXRP, the first liquid staking token native to the token’s ecosystem. On Sept. 25, blockchain infrastructure provider Axelar revealed that the product’s initial vault of 6.5 million tokens filled within two days of launch, forcing it to raise the cap to 10 million. Notably, the total value of assets locked in the vault amounts to nearly $20 million. Total Value of Assets Locked in mXRP Vault (Source: Axelar) This swift expansion highlights pent-up demand from investors seeking to put dormant XRP to work through decentralized finance. What is mXRP? mXRP is designed to unlock fresh utility for XRP, which has remained idle for years despite being one of crypto’s oldest assets. Built on the XRP Ledger’s Ethereum Virtual Machine (EVM) sidechain, the token allows users to stake XRP through Midas, a tokenization platform. In return, they receive a wrapped representation—mXRP—that can earn targeted annual yields of up to 8%. The process begins when XRP is bridged to the sidechain and deposited into tokenized vaults. Those deposits are then allocated into yield strategies overseen by independent managers, known as “risk curators.” At launch, Hyperithm took on that role, directing capital into market-making and liquidity provisioning activities. The performance of these strategies flows back into the value of mXRP itself, ensuring that holders see returns directly in the token they own. Midas co-founder and CEO Dennis Dinkelmeyer framed the initiative to mobilize long-dormant capital. According to him: “Much of the XRP supply has been dormant for years; mXRP provides a transparent mechanism for users to access onchain strategies.” Expanding XRP’s role in DeFi Meanwhile, the project reflects a broader movement to make XRP more versatile within decentralized markets. XRP’s DeFi ecosystem pales significantly compared to rivals like Ethereum, which have hundreds of billions… The post XRP finds new life in DeFi with mXRP staking frenzy appeared on BitcoinEthereumNews.com. XRP holders eager for yield opportunities have quickly embraced mXRP, the first liquid staking token native to the token’s ecosystem. On Sept. 25, blockchain infrastructure provider Axelar revealed that the product’s initial vault of 6.5 million tokens filled within two days of launch, forcing it to raise the cap to 10 million. Notably, the total value of assets locked in the vault amounts to nearly $20 million. Total Value of Assets Locked in mXRP Vault (Source: Axelar) This swift expansion highlights pent-up demand from investors seeking to put dormant XRP to work through decentralized finance. What is mXRP? mXRP is designed to unlock fresh utility for XRP, which has remained idle for years despite being one of crypto’s oldest assets. Built on the XRP Ledger’s Ethereum Virtual Machine (EVM) sidechain, the token allows users to stake XRP through Midas, a tokenization platform. In return, they receive a wrapped representation—mXRP—that can earn targeted annual yields of up to 8%. The process begins when XRP is bridged to the sidechain and deposited into tokenized vaults. Those deposits are then allocated into yield strategies overseen by independent managers, known as “risk curators.” At launch, Hyperithm took on that role, directing capital into market-making and liquidity provisioning activities. The performance of these strategies flows back into the value of mXRP itself, ensuring that holders see returns directly in the token they own. Midas co-founder and CEO Dennis Dinkelmeyer framed the initiative to mobilize long-dormant capital. According to him: “Much of the XRP supply has been dormant for years; mXRP provides a transparent mechanism for users to access onchain strategies.” Expanding XRP’s role in DeFi Meanwhile, the project reflects a broader movement to make XRP more versatile within decentralized markets. XRP’s DeFi ecosystem pales significantly compared to rivals like Ethereum, which have hundreds of billions…