Flare Records 8M FXRP Stake as Dev Backs XRP Finance

TLDR

• Flare recorded a single 8 million FXRP stake on its Firelight staking protocol.
• Hugo Philion confirmed that an institution deployed the 8 million FXRP in one transaction.
• Kristaps Grinbergs said Flare has built the foundation for XRP-focused decentralized finance.
• Firelight logged 9.014 million FXRP in hourly inflows on April 21.
• Total Firelight inflows reached 75.52 million FXRP with a net inflow of 58.38 million FXRP.

Flare recorded an 8 million FXRP single stake on its Firelight protocol, according to company executives. The transaction came from an institution, co-founder Hugo Philion confirmed. Developer relations engineer Kristaps Grinbergs said the move shows Flare has built the foundation for XRP-focused decentralized finance.

Flare Network Sees 8M FXRP Institutional Stake

Hugo Philion disclosed the transaction in a post on X and asked whether an institution was testing Firelight. He later confirmed that an unnamed institution deployed 8 million FXRP in one transaction. He stated that the transfer reflected a real commitment rather than a trial.

Kristaps Grinbergs responded publicly and highlighted the network’s progress in XRP finance. He said, “Flare has already created a solid foundation for XRP finance with FXRP and Firelight.” He added that the team continues to expand the ecosystem.

On-chain records show Firelight logged 9.014 million FXRP in inflows on April 21 at 13:00. The 8 million FXRP stake accounted for most of that hourly total. The inflow marked the largest hourly movement in over a month and ranked second this year.

Data shows the highest hourly inflow occurred on March 18, 2026, at 14:00, reaching 15.442 million XRP. After the latest transaction, total inflows reached 75.52 million FXRP. Outflows stand at 17.14 million FXRP, leaving a net inflow of 58.38 million FXRP.

Across the network, Flare reports a total value locked of 155.7 million XRP. That figure equals about $219.63 million at current prices. Firelight holds $71.59 million, which represents over 32% of the network’s TVL.

FXRP and Firelight Drive XRP Utility on Flare

FXRP operates as a non-custodial and overcollateralized version of XRP on Flare. The token maintains a 1:1 value with XRP. It enables XRP holders to access smart contract functions within the ecosystem.

FXRP serves as the first live asset under Flare’s FAssets system. The system allows assets such as XRP to enter decentralized finance. Users can lend, borrow, stake, and provide liquidity through integrated platforms.

Firelight functions as an institutional staking and protection protocol developed with Sentora. The platform allows users to stake FXRP and receive stXRP. Holders can use stXRP in DeFi applications while earning staking rewards.

Flare launched FXRP on its mainnet in September 2025 with a 5 million minting cap. Users reached that limit within four hours, minting $15 million worth of FXRP. The team later increased the cap after demand exceeded expectations.

Firelight went live in December 2025 with Phase 1 focused on liquid staking. Users bridged XRP, minted FXRP, and deposited tokens into the Launch Vault for stXRP. The initial deposit cap of about 25 million FXRP filled quickly.

By February 2026, users had converted 100 million XRP into FXRP. Around 70% of that supply entered DeFi applications across the network. Current data shows TVL at 155.7 million XRP, with Firelight holding a 32% share.

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