$43,000,000 in XRP Bridged to Flare Network: CEO Confirms

Flare co-founder Hugo Philion has updated the community on the surging demand for FXRP, revealing that $43 million worth of XRP has been bridged onto the network.

Notably, the bridged XRP was used to mint FXRP, a wrapped version of XRP on the Flare blockchain. Through this process, users can participate in DeFi activities, such as lending, without having to sell their tokens

Interestingly, XRP community members have shown overwhelming enthusiasm, as each new 5 million FXRP allocation has been fully minted within just a few hours of release

The minting process requires users to transfer their XRP tokens from the XRP Ledger to a self-custody wallet. From there, they can mint FXRP using tools such as Oracle Daemon or Agent Utility (AU).

New Mint Cap to Roll Out Today

In the meantime, several users who missed out on previous minting rounds have raised concerns that the timing of the events tends to favor certain regions

However, those who miss the minting window but still wish to obtain FXRP can purchase it on decentralized exchanges within the Flare ecosystem, including Enosys and SparkDEX

While retail users have driven the adoption of FXRP, Philion believes that institutional clients will drive the next wave of demand once the supply exceeds $100 million