Flare

Flare rolled out a major DeFi upgrade that lets XRP holders lend FXRP for yield or post it as collateral to borrow other assets, unlocking new on-chain utility and income options.

Flare executive Hugo Philion urged XRP holders on Nov. 13 to avoid platforms offering opaque yields, citing risks from hidden counterparty exposure and poor transparency. He recommended verifying audits, proof-of-reserves and on-chain evidence before staking or lending assets.

Flare executive Hugo Philion warned XRP holders to steer clear of platforms that promise returns without clear transparency, saying such services can imperil users' funds. He urged investors to prioritize audited contracts and visible custody arrangements.