Enosys has announced the upcoming launch of Enosys Loans, a friendly fork of Liquity V2 deployed on the Flare Network. This marks a historic milestone, XRP (via FXRP) can now be used as collateral to mint a stablecoin.
A second audit is already underway, highlighting the team’s commitment to safety and reliability before the platform goes live.
Why Enosys Loans Unlocks DeFi for XRP and Bitcoin
Until now, XRP’s lack of native smart contract functionality has kept it outside the broader DeFi world. With Enosys Loans, XRP holders can lock their assets in a Collateralized Debt Position (CDP) and mint a stablecoin while keeping exposure to XRP.
At launch, the protocol will support FXRP and wrapped FLR (wFLR) as collateral. The roadmap is even more ambitious, with plans to add staked XRP (stXRP) and FBTC (Bitcoin bridged to Flare).
“This isn’t just about XRP—it’s about Bitcoin and other major assets finding a new role in DeFi.”
Built on Liquity V2, Optimized for Flare Network
Enosys Loans leverages the proven Liquity V2 framework, trusted for its low fees and user-controlled rates on Ethereum. By deploying on Flare, it combines Liquity’s reliability with Flare’s scalable, secure, and interoperable infrastructure.
This fusion enables a DeFi platform designed specifically for non-smart contract assets like XRP and Bitcoin.
Flare Oracle Power: Accurate and Decentralized Collateral Pricing
A standout feature is Enosys Loans’ use of the Flare Time Series Oracle (FTSO) to ensure accurate collateral pricing.
Unlike centralized oracles, FTSO aggregates price data from many independent providers, making it tamper-resistant and highly precise. This guarantees stable collateral-to-debt ratios and protects users from volatility.
“With FTSO V2 scaling to thousands of data feeds, collateral pricing will remain secure and future-ready.”
Rewards, Delegation, and Future Expansion in DeFi
Users providing wFLR as collateral will still enjoy staking benefits. Their tokens will be automatically delegated, earning both delegation rewards and FlareDrops.
The long-term vision is clear: a multi-asset CDP platform bridging XRP, Bitcoin, and other high-value tokens into decentralized finance. This could reshape how trillions in non-smart contract assets interact with DeFi through lending, borrowing, and yield opportunities.
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FAQs
Enosys Loans is a DeFi platform on the Flare Network that allows users to use non-smart contract assets like XRP and Bitcoin as collateral to mint a stablecoin.
It uses wrapped XRP (FXRP), a representation of XRP on the Flare Network, to enable XRP holders to mint a stablecoin while retaining exposure to their assets.
The FTSO is a decentralized oracle that provides Enosys Loans with accurate, tamper-resistant price data for collateral, ensuring stable and secure borrowing.
Users can get liquidity without selling their XRP or Bitcoin. They can also earn rewards like FlareDrops and staking benefits when providing wFLR as collateral.
