#None #XRP #BNB Chain #mXRP

mXRP Launch: Pioneering Liquid-Staking for XRP on BNB Chain

In a significant development within the cryptocurrency sector, mXRP has made its debut, introducing the first liquid-staking token designed specifically for XRP. This groundbreaking launch expands into the burgeoning BNB Chain ecosystem, marking a collaborative effort between three key players: Axelar, Midas, and Lista DAO.

This innovative integration provides an exciting avenue for XRP investors, enabling them to engage with their assets in a more lucrative way. Currently, there are approximately 480,000 XRP investors on the BNB Chain, collectively holding an impressive $800 million in wrapped XRP. With mXRP, these investors can now explore a fresh strategy for earning yield on their holdings through a product that promises both transparency and advanced governance powered by smart contracts.

Unlocking the True Value of XRP

The mXRP token represents a liquid-staked version of XRP, enabling holders to leverage their investments within the decentralized finance (DeFi) space. When XRP holders stake their assets through Midas, they receive mXRP, which is a freely transferable ERC-20 token, inherently tied to the value of XRP held in a secure custody environment. The underlying mechanics involve Axelar's interoperability technology, facilitating seamless connections to various DeFi protocols.

Returns for mXRP holders are generated based on rigorously defined strategies executed by reputable third-party partners like Hyperithm. These strategies involve market-neutral trading and lending across both centralized exchanges and decentralized finance protocols, aiming to optimize yields. Crucially, when users decide to redeem their mXRP, they will receive XRP relative to the value of assets in the associated vault, which also accounts for any accrued returns. The variability in redemption amounts is influenced by the performance of these underlying strategies and asset collateral availability.

The mXRP framework utilizes a transparent model that aligns with both accountability and security needs. Each step of the process—from deposit visibility to traceability—is ensured by smart contracts, developed in collaboration with leading custodial technologies from Fireblocks and Fordefi. All redemptions are initiated non-custodially by users and carried out through third-party audited smart contracts, reinforcing confidence in the stability of the ecosystem through its EU-approved prospectus.

Focus on Yield and Security

Georgios Vlachos, co-founder of Axelar Network, emphasized the role of yield as a significant motivator in the blockchain space, noting that mXRP enables XRP holders to invest with confidence in the future of the asset. “XRP has a strong trajectory ahead within an ecosystem led by Ripple,” he stated. This partnership signals a pathway for Axelar, Lista DAO, and Midas to provide users with an efficient means to earn meaningful yield based on their long-term investments in XRP.

In parallel, Lista DAO emerges as a pioneering layer in the BNB Chain, operating on principles of liquid-staking, stablecoin functionality, and collateralized-debt positions (CDP). With the integration of mXRP, Lista DAO allows XRP holders to tap into a diverse array of liquidity pools, farming opportunities, and borrowing markets while layering the yield of mXRP with additional DeFi returns. This creates a robust framework for managing and enhancing liquidity in the continually evolving DeFi landscape.

A Promising Future Ahead

Midas, the asset issuer behind mXRP, is quickly gaining recognition for its innovative offerings. Dennis Dinkelmeyer, co-founder and CEO of Midas, highlighted that mXRP has shown exceptional growth, even before fully realizing its strategic potential. By engaging with Lista DAO, XRP holders can navigate the DeFi ecosystem, unlocking greater financial opportunities through lending, farming, and advanced yield strategies.

Toru Watanabe, founder and CEO of Lista DAO, reinforces this vision, asserting that the organization's mission is to ensure that liquid-staking tokens are not only functional but truly composable within the broader DeFi space.

For those interested in this unique opportunity, further details about mXRP can be found at midas.app/mxrp and lista.org.

About the Key Players

• - Axelar is renowned for being the gateway to onchain finance, providing a decentralized network that connects various blockchains and financial institutions. Its secure technological infrastructure is tailored for essential use cases within the crypto finance realm.
• - Lista DAO leads as a BNB-based protocol, specializing in lending and decentralized collateral solutions, demonstrating significant value to its users.
• - Midas has differentiated itself in the tokenization landscape by building strong financial products that blend traditional finance principles with the innovative capabilities of DeFi.

In summary, the launch of mXRP on the BNB Chain not only presents XRP investors with novel opportunities for yield generation but also enhances the overall accessibility of DeFi for a broader audience, setting a precedent for future integrations and collaborations within this space.