Some partners of the Ripple ecosystem have worked together to launch a new yield product for the native token of the XRP Ledger (XRPL); However, the effort has yielded mixed reactions from members of the community.
According to a blog post from Blockchain developer Interop Labs, a partnership with the tokenization platform Midas Drilled To MXRP, which is described as a tokenized exposure product that offers yield strategies for XRP holders.
New XRP yield product
MXRP will live in the decentralized interoperability and tokenisation network, Axelar, which was founded by Interop Labs. Ripple Labs worked with Axelar at the beginning of last year to stimulate the Real-World Asset (RWA) tokenization on the XRPL. Midas and Interop Labs unveiled MXRP on stage on the XRP Seoul 2025 conference on September 21.
In the Axelar network, MXRP is issued on the new XRPL Ethereum Virtual Machine (EVM) -compatible network via controlled smart contracts. Midas will offer the structuring and infrastructure behind MXRP.
When users deposit their XRP computer into a tokenized certificate structure, they can mxrp mint. The new product can be used in decentralized protocols (Defi) with extra opportunities. The aim is to channel dormant XRP delivery to revenue structures that can yield a considerable return of up to 10% APY.
It is worth noting that Midas and Interop Labs are the only platforms that make new use cases for XRP. The Defi -interoperability platform, Flare, has been in the game for a while. Flare has an XRP yield structure and recently revealed the first Stablecoin loans supported by XRP.
Mixed reactions
Although the latest development could unlock new use cases for XRP, not all members of the community have embraced it with open poor. Some insist that there is nothing wrong with other protocols that make new use cases for XRP, while others believe that such movements are shifting the focus of the XRPL.
The pseudonym XRPL -Validator and Community employee, veterinarian, tweeted That such initiatives remove liquidity from the XRPL to partner protocols. With other chains that offer community yield in their participations, XRP remains from its core ecosystem.
“Are we okay to be the bitcoin in Defi?” They asked.
Fat is of the opinion that the standard setting must be aimed at first attracting liquidity to XRPL, because the chain is the OG -Decentralized Exchange (DEX) and tokenization platform. Moreover, XRP will benefit from an increased Dex activity, because it becomes a bridge currency, so that entities can scale on the network.
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