Firelight

Firelight is a decentralized risk cover protocol built on the Flare Network. Firelight’s staking mechanism is designed to enable staking for XRP holders, providing them with the means to deploy and stake assets in a decentralized manner while maintaining liquidity through a liquid staking token (LST), stXRP.

Seed Round: $8M

Whitepaper

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What is Firelight

Firelight is a decentralized risk cover protocol built on the Flare Network, providing on-chain protection for digital asset products. Its staking mechanism enables XRP holders to deploy assets into non-custodial vaults that back coverage against risks such as smart contract exploits, oracle failures, governance attacks, bad debt, depegs, and redemption failures. Users can maintain liquidity through stXRP, Firelight’s liquid staking token (LST), while earning a share of coverage fees for supplying protection capital. Firelight combines decentralized staking, liquid assets, transparent coverage terms, and programmatic payouts within a DeFi risk marketplace.