Enosys Loans CDP

Enosys Loans is a friendly fork of Liquity v2, enabling users to create collateralised debt positions on the Flare Network.

Initially supporting FXRP and wFLR as collateral - but with plans to expand support to include staked XRP (stXRP from Firelight ), FBTC (Bitcoin bridged to Flare), and other assets - Enosys Loans is poised to unlock unprecedented utility for major cryptocurrencies like XRP and Bitcoin in decentralized finance. By harnessing Flare’s advanced infrastructure, including the Flare Time Series Oracle (FTSO) for decentralized collateral pricing, Enosys Loans is set to redefine how non-smart contract assets participate in DeFi.

Unlocking DeFi for XRP

For the first time, XRP holders can use their assets as collateral in a CDP to mint a new stablecoin, enabling participation in DeFi applications such as lending, borrowing, and yield generation while still maintaining exposure to the underlying FXRP. This is a transformative step for XRP, which, due to the XRP Ledger’s lack of native smart contract functionality, has historically been excluded from the broader DeFi ecosystem.