The first Friendly Fork license payment of 52.5 APS is now claimable at https://t.co/5q3sFWnyHC
Our hope would be that many of you would take a look at the @Flarenetworks and Enosys Global and perhaps take an interest in what we are building there.
There aren't many opportunities to get essentially risk free access to a new ecosystem, especially one which is already established and primed for growth.
If you don't know what you want to do with your APS yet, you might want to take a look at our governance staking at https://t.co/dMoQdfQYny where you can currently earn about 15% APR of real yield (denominated in a variety of assets from fxrp to usdt0) that is aggregated from fees in our ecosystem.
Our CSO, @Thana_Enosys, will be joining the @LiquityProtocol spaces tomorrow to give an overview and can also answer any questions. https://t.co/4r12aogCws
If you are interested in learning more and maybe trying out a new eco, you can visit our website at https://t.co/HF2cFs36TI or use our linktree for official community channel invites.
🚨 SPACES alert!
Join us tomorrow for a Spaces with @enosys_global where we will discuss:
- The Enosys ecosystem, and what you can do on @FlareNetworks
- The Enosys DEX, and yield farming opportunities that are available
- The on-going airdrop to Liquity Mainnet users 👀
https://t.co/Y8TPfGQupC
New Milestone Reached!
$10 M TVL in FXRP and wFLR Collateral in Enosys Loans!
$5.6 M CDP minted, and growing!
Borrow CDP against your FXRP and wFLR today at https://t.co/feV9pYmyor
With @Enosys_Global loans on Flare, FXRP and wFLR holders can now:
🪙Mint CDP Dollars, a soft-pegged stablecoin
🪙Unlock liquidity without selling XRP
🪙Set their own borrow or delegate rate management
🪙Earn protocol fees, liquidation rewards, rFLR + $APS in Stability Pools
🪙Use CDP in new DEX V3 liquidity pools for yield
Expanding what’s possible in a deeper, more flexible XRPFi stack.
In just a few hours, over 1 million $CDP were minted.
Enosys Loans has already surged to $3.6M TVL overnight, with 1.6M $CDP now minted (including $1M backed by XRP).
Enosys Loans users earn incredible rewards on @FlareNetworks.
CDP in the FXRP Stability Pool earns 75% of FXRP branch mint fees and interest, plus 80k rFLR and 0.4 APS per day in incentives.
CDP in the wFLR Stability Pool earns 75% of wFLR branch mint fees and interest, plus 20k rFLR and 0.1 APS per day in incentives.
Liquidity Providers in the CDP/USDT0 LP on Enosys DEX V3 earn 0.045% swap fees and a share of 100k rFLR and 0.5 APS per day!
That’s $5k per day in rewards, just for minting and utilizing CDP!
Join in at https://t.co/pLQt4hFbT0
First 24h stats for Enosys Loans:
218 Troves created
257 Earn Positions created
$3.88M TVL
$1.72M CDP minted
226% Total Collateral Ratio
$1.17M CDP in Stability Pools
$1.03M TVL in CDP/USDT0
Strong start to the first CDP backed by $XRP on @FlareNetworks
Alrighty, let's talk @enosys_global Loans launch strategy on @FlareNetworks.
We'll be launching with two collateral options : FXRP and wFLR.
The FXRP branch will have an initial mint cap of $4M CDP, with a minimum debt per Trove of $500 CDP.
Minimum Collateral ratio is 110% (90.91% LTV), but the Critical Collateral Ratio is 150%, so the bulk of the borrowing will need to be closer to 200% (which is a significantly safer idea for almost everyone, unless you are Degen leveraging through looping).
If you don't understand what that means, read this section of our docs, and #dpbiydkwtd :
https://t.co/VTFlvNfAHB
The wFLR branch will have an initial mint cap of $1M CDP, with a minimum debt per Trove of $500 CDP.
Minimum Collateral ratio is 120% (83.33% LTV), but the Critical Collateral Ratio is 160%.
FLR is a less liquid/more volatile asset than XRP, so we are applying stricter risk controls to start.
The difference in caps here means the wFLR side will probably fill up pretty quickly, so get your FXRP ready too.
Ok, so you minted some CDP, now what?
First thing you are probably going to want to do is put some of it into the stability pools.
The FXRP branch and wFLR branch have separate SPs which play a part in both liquidations and determining redemption order, but are compensated through 75% of that branch's mint/interest fees as well as some pretty juicy incentives in rFLR and APS.
NFA, but at least 60% of your CDP into one or both SPs.
Then, you take the rest and bring it to the new CDP/USDT0 LP on Enosys DEX V3 and pair it with some USDT0.
This will also be highly incentivized, as the more stable liquidity we can get for CDP, the tighter the peg will be without the need for constant arbitrage.
At this point, minting your CDP and trying to sell some is not going to be an amazing experience, because we need time for the liquidity to build.
I know everyone is going to be excited about this, and wanting to do things, but at this initial point, the best thing for the health of the system is just for the debt to be minted and then used as liquidity for both stability and peg.
Obviously if you want to go Degen, go Degen. This is DeFi, and no one is going to stop you...or protect you.
Don't worry though, the initial incentives will reward your patience. That's literally why they are there.
The faster we hit caps, the faster we will raise them, and the faster we will add new collateral options like stXRP and sFLR.
Let's make Enosys Loans the backbone of #XRPFi.
So, go read through the docs now. If you haven't tested yet, go test. We tried to give ample time for everyone to learn and try things out.
Now though?
I feel ready. Do you feel ready?
Ever wanted to borrow stablecoins against your crypto without selling? Enosys Loans on @FlareNetworks makes it simple with overcollateralized Troves (your personal vaults). Here's how it works:
Step 1: Create a Trove – Deposit collateral like FXRP or wFLR. No lockups or repayment deadlines – repay anytime!
Step 2: Borrow CDP – Get USD-pegged stablecoins instantly (min debt: 500 CDP). Set your own terms for LTV and interest rate.
Step 3: Earn – Stake a portion of your borrowed CDP into the Stability Pools to earn a share of protocol revenues and incentives.
Risks to Know: High LTV and low interest rates expose you to higher liquidation and redemption risk. Start conservative and monitor! Perfect for leveraging without selling assets.
Enosys Global was founded with a single goal-
Create a useful defi product suite that would form the foundation for a real yield generating ecosystem.
Our team has been the longest lasting and most prolific builder in this ecosystem.
In the last 4 years we have developed and deployed:
DeFi Oracles - our Validator and data provider for the Songbird and Flare Networks
Skopos - custom blockchain indexing and analysis service
Dex V2 - a general purpose decentralized exchange based on Uniswap V2.
Farms - Yield farms for incentivizing Dex V2 Liquidity Provision
Simple Staking - a one click solution for quickly adding small liquidity amounts to Dex V2 and Farms.
Bridge - a bridge system with built in security and pauser functions
Gallery - an NFT marketplace and auction house with free NFT minting
Clover - a fair distribution and event protocol
Ermis - an end-to-end onchain encryption protocol for physical NFT redemptions
Samurai Staking - an NFT staking system, automatically allocating a share of revenue to stakers.
Oryy - a deterministic deployment of Safe, providing multisig
Dex V3 - a concentrated liquidity market maker based on Uniswap V3
Dex V3 Reward Manager - an automated onchain incentive system for incentivizing active liquidity in CLMMs
FTSO Reward Manager - an automated onchain system for managing wNAT delegations and rewards
Loans - a friendly fork on Liquity V2, providing the first CDP backed by XRP
Governance - automatic governance protocol that can actually execute protocol level changes.
Now, not all of those products have achieved significant success, not all of them are currently on the Flare Network, and not all of them generate revenue for Enosys or the Enosys Global Ecosystem.
However, with the launch of $FXRP and the upcoming launch of Enosys Loans, we believe the ecosystem is now ready.
The path is clear. The time has come.
The APY Cloud is coming to @FlareNetworks.
At its core, the APY Cloud acts like a financial advisor for the Enosys ecosystem, managing yields from the Enosys Global products and services. It collects fees from these products and distributes them to users who stake Enosys governance tokens, HLN and APS. The twist? The system dynamically adjusts payouts based on the ecosystem’s health, ensuring returns are sustainable.
The protocol monitors the balance between staked tokens and fees generated by product usage. When usage is high and fees exceed expectations, APY Cloud shares a portion of the surplus with stakers. During lean times, when fees are low, it taps into saved earnings or reserve funds to maintain a minimum return for at least three years, though prolonged low performance could strain this safety net.
The APY Cloud operates with three adjustable settings to keep things fair and stable:
Minimum APY (5%): This is the baseline return stakers can expect, though it’s not guaranteed in extreme conditions.
Maximum APY (35%): The highest yield users can earn, depending on platform performance.
Excess Threshold (7%): Any returns above 35% are capped at an additional 7% (totaling 42%), with excess savings stored for future use.
These parameters, set through community governance, allow the APY Cloud to adapt to market changes. For example, if the platform earns more than expected for three months straight, it distributes a portion of the excess to stakers daily, encouraging active participation. If earnings dip below the minimum, the system uses saved funds or reserves to cushion the blow, incentivizing users to boost platform activity.
The APY Cloud has been running for 4 weeks now on Songbird, distributing current and historical fees to $EXFI and $SFIN stakers at an average APR of ~25-30%.
In the coming days, $APS and $HLN holders on Flare will be able to stake their assets in Governance to earn a share of all fees - past, present, and future - earned by all products in the Enosys Global mainnet ecosystem. Historically aggregated fees will be added to the distributor on a rolling basis to avoid front loading and to support the rewards as we head into the Launch of Loans. These fees are distributed in the form they are collected, so stakers will be receiving: wFLR, sFLR, FXRP, HLN, APS, USDT0, USDC.e, eETH, eUSDT, eQNT, BNZ, USDX, and (soon) CDP and stXRP.
We know you are thirsty.
Let the rains come.
1/ The SparkDEX Eternal Perps Trading Competition is officially LIVE 💥
3 weeks of trading, 1,200,000 rFLR ready for distribution.
Get your perps game on, go long or short, and get rewarded.
Start now: https://t.co/8xz9TtmhLP
Leaderboard: https://t.co/oLMjpOH142
What is FXRP?
FXRP is the wrapped version of $XRP on @FlareNetworks, allowing users to participate in Flare's DeFi ecosystem.
This is the first FAsset to be released, representing the non-smart contract version of XRP that is secure, scalable, and retains full custody for users.
DeFi use cases for FXRP on SparkDEX include trading, yield farming, and collateral for perpetuals trading (coming soon).
To get FXRP on Flare, users can either utilize the 'Bridge' page on SparkDEX, bridge directly through @luminite_wallet, or use an agent to mint.
The recent launch of FXRP on Flare marked a historic moment and opportunity for XRP holders, opening the floodgates to XRPFi and utility that's never been seen before.
5M FXRP were minted in just a day after launch, with the cap set to rise again this week. Things are just getting started...