Cofounder of @flarenetworks.
Dubai, United Arab Emirates
Joined March 2019
- Tweets8.9K
- Following794
- Followers127K
- Likes8.4K
Hugo Philion retweeted
JUST IN: Flare hits record $8.77 million in RLUSD loans backed by FXRP on Morpho
Specifically, lending activity on Morpho grew 24.73% in 30 days, with 13.13 million FXRP deposited as collateral, up 23.98% over the same period.
Hugo Philion retweeted
XRP just got a new job. 🔥
@Firelightfi is now live on @FlareNetworks using staked FXRP to back onchain cover for DeFi vaults, starting with @SentoraHQ ’s USD Protected & RWA Vaults.
Incubated by Sentora, backed by Ripple & Flare.
Put your XRP to work.
XRP holders, this one’s for you. 🎥
Watch the full breakdown here 👇
youtu.be/oOjjiQhT3ek?si=JYF6…
(ft. Not financial advice)
@Ripple @FlareNetworksKR @HugoPhilion
Hugo Philion retweeted
The user doesn't need to hold $FLR. The transaction still funds it.
When Smart Accounts are used, part of the XRP pays the executor. That executor spends FLR on the 20x base fee and the FDC request. The minting fee and 90% of the FDC fee route to FIRE.
The Flare Income Reinvestment Entity (FIRE)'s mandate is to reduce FLR supply through buybacks and burns. FSA is a way the fees land there without holders needing to hold FLR.
One signature from the wallet you already use.
Earn is live now. Collateral and borrow come next.
That path is what Flare Smart Accounts were built for.
flare.network/products/flare…
Hugo Philion retweeted
Flare Meetup New York 🗽
Flare is hosting a meetup during @RippleSwell on October 27th at The Addison NY, steps away from the Swell venue.
Come meet builders, traders and founders, including @upshift_fi, @SentoraHQ, @Firelightfi and @XRPLJapan, over an open bar and bites.
Space is limited. Request to join: luma.com/pv1hqf61
Hugo Philion retweeted
Blockspace is abundant. Reliable data isn't.
@FlareNetworks built its L1 around the data smart contracts need.
That layer already powers FXRP, with nearly 90% deployed in DeFi, and is extending to private data through Confidential Compute.
Full report: defillama.com/research/repor…
Hugo Philion retweeted
Curators on Upshift can now add @Firelightfi cover to their vaults.
@SentoraHQ's Protected USD and Protected RWA vaults are the first to offer it. The covered events, price and capacity are registered onchain, and staked XRP on @FlareNetworks supplies the cover capital.
Hugo Philion retweeted
One signature from the wallet you already use.
Earn is live now. Collateral and borrow come next.
That path is what Flare Smart Accounts were built for.
flare.network/products/flare…
Hugo Philion retweeted
Singapore recap from @token2049.
A look into our evening Above the Bay with our partners @Firelightfi, @HypernativeLabs, and @Cloudflare.
Hugo Philion retweeted
Deposit into Firelight with @FlareNetworks Smart Accounts.
Connect your XRPL wallet → mint FXRP → deposit into the Firelight vault.
The complexity is handled for you, so all you need is $XRP. Here’s how it works. 👇
Firelight is inside Flare Smart Accounts.
Open the portal, select @Firelightfi , and in one click your XRP becomes the capital behind onchain cover.
→ fsa.flare.network
Hugo Philion retweeted
$12B+ in lifetime trading volume. ⚡️
A new milestone for SparkDEX and the Flare ecosystem.
Thank you for trading with the #1 DEX on @FlareNetworks
Hugo Philion retweeted
Swell is ten days out, and @HugoPhilion will be speaking on stage.
What is the one question about XRP on Flare you want answered from that stage? Drop it below. We will bring the best ones with us.
Flare's @HugoPhilion will be speaking at @RippleSwell on how @FlareNetworks has been advancing DeFi for XRP.
XRPL holds the asset. Flare is where XRPFi lives, and more of that stack is still coming.
Hugo Philion retweeted
Firelight is inside Flare Smart Accounts.
Open the portal, select @Firelightfi , and in one click your XRP becomes the capital behind onchain cover.
→ fsa.flare.network
Hugo Philion retweeted
XRP on Firelight backs coverage for @krakenfx Protected Strategies USDC and @SentoraHQ's USD Protected and Protected RWA Vaults.
Tune in to learn why XRP’s market position matters for DeFi and how Firelight works. 🔥
Hugo Philion retweeted
There is no cooler dashboard then this full oversight of all yield protocols on Flare.
Finding these gems is just too easy.
Keeping my WFLR/USDT0 pool earning 3.8% every month.
When Bitcoin finishes its crash somewhere in the coming weeks, Ill rotate into WFLR/FXRP to let the alts run.
Yield Maxing.
Hugo Philion retweeted
Cover on @krakenfx, capital on @FlareNetworks .
Every onchain product @Firelightfi covers, draws on one pool: staked FXRP.
XRP reaches that pool through FAssets, from the XRPL wallet you already use.
→ fsa.flare.network/vaults/1
Hugo Philion retweeted
Firelight is a good example of Flare infrastructure reaching financial products outside the Flare ecosystem.
The $30.5M of cover added to Kraken’s USDC vault is powered by Firelight on Flare, with coverage backed by staked FXRP through the FAssets system.
Coverage terms and capacity are registered onchain, independent risk assessors validate eligible incidents, and approved payouts are executed programmatically.
This gives products like Kraken’s USDC vault access to a shared onchain protection layer without having to build the coverage infrastructure themselves.
USDC VAULT ON @krakenfx ADDS $30.5M COVER
Firelight cover is live for specified protocol failures. Payouts carry a $100,000 cap per address per coverage period, depend on available capital and aren't guaranteed by the exchange.
Read more here:
thedefiant.io/news/defi/fire…
Hugo Philion retweeted
Two weeks since FCC’s first application landed on Songbird: @Hex_Trust’s USDX proof of reserves.
Hex Trust supplies the inputs. They stay sealed in a TEE. Only the signed result is onchain.
Read the launch →flare.network/news/flare-con…
