Flare blockchain has announced that FXRP can now be used as collateral on Derive, enabling XRP holders to trade options and perpetual futures directly from their own wallets. XRP options are cash-settled in USDC: when a contract expires in the money, the difference is paid out in USDC without moving any underlying XRP. Built on Lyra Finance infrastructure, Derive has a total value locked of approximately $118 million and the highest 30-day notional options volume of any on-chain venue tracked by DefiLlama. Over 155 million FXRP have been minted within seven months, and FXRP deployed across DeFi surged from 82 to 144 million since February.
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