Firelight, a DeFi cover protocol on Flare, automatically moved staked FXRP into its coverage phase on Oct. 6, exposing depositors to pooled claims and 30-60 day withdrawal waits. Three cover orders settled that day allocated $38 million in coverage with approximately $56,913.70 in premiums charged. Total value locked stood at roughly $69.7 million on Oct. 14, with approximately 51.13 million FXRP in the vault. The fixed 230,000 FXRP early-contributor allocation does not establish recurring income, and XRP hit an intraday low of $1.32 on Oct. 14 amid inflation data exceeding expectations.
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