Kraken launched on October 15 a protected USDC vault through its DeFi Earn service, enabling XRP holders to earn protection fees by deploying collateral capital on Firelight. Premiums paid by depositors are converted into FXRP and distributed to stakers holding stXRP. Premium amounts and generated revenues have not been disclosed, and capital providers remain exposed to losses across the protocol’s broader coverage portfolio. Depositors are eligible for compensation of up to $100,000 per address, but Kraken does not finance or guarantee these payments, which depend on monthly renewals and continued demand for this protection.
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