DeFi Insurance Service 'Firelight' Launches XRP Staking Feature

Firelight, a developer of decentralized finance (DeFi) insurance services, announced on the 3rd the launch of its product, the 'Firelight Protocol'. The Firelight Protocol provides users with opportunities to earn rewards by utilizing idle assets. The service will be expanded in phases, starting with the launch of a staking feature for the cryptocurrency XRP. Firelight's DeFi insurance applies in cases of issues with smart contracts or oracles, as seen with the recent XRP feature.