Firelight, a protocol on the Flare network, plans to let XRP holders earn yield by depositing FXRP as collateral for DeFi coverage (protection for decentralized-finance users). Coverage customers would pay premiums to collateral providers, but withdrawals could extend from the current one to two days to roughly 30 to 60 days after 30-day coverage periods begin. Rewards stop when unstaking starts, while claims from current or earlier coverage periods can reduce the final FXRP payout. DefiLlama recorded $71.74 million in total value locked on September 13, although that figure reflects deposits rather than coverage sold or premiums collected. Firelight uses a First-Loss Buffer, a stablecoin reserve that absorbs validated claims before losses reach staked FXRP.