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Midas and Axelar Introduce mXRP Tokenized XRP Product Offering Up to 8% Yield

Midas, in partnership with Axelar and Hyperithm, introduces mXRP, a tokenized XRP product offering up to 8% yield, enabling enhanced DeFi integration and liquidity provision.

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Fact Check
The statement is strongly supported by multiple credible sources. Official announcements from Axelar (Sources 1, 2), press releases (Sources 6, 7, 11, 12), and reporting from crypto news outlet The Block (Sources 5, 10) all confirm the partnership between Midas and Axelar and the launch of the mXRP product. The Block specifically reports that the product is 'targeting a base yield of up to 8%', which directly corroborates the yield claim in the statement.
    Reference: 123
Summary

Midas, in partnership with Axelar and Hyperithm, has launched mXRP, a tokenized XRP product fully composable in DeFi, offering a target base yield of 6-8%. Users can deposit XRP to generate returns via strategies like market-making and liquidity provision. The product also allows DeFi integration, maximizing yield potential for XRP holders. mXRP is restricted in the U.S., U.K., and other sanctioned areas. If mXRP’s AUM grows to $10 billion by June 2026, it could generate $700 million in annual XRP buying pressure.

Terms & Concepts
  • mXRP: A tokenized XRP product launched by Midas, enabling exposure to XRP with the potential for yield through DeFi integration and collateralization strategies.
  • Yield Strategies: Investment strategies designed to generate returns, such as market-making, liquidity provision, and other asset management techniques.
  • Risk Curator: A role or entity responsible for managing and overseeing investment strategies, ensuring that they align with risk profiles and yield expectations.