Wanchain is a decentralized finance (DeFi) project connecting different blockchain networks for this emerging market. Click here to read more about what DeFi is in the first place and what things like liquidity mining and yield farming are.
Currently, XRP, Ripple’s controversial cryptocurrency, is not compatible with the DeFi market, but that is rapidly changing. Jack Lu, CEO of Wanchain, announced on April 10 that so-called cross-chain bridges will soon launch on XRP.
“Few communities are as passionate as the XRP community. I am so happy to announce that Wanchain’s decentralized cross-chain bridges for XRP are about to go live on the mainnet.
This means that XRP tokens can now be used for liquidity mining and yield farming. XRP holders can now leverage DeFi applications such as WanSwap, WanLend, WanFarm and many more on Wanchain and Ethereum. ”
Emi Yoshikawa, Ripple’s Vice President of Global Business Strategy and Operations, congratulates the Wanchain team and is pleased to see the XRP ecosystem expand in this way. Wanchain also has blockchain bridges to Bitcoin and EOS and expects to add more blockchain networks in the future.
Flare Networks also wants to bring DeFi to the XRP network by introducing smart contracts. This will be done on the basis of an Ethereum virtual machine (EVM), also a kind of blockchain bridge, but then between Flare and XRP.
Earlier today, Crypto Insiders stated that the XRP price had risen sharply again in the past 24 hours, partly thanks to a "small victory" in the lawsuit between Ripple and the US Securities and Exchange Commission (SEC).