Most people think “XRP staking” means wrapping risk or CEX custody. What @moremarketsxyz and Firelight are actually shipping is cleaner: FXRP stays in the Flare stack, gets deployed to Firelight vaults, and you mint stXRP that can earn protocol fees when coverage is bought real demand, not vibes. Flare’s own update laid the groundwork for the XRP Earn Account, and Firelight’s Nov 2025 mainnet notes confirm stXRP + fee-based rewards as Phase 2 rolls in. I like the design because custody and execution are separated: deposits live in the Flare/XRPL model, strategies rotate under the hood, and rewards are sourced from actual cover fees rather than temporary emissions. MoreMarkets’ also shows they’ve been wiring in institutional-style routes (Term, Aave, etc.) this adds a second income stream via Firelight’s cover market. ❯ What changes: passive XRP becomes stXRP with fee share potential ❯ Why it matters: fee revenues scale with DeFi usage, not just incentives ❯ Who benefits: self-custody users who want institutional mechanics without CEX trade-offs Dev note: expose a simple “coverage fees earned” stat per account so power users can track fee share vs. incentives over time. Claim check: if cover uptake grows post-mainnet, the thesis holds; if it stalls, rewards tilt back toward incentives. I’m tracking stXRP supply, fee accrual, and Flare TVL next. Also looping STBL here since they’ve been pushing for self-custody yield done right