Firelight starts offering DeFi cover backed by staked XRP

Firelight has begun writing DeFi cover backed by staked XRP, marking the rollout of its first cover positions. Those initial positions were allocated to two Sentora vaults, with payouts supported by 50.2 million XRP staked on Flare. The structure ties claim-paying capacity to assets already staked on the network, according to TheDefiant. Claims are handled by a five-firm consortium and decided through a three-of-five vote. The report also said audits for the coverage contracts are listed as coming soon, indicating that audit details have not yet been published in the article snapshot. The launch gives Firelight an initial live use case centered on DeFi cover rather than a broader product set described in detail. TheDefiant’s item did not provide additional terms for the cover, such as pricing, duration, or the names of the five firms involved in claims decisions. It also did not specify the identities of the two Sentora vaults beyond noting that they received the first cover positions.