mXRP Certificate Offers XRP Holders Yield Without Price Increase
mXRP, a novel certificate product, has been developed to allow XRP holders to generate yield independently of price increases. This innovative financial tool was created in partnership with Axelar and Hyperithm, utilising on-chain and cross-chain infrastructure.
mXRP offers several benefits to XRP holders. It provides yield potential, reduces exposure to volatility, broadens adoption, and enables active participation while waiting for price movement. This is the first certificate to offer exposure to market-neutral, yield-paying XRP strategies.
Hyperithm manages the execution and risk checks for mXRP, ensuring market-neutrality and preventing over-exposure to volatility. Unlike basic wrapped tokens or derivatives, mXRP is a certificate product designed for market-neutral strategies. Midas issues the mXRP certificate and applies these strategies to its broader platform of tokenizing real-world assets.
Axelar facilitates cross-chain connectivity, allowing XRP to flow into various blockchains and protocols for yield generation. mXRP leverages DeFi potential within the XRPL EVM universe and beyond, generating yield through liquidity provisioning, market-neutral arbitrage, and collateralized strategies.
Investors should carefully consider the risks associated with mXRP, such as smart contract weaknesses, distress liquidity, counterparty and operational risk, and regulatory uncertainty. Despite these considerations, mXRP presents an exciting opportunity for XRP holders to generate yield independently of price increases.
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