mXRP Becomes Fastest-Growing Midas Product
mXRP is a new yield-bearing liquid staking token for XRP. It is issued by Midas and powered by Axelar. The token collected nearly $30 million in deposits within two weeks of launch. This makes it the fastest-growing product in Midas history, according to Axelar Knowledge Center data.
mXRP was created to help XRP holders earn income from their coins. It is issued under an EU-approved license and managed by Hyperithm, a firm known for trading strategies. The strong launch shows growing demand for XRP yield and new on-chain options.
Cross-Chain Access Expands Yield Opportunities
Axelar Network highlighted that cross-chain connectivity is key for mXRP. The token links the XRP Ledger and XRPL EVM to over 80 blockchains. This allows users to move tokens easily and use DeFi apps offering income on digital assets.
Axelar reported that mXRP’s growth has outpaced other Midas products like mAPOLLO, mEDGE, mHYPER, and mMEV.
Stable Yield Through Delta-Neutral Strategies
mXRP’s success comes without looping or borrowing strategies. Onchain data shows deposits to the mXRP vault surged past other products. The token uses delta-neutral trading strategies to generate stable yield. These strategies earn consistent XRP returns through arbitrage and funding rate differences across exchanges.
Users can bridge XRP to XRPL EVM and instantly mint mXRP. This turns XRP into a yield-earning asset. However, mXRP is not available to users in restricted regions, including the United States and the United Kingdom.
Axelar said the partnership with Midas marks the next phase of growth for onchain finance. It combines blockchain technology with real-world yield.
