How to earn yield on XRP with Flare vaults

There are over 2 billion XRP sitting idle in wallets. They do not earn yield.

EarnXRP was launched to change that. It's the first fully onchain, XRP-denominated yield vault, live on Flare Network since December 2025, and it held about $48.2 million on 29 September 2026, according to Upshift's vault API. You deposit FXRP (self-custodial, wrapped XRP on Flare), a professional curator puts it to work across the DeFi ecosystem, and you earn yield denominated in XRP. Your keys, your custody, auto-compounding. Unlike a dollar stablecoin, XRP's price floats with the market, and a return earned in XRP can be worth more or less in dollars than the rate suggests.

Here's how it works, what the strategies look like, and how to get started.

What is FXRP?

Before getting into the vault, you need to understand FXRP.

FXRP is XRP represented as an ERC-20 token on Flare Network. It's minted through Flare's FAssets system, which is overcollateralized (2x+), non-custodial, and verified by Flare's native oracle infrastructure. Every FXRP is backed by more value than the XRP it represents.

The system hit 100 million FXRP in circulation by February 2026, with 60%+ actively deployed in DeFi.

To mint FXRP, you send XRP to the Core Vault, an address on the XRP Ledger that the FAssets system controls, with a destination tag or memo naming your Flare address. The Flare Data Connector verifies the payment and FXRP is minted to your Flare address. Our FXRP explainer covers minting and redemption in full. You can also acquire FXRP directly on Flare DEXs like SparkDEX or Enosys.

What is earnXRP?

EarnXRP is a yield vault built on Upshift infrastructure and curated by Clearstar, a Swiss-backed risk manager. It accepts FXRP deposits and routes them across yield-generating strategies on Flare, returning yield denominated in XRP.

The vault launched in December 2025 and held about 32.2 million FXRP, worth about $48.2 million, on 29 September 2026.

When you deposit, you receive earnXRP tokens representing your share of the vault. As the vault generates yield, your earnXRP appreciates in value relative to FXRP. No manual claiming, no restaking. It compounds automatically.

Vault contract: 0x373D7d201C8134D4a2f7b5c63560da217e3dEA28 on Flare.

How does the earnXRP strategy work?

Clearstar manages the vault's allocation across two broad categories:

FXRP DeFi deployments. The vault supplies FXRP into Flare-native protocols: lending on Kinetic and Morpho, providing concentrated liquidity on SparkDEX and Enosys, and liquid staking via Firelight (stXRP). These generate yield from borrower interest, trading fees, and staking rewards.

Carry trades. The vault borrows stablecoins (USDT0) against FXRP collateral, then deploys those stablecoins into higher-yielding opportunities across Flare's ecosystem. The spread between the borrowing cost and the deployment yield creates additional returns.

The specific allocation shifts based on market conditions. Clearstar rebalances to optimize risk-adjusted yield, and Upshift's policy engine enforces constraints at the smart contract level (which protocols are allowed, maximum exposure limits, and so on).

What does earnXRP currently pay?

Yields fluctuate with DeFi protocol rates and vault allocation.

Since the vault began accruing in January 2026 it has returned about 1.6% annualised in XRP terms, measured from its share price, and its rolling 30-day return has ranged from roughly 0.2% to 5.3%. The 30-day trailing APY was about 1.0% on 29 September 2026.

The vault's current 30-day trailing APY and real-time TVL are visible on the vault page, and that's the number to work from. Yields are variable and can change as DeFi rates move.

How do you deposit XRP?

Step 1: Get FXRP on Flare.

You have two options. Mint FXRP through the FAssets portal by sending XRP from an XRPL wallet (this takes a few minutes and costs a small FLR fee). Or buy FXRP directly on a Flare DEX like SparkDEX using USDT0 or other tokens.

Step 2: Connect to Upshift.

Go to app.upshift.finance and connect your wallet. Make sure you're on the Flare network. MetaMask, Rabby, and most EVM wallets work.

Step 3: Find the earnXRP vault.

Navigate to the Flare vaults section and select the "Flare XRP Yield" vault (earnXRP).

Step 4: Approve and deposit.

Approve FXRP spending, enter your deposit amount, and confirm the transaction. You'll receive earnXRP tokens representing your vault share.

That's it. The vault handles strategy allocation, rebalancing, and compounding from here.

How do withdrawals work?

EarnXRP offers two withdrawal paths:

Queued withdrawal. Submit a withdrawal request, and the vault processes it within 72 hours. This is the default path used by ~85% of withdrawals. No fee beyond gas.

Instant redemption. If you need liquidity immediately, the vault supports instant redemptions (subject to available liquid reserves). This carries a small fee.

Upshift processes all claimable vault redemptions daily, and queued withdrawals typically clear well within the 72-hour window.

What are the risks?

A few things to understand:

Smart contract risk. The Upshift vault contracts have gone through 11 smart contract audits by 6 independent firms. Audits reduce risk; they don't eliminate it.

FXRP bridge risk. FXRP depends on Flare's FAssets system. It's overcollateralized and non-custodial, which helps, but it's still bridge infrastructure. The FAssets system is relatively new (mainnet since September 2025), and novel bridge designs carry inherent risk that decreases as the system matures.

DeFi protocol risk. The vault deploys into multiple Flare protocols. If any underlying protocol has a vulnerability, it could affect vault returns. Clearstar's role is to manage this exposure, and Upshift's policy engine restricts which protocols the vault can interact with.

Yield variability. Returns depend on DeFi rates across Flare. These rates fluctuate with market conditions, protocol incentives, and capital flows. Past performance gives you a baseline, and future returns can differ.

Always make sure to do your own research and be aware of the above and any other risks before depositing.

Which XRP vaults exist on Flare?

Two vaults on Flare take FXRP deposits as of 29 September 2026, run by different managers against the same asset. The Flare XRP Yield Vault, which issues earnXRP, held about 32.2 million FXRP. The Monarq XRP Yield Vault held about 7.7 million FXRP. Both accept FXRP, mint a receipt token you hold yourself, and process redemptions on a daily cycle.

Choosing between them comes down to the mandate, since both run on the same vault infrastructure and the same policy-engine restrictions. Compare the strategies each one runs and the risk taken to earn the return, which is covered in the strategies onchain vaults run.

Why is XRP yield only possible on Flare?

EarnXRP exists because Flare built the infrastructure to make XRP programmable. Before FAssets, XRP holders had limited yield options: centralized lending platforms (with counterparty risk that played out badly in 2022) or simply holding.

Flare's DeFi ecosystem now includes SparkDEX for trading, Kinetic for lending, Firelight for liquid staking, Enosys for LPing, and more. Flare's DeFi TVL was about $134 million on 29 September 2026, according to DefiLlama. The FAssets Incentive Program (up to 2.2 billion FLR allocated from July 2025 through July 2026) subsidized early participation.

For XRP holders who want yield without selling their position, the path is: XRP to FXRP to earnXRP. It's a single deposit into one vault that compounds automatically, with the depositor self-custodied throughout.

Ready to start? Deposit into earnXRP on Upshift.