[Firelight Launches DeFi Coverage Based on Staked XRP, Staking Volume Surpasses 50 Million Tokens] According to a report by TheDefiant on October 7, as cited by Jinse Finance, the DeFi coverage protocol Firelight, built on the Flare network, has surpassed 50 million XRP in staking volume. Following several large deposits exceeding one million tokens, the platform has initiated its coverage (cover) services. Users can bridge XRP to FXRP via the FAssets bridge and stake it to receive stXRP, which can be used within the Flare ecosystem for trading, collateral, and liquidity pools. Firelight stated that its coverage layer will protect against losses from smart contract failures, cross-chain bridge attacks, and oracle errors. Citing data, the platform noted that DeFi-related theft and losses had already exceeded $137 million in the first quarter of 2026. The protocol has undergone audits by OpenZeppelin and Coinspect and has partnered with Sentora to design its coverage system, aiming to enable protocols to purchase coverage for various types of DeFi risks.