80% of XAO DAO’s XRP Treasury Set for Firelight Deployment

Santiago Velez, co-founder of XAO DAO, said the organization approved proposal 66, allowing it to commit 80% of its XRP treasury to Firelight, a DeFi protocol centered on decentralized insurance and yield. The strategy is meant to produce returns for members while providing capital for DeFi protection services. XRP would reach Firelight through Flare Smart Accounts, which give XRP holders a way to use DeFi applications. Velez credited co-manager Fabio Marzella, Flare Networks co-founder Hugo Philion and the Flare team with developing that technology, and Firelight for the opportunity. The vote comes amid XAO DAO governance changes that include a community forum and an updated governance app with proposal and discussion tools.