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

XAO DAO co-founder Santiago Velez announced that proposal 66 had passed, authorizing the decentralized autonomous organization to deploy 80% of its XRP treasury into Firelight, a DeFi protocol focused on decentralized insurance and yield. The decision would put a large share of the DAO’s XRP holdings to work in a strategy intended to generate returns for members while contributing capital to protection services for decentralized finance. XAO DAO Vote Approves XRP Deployment to Firelight In his announcement, Velez described the proposal as, to his knowledge, the first time a DAO had deployed treasury funds into a multichain DeFi strategy combining decentralized insurance with yield generation.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CryptoPotato.