Add stXRP feed to FTSO on Flare
Flare Foundation Proposal to the Infrastructure Provider Management Group (MG) to add a new Custom Price Feed to the existing set of feeds on Flare
stXRP/USD
Background:
With the recent adoption of FIP.13 / STP.10, FTSO now supports “Custom Feeds” — enabling price feeds not only for standard traded assets, but also for tokens whose value is derived via on-chain logic (e.g. liquid-staked tokens, restaked tokens, or wrapped / derivative tokens). The first Custom Feed implemented under this framework was for sFLR — with price determined by combining the FLR/USD price (from FTSO) with a ratio from sFLR’s staking contract
As adoption of FXRP grows, there is clear demand for a reliable, on-chain USD price feed for stXRP to further enable XRPFi on Flare. This would unlock better DeFi integration for stXRP (collateralization, lending/borrowing, DEX support, yield-bearing strategies). As outlined in this request https://github.com/flare-foundation/developer-hub/issues/1061, we ask the MG to consider the proposal
Business Justification:
Collateralization & DeFi utility: The stXRP/USD feed improves the way stXRP can be used as collateral in lending/borrowing or other DeFi protocols on Flare — improving capital efficiency and attracting more users.
Accurate risk management: Having a decentralized, oracle-backed USD price feed ensures reliable liquidation mechanisms and fair valuations for stXRP-based assets.
Ecosystem growth & composability: stXRP becomes more composable — usable in DeFi, leveraged strategies, and composable products — increasing demand and utility of FXRP on Flare-native protocols.
Consistency with governance precedent: Given that Custom Feeds were explicitly introduced to support liquid-staked tokens based on other assets and other non–CEX-listed or on-chain tokens, stXRP falls squarely within the intended use-case.
Risk Considerations & Mitigations:
- As outlined in FIP.13, Custom Feeds rely on the correctness of the underlying smart-contract logic rather than the general FTSO data-provider mechanism — meaning each feed’s risk must be individually assessed.
- For stXRP, this means the staking contract must be audited, secure, and stable
Ask:
The MG is requested to review and approve adding stXRP as a Custom Feed to FTSO — enabling an stXRP/USD feed via the mechanism defined in FIP.13/ STP.10
Process:
An official request posted in open forum on Discourse for MG members to voice their support or raise any concerns. The Flare Foundation will then initiate a transaction from the polling contract on Flare for MG members to cast on-chain votes either for or against adding stXRP feed to Flare. Voting is rejection based and would require 66% participation amongst all eligible MG members and more than 50% of the votes going against the proposal for it to be rejected. Otherwise, the Foundation will proceed with adding to h stXRP/USD pair on Flare sometime after the voting period expires.