Sentora's Firelight Protocol Sees Deposit Cap Increase to 65 Million FXRP

Sentora's Firelight Protocol has seen significant growth since its launch, with the deposit cap being raised to 65 million FXRP. This increase in capacity is expected to attract more participants and further drive liquidity within the protocol.

The Firelight Protocol is a protection layer for digital assets, built on Sentora's risk infrastructure. It allows users to stake their XRP tokens, which are then used to purchase coverage against various DeFi risks. The protocol's unique approach to underwriting cover at the protocol level, rather than just by asset class or risk category, provides it with a structural advantage in the market.

The Total Value Covered (TVC) metric is a new benchmark being introduced by Sentora, which measures the value protected by programmatic cover. This metric aims to fill the gap left by the current TVL metric, which only measures deposited capital without considering protection. The Firelight Protocol is expected to play a key role in establishing this new metric.