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Injective x XRPL EVM: Bringing XRP to High-Speed DeFi⚡️
Recorded: July 11, 2025 Duration: 0:49:39Space Recording
Short Summary
In a groundbreaking collaboration, Pearsist, Injective, and Ripple are launching a new project that integrates XRP into the DeFi ecosystem, unlocking innovative trading and yield opportunities. The partnership aims to enhance XRP's utility beyond traditional remittances, positioning it as a key player in decentralized finance.
Full Transcription
Thank you. Thank you. All right.
Hello, hello, everybody.
Hello, Mirza. Can you hear me?
Yeah, I can. How's it going?
All good, thanks. It's great to have you here in this space on a Friday, co-hosted with Persis, Injective, Ripple. Very exciting for our conversation.
Same here, same here. Ever since we started chatting about this integration
um i've been looking very much forward to this yeah same here let's get started so we can make uh the best use of the time um so first of all i want to say hello to everyone um thanks for joining
to another x space uh what a best way to finish a week,
to join into this exciting space with Injective,
called Bringing XRP to High-Speak DeFi.
I'm Farhan, the CEO of Pearsist,
and I'm thrilled today to be joined by Mirza,
head of business at Injective Labs,
a pioneer in building fast,
interpretable, modular DeFi infrastructure. Today, in this discussion, we will explore how
Injective is helping bring XRP into the DeFi world through the deep integration they've done
with the XRP LBM that unlocks new trading and liquidity opportunities across its ecosystem.
Especially on Alex, we will talk about that, which is one of the fastest on chain order book decks.
So yeah, first of all, I want to say hello to our guest Mirza.
And Mirza, if you want to make an intro about yourself.
Good thing. That was a great segue.
So hey, everyone, I'm Mirza. I run the business team
here at Injective. I've been here for five years. And yeah, I can explain sort of Injective on a
high level for you guys. So Injective, as Farhan correctly mentioned, is a blockchain that focuses
primarily on DeFi and finance. What makes this really special,
in my opinion, is we have an infrastructure stack where you can plug and play many things together
to build your apps. So if you guys have ever used a website builder like Wix.com or WordPress.com
to build your own website, that was sort of our thesis when we were building Injective,
where we said, hey, what if people didn't have to spend
months or years to build their application? What if we gave them the templates like an on-chain
order book or a lending module or an RWA module so they can quickly build their app, right?
So imagine that you wanted to come and say, hey, I want to build an app for trading gold on-chain or trading oil on-chain,
you can quickly take a number of Injective templates or modules together.
So let's say the Oracle module or the Orderbook module and the RWA module
and launch your app in less than a day.
So it just reduces the time to market for you to launch your application.
Injective has been live on mainnet for four
years now. And a big thesis was we want to be a chain that accepts every major asset.
XRP is of course one of the biggest assets in the world, one of the most well-loved by
community members globally. So it was always in our interest to bring assets like XRP into the fold, because
we already had many other assets like Ethereum and Solana, et cetera, already integrated.
So yeah, this initiative was mainly undertaken to say, hey, XRP is the market leader in payments
and remittances. And they're basically the Swift of the on-chain economy. So how can we bring this sort of asset into the world of DeFi?
So now by having XRP on Injective,
you can use it in lending protocols
to earn yield against XRP.
You can trade it on apps like Helix
where you have 24-7 trading,
fully on-chain, fully overbook.
So for anyone who's not with an order book you'd probably
so if you ever use point base for buying after another exchange it's all in order book but it
doesn't really exist on chain um not in a decentralized way so by by doing this you can
now trade xrp the same way you can trade it on Binance, but with no gas fees, lightning fast speeds,
and with your own MetaMask wallet where you can be anonymous and no one has to know who
you are without any KYC.
So that's really the beauty of it, about how we bring more DeFi functionality to XRP with
this integration.
But I'm sure we'll get into this more during this space.
Amazing, Mirza.
Yeah, I think that's fantastic.
We are seeing a momentum here from the XRPL community,
which I think personally it's very exciting because as you mentioned, still a lot of people
it's thinking of XRP on XRPL as more of a kind of a banking product
and remittances and SWIFT and like the Ripple payments essentially.
But way beyond Ripple, XRP is the native asset of the XRP ledger
and the XRP ledger is also a ledger that has been live for,
I think, more than 12 years now.
It has a lot of very interesting built-in features.
So there is some stuff going on there.
But yeah, we all had this feeling that when it turns to DeFi,
maybe the lack of interoperability
and sufficiently customizable programmability
did get us a little bit apart of some of the protocols
that we've seen rising in the other
ecosystems, right? And now with the launch of the XRP-LEBM, this comes together with the launch of
Axelar, which essentially it's now the interoperability layer. And now we have essentially the option to
port XRP everywhere else so we can see xrp participating in defy and being used everywhere
else but at the same time also we have this new programmability layer which is the xrp levm
which allows to have our own ecosystem of ebm compatible defy and yeah opportunities are you
know garing bigger and bigger and more interesting here and there and i think you guys have been a good pioneer
of one of these use cases of bridging xrp outside and and being used in other advanced defy ecosystems
like injective right so i want to talk a little bit more about uh elix because you've been um
mentioning right now and uh it's one of your flagship products if i as far as i'm concerned
right now and it's one of your flagship products if I as far as I'm concerned so maybe you know I've
been testing a little bit the user experience of you've mentioned it feels closer to a centralized
exchange than a typical Dex so maybe can you tell us how Alex works under the hood and how it
benefits from injective infrastructure yeah sure thing and's correct. Helix is pretty much our
flagship app. And also it showcases sort of injectives infrastructure abilities, right? The
capabilities of the infrastructure stack that we built. There's a couple components that go into
Helix. So the hardest one that many people don't know is the C-LOB, right? C-LOB has been getting a lot of
attention recently, but it basically means central limit order book. Effectively, when you go on
Coinbase or Binance, you know, if you open up your advanced trading screen, you can see the orders,
right, being matched. So you can see the buy side orders and the sell side orders.
That's, I'm oversimplifying it, but that's basically an
order book. That's how you can understand what an order book to be, where you basically take
buy orders and sell orders and match them together to execute a trade. Now, when you go on a typical
DEX, I'm sure many of you have probably used Uniswap or Jupyter or Radium. You don't see that.
Those are not order books. But basically,
that's basically using a different mathematical function to match orders. It doesn't work the
same way as order book. So without getting into the technical sort of nitty gritty, the reason why
order books are so important is because you effectively can get better prices. So when you
say, let's say you want to buy XRP
for $3, it will actually be executed at that price. You won't end up losing 5% or 6% due to
slippage or low liquidity environments, like it's typical on an AMM DEX. Secondly, with an order
book, you can have larger trades and more sophisticated traders come in. So it won't just be retail traders trading against each other, but you can actually onboard
real institutions. So imagine all the different institutions that have integrated XRP. They're
not really going to trade XRP on an AMM, right? They're going to trade on larger order books.
So that's really where Helix shines. What Helix basically did is say,
hey, order books are what the entire world of finance uses, but it's so complicated to get it
to be decentralized that no one has even tried it. So we spent about three years just building
this C-Lob that's fully decentralized, where you can place orders the same way as Binance or Coinbase. You can be anonymous and
the orders are matched completely on chain. So in no way can someone stop you from trading.
So for instance, when you go on Robinhood, and this was a big issue back in the day,
or even now, where every time some asset would start trading with lots of volume,
where every time some asset would start trading with lots of volume, like let's say GameStop,
Robinhood would often cease trading operations. They would often say,
hey, we're overcrowded or we can't allow for this trading, which really hurts retail investors
because that basically means a centralized authority can stop you from trading at any time.
On Helix, no one can do that. You can trade assets 24-7.
You can trade assets like the Robinhood stock or the Circle stock even on Helix.
So this order book capability, and secondly, the censorship resistance where no one can stop you
makes it very special. And thirdly, just the ability to have all different types of assets,
which I sort of already started to allude to. So let's say you want to trade Solana or ETH or XRP, you can have all of those assets on Helix.
So some of the biggest assets from different chains and different ledgers. But on top of that,
you can also have interesting RWA products like on-chain gold and on-chain oil and the S&P 500, you can trade RWA assets like that on Helix as well.
So our goal at Helix is basically to say, not only should every crypto investor be able to
trade every crypto asset with no fees and the fastest speeds, but you should be able to trade
any product, whether it be tokenized stocks or tokenized real estate um so that's kind
of the broader vision um i feel it's and what we want to do as well and what we're actually already
doing and have achieved that's amazing i totally uh share this vision i think when we talk about
decentralized finance we shall not limit
ourselves if we really want to decentralize finance to just swap or trade crypto assets
against others or like stable coins, for example, wasn't like directly per share crypto asset. But
with the stable coins, we've seen the rise and the possibility of all this DeFi coming. And I think if we want to push a vision and push a new wall
where people can freely manage their finances,
they should be able to trade in a decentralized way
or the much decentralized way as possible all their portfolio.
And obviously, a lot of people, especially here,
will have big bags of crypto in their portfolio. And obviously a lot of people, especially here, will have big bags of crypto
on their portfolio.
But also if you want to also manage
a more distributed portfolio,
we'll probably be interested
in having exposure to oil
or to stocks or to other assets, right?
That are not necessarily crypto assets itself.
And still, if you just have the crypto,
but if you go to your, you know,
broker and you have to do all this KYC and bring or trade the other part of your portfolio there,
your exposure to decentralized finance per se, it's, you know, to the proportion of the crypto
assets you hold, but not to the proportion of your portfolio. So I think these things are very
interesting. And it really helps push this vision of really
free decentralized finance for everyone.
And here I want to maybe transition a little bit on how this colludes with XRP and with
the XRP-LEBM, because as you know, we've launched the XRP-LEBM sidechain about two weeks ago,
and we are Ripple and Pierces.
We are very excited about this.
And you guys have been one of the first to make full integration.
As far as I'm concerned right now, you are one of the ones, the biggest holders of XRP
thanks to the EVM sidechain, your ecosystem.
So let's talk about this a little bit maybe um you you you can
tell us why injective uh show these early interest uh in integrating with the xrp lbm what
opportunities you've seen and even broader than that uh how do you see the potential to connecting
the injective ecosystem with the xrp army or the XRP ledger ecosystem?
All great questions. So first and foremost, I think the interest really stemmed from the fact
that XRP is one of the most OG and most widely available assets worldwide. The issue we had,
and this is what we've been thinking about forever, So how do we get assets like XRP onto Injective? There
wasn't really a route. And that's what XPRL really changed, right? That's what you guys sort of built.
And that's what's so innovative about this, where for the first time, we're able to connect
seamlessly with XRP and the ledger itself. So that route didn't exist before, but there was
ample interest, both because a lot of our team members also are big XRP holders.
That's how they got into crypto when they got in like 10 years ago.
XRP was one of the only assets that really existed in crypto.
But secondly, the routes didn't exist.
So that was really the reasoning behind why we wanted the asset.
The second part of it is really to enable new functionality for the asset because XRP is a very versatile asset, but I think a lot of those
abilities were being restricted by not being able to sort of be utilized across other chains.
So for instance, like we mentioned before, XRP is widely used by banks and remittance networks,
but it lacked sort of that interoperability component, which you guys
helped to fix, XPRL fixed with your sidechain. With that, you can now enable lots of new
functionalities for the token itself, which gives new users new types of exposure because a lot of
native, what Injective shines in is having lots of native DeFi users. So we're not necessarily
focused on payments or remittances,
we're focused on traders and people who want to trade professional products or people who want to
lend out assets and earn yield on them. And those are some of the functionalities we sought to
enable by bringing XRP to Injective. And that's what you already have started to see. And that's
what our user base has also resonated with. And that's why, like you correctly mentioned, Injective is basically the largest chain for XRP outside of XRP right now, probably.
So that, and that goes to show that there is so much latent demand because XRP is worth like $100
billion. And it's been able to achieve that without a lot of DeFi functionality already embedded.
But by having this DeFi functionality, you can really utilize this asset in much better ways
where you could potentially earn yield instead of just having it lie idle. You could, of course,
continue to use XRP Ledger for payments or remittances, but you can also sort of use it
for trading or use it as collateral
when you trade perpetual products. And the sky's really the limit when you start to enable this
functionality. Yeah, I hope that sort of answers your question. Not sure if I missed anything there.
No, yeah, finally, you answered the question very well. And I think,
You answered the question very well.
And I think, you know, just wanted to tap in here before I forget,
because also I think a lot of people in the audience
where it's like a lot of new information, they may have some questions.
So just if you have any question for Mirza or for us,
put it in the comments here of the space.
And if we have some time at the end, we'll try to address that.
But yeah, just wanted to make this comment
because then I just forget on this interesting conversation.
But I wanted to follow up with all that you mentioned
because I think you tap into very interesting things, right?
I think XRP has managed to grow a lot without direct, let's say, locking in DeFi or a lot of on-chain utility outside the XRP ledger.
And I think it's a very good opportunity now to see how this changes with all these protocols and integrations like ELEX or like Inive that that we can see and a very interesting opportunity here
is how to onboard people properly because as far as I'm concerned a very large part of the XRP's
are still hold it in centralized exchanges so essentially it's people that just want to have
exposure to XRP and they buy in Coinbase or Binance, wherever, and they just hold XRP there.
So without effectively making any yield on top of it and without participating in on-chain use cases, which all the ecosystems want to do because it's very healthy and wealthy for the builders and for the dabs and for people that
helps create and evolve the ecosystem right so now i think with the interoperability and with
programmability these opportunities to participate on chain are much better than just hold on exchange
so it's that's a good reason to start looking into it. But still, I think onboarding is one of the most important points we need to solve.
Right now, two weeks after launch, we still need to, you know,
sit enough liquidity in all the routes and swaps and everything
to make it in one click people being able to get their XRP on Elix
or any place on Injective, for example.
So this is going to be improved over the time
but i wanted to ask like just right now or or today how people can get uh to alex right let's
think we are talking about someone that has xrp on exchange or has xrp on the xrp ledger
what are the steps they need to do in order to bridge XRP to Injective?
Or if they have any other crypto and they want to participate within this XRP file Injective,
how they can get to the chain, how many hops and bridges and applications they need to use
to be able to start using XRP on Alex? Yeah, that's a good question. So I think the process is quite simple on Injective
compared to many other chains,
but we're obviously still working
to abstract away more processes.
The easiest way to do it
is just visit hub.injective.network.
So that's basically the Injective hub.
You can also Google the word Injective hub.
If you go to it, there's a page called bridge.
Simply by connecting your MetaMask wallet,
you'll be able to see the bridge
and also the functionalities it provides.
If you have XRP on an exchange,
you'd obviously have to withdraw that XRP
to your XRP ledger.
And then by going to the bridge,
you'll be able to see that,
hey, this side chain exists,
the XPRL side chain,
and we can transfer directly
from the XPRL side chain
to the Injective network
in literally a second with IBC.
IBC is sort of the bridging infrastructure
that XPRL and Injective
have spun up between them.
So not the easiest process still in my honest opinion,
but put simply, Google Injective Hub,
withdraw your XRP to your ledger,
and then transfer it to the XPRL sidechain,
and then you basically click to bridge.
Now, what we're working on is a one-click process,
and this requires the exchanges to cooperate with us um
which is a little harder but a a perfect world which i imagine will take a couple years for the
exchanges to catch up on is you can withdraw directly from um exchanges to the xpRL sidechain
so that way you can immediately just click once and then have it available on injective and then
you can use it for lending and you canjective. And then you can use it
for lending and you can use it for trading and you can use it for all the other functionalities.
So that will take some time. The other route, and this might be easier for many of you, is
if you want to just access XRP directly, instead of having to go to a SACS, you can just go to helixapp.com or the hub or anything, click
connect wallet. If you have any assets on on chain, so let's see if some ETH on chain,
or you have some USDT on chain, you can just get your XRP directly through Helix at the same prices
as Coinbase or anyone else, just to test out the flow. Like, hey, I can get XRP here and let me
test out all the functionality.
And that way you can avoid doing any of those exchange hops if that's complicated for you, or if you've never done exchange hops before.
So those are the two ways you can do it.
So one is from starting from a SACS and one is starting from the DEX, if you happen to have some assets on chain already.
to have some assets on chain already.
So those are the two processes currently.
So those are the two processes currently.
Yeah, I agree.
And I think there's an additional step
if you are on the XRP ledger, like the mainnet,
not the EVM sidechain,
you still need to use a Squid router.
So you bridge your XRP from the XRP mainnet
to the sidechain and then on the sidechain,
probably you can go to the bridge of ELEX
and then this is what it goes through IBC, right?
So it's like two hop bridges.
Correct.
Um, I think we are, all these things are going to do.
We're working with skip right now to make that one hop ideally.
So you don't have to do two hops, but yeah, that's, that's also correct.
Yeah.
Okay.
I see.
That's fantastic.
Yeah.
I mean, with the squid, uh, you can just get xrps on mainnet and then
it bridges through axler to the site and then makes the abc to uh to injective so we are working on all these things um also i think um solver networks are very interesting to me uh because
i do think like people should not be bridging uh it's uh it's not a user experience designed for that. I think people should be able to just do
intents or provide intentions or prompts to swap. And then there will be a network of solvers that
has to provide the liquidity everywhere it's needed. And then at the end of the day, they can
use the bridges behind the scenes to, you know, make sure the liquidity is balanced everywhere.
I think we are getting there.
I think Squid has a protocol called Coral, which is a software network and soon will be liquid.
So then we'll be able to facilitate all these things.
But meanwhile, it's essentially if you are on the XRP ledger and you want to go and use Alex and you just have
XRP on the mainnet, you bridge with the squid to the sidechain and then you can go to the Alex
bridge and then get the XRPs into Alex. So that's like two steps which are not very complicated,
but obviously it's like different apps that you need to use. Okay, and yeah, let's talk to the next thing, right?
So let's suppose that people here, they all try it.
I hope they do.
They bridge XRP, they made it to Elix.
What they can do with that when they are live on Injective,
on Elix, how they can make some yield, what they can do.
They can provide liquidity, trade XRP.
They can do perpetuals, how they can participate in DeFi in a sense.
What are the incentives that the Injective ecosystem is bringing to all these people from the XRP ledger
or to the centralized exchange people that encourages them to go through these steps in order to use Elix or Injective.
Yes, so there's a number of different incentives embedded onto the chain itself. So the easiest
one to understand is we have a program that distributes rewards every single month on top
of Helix called the Open Liquidity Program. The easy way to understand it is as long as you trade XRP
or any asset on Helix, you will get some rewards at the end of the month. And typically the rewards
are actually quite good. You can yield anywhere from 10 to 15% just by trading, which is quite
good. And this is on top of you not having to pay any real fees. So on Injective, if you help make any orders on Helix, if you go and
make an order, there's actually a fee rebate. So you end up actually getting a rebate when you
trade or when you help provide liquidity or help make an order. Secondly, there's other initiatives
on the chain itself. So for instance, if you just yap about an objective,
there's rewards that are given away via Kaido.
If you want to earn yield via different platforms,
there are protocols like Neptune where you can earn yield.
Neptune, for instance, is a lending protocol
where as long as you lend out an asset
or if you're holding an asset, you lock it up, and you're basically earning passive yield there. So lots of different yield
or incentive opportunities are embedded onto the chain. So if you're holding XRP in an idle way,
I think it's much smarter to sort of engage with DeFi, because there's a lot of latent demand and latent yield that is not necessarily utilized by everyone, right?
So the sooner you get on, the more yield you can earn
because over time it gets arbed out.
So the sooner you sort of engage with new products
like XRP launching with DeFi capabilities,
the sooner you can start to earn that yield.
I see that. That sounds very interesting.
I think everyone here should, or I encourage everyone to just, you know, give it a try.
I don't know if there's a test net environment available or just with always small amounts first.
Get there, make sure like all the bridging and everything uh it's it works
properly and start contributing i've been trying to encourage um xrp holders uh to uh be part of
that because for a long time we've been you know complaining a lot and saying hey we want defy and
we want this and we want that uh but in order to have a successful defy uh we need to participate
right and now we
have these options available so if people just stay with their assets in the exchange or they
don't uh participate on that these ecosystems are not going to grow or there will not be enough
liquidity and i think these these things are not going to be beneficial so now that we have this
opportunity window at least that i hope it lasts for a long time, we should make the best use of it.
So then, you know, apps like Helix or Injective see more value out of it and they double bet on that and they prioritize these products. opportunities for both XRP holders and for people outside the XRP Ledger community that find these
XRP products interesting and potentially they can become part of our team sooner or later.
So I think that's very interesting. And one point you mentioned before we move on to the next
question that I want to double click on is if you guys are worried that you have to spend money,
a great way to get started actually is on the Injective testnet,
which went live a week ago.
You can see it on the space.
If you click on the Injective icon in the bio,
you'll see multivm.injective.com.
So basically that's our testnet,
which requires no funds to get started.
So if you want to just test out the capabilities
of Injective and see, hey, here's how I can earn yield. Here's how I can start engaging with the
NFT community. Here's how I can start engaging with more payment networks, et cetera. That's
an easy way to get started. That requires no money at all, no money to be bridged or anything.
So I encourage you guys to maybe even get started with the test set, just to realize the potential of what you can start doing with your money and your assets on
chain. Yeah, I agree. So open invitation for everyone. I will make sure to give it a second
try also after this call. And I hope we all together make this system much more vibrant and
obviously injective is already very well positioned but still the liquidity and the assets
that are there compared to the xrp ledger size and the community size it's super super super
small so we need to uh encourage people and give it a try because I think it may be an interesting opportunity.
And I just wanted to finish also with talking about ecosystems.
I don't know if you guys had a lot of time to engage with the XRP Ledger community.
We are not also very familiar with the injective community.
How do you see these two communities collide?
Do you think there will be opportunities
for people from injective to,
maybe if they get exposure to XRP
to come to the XRP Ledger mainnet,
see what's going on there
or same for the XRP Ledger members
that may discover new communities
and things on injective.
How do you see this marriage of communities and how you experienced it in the past,
for example, with other communities that were a little bit more isolated
when these integrations happened?
I actually think there's a lot more synergies between the two communities
than one would think immediately.
I think on a high level, it just comes down to focus and vision.
So Injective on a high level focuses primarily on bringing
decentralized and on-chain finance to the masses.
And XRP believes in bringing a decentralized SWIFT network
or a more equitable payments network to the world.
So I think on a high level, the community members...
Sorry about that.
On a high level, I think all community members
are sort of behind this broader vision.
And I think fundamentally the two ledgers,
the Injective Ledger and the XRP Ledger,
provide different benefits.
So I totally encourage both communities to check out both ledgers
because XRP is a market leader when it comes to payments and remittances
and is working with some of the largest banks.
And Injective sort of takes that even further with DeFi
where you have lending and trading and perp trading,
which you don't necessarily find on the XRP ledger today. So I think there's
a lot of interesting synergies that both communities can unlock just by just talking
with one another and engaging. That's my biggest riper issue with crypto where every community
becomes sort of like a cult where they're so siloed that they don't realize that, hey, we're
all kind of on the same team and we're
all against sort of, we're trying to change the economy. We're trying to change how the banking
system or the financial system works. So if we realize that, we'll come to the conclusion that
many of the large projects and reputable projects, whether it be XRP or Injective,
are sort of working towards this larger vision. And the more synergies and the more collaboration we can have between one
another, the further we can all go rather than continuing to be siloed.
And that's what this integration represents with XRPRL, in my opinion,
where it's more than just a bridge or a side chain.
It's just a way for two different communities and two different ecosystems and ledgers
to finally be interoperable and open to one another
so all the communities can engage
and communicate with one another more seamlessly.
Yeah, I agree, Mirza.
I think this is like part of this bigger vision
that Interoperability is trying to provide, right?
I do see also that very parallel
to the early days of internet, that, you know, instead of having like different islands, we
should get into a point where all the blockchains together are part of some kind of supercomputer,
that it's fully chain abstracted, that it's fully interconnected, that there is an infrastructure of solvers
and people that it's going to take care of all these, you know, connections, liquidity,
et cetera.
But essentially, people will just use decentralized finance in a very accessible way, swapping,
bridging, investing, trading, doing all the things that they want with these assets and
other assets
in a market or in economy open 24 7 without barriers and behind the scenes the different
protocols will interact and will make all the connections needed in order to in order to do
that but this is not longer like a competition and even if you believe that i think the the
market it's clearly positioned for that even if you want to be I think the market is clearly positioned for that.
Even if you want to be your own Iceland or your own ecosystem, you are not getting anywhere because you are not connected.
You don't have the rest of the assets and people essentially want to want to have that.
Right. So I think it's it's mandatory today.
Acknowledge that we live in a multi-chain world, that everyone is taking its place and its role
in providing certain infrastructure, liquidity, etc., on all these parts. And eventually we'll
get to a point, and I think we are not that far away, I think it's maybe a few years, but
I feel that you can start today getting, connecting with your Google account or
wherever other authentication mechanism,
having an address that helps you connect everywhere, signing messages,
and interact with all the assets without even knowing exactly what protocol it's using behind the scenes.
And I think that's magic and where we will have the real mass adoption,
like the last step of mass adoption.
So, yeah um very interesting uh i think we had a great conversation
i'm sure people in the audience probably have a lot to say as well now it's the turn guys if you
want to add some comments uh here in these uh spaces i will be reading some of the posts and
i will be selecting a few questions for Mirza or for us as your preference.
So if you just want to drop some messages here, some comments, we will check them.
I will get started with Vichyswag, who is asking what is distinguishing Injective DeFi from EVM DeFi.
Is the question, can you repeat it?
So basically, how is this EVM DeFi different?
How is traditional EVM DeFi different from XRP's EVM DeFi?
No, I think they are asking what are the differences between the defy that
one can find in injective versus the defy that one can find in other ethereum or ebm uh chains
oh yeah this is really easy so um on on a high level you have the some of the similar stuff
that you're used to right um So whether it be lending or trading,
et cetera, it really comes down to efficiency and liquidity. So for instance, when you go on to Injective, you'll be able to access more assets than other DeFi networks. On other DeFi
networks, you can't access things like tokenized stocks or tokenized commodities. You can do that
on Injective right now. Secondly, you can come and create any asset or market of your choice.
So let's say you really like, I don't know, the circle stock.
And let's just assume for a moment it doesn't exist on Injective.
You can come and create that market in under a few minutes on top of Injective.
So it just gives you way more
flexibility to trade the assets you want, to access the assets you want, and also to earn the yield
you want. Thirdly, on other EVM chains or other chains in general, you're typically restricted to
assets from that chain. For instance, today you can go on Arbitrum or Ethereum and you'll primarily
have access to assets from that ecosystem.
On Injective, we make interoperability a huge, huge focus.
So on Injective, you can access XRP, and you can access ETH, and you can access Solana,
and you can access assets from any other L1 or L2 on top of Injective.
So that makes it also more special.
So it's an all-in-one platform, just like how when you go to Binance or
Coinbase, you don't have to create... Imagine how absurd it would be if you had to create a different
Coinbase account based on the chain you were using. So let's say you wanted to trade SRP,
you have to create a different account. But that's how chains work today. You can pretty
much only access assets from that chain if you're on that chain. But Injective simplifies that
process and says, no, you should be able to access all the assets here and everything you want.
And fourth, Injective, in my opinion, is far more innovative than other chains. And a lot of this
is beholden to the C-Lobbler that we built, the native decentralized order book, where you just
have way more institutional liquidity. So if you want to get a trade across or you want to lend out
assets, you just have more liquidity than on other chains for even esoteric or exotic assets like
meme coins or different RWAs. Yeah, I think those are just some of the highlights. But
I, again, encourage all of you guys to try out the test set and just see. Because the last remaining component that makes Injective really special is it has multiple
virtual machines.
So it has both a WebAssembly virtual machine and also an EVM virtual machine now.
So anything you can do in the world of EVM or Cosmos or any other network you can do
on Injective, you can find those types of apps.
So you can find popular apps
similar to curve on the interactive evm and you can also find popular apps popular in the wasm
world that you might have been used to um from uh your days in hyperliquid or your days back in tara
you can find it all under one roof and one umbrella on Injective.
you can find it all under one roof and one umbrella on injective
Amazing.
I'm trying to find more questions here.
I think there's a lot now dropping, and each one is more complex.
Let me read a little bit here.
So far, why should we open?
What difference will make it in terms of okay so um here we have
a question from best man um he says that uh he's a noob uh but um why people that has xrp uh in
wallets or exchanges uh should adopt um these new opportunities for xRPL and what is the difference in terms of gains?
I think you've mentioned a few of that, Mircea,
but maybe you can talk a little bit more
about how people can make some gains or yields
using XRPL injective.
And I don't know if you also can talk a little bit
about some of the APRs or yield returns
that you're seeing right now.
Yeah, of course.
So I always have to be careful about how much I can talk about returns because that's always
like legally something I'm not allowed to talk about.
But I'll give you guys like a very easy example to understand the capabilities of Injective
and why you should engage.
So let's say you're holding XRP today and XRP is trading at $3.
And let's say XRP goes to $6, which is great. You made a hundred percent return or profit. But what DeFi can enable you
to do and what DeFi on Injective can enable you to do is get more back than just that.
So for instance, instead of just holding XRP, you could have lent it out or
used it as collateral. So you could have juiced up that yield further. So by the time it goes to $6,
you've also netted, let's say, a 20% APY over that year by lending out that asset or by earning
rewards from the open liquidity program on Helix. It is a way to boost your returns and yield.
And also for you to engage in the broader on-chain economy, because I think if you are
just a holder of an asset, you're not really utilizing the true potential of crypto.
And that's what I think a lot of people are missing.
And that's why DeFi users in general are so far ahead of the curve and always ahead of the news. Because if you
are just holding your XRP on a Coinbase wallet or your Binance wallet, the only person that's
profiting is that exchange. That exchange can decide to not let you withdraw your funds. It's
happened to many of my friends. So by you entering the on-chain economy, you have ownership over your
assets where no one can ever take your money away. And also you have access to new yield opportunities,
whether it be through lending or using the asset as collateral or being able to trade perps.
I think that is really the beauty of DeFi. And it's gotten a lot easier than it was back in
2020 or 2021, where in 2020, it was unimaginable that XRP could be used on a platform
like Injective because the rails or routes just didn't exist. And the DeFi economy was so small,
but now it's gotten to be worth tens of billions of dollars, where you have trading and lending
and prediction markets in so many ways, you can make your assets go further.
So I think you're doing yourself a disservice if you're not at least engaging with the on-chain
economy and seeing how you can maximize your returns and also maximize your freedom, honestly,
by engaging on-chain rather than just keeping all your assets on exchanges.
Yeah, very interesting.
And also, I think the same applies other way around. So
this is not just about encouraging people to get their XRPs outside the XRP ledger and
try it here and there, but also the bridge applies for all the assets, right? So I think
one of the important parts for the XRP ledger is that, for example, the XRP Ledger has the first DEX and also it's native to the protocol.
So it's a fantastic infrastructure combined with all the rest of the institutional DeFi features that the XRP Ledger has.
I think it's one of the most advanced right now in this field. But one of the things we were missing due to interoperability issues is that we have
very few assets, right?
We have XRP, we had real USD, and we had very few other blue chip assets that are available
on the DEX.
And you can have the best DEX in the world, but if you can just trade XRP for XRP, you
are not going to make a lot of DeFi, right?
So you need other assets that are valuable and that are blue chip to be parted in this
ecosystem.
And I think through bridging, not only for Injective, but essentially from any other
chain, which is EBM compatible or which is Cosmos compatible through ABC.
We have now also the opportunity to get part of these assets and bridge it to the actual Pillarger ecosystem
and make the best use and unlock the full potential
of these institutional DeFi features
by trading it with much more assets and much more products
that were unable or unavailable right before that.
So I think that will work in both ways.
I think this is the magic of interpretability and connections.
So people can use maybe more programmable EBM or protocols like Injective,
but also these assets can be used in institutional DeFi features and built-in protocols like the XRP ledger, which has a very differentiated proposal also for the ecosystem.
And yeah, I think with that, we will bring this to the end.
First of all, I wanted to to thank you everyone who joined today
we had a lot of people here uh so huge thanks uh to everyone who joined it huge thanks to mirza
for joining us uh i think you explained it pretty well uh all the importance and all the things that
injective analytics can offer uh to the xr Ledger community. I just want to remind everyone that this is just the beginning of a powerful synergy
between the XRP Ledger, the XRP LEBM with other ecosystems such as Injective.
And here at Peercyst, we are incredibly excited to help bridge these ecosystems together.
So make sure to follow everyone, Injective, persist ripple x and let's try to bring xrp into
the future of defy together thank you mirza if you want to say your last words to the audience
no i really appreciate you guys having me it's it's been a great chat and excited to see
what both xrp and and interactive communities do together moving forward.
