Firelight raised $8 million led by Gumi Cryptos Capital to launch cover for DeFi vaults backed by staked XRP on Flare, with first integrations due in September.

The protocol aims to give fintechs and investors a faster way to recover losses from DeFi hacks, while letting XRP, bitcoin and XLM holders earn yield by backing that protection.

Firelight raised $8 million led by Gumi Cryptos Capital to launch cover for DeFi vaults backed by staked XRP on Flare, with first integrations due in September.