SYNC
FLR—24H —SGB—24H —FLR TX · 24H—24H —SGB TX · 24H—24H —VALIDATORS—24H —FLR STAKED—24H —FXRP SUPPLY—24H —MINT UTIL—24H —PRODUCTIVE FLOOR—24H —TOTAL ASSETS—24H —FXRP SPOT—24H —FXRP SUPPLIED—24H —FXRP UTIL—24H —FXRP LOOK-THROUGH—24H —XRP COLLATERAL—24H —FXRP POOLS—24H —FXRP POOLS—24H —FLR CIRCULATING—24H —SGB CIRCULATING—24H —FLR BURNED—24H —SGB BURNED—24H —CAPITAL ACTIVATION SPREAD—24H —FLR USE FLOOR—24H —SGB USE FLOOR—24H —WALLET ALERTS · 24H—24H —LARGE TRANSFERS · 24H—24H —FLR WALLET PRESSURE—SGB WALLET PRESSURE—SMART ACCOUNT EVENTS · 24H—24H —NET FLOW · 24H—THIRD-PARTY XRPFi—24H —

FlareSignal · XRPFi Credit Intelligence

kinetic logoKinetic Lending Intelligence

Separate FXRP lending claims, actual market liquidity, borrowed/redeployed capital, stXRP derivative collateral and stablecoin debt inside Kinetic's official FXRP · USDT0 · stXRP isolated market.

PUBLIC SURFACE

CREDIT + CAPITAL SNAPSHOT

Kinetic At A Glance

Read the current lending market before moving into the deeper accounting sections below. Supply, borrowing, available cash, debt and rates stay separate so redeployed capital is not double counted.

PUBLIC CURRENT STATE
7.4%FXRP utilised
FXRP lending market20,323,034.59 FXRP supplied1,501,935.18 borrowed · 18,830,165.62 cash
Borrowed share of supplied claim7.4%0.74% borrow APR · 0.05% supply APR
A capital-efficiency view only. Borrowed FXRP may appear again downstream and is not additive TVL.
Stablecoin credit layer4,863,578.24 USDT0
USDT0 supplied 5,329,641.73 USDT0USDT0 utilisation 91.26%Borrow events · 24h 0.00
Market-level debt stays distinct from borrower-level XRP collateral attribution.
0.0%stXRP utilised
Firelight receipt lending27,178.01 stXRPReceipt-layer capital remains look-through XRP and creates no additional underlying XRP.

SIGNATURE CAPITAL MAP · LENDING

Capital State + Verified Credit Flow

Follow XRP-derived capital into Kinetic, then separate supplied claims, available market cash, borrowing and stablecoin debt. Structural rails explain the mechanism; only verified lending events are treated as observed flow.

VISUALFXRP iconFXRPkinetic logoKINETIC
XRPFi CAPITAL
UNDERLYINGXRPorigin capital
FXRP iconFXRP20,323,034.59 FXRPsupplied claim
kinetic logoKinetic7.4%current FXRP utilisation
CREDIT STATE
kinetic logoSupplied FXRP20,323,034.59 FXRPclaim on market assets
BORROWED1,501,935.18 FXRPredeployed credit
AVAILABLE CASH18,830,165.62 FXRPmarket contract liquidity
STABLECOIN CREDIT LAYER
USDT0 DEBT4,863,578.24 USDT0outstanding stablecoin debt
SUPPLY APR0.05%current lender rate
BORROW APR0.74%current borrower rate
Supply, borrow and cash are separate evidence states.Borrowed FXRP can be redeployed elsewhere and is not additive TVL.
kinetic logoFXRP Supplied ClaimSTALE
20,323,034.59token
kinetic logoFXRP BorrowedSTALE
1,501,935.18token
kinetic logoUSDT0 DebtSTALE
4,863,578.24token
kinetic logoLiquidations 24hSTALE
0.00count

VERIFIED LENDER ECONOMICS

Base Interest Generated vs Current Rate

The current supply APR describes the live market rate. Historical accounting separately measures cumulative borrower-paid FXRP base interest from verified lending activity.

NO INCENTIVE BLENDING
Attributed FXRP base interest496,365.510944 FXRPcumulative attributed output
Current FXRP supply APR0.05%current on-chain rate · not converted into historical earnings
Morpho/Mystic FXRP gross interest0.000064 FXRPexact gross borrower interest · supplier-net attribution remains separate

kinetic logoFXRP lending market

Supply Claim vs Available Cash

COMPOUND-STYLE ACCOUNTING
FXRP iconSupplied claim20,323,034.59 FXRPcash + borrows - reserves
FXRP iconMarket cash18,830,165.62 FXRPactual FXRP held by market contract
FXRP iconBorrowed out1,501,935.18 FXRPcan be redeployed elsewhere
FXRP iconFXRP utilisation7.39%
Supply APR0.05%
Borrow APR0.74%

kinetic logoCredit creation

USDT0 Debt in XRPFi Market

4,863,578.24 USDT0stablecoin debt outstanding inside the isolated FXRP / stXRP market
USDT0 supplied5,329,641.73 USDT0
USDT0 utilisation91.26%
USDT0 borrow APR11.53%
Borrow events 24h0.00

This is market-level stablecoin debt. FlareSignal does not claim every USDT0 borrow is backed specifically by FXRP because the isolated market also supports stXRP and the borrower-level collateral mix must be reconstructed before making that attribution.

Capital multiplicity

Why Lending Cannot Be Added Like TVL

DOUBLE-COUNT SAFE
DepositorFXRP iconFXRPsupplied into Kinetic
→
Lending claim20,323,034.59 FXRPproductive financial claim
↘
Cash18,830,165.62 FXRPstill physically in Kinetic
Borrowed1,501,935.18 FXRPmay reappear downstream

The supplied claim is economically productive, but if borrowed FXRP later appears in SparkDEX or another protocol, adding both figures would count the same underlying twice. FlareSignal therefore stores the lending claim and debt separately; only market cash is a current unique FXRP location.

Firelight receipt lending

kinetic logostXRP in Kinetic

stXRP iconstXRP supplied claim27,178.01 stXRP
stXRP iconstXRP market cash27,178.01 stXRP
stXRP iconstXRP borrowed0.00 stXRP
FXRP iconFXRP look-through27,179.94 FXRP

stXRP is already a Firelight receipt. Its FXRP backing is useful for look-through analysis but contributes zero additional underlying XRP to FlareSignal's totals.

Risk activity

Borrow / Repay / Liquidation

Borrow events 24h0.00
Repay events 24h0.00
Liquidations 24h0.00
stXRP utilisation0.00%

Credit state history

kinetic logoFXRP Supply / Borrow + USDT0 Debt

Verified Kinetic market snapshots only. FlareSignal does not fabricate a trend while history is still accumulating.

DRAG TO INSPECT
—FXRP supplied —FXRP borrowed —USDT0 debt —
FXRP suppliedFXRP borrowedUSDT0 debt

Market state

kinetic logoKinetic XRPFi Isolated Markets

AssetSuppliedCashBorrowedUtilisationSupply APRBorrow APRCollateral factorBorrow capSupply capListedContract
FXRP iconFXRP — — — — — — 70.00% 3,000,000.00 — ✓ Yes View market
stXRP iconstXRP — — — — — — 0.00% 0.00 — ✓ Yes View market
USDT0 — — — — — — 80.00% 5,000,000.00 — ✓ Yes View market

On-chain lending activity

kinetic logoRecent Kinetic Events

EventAssetTimeAmountBorrower / ActorLiquidatorBlockTransaction
BorrowFXRP2026-09-01 23:37:114,495.752792 FXRP0x7f287b58…eeb097—68806387View transaction
RedeemUSDT02026-09-01 23:37:095,633.786538 USDT00x7f287b58…eeb097—68806385View transaction
RepayFXRP2026-09-01 23:37:072,545.912051 FXRP0x7f287b58…eeb097—68806383View transaction
RepayFXRP2026-09-01 23:37:048,188.544509 FXRP0x7f287b58…eeb097—68806380View transaction
BorrowFXRP2026-09-01 23:36:503,285.096731 FXRP0x7f287b58…eeb097—68806366View transaction
BorrowFXRP2026-09-01 23:36:453,280.493072 FXRP0x7f287b58…eeb097—68806361View transaction
RepayFXRP2026-09-01 23:36:436,298.600184 FXRP0x7f287b58…eeb097—68806359View transaction
BorrowFXRP2026-09-01 23:36:393,013.864610 FXRP0x7f287b58…eeb097—68806355View transaction
BorrowFXRP2026-09-01 23:36:333,013.864610 FXRP0x7f287b58…eeb097—68806353View transaction
RedeemUSDT02026-09-01 23:36:312,030.503650 USDT00x7f287b58…eeb097—68806351View transaction
RepayFXRP2026-09-01 23:36:294,091.913341 FXRP0x7f287b58…eeb097—68806349View transaction
BorrowFXRP2026-09-01 23:36:242,630.316435 FXRP0x7f287b58…eeb097—68806344View transaction
RedeemUSDT02026-09-01 23:36:221,702.959191 USDT00x7f287b58…eeb097—68806342View transaction
RepayFXRP2026-09-01 23:36:203,545.072261 FXRP0x7f287b58…eeb097—68806340View transaction
BorrowFXRP2026-09-01 23:35:412,512.268613 FXRP0x7f287b58…eeb097—68806301View transaction
RepayFXRP2026-09-01 23:35:374,821.494968 FXRP0x7f287b58…eeb097—68806297View transaction
BorrowFXRP2026-09-01 23:35:332,300.605435 FXRP0x7f287b58…eeb097—68806294View transaction
BorrowFXRP2026-09-01 23:35:272,310.588577 FXRP0x7f287b58…eeb097—68806292View transaction
RedeemUSDT02026-09-01 23:35:253,316.108015 USDT00x7f287b58…eeb097—68806290View transaction
RepayFXRP2026-09-01 23:35:224,061.761125 FXRP0x7f287b58…eeb097—68806288View transaction

Methodology

Lending accounting

Kinetic documents its infrastructure as a Compound-derived lending protocol. FlareSignal reads the official market contracts directly and derives supplied underlying using getCash + totalBorrows - totalReserves. APRs are simple annualised rates from Kinetic's on-chain per-timestamp rates. The published cToken implementation uses timestamp-based interest accrual.

Official ecosystem links

kinetic logoKinetic sources

Kinetic AppOfficial ContractsLiquidity MarketkTokensOracles & Pricing

PRO DEPTH · ANALYTICAL LAB

Kinetic Structure Lab

PRO
Deep history30D · 90D · 1Y · AllLong-cycle protocol structure
Timing lensActivity / state changeWhen defensible protocol evidence is moving
Structure lensConcentration · MixWhere capital or activity is concentrated
Historical contextMedian · Range · PercentileCurrent state against retained history