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 —FXRP SUPPLIED—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
6.7%FXRP utilised
FXRP lending market19,441,979.97 FXRP supplied1,301,467.90 borrowed · 18,141,307.57 cash
Borrowed share of supplied claim6.7%0.67% borrow APR · 0.04% supply APR
A capital-efficiency view only. Borrowed FXRP may appear again downstream and is not additive TVL.
Stablecoin credit layer4,673,551.60 USDT0
USDT0 supplied 5,047,896.33 USDT0USDT0 utilisation 92.58%Borrow events · 24h 0.00
Market-level debt stays distinct from borrower-level XRP collateral attribution.
0.0%stXRP utilised
Firelight receipt lending21,091.81 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 iconFXRP19,441,979.97 FXRPsupplied claim
kinetic logoKinetic6.7%current FXRP utilisation
CREDIT STATE
kinetic logoSupplied FXRP19,441,979.97 FXRPclaim on market assets
BORROWED1,301,467.90 FXRPredeployed credit
AVAILABLE CASH18,141,307.57 FXRPmarket contract liquidity
STABLECOIN CREDIT LAYER
USDT0 DEBT4,673,551.60 USDT0outstanding stablecoin debt
SUPPLY APR0.04%current lender rate
BORROW APR0.67%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 Claim11M
19,441,979.97token
kinetic logoFXRP Borrowed11M
1,301,467.90token
kinetic logoUSDT0 Debt11M
4,673,551.60token
kinetic logoLiquidations 24h11M
0.00count

YIELD INTELLIGENCE · kinetic logoKINETIC

Lender Yield Intelligence

Separate the live lender rate from borrower-paid base interest and from any incentive layer. Kinetic supply APR is a current market rate; verified attributed output is measured independently.

DERIVED
Current FXRP supply APR 0.038% Organic lending interest · incentives separate Current on-chain simple annualised lender rate.
DERIVED2026-11-02 02:35:34
Verified base lender interest 497,258.943608 FXRP Cumulative borrower-paid base interest attributed from verified lending activity.
FXRP utilisation 6.69% Borrowed share of the supplied claim.
Borrow APR 0.670% Borrower-side current market rate.
CAPITAL UTILISATIONFXRP Utilisation
6.7%current state
FXRP utilisation6.69%
Current FXRP supply APR0.038%
Measured borrowed share of supplied FXRP; current rate and realised interest remain separate.
RATE STACKCurrent Lending Rates
LIVE
Current FXRP supply APR0.038%
Borrow APR0.670%
Bars share one relative scale inside this panel; printed values remain the canonical observations.
7D RETAINED PATHFXRP Supply APR
READY
Latest0.038%7D move+7.75%Observations72
2026-10-26 04:20:002026-11-02 02:00:00
Borrowerspay base interest
Kinetic marketaccrues lending interest
FXRP suppliersreceive base lender economics
ORGANIC Base lending interest VERIFIED Borrower-paid base interest is independently accounted.
INCENTIVES Kinetic incentive layer BUILDING Excluded until exact allocation/distribution evidence is independently observed.
RATE Supply APR CURRENT Current protocol rate, not retroactively applied to history.

Yield accounting: Supply APR and realised historical interest answer different questions and are never substituted for one another.

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 interest497,258.943608 FXRPcumulative attributed output
Current FXRP supply APR0.04%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 claim19,441,979.97 FXRPcash + borrows - reserves
FXRP iconMarket cash18,141,307.57 FXRPactual FXRP held by market contract
FXRP iconBorrowed out1,301,467.90 FXRPcan be redeployed elsewhere
FXRP iconFXRP utilisation6.69%
Supply APR0.04%
Borrow APR0.67%

kinetic logoCredit creation

USDT0 Debt in XRPFi Market

4,673,551.60 USDT0stablecoin debt outstanding inside the isolated FXRP / stXRP market
USDT0 supplied5,047,896.33 USDT0
USDT0 utilisation92.58%
USDT0 borrow APR17.39%
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 claim19,441,979.97 FXRPproductive financial claim
↘
Cash18,141,307.57 FXRPstill physically in Kinetic
Borrowed1,301,467.90 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 claim21,091.81 stXRP
stXRP iconstXRP market cash21,091.81 stXRP
stXRP iconstXRP borrowed0.00 stXRP
FXRP iconFXRP look-through21,133.28 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 iconUSDT0 — — — — — — 80.00% 5,000,000.00 — ✓ Yes View market

On-chain lending activity

kinetic logoRecent Kinetic Events

EventAssetTimeAmountBorrower / ActorLiquidatorBlockTransaction
RedeemFXRP2026-09-15 12:07:512,000.000000 FXRP0xdfe61155…d85a14—69835328View transaction
BorrowFXRP2026-09-15 11:26:133,500.000000 FXRP0x681ad9ce…67174c—69833288View transaction
MintUSDT02026-09-15 11:23:498,000.000000 USDT00x681ad9ce…67174c—69833164View transaction
MintFXRP2026-09-15 10:54:031,992.965418 FXRP0x05515ed7…545899—69831672View transaction
BorrowUSDT02026-09-15 10:52:422,800.000000 USDT00x05515ed7…545899—69831605View transaction
MintFXRP2026-09-15 10:44:30200.099717 FXRP0x2198a30b…db2dd3—69831233View transaction
MintFXRP2026-09-15 10:02:0292.968476 FXRP0x8aa4935c…fdeffb—69829152View transaction
RepayUSDT02026-09-15 08:26:23857.714274 USDT00x2c189c33…cc31e7—69824392View transaction
BorrowFXRP2026-09-15 08:01:3810,000.000000 FXRP0xfa666bd8…76dbca—69823115View transaction
MintFXRP2026-09-15 05:23:22259.739999 FXRP0xd9df89d6…d38999—69814896View transaction
BorrowFXRP2026-09-15 05:14:3210,000.000000 FXRP0xfa666bd8…76dbca—69814458View transaction
BorrowFXRP2026-09-15 05:12:4010,000.000000 FXRP0xfa666bd8…76dbca—69814351View transaction
MintUSDT02026-09-15 04:42:4020.000000 USDT00x5ff244ac…6f044f—69812772View transaction
BorrowFXRP2026-09-15 04:33:4310,000.000000 FXRP0xfa666bd8…76dbca—69812306View transaction
MintFXRP2026-09-15 04:18:125.000000 FXRP0xe0639774…12c0ae—69811473View transaction
MintUSDT02026-09-15 04:16:5035.523368 USDT00xe0639774…12c0ae—69811404View transaction
BorrowFXRP2026-09-15 03:12:1410,000.000000 FXRP0xfa666bd8…76dbca—69807982View transaction
MintstXRP2026-09-15 02:02:461,006.475213 stXRP0x8ce6d7c2…5a9e0d—69804379View transaction
RedeemFXRP2026-09-15 01:19:128,899.000000 FXRP0xfac8aa12…315771—69802063View transaction
RepayFXRP2026-09-15 01:18:36684.811407 FXRP0xfac8aa12…315771—69802038View 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