Monarq, Flare, Upshift launch MXRPY vault at 3–4% APY
Monarq, Flare and Upshift launched MXRPY, a managed multi-strategy FXRP yield vault on Flare targeting 3-4% APY.
Monarq, Flare and Upshift launched MXRPY on May 15, offering a managed multi-strategy yield vault that accepts FXRP, the Flare representation of XRP, and targets roughly 3–4% annual percentage yield. The product opened on Upshift with an initial deposit cap set at 500,000 FXRP.
The vault allocates deposits across three main strategies. One channel underwrites options using XRP as collateral via FalconX and executes positions on venues including Deribit and over-the-counter structured-product desks. A second channel runs market-neutral basis and funding-rate arbitrage funded with borrowed stablecoins. The third deploys funds into Flare-native XRPFi applications, such as lending markets and liquidity strategies built for FXRP.
Users who deposit FXRP receive MXRPY receipt tokens that represent principal and accrued yield. Withdrawals are processed weekly on Fridays. An optional instant-redemption feature is available for a fee. Returns are distributed over time and will vary with market conditions, execution and timing of deployments.
Monarq Asset Management is responsible for portfolio allocation and risk decisions. Upshift provides custody and institutional infrastructure for the vault. Flare is listed as a partner in the launch. The three firms said a standalone application is in development that will allow XRPL wallets to connect and deposit to MXRPY via a single-signature flow enabled by Flare Smart Accounts.
Shiliang Tang, managing partner at Monarq Asset Management, characterized the product as an additional option for XRP holders. Ethan, growth lead at Upshift, pointed to demand for XRP-denominated vaults and said MXRPY offers a different strategy mix and a broader set of yield sources compared with existing vaults.
The firms warned that depositors remain exposed to counterparty risk, smart-contract vulnerabilities, oracle failures and other infrastructure risks across both on-chain and off-chain venues. Yields are not guaranteed and may fluctuate with market conditions and execution quality.
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