Glossary

Definitions of key terms and abbreviations used across this documentation.

Collateral Assets

Crypto assets (initially FXRP) eligible for deposit into the Firelight Protocol for staking. Collateral refers to specific tokens.

Delegation

The mechanism by which stakers deploy collateral to a vault, mint an liquid staking token (LST) to represent their stake, with the vault delegating the underlying asset to DeFi coverage.

FAssets

FAssets turn non-smart contract cryptocurrencies into assets that can be used in DeFi. Learn more about FAssets here.

Firelight Points

The metric on the main dashboard that shows the cumulative number of points distributed to users throughout the Firelight ecosystem. Points reward participation.

FXRP

A 1:1, overcollateralized ERC-20 representation of XRP on Flare, non-custodial and onchain verified via Flare’s enshrined data protocols.

Limit

This is the maximum deposit capacity for the vault. If the TVL is close to the limit, the vault may not be accepting new deposits.

Liquid Staking Token (LST)

A tokenized representation of staked assets that remains liquid and tradable.

stXRP

Liquid staking token (LST) representing staked XRP in Firelight's Launch Vault.

Total TVL (Total Value Locked) — Platform-Wide

This represents the current total dollar value of all assets deposited by users across every vault in the protocol.

Total TVL (Total Value Locked) — Vault

This shows the current size of this specific vault, indicating how much collateral has been deposited into it by other users.

Vaults

Smart contracts in which staked assets are deployed, stake allocation is tracked and LSTs are issued.

Unstaking Period

Cooldown time required when withdrawing staked assets.