Demex Daily #232: Ripple Adds Ethereum-Compatible Smart Contracts to XRP Ledger

What’s Interesting Today:

Ripple is enhancing the XRP Ledger by introducing Ethereum-compatible smart contracts via a new sidechain. This sidechain, built on the XRPL, will use the Axelar network for cross-chain token transfers, with Wrapped XRP (eXRP) as the primary token. The integration of Ethereum Virtual Machine (EVM) compatibility will allow developers to use familiar tools, expanding XRP Ledger's capabilities to include decentralized exchanges and token issuance, broadening its appeal to the global developer community.

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Aave and Sky (formerly Maker) are exploring a partnership to bridge decentralized finance (DeFi) with traditional finance (TradFi). The collaboration, called Sky Aave Force, aims to create markets for the stablecoin USDS on Aave. A proposal from Phoenix Labs suggests issuing SPK tokens to incentivize this market and introducing a Direct Deposit Module to allow Sky to mint USDS directly into Aave’s market. The partnership seeks to drive mass adoption and strengthen the relationship between the two protocols as key players in scalable DeFi.

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