Hey there, crypto enthusiasts! If you’ve been keeping an eye on the decentralized finance (DeFi) space, you’ve probably heard of DefiLlama, the go-to platform for tracking DeFi metrics. Well, they’ve just dropped some exciting news that’s stirring the pot in the blockchain world. As of July 1, 2025, DefiLlama is now tracking XRPL EVM, an Ethereum-compatible sidechain built for the XRP Ledger, in collaboration with Peersyst and RippleXDev. Let’s dive into what this means and why it’s a big deal!

What Is XRPL EVM?

First things first, let’s break it down. XRPL EVM is a sidechain (a separate blockchain linked to the main one) designed to bring Ethereum’s smart contract capabilities to the XRP Ledger. Built using the Cosmos SDK and the Evmos stack, it allows developers to write and deploy Solidity smart contracts—those self-executing agreements that power DeFi apps—on the XRP Ledger. Plus, it uses XRP as the native gas token, meaning you’ll pay transaction fees in XRP instead of Ethereum’s ETH. Cool, right?

This sidechain also taps into Axelar for cross-chain interoperability, letting it connect with other blockchains seamlessly. Think of it as a bridge that lets different crypto ecosystems talk to each other, opening up a world of possibilities for DeFi projects.

Why This Matters for DeFi

So, why should you care? The XRP Ledger has long been known for its speed and low-cost transactions, making it a favorite for payments and cross-border transfers. But it lacked the smart contract functionality that Ethereum and other platforms like Binance Smart Chain offer. Enter XRPL EVM—this is a game-changer because it combines the best of both worlds.

With DefiLlama now tracking XRPL EVM, you can expect more visibility into its total value locked (TVL), a key metric that shows how much money is staked or locked in DeFi protocols. This tracking will help developers, investors, and enthusiasts gauge the sidechain’s growth and adoption. Plus, since it launched on mainnet just two days ago (June 30, 2025), this is the perfect time to jump in and explore its potential!

The Tech Behind the Scenes

Let’s geek out a bit. XRPL EVM uses a Proof of Authority (PoA) consensus model, which relies on a group of trusted validators to confirm transactions. This ensures fast finality (transactions are settled quickly) and keeps costs low, aligning with the XRP Ledger’s efficient design. The Evmos stack, meanwhile, is built to make Ethereum compatibility a breeze, while Axelar’s tech adds that cross-chain magic.

For blockchain practitioners, this means you can leverage your existing Ethereum development skills to build on XRPL EVM. Whether you’re creating decentralized apps (dApps) or experimenting with new DeFi ideas, this sidechain offers a fresh playground.

What’s Next?

The crypto space moves fast, and this move by DefiLlama signals that XRPL EVM could become a hot topic. Keep an eye on its TVL and the projects building on it. If you’re into meme tokens or DeFi experiments, this could be a spot to watch for innovative cross-chain opportunities. Who knows? Maybe the next big meme coin will launch here!

For now, head over to DefiLlama to check out the latest stats on XRPL EVM. And if you’re a developer, start exploring the XRPL EVM docs to get hands-on. The future of DeFi is looking more interconnected than ever—let’s see where this takes us!