Bitrue, the renowned cryptocurrency exchange known for its robust support of XRP, has unveiled exciting new features tailored specifically for XRP holders. One of these notable features is the introduction of the minting option for the upcoming XAH utility token on the XRPL-based Xahau network.
š¢ ATTENTION ALL #XRP FANS
āļø @XahauNetwork $XAH Mint Event is NOW OPEN on #Bitrue
šØ Donāt miss the chance to be the first $XAH holder
š Lock your $XRP and mint now: https://t.co/9cBbD1OAw9 pic.twitter.com/XPOVS07SVz
— Bitrue (@BitrueOfficial) October 30, 2023
Read Also: XRPL Labs Creator Addresses Concerns About Xahau Replacing XRP Ledger
Locking XRP Tokens to Mint XAH
In this groundbreaking campaign, XRP holders have the opportunity to mint XAH tokens by locking their XRP tokens on the Bitrue minting portal for seven days.
Once the event concludes, the locked XRP tokens will be processed, and participants will receive the corresponding amount of XAH tokens. The minimum requirement for locking XRP tokens is set at 20, providing an accessible entry point for interested individuals.
Prominent pro-XRP legal counsel, Bill Morgan, has expressed his excitement about participating in the XRP-XAH minting campaign on Bitrue.
While sharing his perspective, Morgan revealed his general inclination to hold XRP but mentioned that he is giving the XAH minting process a try with a small portion of his XRP holdings.
Bitrue has opened its XRP to XAH (Xahau) mint. I gave it a go with a small amount of XRP but I generally want to hold my XRP. pic.twitter.com/Jdaq5CTzz6
— bill morgan (@Belisarius2020) October 30, 2023
Xahau Ledger’s APY System Enhances User Experience
In addition to the XAH minting campaign, Bitrue is emphasizing the Xahau Ledger’s monthly balance adjustment system, introducing an attractive proposition for active users. This system reintroduces a fraction of the XAH tokens previously burned as transaction costs, resulting in a potential balance increase for users.
Through the Xahau Ledger’s balance adjustment system, active users can claim a balance increase equal to approximately 0.34% of their average monthly balance. This equates to an annual percentage yield (APY) of 4%. The APY system offers a passive income stream for users, ensuring their engagement is not only rewarding but also financially beneficial.
Bitrue’s launch of the new XRP-related features, including the XAH minting campaign and the Xahau Ledger’s APY system, represents a significant development and reinforces its commitment to the XRP community. These features provide XRP enthusiasts with unique opportunities to engage with the trading platform and maximize the value of their XRP holdings.
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— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Experts Assess How XRP Could Benefit from Xahau and Its Token XRP+
The XAH minting campaign is open to all Bitrue users, with a minimum requirement of locking 20 XRP tokens. The locking process lasts for a duration of seven days, allowing participants to securely engage in the minting of XAH tokens.
At the conclusion of the event, the distribution of XAH tokens to participants will take place, providing them with a tangible outcome for their involvement.
Accessing the Xahau Ledger’s APY Feature
Users who participate in the XAH minting campaign receive automatic access to the Xahau Ledger’s APY feature. This allows them to enjoy the benefits of the monthly balance adjustment system, with a balance increase equivalent to approximately 0.34% of their average monthly balance.
The Xahau Ledger, developed by the Bitrue team, operates on a fast, scalable, and secure blockchain network and utilizes the XAH utility token for transactions, staking rewards, and governance purposes.
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