Tuesday, January 24, 2023
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Ripple CTO States Clear Difference between Billions of XRP in Escrow and Flare (FLR) Airdrop

Ripple chief executive officer David Schwartz continues to pour out his criticisms on the completed first round of the Flare token (FLR) airdrop to eligible XRP holders. 

This time around, the Ripple CTO protested the comparison of XRP held in Ripple’s escrow account with the Flare token airdrop holding principles. According to him, XRP in the Ripple escrow account is different from the Flare airdrop situation.

These comments come a few weeks after he accused the Flare Networks team of using the XRP community to go mainstream and then abandoned them afterward. 

David Schwartz Opposes Flare Networks Explanation

Following the parade of dissatisfaction from the XRP community over the FLR token airdrop, Flare Networks founder Hugo Philion took to Twitter to explain the reason for the proposed changes regarding the remaining portion of the promised FLR airdrop to the qualified XRP holders.

He wrote, “singular airdrops don’t work. They get dumped before the ecosystem can develop and the dumping then prevents the ecosystem from developing.”

David Schwartz who claimed that Flare airdrop holding rules build in a lot of monetary expansion that doesn’t seem to benefit anyone but Flare reacted to Hugo’s comment by saying, “They get dumped once, and then it’s over. Every sale is to a matching buyer who wants the token more than the person who sold it wants it because they believe in the ecosystem more.”

In response, a certain Flare community member Dan slammed the Ripple CTO, dubbing his comment as being hypocritical while noting that there are 31% more XRP in circulation now than at the previous all-time high. “So dump 100% of the escrow every month? Get it all out onto the market and then the monetary inflation with no benefits is over”, he added

Read Also: Ripple CTO David Schwartz: There Is No Remaining FLR Airdrop Balance For XRP Holders Anymore

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“The two situations are not comparable”, Schwart asserted. Furthermore, he said, “the XRP in the escrow belongs to Ripple, a for-profit corporation to do with as fits Ripple’s goals. There’s no community ownership. No vote. The Flare in the airdrop is supposed to be the community’s to vote on to benefit the ecosystem.” 

“But as I’ve said before, I do wish Ripple had given away more XRP while it was still close to worthless. Everything gets much harder to do as the value goes up,” he added. 


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Ndianabasi Tom
Ndianabasi Tom
Ndianabasi Tom joined the crypto and blockchain industry in late 2018. He is an all-rounded crypto journalist and content writer. At TimesTabloid, he covers the industry's latest news, developments, and other educational content. He is a graduate of Petroleum Engineering. ([email protected])
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