Created by XRPL Labs, a development team that works on projects for XRPL, Xahau Network is a sidechain offering the allure of smart contracts via the innovative Hooks protocol. However, accessing its wide range of possibilities comes with a cost. Users must burn their XRP to mint the equivalent in XAH tokens, effectively fueling the fire of the burn mechanism.

While initial adoption of this XAH-for-XRP swap remained low, a recent Xumm wallet update, which rebranded it as the Xaman wallet, has caused a surge in the community. This update grants users the sleek ability to seamlessly navigate between the XRPL and Xahau, with their existing r-address.

The impact of this convenience provided by Xaman is evident in the rising number of XRP burns shown on XRPScan. Since mid-December, the data paint a clear picture of an accelerating trend.

Between December 18 and 20, daily XRP burns rose from below 3,000 XRP to over 5,000 XRP. This ascent resumed on December 28 and carried on to January 2, where burns crossed 10,000 XRP.

While regular XRP transfers contribute a steady stream to the token burns, the recent uptick undoubtedly carries the fingerprints of Xahau’s growing adoption.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

What’s Next for XRP?

The question on the minds of many now is where these burns will lead. Can the increased token burn rate reshape the XRP price landscape, and push the beloved token up?

Proponents of this theory point to the deflationary potential of the burn mechanism, arguing that each burned token gets removed from circulation, theoretically tightening supply and potentially pushing the price upwards. However, cautious voices temper this enthusiasm, citing the relatively low number of XRP currently being burned.

Over its lifetime, the burn mechanism has only destroyed 11.8 million XRP, translating to a mere $6.8 million. This amount is nothing compared to XRP’s total supply.

Ripple Chief Technology Officer (CTO) David Schwartz recently shared his belief that the mod of burning XRP to mint XAH can increase demand for XRP. If XRPL can improve token burns, the burns, and the increased demand could help push XRP’s price up.

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While the total number of registered addresses and qualifying XRP remains significant, it’s crucial to delve deeper to understand the true impact and potential implications of this airdrop.

Airdrop Registration Finished
* Addresses: 38,478
* Exchanges: 2 (Bitrue & Uphold)
* Qualifying XRP:
— Addresses: 432MM
— Exchanges: 2.039BN
Now we crunch numbers & build Distribution Hook.

Soon, @XummWallet should release its Xahau update soon…

— Evernode – rEvernodee8dJLaFsujS6q1EiXvZYmHXr8 (@EvernodeXRPL) December 11, 2023

Read Also: XRP Community Sounds Alarm Over Evernode Airdrop Security: What You Must Know

Engagement and Participation

With over 38,000 addresses participating out of a vast pool of 432 million qualifying addresses, the Evers airdrop has demonstrably engaged a sizable segment of the XRP community. This engagement is crucial for bootstrapping the Xahau network and attracting early adopters, ultimately contributing to its growth and development.

The airdrop snapshot captured a specific moment in time, focusing on XRP held outside of two major exchanges. This decision highlights Evernode’s intention to incentivize direct participation in the XRP Ledger and within the Xahau ecosystem.

While the overall participation numbers are encouraging, further analysis is necessary to understand the geographic distribution and activity level of these addresses.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

Anticipation and Uncertainty

With registration complete, the focus shifts towards the airdrop itself. Evernode’s proposed timeline outlines the collation of addresses, calculation of individual allocations, and programming of the airdrop hook. This process, coupled with the anticipated release of the Xumm Wallet update for Xahau, creates a sense of anticipation within the community.

However, uncertainty remains regarding the process for users on the two participating exchanges. Although Evernode has assured separate distribution mechanisms, the specifics are yet to be revealed. This lack of transparency could potentially dampen enthusiasm amongst these users.

As Evernode emphasizes, the Xumm Wallet remains the only tool capable of claiming the Evers airdrop. This dependence on a single wallet due to its Xahau compatibility could potentially exclude users unfamiliar with the platform or those who prefer alternative solutions.

Read Also: XRP Holders Set to Receive Airdrop from Evernode. Here’s How to be Eligible

Long-Term Implications and Community Engagement

While the airdrop serves as a significant initial step, the long-term success of Evernode and Xahau will depend on their ability to attract and retain users beyond the initial buzz.

Building a robust ecosystem with diverse applications and value-adding features will be crucial for driving sustainable growth and solidifying the project’s place within the XRP ecosystem.

The Evers airdrop represents a noteworthy initiative by Evernode to engage the XRP community and promote the adoption of the Xahau network. While the initial engagement is promising, further analysis and transparency are necessary to ensure inclusive participation and address potential concerns.

Ultimately, the success of this project will hinge on its ability to deliver tangible value and build a thriving ecosystem that benefits both Evernode and the XRP community.

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This event holds significant importance for XRP holders, and Evernode’s update provides essential details regarding dates and potential security risks associated with the airdrop process.

Read Also: XRP Holders Set to Receive Airdrop from Evernode. Here’s How to be Eligible

Snapshot and Evers Distribution: What You Need to Know

On September 1st, Evernode took a snapshot of eligible XRP holders, identifying approximately 5,160,960 XRP addresses for the distribution of Evers, the native token of Evernode.

The amount of Evers airdropped to each XRP holder will be determined based on the XRP balance held in their respective XRPL accounts on the snapshot date.

Xahau Integration and Evers Airdrop Timeline

The distribution of Evers will take place in Xahau accounts, corresponding to the XRPL accounts that held XRP on the snapshot date. Xahau, a sidechain of the XRPL, recently went live, setting the stage for Evernode’s launch as the first native project on the sidechain.

Previously, Evernode had emphasized that Evers would only come into existence once Xahau was fully operational. With the sidechain now up and running, Evernode has unveiled the next step in the Evers airdrop process.

In an official blog post, Evernode disclosed that it will commence the formal process of preparing for the Evers airdrop on November 27th. The platform will provide a secure tool for XRP holders to register for the airdrop, enabling Evernode to calculate the Evers-to-XRP ratio for each eligible participant.

Evernode strongly advises XRP holders to exercise caution and wait for its update on November 27th before taking any action. This preemptive measure aims to safeguard XRP holders against potential scams that may arise during the airdrop process.

Evernode has revealed the specific Xahau address dedicated to issuing Evers. While vanity addresses are easily recognizable, XRP holders are urged to double-check their r-addresses before establishing any trust lines. Additionally, it is vital for XRP holders never to trust anyone sharing a different address, as this could lead to fraudulent activity.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

Read Also: XRP Holders Urged to Heed Important Notice While Awaiting This Development and Airdrop

Airdrop Launch Date Update: Patience Required

Evernode has made a revision to the airdrop launch date, shifting it from November 27th to December 18th. The adjustment is due to an unexpected delay in the XUMM wallet’s support for cloning XRPL accounts on Xahau. This step is crucial for the finalization of the Evers airdrop.

The Evers airdrop by Evernode presents a remarkable opportunity for XRP holders to engage with and contribute to the growth of an innovative Layer-2 smart contract platform. By closely following Evernode’s updates and exercising caution throughout the process, XRP holders can ensure the secure receipt of their Evers tokens while steering clear of potential scams.

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Xahau, which operates as a sidechain on the XRP Ledger (XRPL) to facilitate the execution of smart contracts, has recently made its debut alongside its proprietary digital currency, XAH.

Nonetheless, some members of the XRP community have expressed concerns regarding the necessity of burning their XRP tokens in exchange for XAH through a procedure known as Burn2Mint.

It’s essential to emphasize that this process is irreversible and involves the permanent forfeiture of XRP tokens.

Read Also: Ex-Ripple CTO Declines Help to Unlock His $241 Million Bitcoin Wallet, Has Two Guesses Left

Ripple CTO Explains Why He Supports the Burn2Mint Concept

In the face of these concerns, Schwartz has openly given his support to Xahau’s Burn2Mint strategy.

In a post on X, he explained the advantages of this approach, emphasizing that it is not the primary method for obtaining XAH. Furthermore, he outlined that the main channels for obtaining XAH will encompass airdrops, minting rewards, initial grants, and centralized and decentralized exchange.

There are a lot of advantages to their approach though.

First, it's important to understand that the idea is not that burn2mint will be the primary way people get XAH. People will primarily get XAH from the initial grants, from airdrops, from subsequent reward mints, from…

— David "JoelKatz" Schwartz (@JoelKatz) November 1, 2023

Burn2Mint serves as a backup solution to enable XRP holders to access XAH in a decentralized and secure manner, particularly in the early stages. He suggested that Burn2Mint addresses potential challenges that could impede Xahau’s launch, such as a scarcity of XAH or liquidity problems.

Moreover, Schwartz clarified the rationale behind Xahau’s choice of Burn2Mint over a two-way bridge solution. Implementing a two-way bridge would require a custodial entity to manage bridged assets on the XRPL, which would introduce technical and legal complexities.

Schwartz also addressed XRP holders who might be reluctant to use their tokens to obtain XAH. He mentioned that if Burn2Mint goes unused, it won’t affect them. However, if used, it will reduce the available supply of XRP and generate a demand for it, which is advantageous for these holders.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

Read Also: Ripple CTO David Schwartz Reveals Compelling Facts About Bitcoin (BTC)

Xahau’s Impact on XRP Supply

Xahau was introduced to improve XRPL’s capabilities and scalability. On the other hand, amid the discussions about Burn2Mint, Krippenreiter (@krippenreiter), a prominent community member, predicted that only a limited number of market participants would likely employ this mechanism.

He suggested that users might burn less than 1% of XRP’s total supply to acquire XAH, his rationale being that everyday users and investors lack a compelling reason to use Burn2Mint to exchange XRP for XAH.

Instead, they are more likely to opt for trading on centralized or decentralized exchanges in the future rather than engaging in coin burning. Now that Bitrue has announced the listing of XAH, the community is waiting to see what comes next.

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The post Ripple CTO Highlights How Xahau’s “Burn XRP to Mint XAH” Model Could Drive XRP Demand appeared first on Times Tabloid.

ATTENTION ALL #XRP FANS

@XahauNetwork $XAH Mint Event is NOW OPEN on #Bitrue

Don’t miss the chance to be the first $XAH holder

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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Wind reassured community members that his team’s commitment to developing the XRPL remains unwavering, regardless of Xahau Ledger’s success.

The @XRPLLabs team has been building Hooks and what now becomes Xahau … for 2.5 years now.

Did we seem less active on XRPL mainnet the past 2.5 years?

Nope. And our contributions and commitment to the XRPL ledger won't end now.

One ecosystem. One audience. More features. https://t.co/hS12G2Yznx

— WietseWind (+ Xumm @ XRPL Labs) (@WietseWind) October 29, 2023

Read Also: 600 Million Xahau XRP Allocated For Initial Distribution. Here’s What You Need to Know

The debate within the XRP community arose due to the predefined monetization plan for Xahau’s 8 Governance Game validator seats at launch. Critics expressed worries that once Xahau is fully operational and developers start receiving the initial allocation of 12 million XAH tokens as early validators, they might abandon the XRPL.

In response to these concerns, Wind firmly dismissed any notions of abandonment, emphasizing his team’s dedication to the XRPL.

Wind clarified that Xahau was specifically created as a platform for Hooks, a smart contract proposal for the XRPL before it goes live on the mainnet. Even if Hooks isn’t deployed on the XRPL mainnet, Wind assured the community that his team would continue to support and enhance both the XRPL and Xahau.

Wind’s comments resonated with the XRP community, providing reassurance regarding the XRPL ecosystem’s future. The team’s steadfast commitment to the development of both the XRPL and Xahau reflects their long-term vision and dedication to innovation.

Xahau: Advancing XRPL’s Capabilities

Xahau, a sidechain currently in development, aims to extend the functionalities of the XRPL by offering a platform for smart contracts and other advanced applications. The Fuel behind Xahau’s operations is its native token, XAH, which facilitates payments for gas fees and other transaction costs.

As a work-in-progress project, Xahau possesses the potential to significantly expand the capabilities of the XRPL. The introduction of Xahau opens doors for the development of decentralized exchanges, decentralized finance (DeFi) applications, and non-fungible token (NFT) marketplaces.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

Read Also: Experts Assess How XRP Could Benefit from Xahau and Its Token XRP+

Positive Outlook for XRPL’s Ecosystem

Wind’s recent remarks hold considerable weight, considering the ongoing discussions among the XRP community regarding Xahau’s impact on the growth of XRPL. His assurance of continued support and development for both ecosystems brings relief to community members concerned about potential divergence.

Xahau’s success could ultimately prove beneficial for the XRPL ecosystem as it introduces fresh innovations and attracts new users. Although the true potential of Xahau remains to be seen, the fact that it is being developed by a team deeply committed to the XRPL offers hope for a promising future.

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This news has captured the attention of XRP enthusiasts eagerly anticipating what this partnership might bring to the ecosystem.

ATTENTION TO ALL #XRP fans

Coming up: $XAH Mint Event and Token Listing on #Bitrue

@XahauNetwork is a innovative smart contract sidechain within the #XRPL ecosystem

Stay tuned for more updates and details. Don’t miss out! pic.twitter.com/EaXWppeRBA

— Bitrue (@BitrueOfficial) October 27, 2023

Bitrue has shown commitment to XRPL and the XRP community through its support for new coins on the network. Bitrue has also always supported new features and platforms with promising products like its support for EVRS, Evernode’s native token, and the EVRS airdrop snapshot in early September.

EVRS will be built on the Xahau Ledger, and Bitrue’s support for EVRS demonstrates consistent involvement in and support for projects closely associated with the XRP ecosystem.

The Xahau Network

The Xahau network gained prominence when it was unveiled in the joint launch of the Xahau whitepaper in late August alongside XRPL Labs, Evernode, Alloy Network, and other contributors.

In an update shared on October 21, Evernode indicated that the launch of the Xahau network was drawing near, with the completion of a milestone in the Hooks v3 audit process. This progress signals that the Xahau network is inching closer to becoming a reality, generating a sense of anticipation within the XRP community.

Although the Xahau whitepaper has been unveiled and progress is being made, there has been no official communication regarding the network’s official launch. This distinction is crucial to avoid misconceptions or misinformation within the XRP community.

At this stage, Xahau and its associated token, XAH, have not been launched. This implies that they can’t be traded or used. Bitrue’s announcement is in anticipation of the launch, and investors and enthusiasts should exercise caution and ensure they have accurate information to make informed decisions.

Community members also need to be cautious about claims of airdrops, giveaways, or opportunities to acquire XAH before its official launch.

As the community eagerly awaits the network’s introduction, it’s vital to remember that these tokens are not yet available for distribution or trading. In the cryptocurrency space, scams and fraudulent activities are not uncommon, so XRP holders need to safeguard their private keys and refrain from sharing them with anyone.

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The post Bitrue Unveils Exciting News for XRP Community appeared first on Times Tabloid.

Concerns Spark Community Engagement and Poll

Wietse Wind, the founder of XRPL Labs, took to X on October 4 to involve the community in a critical decision-making process.

Read Also: 600 Million Xahau XRP Allocated For Initial Distribution. Here’s What You Need to Know

Recognizing the potential compatibility challenges caused by the `+` character, Wind organized a poll seeking input from the community regarding the name change for the Xahau native asset.

1/ Re: that last minute change. The Xahau Launch Alliance members & everyone here on Twitter feel the native asset for the Xahau network should be named XAH.

Guess it now is. Forget about XRP+ (confusing, tricky ticker for exchanges, etc.). It's XAH.https://t.co/GzVNl41Hqx

— WietseWind (+ Xumm @ XRPL Labs) (@WietseWind) October 6, 2023

After enthusiastic participation from the community, the results of the Twitter poll were revealed, with a majority of 73% in favor of the new name: XAH. Armed with the poll results, Wind shared the decision on Twitter, officially announcing the change from XRP+ to XAH.

Introducing XAH: The Fuel for Xahau Network

During this announcement, Wind took the opportunity to provide further details on XAH. He explained that XAH plays a vital role within the Xahau network, acting as the “Gas” that prevents spam and ensures network security. Users who are not utilizing the Xahau network are not required to hold XAH.

Similarly, Wind highlighted that the original XRP token serves as an asset for consuming resources on the XRPL. With the introduction of XAH, users of the Xahau network will need to acquire XAH tokens to cover mandatory network fees, rendering spamming economically unviable for potential malicious actors.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

XAH Token Issuance: Innovation Through the xPOP Standard.

In a departure from the conventional token issuance methods seen in Initial Coin Offerings (ICOs), XAH adopts the xPOP standard, which was unveiled during the APEX event—an XRPL developer conference. Acquiring XAH involves a unique “Burn to Mint” (B2M) exercise that utilizes a “Proof of Burn” mechanism from the mainnet.

Read Also: Experts Assess How XRP Could Benefit from Xahau and Its Token XRP+

Users are required to burn a specified amount of XRP and provide evidence of the burn to Xahau, which will then reward them with XAH tokens. This streamlined process eliminates the need for third-party swaps and mitigates associated risks.

While the B2M exercise presents a novel and efficient way to acquire XAH, it’s essential to note that validation messages exist temporarily and are not permanently stored in the ledger’s history. Users who miss these messages will be unable to create an xPOP and, consequently, will burn XRP without being able to claim XAH on Xahau.

In conclusion, the Xumm team’s decision to change the native token ticker from XRP+ to XAH demonstrates their commitment to addressing compatibility concerns and reducing potential confusion within the cryptocurrency ecosystem.

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Evernode, a permissionless “layer 2” smart contract platform, took to X on September 22 to call the attention of XRP users to some scam techniques adopted by internet fraudsters, particularly on Twitter, and the proposed steps to mitigate these scams. 

In the precautionary statement, Evernode noted that it will only share links to the new website articles without sending direct messages to users. It also noted that it never offers support to users from its X handle.

Read Also: XRP+, a New XRP For XRPL Ecosystem. Here’s What You Need to Know

Evernode sounded this warning because there are scammers X accounts parading themselves as Evernode Support, Help Desk, Help Line, or Help Chat.

Rounding up the tweet, EvernodeXRPL reiterated, “Anybody claiming to be our “Help Desk” or “Customer Support” or “Dev Team” is a scammer trying to steal your coins.”

New Website: https://t.co/YuFpmwCGbA

To mitigate Twitter’s scammers, we’ll:
1. Only tweet links to website articles.
2. Never DM you.
3. Never offer support.

Anybody claiming to be our “Help Desk” or “Customer Support” or “Dev Team” is a scammer trying to steal your coins.

— Evernode – No Trustline & No Support (@EvernodeXRPL) September 22, 2023

Evernode Airdrops – Progress So Far And Criteria For Qualification 

For context, Evernode is a layer-2 network developed to integrate Smart Contract capabilities into the XRP ledger via hooks. On September 01, it announced the completion of its Evers airdrop snapshot for XRP holders in a discovery that spewed excitement among the XRP community.

The completed snapshot implies that XRP holders are now eligible to explore their captured XRP balance while they anticipate the final stage that would precede the airdrop. 

Recall that Evernode had previously disclosed that it intends to distribute 5,160,960 Evers to some qualified XRP holders. In addition, it noted that the distribution would play out in two steps.

Read Also: Experts Assess How XRP Could Benefit from Xahau and Its Token XRP+

The first step which involves capturing a snapshot of XRP holdings on the mainnet was completed on September 1 as previously noted in this report. It is left to see how the airdrop would play out. 

Notably, eligible accounts for the airdrop on the Hooks sidechain would be based solely on the individual’s XRP holdings on the mainnet. 

Also, users should ensure that they hold their XRP directly on-chain rather than via an exchange to claim the airdrop, as there might be a need to clone accounts on the Hooks sidechain to access these airdrops. 

600 Million Xahau XRP Up For Grabs 

While the XRP community continues to anticipate Xahau Ledger, the plan for an initial distribution of 600 million Xahau XRP has raised some controversies among the community members. 

Some members felt that the distribution strategy might be devastating to XRP’s market outlook. On the other hand, some argued that it was a means of fostering and enhancing growth.

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However, what has caught the community’s attention is the initial distribution of Xahau XRP tokens, an allocation of 600 million tokens that has sparked both enthusiasm and concern among XRP enthusiasts.

Smart contracts are coming to the XRP Ledger..

Here’s all you need to know about the new sidechain @XahauNetwork, XRP+ and Hooks, created by a group of core XRPL developers and @XRPLLabs.

(Click the link in the comments for the article) pic.twitter.com/yCEQdFfTsN

— onXRP.com (@onXRPdotcom) September 4, 2023

Read Also: Experts Assess How XRP Could Benefit from Xahau and Its Token XRP+

Unveiling Xahau: A Vision for Collaborative Growth

At its core, the Xahau Ledger builds upon the DNA of the XRPL, utilizing the XRP Ledger Consensus Protocol to establish a unique sidechain. This sidechain paves the way for the integration of smart contracts, a significant milestone within the XRP ecosystem. The community’s excitement is palpable, as they envision the opportunities that a smart contract sidechain can bring.

However, the distribution plan for the initial 600 million Xahau XRP tokens has become a point of contention within the XRP community. According to the Xahau whitepaper, the allocation serves as recognition for the significant contributions made by the launch parties. The distribution breakdown is as follows:

– Each of the eight Governance Game validator seats will receive 12 million XRP+.

– GateHub has been allocated 16 million XRP+ to enhance DEX stablecoin liquidity.

– XRPL Labs will receive 160 million XRP+ to support intellectual property development.

– The XRPL Foundation has been allocated 328 million XRP+ to bolster the health and stability of the XRPL protocol.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

Read Also: XRP Airdrop Snapshot Taken: Here’s the Next Step for XRP Holders

Divided Perspectives: Market Impact versus Long-Term Growth

Critics argue that the injection of 600 million Xahau XRP tokens into the market could potentially dampen the current XRP mainnet price. This concern arises from fears of market dilution when a substantial number of tokens are introduced all at once.

However, an alternative perspective highlighted in the report emphasizes the launch parties’ commitment to the long-term growth and utility of the XRPL ecosystem. By allocating a significant portion of tokens to various key areas, the launch parties aim to strengthen collaboration, intellectual property development, liquidity, and the overall health of the protocol.

As the Xahau Ledger prepares for its official launch, the distribution of 600 million XRP tokens remains a topic of lively discussion. The XRP community stands divided, with some expressing reservations about the potential market impact, while others recognize the strategic importance of fostering collaboration and network growth.

The future impact of this initial distribution on the XRP market will become evident in due time. One thing is certain: the Xahau Ledger and its associated XRP token present innovative opportunities to redefine the narrative around smart contracts on the XRPL ecosystem.

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