Ripple promises to lock up XRP supply

Status
Archived

evo

Site Admin
Joined
Apr 2017
The widespread rumor of Ripple locking up all XRP has been made true, as Ripple has promised to voluntary freeze its ownership of XRP cryptocurrency.

Ripple currently stores $16,000,000,000 worth of XRP, and 88% of these assets will be moved into smart contracts, held within escrow, until a certain time or condition has been met. The contracts are set to release 1,000,000,000 XRP every month for the next 4.5 years. As each contract expires, the cryptocurrency will briefly become available for Ripple to use as it sees fit.

This will give owners holding Ripple certainty that the market won't be flooded with the currency, which in turn would have decreased the price of XRP.
 
Status
Archived

Similar Threads

Top