🔥🔥🔥 Document Reveals #Ripple💰 Plans to Sell Only 25B $XRP for Operations and Profit
A report authored by three Ripple employees from the markets and business development departments, along with Roman Leal from Goldman Sachs, reveals Ripple's intention to retain 25% of the total XRP supply.
Ripple Holding 25 Billion XRP
- Ripple emphasized that the network's design limits the issuance to 100 billion XRP tokens. Out of this, Ripple plans to retain 25%, equivalent to 25 billion XRP, currently valued at approximately $12.5 billion, to fund its operations and generate profit.
- Ripple's ongoing sales of XRP have been active for several years and are expected to continue. Presently, the company holds about 4.87 billion XRP in its spendable balance and 39.5 billion in escrow, totaling over 44.36 billion tokens in reserve.
- Before securing 55 billion XRP in escrow in 2017, Ripple held 61.68 billion in spendable wallets. With the current reserve of 44.36 billion XRP, it implies that Ripple has liquidated over 17 billion XRP over the years.
75 Billion XRP to Promote Development
- The document also suggests that Ripple plans to distribute the remaining 75% of XRP's supply, or 75 billion tokens, to incentivize market makers, gateways, and consumers to adopt the Ripple protocol. This strategy aims to stimulate XRP ecosystem development and create demand, thereby increasing XRP's value due to its finite supply. Currently, 55,618,185,850 XRP are in circulation.
Community Reactions
- The document, published in November 2014, a few years after Ripple's inception, has resurfaced, drawing mixed reactions from the community. Some have dismissed its relevance due to its age, suggesting that Ripple may have deviated from the initial propositions outlined in the document.
- This report, highlighted by Pro-XRP X user SMQKE, continues to spark discussion and analysis within the community.
Source - thecryptobasic.com
