Seasoned crypto enthusiasts would probably find themselves well-acquainted with the promise and potential of Ripple, a large cap coin that has established its place in the world of digital currencies. However, what some might still stumble over is the recent market entry of XRP20, an innovative initiative planting its roots in the philosophy of Ripple but branching out with a primary focus on retail investors. A key point to touch upon here is that, despite drawing its inspiration and tokenomics from Ripple, XRP20 is its own separate project with no affiliation to the larger coin.
In its effort to stand out, XRP20 offers features such as a deflationary token and staking rewards. On top of that, its retail price of $0.00009200 stands remarkably lower than that of Ripple’s current price of $0.70. Preempting the ripple effects of Ripple’s recent victory against the Securities and Exchange Commission, XRP20 wants to ride the wave of news and draw in investors who see future potential in the coin.
XRP20 positions itself to be more than just a Ripple spin-off. It offers a deflationary ecosystem along with staking rewards. The total token supply stands at 100 billion $XRP20 with a structured allocation for presale, staking rewards, burn mechanism, and DEX liquidity. It’s the introduction of on-chain staking for the XRP Army that seeks to encourage active community engagement, offering dividends of passive income and long-term stability to the token’s ecosystem.
The implementation of a token burning mechanism post DEX launch signals the project’s commitment to maintaining scarcity in the token supply. The burn mechanism entails a buy and burn mechanism that funnels 0.1% of every buy and sell into a burn address. The strategy is aimed at reducing token supply over time, leveraging the laws of demand and supply to its advantage.
The XRP20 roadmap unfolds in four stages, each serving distinct purposes. Laying the groundwork is the presale and token distribution stage, aimed to foster a strong, engaged community base. Followed by a concentrated marketing and awareness campaign centered around the token’s accessibility and usability. Next, the token burning mechanism comes into play. Though the specific details surrounding it are sparse as of yet, 0.1% of each transaction flows into a burn address, with 10% of the supply allocated for a burn. The final stage circles back to community staking, a crucial mechanism to promote long-term investment and price stability.
Investing in XRP20 is a friendly affair requiring nothing more than setting up a Web3 wallet, buying crypto (USDT or ETH), connecting your wallet, buying your $XRP20, and claiming your tokens post the presale. It’s a straightforward process, though not exempt from potential pitfalls. With token purchase, comes the possibility of value appreciation and depreciation. XRP20 is a speculative asset, hence its price can fluctuate. It’s critical, therefore, to be well-acquainted with the project and its risks before embarking on the investment journey.
Source: Cryptonews
