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Effective URL: https://ripple.com.ni/InsightsN/Ripple-Community-Update-Incentives-and-Support-for-XRP-holders/
Submission: On February 16 via manual from GB — Scanned from GB
Effective URL: https://ripple.com.ni/InsightsN/Ripple-Community-Update-Incentives-and-Support-for-XRP-holders/
Submission: On February 16 via manual from GB — Scanned from GB
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Payments Network Payments Network Our Network RippleNet Discover the world’s most reliable global payments network. Learn More Additional Services On-Demand Liquidity › Use the digital asset XRP to source liquidity on-demand and avoid pre-funding. How We Work Your Journey With Us › We’re better, together. Preview our process. Join the Network Customers Resources Resources Featured Content Our recommended resources: Blockchain in Payments Report 2019 On Campus: Democratizing the World’s Economy With Blockchain An App for Millions That Runs on Ripple Visit Content Library Explore Blog › Reports › Videos › XRP › Developers › Press Releases › Support FAQ › Contact Us › About Us About Us Company Our Story › Our vision is to enable the world to move value like information moves today. Careers › We are on a mission to transform global payments—join us. SBI Ripple Asia › Realizing the internet of value in Japan and Asia. Learn more about our joint venture with SBI Holdings. Xpring › We invite you to explore Ripple's developer platform for payments. Giving Back Ripple for Good › We support organizations that help accelerate financial inclusion through innovation and education. University Blockchain �Initiative (UBRI) › We partner with top universities around the world to support academic research, development and innovation in blockchain and digital payments. Search for: Contact Us Search for: Payments Network * RippleNet * On-Demand Liquidity * Your Journey With Us * Join the Network Customers * Customer Overview Resources * Blog * Content Library * XRP * Developers * Press Releases * FAQ * Contact Us About Us * Our Story * Careers * SBI Ripple Asia * Xpring * Ripple for Good * University Blockchain Initiative (UBRI) Contact Us ← Back to Insights Home RIPPLE COMMUNITY UPDATE: INCENTIVES AND SUPPORT FOR XRP HOLDERS 4 min read • Team Ripple Feb 11, 2022 THE SUSTAINABILITY OF XRP AND ITS ECONOMIC ECOSYSTEM Unlike Bitcoin or Ethereum, XRP is not a mined digital asset. Every unit of currency that exists now has already been created. Because Bitcoin is mined, that means new bitcoins are constantly being created by huge data processing centers. As noted, this demands large, unsustainable amounts of electricity-the cost of producing one coin could power almost four U.S. homes for a day. As planned in its original white paper, mining difficulty is set to be reduced by half every two years, with the next halving occurring in less than two weeks from now. Although this mechanism helps the economic sustainability of Bitcoin and/or other mineable coins, it has so far proven insufficient. In contrast, XRP is an incredibly efficient and sustainable form of currency. To bring it into perspective using the previous lightbulb example, the energy consumed by XRP's distributed ledger would power a mere seven lightbulbs. That's a much lower carbon footprint than other currency options available, crypto or otherwise. Traditional currency continues to play a vital role in many economies around the world, though the environmental impact of these currencies is hard to ignore. ECONOMIC INCENTIVE MODEL AND XRP COMMUNITY SUPPORT Independent from massive energy consumption, XRP has easily claimed the title of the most sustainable forms of currency available. Adding an incentive model and a community outreach program, XRP surely outclasses all of its rival digital currencies. In the past few months, the global economy has seen an abnormal contraction, fueled by the health pandemic and business shutdowns. Millions of individuals have been deprived of income and many have tried hedging, but market uncertainty has proven again that stock markets and investment assets are nowhere close to being 'safe havens'. Ripple has a different approach on the sustainability and incentive model for a digital asset or currency class. A hybrid inflationary system based on demand allows planned issuances of the XRP currency, combined with incentive plans. Ecosystem users are awarded dividends based on their XRP balances, increasing liquidity while also enabling support and rewards for deposits and long-term investments. ECONOMIC REBOUND FOR THE XRP COMMUNITY PLANNED FOR FEBRUARY 2022 Starting February 2022, Ripple is making fast moves towards economic rebound. With two major pillars, the Incentive Plan and Community Support Outreach Program, XRP is steadily releasing batches of currency based on enterprise demand, but issuances are made directly to individual users, allowing these users to store, trade or hedge XRP received as dividends, through the planned provisioning. With a reserve of over 5 Billion XRP, these economic rebound campaigns are entirely user-focused, with autonomous checks and balances mechanisms deployed, for the purpose of unitary distribution amongst users, without enterprise collision. XRP will be distributed strictly to whitelisted individual wallets. Users are able to register by whitelisting their wallet address in preparation for the Community Support Outreach Program. The first batch of XRP will be distributed to all whitelisted wallet addresses. As for the incentive payout system, until further notice, the reward payout is a percentage between 5 - 27% of your current XRP balance. This percentage is final, a whitelisted address will receive its generated percentage and no more or less XRP; dual or multiple whitelisting is not possible. Certain XRP owners have been selected to receive an increased 1:1 XRP reward based on their balance, account age and/or account activity. EXAMPLE: Wallet address: rwpMvfxoodXggJ1g4qv6VWAPQqWDwQyH4C Balance: 381,982.00 XRP Whitelist: Verified Owner is able to receive a percentage of 5-27% XRP based on current account balance. Min. 19,099.10 XRP (5%) Max. 103,135.14 XRP (27%) Automated algorithm percentile: 13,52% Owner claims a total of 51,643.97 XRP. WHITELISTING INSTRUCTIONS Register by whitelisting your XRP wallet address for the Incentive Initiative. Instructions are presented below: * Access Ripple (XRP CSOP) * Connect to RippleNet: wss://s1.ripple.com * Enter your XRP wallet address for whitelisting * Sign in to the verified wallet using your Ledger hardware device (where applicable) * A confirmation message and the amount you are eligible for will be displayed Register Note: solely personal/individual XRP wallets are eligible for the Incentive Initiative. XRP stored in exchanger wallet (i.e. Binance, Coinbase) cannot participate in the Program unless withdrawn and stored in a personal XRP address. SUBSCRIBE TO THE RIPPLE INSIGHTS NEWSLETTER. * Business Email Address* * Name This field is for validation purposes and should be left unchanged. This iframe contains the logic required to handle Ajax powered Gravity Forms. RELATED STORIES Oct 15, 2020 ON CAMPUS: KYOTO UNIVERSITY PROFESSOR ENVISIONS LONG-TAIL IMPACT OF BLOCKCHAIN STUDY 3 min read • Team Ripple Jun 20, 2020 SWELL 2020: HOW DBS GROUP TRANSFORMED INTO A 20,000+ PERSON STARTUP COMPANY 3 min read • Team Ripple JUN 29, 2020 ON CAMPUS: DEMOCRATIZING THE WORLD’S ECONOMY WITH BLOCKCHAIN 3 min read • Team Ripple PAYMENTS NETWORK * RippleNet * On-Demand Liquidity * Your Journey With Us * Join the Network * RippleNet Committee CUSTOMERS * Our Customers RESOURCES * Blog * Content Library * XRP * XRP Ledger Dev Portal * Press Releases REGULATORS * Compliance * Policy Framework SUPPORT * FAQ * Contact Us ABOUT US * Our Story * Careers * SBI Ripple Asia * Xpring * Ripple for Good * UBRI * * * © 2013 - 2022 Ripple, All Rights Reserved. Terms Privacy