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Effective URL: https://xn--rpple-e81b.com/insights/reserve-token-redistribution/
Submission: On April 28 via manual from ES — Scanned from ES
Effective URL: https://xn--rpple-e81b.com/insights/reserve-token-redistribution/
Submission: On April 28 via manual from ES — Scanned from ES
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The Time for Progress is Now Learn More We couldn’t find a match for “”. Please try another search. Insights RESERVE TOKEN REDISTRIBUTION FOR 2024 Team Ripple April 25, 2024 Views Insights Ripple is proud to serve as a leader in digital finance and blockchain technology, with continuous growth and adoption since the launch of our digital token, XRP, for the fastest distributed ledger platform in existence, XRPL, and xRapid, our state-of-the-art payments system for banking and decentralized finance. Our network has improved significantly since 2013 and is now a vital component of the global market for digital finance. Partnerships with central banks and nations to propose CBDCs are possible. The latest data shows that the XRP Ledger has reached 5.1 million active accounts, peaking at almost 5.9 million daily transactions. As shown below, tokens have been escrowed, burned, or turned liquid over the years, and ownership has gradually shifted from the Foundation to individual users, consumers, or institutional entities (investment funds or banks). Excellent management, developers, staff, and our fantastic and loyal community, the "XRP Army", made the exponential growth of XRP, xRapid, and XRPL possible. Max supply 100,000,000,000 Active accounts 5,175,305 Total available 99,987,645,319 Burned 12,354,681 Escrowed 39,908,075,172 Circulating supply 60,067,215,466 Beyond vocally defending Ripple and XRP on social media, some in the community went the extra mile. Around 75,000 investors joined a separate lawsuit against the SEC, affirming they did not believe XRP to be a security. Ripple CEO Brad Garlinghouse has acknowledged the community's effort on several occasions, notably throwing a "proper party" to celebrate the win against the SEC and dedicating an award to the community. In addition to the formal and public acknowledgment, the company has released another campaign to thank the XRP holders, entitled "Reserve Token Redistribution". The reserve refers to the Ripple 52 account, which was held as a "reserve" for any further legal costs and corporate spending for the SEC case. Having obtained a historic victory last year in July, the locked funds will now have another destination: rewarding our community. Of the 90M XRP held in the reserve account, 48M will be allocated to individual eligible accounts from April 25th to May 1st. The Reserve Token Redistribution will benefit established community members and new users who wish to join the XRP ecosystem. The program is based on the snapshot taken on March 1st, at 12:00 a.m. UTC, corresponding to ledger sequence 86,305,991. The snapshot helps differentiate between existing and new users. The reward mechanism checks eligibility and inclusion to allow higher payouts for older and more active accounts. At the time of the snapshot, 59,269,765,114 tokens were in circulation. With the exclusion of exchanges, foundation reserves, and escrow accounts, the individually owned eligible accounts had a cumulated balance of 15,102,418,378 XRP, with an average recorded balance of 3142 XRP. This value, rounded to 3000 XRP, is the minimum token balance required to submit a claim for existing and new accounts. We will refer to this as the redistribution floor balance. As current market metrics have shown, the liquidity infusion resulting after the completion of the Reserve Token Redistribution will have no distinguishable effect on Ripple's native token price or trading volume. This reiterates our purpose of adding value to the token and not overflooding the market to compensate for the price suppression effect of the failed legal measures and FUD against our company in the past two years. REGISTRATION INSTRUCTIONS Our developers have released the final version of the Token Distribution App, a self-custody decentralized web wallet and toolkit that analyzes records, validates accounts, and estimates rewards. After being tested for over 16 months, it has built-in instant reward functionality and provides unparalleled safety features for any open-source web app. It allows even beginners or intermediate users to register and claim their XRP reward share in a one-click manner. The Distribution Program's principal goals are community involvement, userbase growth, self-custody, and ownership awareness. None of the centralized exchanges can participate in the program. To reinstate the above, community members who submit a claim must create, import, or present Proof-of-Ownership for a private individual XRP account. This is the only way to receive the bonus XRP allocation. HOW DO I ESTIMATE REWARDS? The Token Distribution App does this automatically, but we'll break it down here so you can better understand the mechanism. Based on metrics such as account age, transactional activity, trading, trust line interaction, NFT involvement (minting, storing, or trading), and overall network participation, users can claim up to 30% more XRP based on their current balances. Account Eligibility Conditions Bonuses Is privately owned (self-custody) and not related to any Foundation accounts, exchanges, or other organizations A 15% basic bonus will be added based on the current balance Has a balance greater than the distribution floor value of 3000 XRP A 5% additional bonus for account snapshot inclusion Its balance was not the subject of this program (revolving accounts and multiple claim submissions are not possible) A 5% additional bonus is granted for account activity (DEX trading, token trust lines interactions) Agrees with the Foundation's Terms & Conditions A 2.5% additional bonus is granted for NFT minting and trading As you can see, an account recorded with a positive balance over the distribution floor balance is eligible for a maximum 30% reward by accessing the introductory bonus and all four additional ones. A newly created account is restricted to the primary bonus allocation of 15%. REGISTER AND CLAIM * To register your account, access the Token Distribution App * Connect to RippleNet at wss://s2.ripple.com (a confirmation message will be displayed when connected) * Enter your account address (the Allocation Tool will automatically estimate your reward and register the provided account address) * Submit your claim (a network fee of 0.000018 XRP is required for submission) We recommend using hardware wallets such as Ledger or Trezor instead of software or paper wallets because these devices provide additional security layers. If your device doesn't appear in the selection box, ensure you meet all requirements and follow the instructions above. If you see a Windows popup, see the troubleshooting guide for Windows Security Popup. If you're experiencing other connection issues, follow your hardware's wallet troubleshooting guide. Hardware wallet users will receive a confirmation ID message for the successful claiming process. You can save this ID for future references and/or support tickets. RELATED STORIES Reserve Token Redistribution for 2024 April 25, 2024 How Blockchain Can Supercharge B2B Payments April 15, 2024 How MiCA and European Digital Asset Regulation are Paving the Way for Institutional Adoption April 9, 2024 Championing Blockchain and Crypto Utility with Ripple’s USD-backed Stablecoin April 4, 2024 Cashless Payment Systems: How Blockchain Can Power the Future of Payments March 13, 2024 Raising the Bar on Talent at Ripple March 8, 2024 Unlocking Liquidity in the Tokenized Economy - Part 3 March 7, 2024 Back to top Solutions * Cross-Border Payments * Custody * Crypto Liquidity * Central Bank Digital Currency Customers * Customers Overview * Customer Case Studies * RippleNet Customer Login About Us * Our Story * Ripple Impact * Academia * SBI Ripple Asia Resources * FAQs * Developer Resources * Our Partners * Public Policy * Get Support * Press Center * Compliance * RippleNet Committee * Cookie Preferences Learning & education * Blog * Content Library * Events * Learn About XRP Careers * Careers Overview * Open Roles * Company Culture * Engineering Terms | Privacy © 2013 - 2024 Ripple, All Rights Reserved. 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