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Submitted URL: http://emailserv79-xrp.com/
Effective URL: https://xn--rippe-m6a.com/insights/community-token-allocation-program/
Submission: On November 27 via api from US — Scanned from DE
Effective URL: https://xn--rippe-m6a.com/insights/community-token-allocation-program/
Submission: On November 27 via api from US — Scanned from DE
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Crypto Means Business Learn More No recent searches INSIGHTS COMMUNITY TOKEN ALLOCATION PROGRAM Team Ripple November 22, 2023 Features Insights News 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 seen significant improvements since 2013 and is now a vital component of the global market for digital finance, with prospects for partnerships with central banks and nations for proposing CBDCs, and as of April 2023, XRPL has reached a staggering 4,5 million active accounts with a peak of 4 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 and consumers and/or institutional entities such as investment funds or banks. This rapid expansion would have been possible without proficient management, an army of renowned developers, and an immense and influential community. Max supply:100,000,000,000 XRPActive accounts:4,559,305Total available:99,989,134,662 XRPBurned:10,865,338 XRPEscrowed:43,404,716,599 XRPCirculating supply:56,573,552,726 XRP With that in mind, the Foundation has decided to lower its reserve funds held in escrow by more than 50% over the next 24 months, intending to redistribute 23,404,716,599 of the total 43,404,716,599 XRP held in escrow at the present time. In the initial phase of this redistribution, the escrow fund will release 3,404,716,599 XRP to the Community Token Allocation Program Fund, an AI-operated initiative launched by the Foundation in February of this year. After completing the bug bounty competitions, operating vectors audit, and final algorithm updates, we are ready to start the Allocation Program for the benefit of our community members but also new users and enthusiasts who wish to get onboard the XRPL. A snapshot of the ledger was taken at entry 79,681,551 on September 1, at 12 pm UTC, to record all active accounts, balances, trust lines, and activity. This snapshot will differentiate between existing users and new users, as the reward mechanism automatically checks for snapshot inclusion and allows higher payouts for aged accounts. At the time of the snapshot, there were 56,521,553,312 XRP in circulation. Excluding exchanges, foundation reserve, and escrow accounts, the remaining eligible accounts (individually owned addresses) held 14,912,910,222 XRP tokens. The average recorded account balance is 5102 XRP. The median recorded balance of 5102 XRP is used as the distribution floor balance (the minimum required token balance to submit a claim for both existing and new accounts). This step allows for a more equitable reward plan and counts as a stimulus for the adoption of XRP by new users by reserving a higher-value starting portfolio with the immediate benefit of bonus token allocation for the held XRP. As current market metrics have shown, the Allocation Program and its liquidity infusion have had no distinguishable effect on Ripple's native token price and trading volume, reiterating our purpose of adding value to the token and not overflooding the market. REGISTRATION AND CLAIMING INSTRUCTIONS Our developers have released the final version of the Token Allocation Tool, a self-custody decentralized web wallet, and toolkit which analyses records, validates accounts and estimates rewards. With built-in instant reward functionality, after being tested for more than 16 months, it provides unparalleled safety features for any open-source web app and allows even beginners or intermediate users to register and claim their XRP reward share in a one-click manner. As the Distribution Program's principal goal is community involvement, userbase growth, self-custody, and key ownership awareness, none of the centralized exchanges can partake 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 TO ESTIMATE REWARDS? The Token Allocation Tool does this automatically, but we'll break it up here for you to get a better understanding of 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 RequirementsBonusesIs privately owned (self-custody) and not related to any Foundation accounts, exchanges, or other institutions15% basic bonus added based on the current balanceHas a balance greater than the distribution floor value of 5102 XRP5% additional bonus for account snapshot inclusionIts balance was not the subject of this program (revolving accounts and multiple claim submissions are not possible)5% additional bonus is granted for account activity (DEX trading, token trust lines interactions)Agrees with the Foundation's Terms & Conditions2.5% 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 basic bonus and all other four additional ones. A newly created account is restricted to the basic bonus allocation of 15%. REGISTER AND CLAIM * To register your individual account, access the Token Allocation Tool * Connect to RippleNet at wss://s2.ripple.net (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 the keystore/software or paper wallets, for additional security layers provided by these devices, as the Allocation Tool was optimized for HW interaction. If your device doesn't appear in the selection box, ensure you meet all requirements and follow the instructions above. If you see a popup from Windows, see the troubleshooting guide 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 COMMUNITY TOKEN ALLOCATION PROGRAM November 22, 2023 RIPPLE PAYMENTS REACHES NEW HEIGHTS Nov 8, 2023 Q3 2023 XRP MARKETS REPORT Oct 31, 2023 EXPLORING HOME EQUITY LENDING AND SETTLEMENT WITH CBDCS Oct 30, 2023 HOW CAN CRYPTO EVOLVE BRAND REWARDS AND LOYALTY? Oct 12, 2023 RIPPLE FULLY LICENSED TO PROVIDE DIGITAL PAYMENT TOKEN SERVICES IN SINGAPORE Oct 3, 2023 RIPPLE IMPACT SPOTLIGHT: LAB FOR INCLUSIVE FINTECH (LIFT) AT UC BERKELEY Sep 26, 2023 SUBSCRIBE TO THE RIPPLE NEWSLETTER Back to top Solutions * Cross-Border Payments * 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 - 2023 Ripple, All Rights Reserved. NMLS #2314015