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Cryptocurrency News Articles
Ripple Continues to Refine Its Forthcoming Stablecoin, Ripple USD (RLUSD), Through Rigorous Beta Testing on Ethereum and XRPL
Sep 28, 2024 at 02:00 am
In a concerted effort to refine its forthcoming stablecoin, Ripple USD (RLUSD), has continued to push the boundaries of its cutting-edge Ripple USD
In a bid to refine its forthcoming stablecoin, Ripple USD (RLUSD), Ripple has continued to push the boundaries of its cutting-edge technology through rigorous beta testing on two pivotal blockchain platforms: Ethereum and the XRP Ledger (XRPL). This strategic dual-track approach enables comprehensive evaluation and optimization.
As part of this process, there was a substantial increase in token issuance. On September 24, at 12:28 AM UTC, a total of 485 RLUSD tokens were issued. This marks the largest release to date, increasing the maximum total supply to 563 tokens.
Upon its release, the RLUSD tokens quickly attracted the attention of XRPL community members, including Vet, a distinguished dUNL Validator. A curious community member sparked an interesting discussion by querying whether RLUSD’s transaction fees, when aggregated across significant volumes, might conversely enhance XRP’s liquidity, introducing an additional layer of market depth.
Vet offered clarification, explaining that although the fees associated with RLUSD are nominal and primarily aimed at preventing spam, the stablecoin’s on-chain presence could nonetheless catalyze injecting liquidity into XRP and other decentralized exchange (DEX) assets.
This recent RLUSD issuance builds upon the momentum established by the previous release of 185 tokens on August 22, which sparked lively discussions and piqued the interest of the community. This latest development is a continuation of Ripple’s strategic testing phase, designed to gauge the stablecoin’s performance and potential impact on the market.
The August 22 release served as a catalyst, generating buzz and anticipation among stakeholders, and this new issuance is expected to further amplify excitement and engagement within the ecosystem.
Community members have engaged in a captivating discussion, with some speculating on XRP’s potential price trajectory. A few enthusiasts humorously suggested that XRP's value could experience a dramatic upswing if it were to parallel RLUSD's stable $1 benchmark.
Vet, a respected voice in the community, took to social media to poke fun at sensationalist tendencies, jokingly labeling RLUSD's inevitable $1 valuation as a “groundbreaking” milestone. His remark cleverly highlighted the stablecoin's inherent design, pegged to maintain a steadfast value of $1.
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This development comes as Ripple is also exploring other avenues to enhance its footprint in the digital currency space. Recent statements from CTO David Schwartz highlighted XRP's superior role in facilitating payments on the XRPL, underscoring Ripple's nuanced approach to navigating the digital currency ecosystem.
CTO Schwartz's remarks were made in response to queries regarding Ripple's evolving business strategy, which includes integration with Ethereum, the adoption of smart contract technology, and the company's recent move to repurchase pre-IPO stocks.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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