In a recent development that has sent ripples of excitement throughout the XRP community, XRP Labs, in collaboration with GateHub, Alloy Networks, Evernode, and other prominent stakeholders, has unveiled the Xahau Whitepaper. This revolutionary document outlines the ambitious vision for the Xahau Ledger, a groundbreaking addition to the XRP ecosystem that promises to bring smart contract capabilities to the XRP Ledger (XRPL).
Smart contracts are coming to the XRP Ledger..
Here’s all you need to know about the new sidechain @XahauNetwork, XRP+ and Hooks, created by a group of core XRPL developers and @XRPLLabs.
(Click the link in the comments for the article) pic.twitter.com/yCEQdFfTsN
— onXRP.com (@onXRPdotcom) September 4, 2023
Facts About Xahau
The Xahau Ledger, at its core, builds upon the foundational elements of the XRPL, harnessing the power of the XRP Ledger Consensus Protocol to create a unique sidechain. This sidechain, once implemented, will pave the way for the integration of smart contracts, marking a momentous milestone for the XRP ecosystem. The community’s excitement is palpable, as it envisions the vast array of opportunities that a smart contract sidechain can unlock.
However, amid the jubilation surrounding the Xahau Ledger’s unveiling, one particular aspect has stirred both enthusiasm and concern within the XRP community—the initial distribution of 600 million Xahau XRP tokens. This allocation has become a point of contention among XRP enthusiasts, and here’s a breakdown of the distribution plan as outlined in the Xahau Whitepaper:
- Governance Game Validators: Each of the eight Governance Game validator seats will receive 12 million XRP+ tokens.
- GateHub: GateHub has been granted 16 million XRP+ tokens, aimed at enhancing decentralized exchange (DEX) stablecoin liquidity.
- XRPL Labs: XRPL Labs, a key contributor to the XRP ecosystem, is set to receive a substantial allocation of 160 million XRP+ tokens. This allocation is intended to support intellectual property development, driving innovation within the ecosystem.
- XRPL Foundation: The XRPL Foundation has been earmarked a significant portion of the initial distribution, receiving a staggering 328 million XRP+ tokens. The primary objective of this allocation is to strengthen the health and stability of the XRPL protocol.
Critics of the distribution plan have expressed concerns about the potential impact on the existing XRP mainnet price. The fear of market dilution, which can occur when a large number of tokens are introduced all at once, has led to apprehension within some segments of the XRP community.
Read Also: Binance Expands Support for XRP with Introduction of XRP/FDUSD Trading Pair
However, there’s an alternative perspective worth considering, as highlighted in the Xahau Whitepaper. The launch parties involved in the distribution of Xahau XRP tokens emphasize their unwavering commitment to the long-term growth and utility of the XRPL ecosystem. By allocating a substantial portion of tokens to various critical areas, they aim to foster collaboration, fuel intellectual property development, boost liquidity within DEXs, and enhance the overall health and resilience of the XRPL protocol.
As the XRP community eagerly anticipates the implementation of the Xahau Ledger and the subsequent introduction of smart contract capabilities, it remains to be seen how the distribution of these 600 million Xahau XRP tokens will impact the XRP ecosystem. The conversation continues within the XRP community, with enthusiasts closely monitoring developments and eagerly awaiting further updates on this groundbreaking project.