Xumm Ends XRP Burn for XAH Minting on Xahau Sidechain
The Xumm team, formerly known as Xaman, has decided to discontinue its Burn2Mint (B2M) program involving XRP and XAH, the native token of the XRPL sidechain Xahau. This decision comes after a vote by the team led by founder Wietse Wind.
What was Burn2Mint?
The B2M mechanism, introduced earlier, allowed users to directly acquire XAH tokens by burning XRP. This eliminated the need for users to rely on secondary markets or complex cross-chain bridges. Essentially, users could burn XRP and mint an equivalent amount of XAH.
Read Also: Shiba Inu Burns Rise Despite Token Price Slump
https://twitter.com/sentosumosaba/status/1774964338618749171
The B2M program was designed to gradually decrease the yield over time, ultimately reaching zero to regulate the distribution of XAH and prevent ...