search
Homeweb3.0Why The Ripple Stablecoin (RLUSD) Will Not Be Fully Operational This Year

Why The Ripple Stablecoin (RLUSD) Will Not Be Fully Operational This Year

Oct 01, 2024 am 06:06 AM
ripple Stablecoin Launch Expert

The XRP community is currently abuzz with speculation regarding the imminent release of the Ripple stablecoin, RLUSD. Contrary to widespread rumors

Why The Ripple Stablecoin (RLUSD) Will Not Be Fully Operational This Year

XRPL validator Vet has clarified that the Ripple stablecoin (RLUSD) will not be fully operational on the XRP Ledger (XRPL) this year, owing to technical constraints.

Vet, who is also the co-founder of the leading NFT marketplace on the XRPL, explained in a post on X that the RLUSD will either launch only on the Ethereum network this year or be launched on the XRPL without the ability to be used in the Automated Market Maker (AMM) initially.

“I expect, or rather hope, for the latter,” Vet said.

The technical constraint stems from the ‘clawback’ feature enabled on the RLUSD, which is not currently supported by the XRPL for assets that can be used in the AMM.

“RLUSD is a stablecoin with clawback settings enabled. Tokens with this setting are denied by the XRP Ledger to be used in the AMM. There are amendments in the works to help solving this,” Vet added.

Specifically, Vet mentioned XLS-73 AMM Clawback and XLS-77, which aim to provide more control over trustlines and restrict the transferability of RLUSD under certain conditions. XLS-73 aims to modify the AMM system to accommodate assets with clawback features, while XLS-77 is intended to allow for a deeper freeze of Trustlines further securing the network against misuse by blacklisted accounts.

“In other words, because the XRPL is decentralized these amendments are impossible to predict when they will come, especially given the fatigue I observed. I love seeing people be excited about things happening on chain via the tracker I made, educating themselves on trustlines and IOUs on the XRPL is exactly where I want attention to go to, as opposed to screenshots of articles, partnerships and secret committee hot air talk,” Vet concluded.

Meanwhile, Ripple CTO David “JoelKatz” Schwartz commented on Vet's explanation, specifically on the role of XLS-77 in freezing assets, in a separate commentary on X.

“ FWIW, I’m not sure I like the description of XLS-77 as a ‘deeper’ freeze. If anything, it’s less deep. Unless I’m missing something, in any case where XLS-77 makes a difference, an asset that would have been frozen is, instead, not frozen,” Schwartz said.

Vet responded to Schwartz's critique by acknowledging the complexity of the terms and their implications across the XRPL infrastructure.

“Good point…hmmm…in my mind it made sense because the freeze goes beyond the trustline, it includes the payment engine and dex – maybe that's why ‘deep',” Vet said.

Another XRPL community member, Daniel Keller, sought further clarification on whether the core statement about the Ripple stablecoin is pure speculation or a fact, to which Vet replied that it is confirmed by the XRPL that it's not possible.

The above is the detailed content of Why The Ripple Stablecoin (RLUSD) Will Not Be Fully Operational This Year. For more information, please follow other related articles on the PHP Chinese website!

Statement
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
Bitcoin (BTC) Price Action: Bulls Target $100K But Must Defend Key LevelsBitcoin (BTC) Price Action: Bulls Target $100K But Must Defend Key LevelsApr 27, 2025 am 11:26 AM

Bitcoin is now trading above the $94,000 level, showing strong momentum after a sharp recovery from recent lows.

Bitcoin (BTC) Price Action: Bulls Eye $100K But Must Defend Key LevelsBitcoin (BTC) Price Action: Bulls Eye $100K But Must Defend Key LevelsApr 27, 2025 am 11:24 AM

Bitcoin is now trading above the $94,000 level, showing strong momentum after a sharp recovery from recent lows.

FloppyPepe (FPPE) Emerges as the Top Choice for Investors Seeking Smart Investment OpportunitiesFloppyPepe (FPPE) Emerges as the Top Choice for Investors Seeking Smart Investment OpportunitiesApr 27, 2025 am 11:22 AM

The cryptocurrency market offers numerous investment opportunities, with Dogecoin (DOGE) and Shiba Inu (SHIB) being popular options among meme coins.

Bitcoin (BTC) Could Reach $2.4M by 2030, According to ARK Invest's Latest ResearchBitcoin (BTC) Could Reach $2.4M by 2030, According to ARK Invest's Latest ResearchApr 27, 2025 am 11:20 AM

Bitcoin's trajectory has captured the imagination of investors, with ARK Invest's latest research update painting a transformative picture for the cryptocurrency's future.

Jed McCaleb's 2014 Departure from Ripple Was Likely Part of a StrategyJed McCaleb's 2014 Departure from Ripple Was Likely Part of a StrategyApr 27, 2025 am 11:18 AM

Jed McCaleb's 2014 departure from Ripple sparked rumors, but was likely part of a strategy.

5 Meme Coins Catching Heat: Floki Inu, Cheems, and One Undercover Gem Ready to Roar5 Meme Coins Catching Heat: Floki Inu, Cheems, and One Undercover Gem Ready to RoarApr 27, 2025 am 11:16 AM

What if the next meme coin to make serious waves isn't trending yet, but hiding in the shadows of Telegram chats and crypto Twitter threads?

The Dallas Stars have completely flipped the script on the Colorado Avalanche.The Dallas Stars have completely flipped the script on the Colorado Avalanche.Apr 27, 2025 am 11:14 AM

A clear underdog coming into the series thanks to injuries to Miro Heiskanen and Jason Robertson

Impressive Recovery in the Virtual Currency Market Continues as Altcoins Gain GroundImpressive Recovery in the Virtual Currency Market Continues as Altcoins Gain GroundApr 27, 2025 am 11:12 AM

The virtual currency market continues to display impressive recovery, with alternative cryptocurrencies gaining ground, driven by Bitcoin's recent resurgence.

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

Video Face Swap

Video Face Swap

Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Tools

PhpStorm Mac version

PhpStorm Mac version

The latest (2018.2.1) professional PHP integrated development tool

MinGW - Minimalist GNU for Windows

MinGW - Minimalist GNU for Windows

This project is in the process of being migrated to osdn.net/projects/mingw, you can continue to follow us there. MinGW: A native Windows port of the GNU Compiler Collection (GCC), freely distributable import libraries and header files for building native Windows applications; includes extensions to the MSVC runtime to support C99 functionality. All MinGW software can run on 64-bit Windows platforms.

EditPlus Chinese cracked version

EditPlus Chinese cracked version

Small size, syntax highlighting, does not support code prompt function

DVWA

DVWA

Damn Vulnerable Web App (DVWA) is a PHP/MySQL web application that is very vulnerable. Its main goals are to be an aid for security professionals to test their skills and tools in a legal environment, to help web developers better understand the process of securing web applications, and to help teachers/students teach/learn in a classroom environment Web application security. The goal of DVWA is to practice some of the most common web vulnerabilities through a simple and straightforward interface, with varying degrees of difficulty. Please note that this software

ZendStudio 13.5.1 Mac

ZendStudio 13.5.1 Mac

Powerful PHP integrated development environment