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Futureverse CEO Claims rXRP:XRP 1:1 Backing on The Root Network


by CoinEdition
  • According to Aaron McDonald, all rXRP tokens on the Root Network are backed 1:1 by XRP.
  • McDonald explained that the project is consolidating accounts to make it easier to track.
  • The Futureverse CEO promised to release a more formal report on the topic.

According to Aaron McDonald, the founder and CEO of Futureverse,  developer of The Root Network, all rXRP tokens on the Root Network are backed 1:1 by XRP tokens on the XRP Ledger (XRPL). He noted this in a post on X (formerly Twitter) while responding to a user who sought clarification over the recent airdrop by The Root Network.

The user, Thomas Silkjaer, asked how the network distributed 360,000 tokens when the XRPL bridge account had only ever received about 48,000 XRP. Silkjaer also asked how The Root Network could have a total XRP balance of 680,000.

In his response, Mc…

The post Futureverse CEO Claims rXRP:XRP 1:1 Backing on The Root Network appeared first on Coin Edition.

Read the article at CoinEdition

Read More

XRP Bullish Cross Playing Out Again: $9 Or $24 Next?

XRP Bullish Cross Playing Out Again: $9 Or $24 Next?

XRP’s technical setup is playing out another major move, and this time the bullish mo...
XRP Ledger Hits Record 7.24 Million Wallets as DeFi Boom Drives All-Time High Adoption

XRP Ledger Hits Record 7.24 Million Wallets as DeFi Boom Drives All-Time High Adoption

According to CryptoQuant data, the record-breaking 7.24 million XRP Ledger wallets un...

Futureverse CEO Claims rXRP:XRP 1:1 Backing on The Root Network


by CoinEdition
  • According to Aaron McDonald, all rXRP tokens on the Root Network are backed 1:1 by XRP.
  • McDonald explained that the project is consolidating accounts to make it easier to track.
  • The Futureverse CEO promised to release a more formal report on the topic.

According to Aaron McDonald, the founder and CEO of Futureverse,  developer of The Root Network, all rXRP tokens on the Root Network are backed 1:1 by XRP tokens on the XRP Ledger (XRPL). He noted this in a post on X (formerly Twitter) while responding to a user who sought clarification over the recent airdrop by The Root Network.

The user, Thomas Silkjaer, asked how the network distributed 360,000 tokens when the XRPL bridge account had only ever received about 48,000 XRP. Silkjaer also asked how The Root Network could have a total XRP balance of 680,000.

In his response, Mc…

The post Futureverse CEO Claims rXRP:XRP 1:1 Backing on The Root Network appeared first on Coin Edition.

Read the article at CoinEdition

Read More

XRP Bullish Cross Playing Out Again: $9 Or $24 Next?

XRP Bullish Cross Playing Out Again: $9 Or $24 Next?

XRP’s technical setup is playing out another major move, and this time the bullish mo...
XRP Ledger Hits Record 7.24 Million Wallets as DeFi Boom Drives All-Time High Adoption

XRP Ledger Hits Record 7.24 Million Wallets as DeFi Boom Drives All-Time High Adoption

According to CryptoQuant data, the record-breaking 7.24 million XRP Ledger wallets un...