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XRP: Xahau Initial Distribution Allocates 600 Million XRP, Here's What to Know

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Tue, 5/09/2023 - 12:50
XRP: Xahau Initial Distribution Allocates 600 Million XRP, Here's What to Know
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The XRP community received exciting news about the Xahau whitepaper launch in the past week, on exactly Aug. 28. XRP Labs, together with GateHub, Alloy Networks, Evernode and others, announced their participation in the launch.

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The Xahau Ledger is the proposed Hooks sidechain and the smart contract sidechain for the XRPL ecosystem. The Xahau token is known as XRP+ and it has its own tokenomics. Xahau XRP is primarily sourced from XRP burned on the XRPL and ported to Xahau via Burn2Mint.

OnXRP, a major NFT marketplace on XRP Ledger (XRPL), explores the key features, benefits and unique aspects of Xahau, which it refers to as the first smart contracts on the XRP Ledger ecosystem in a report.

Built on the DNA of the XRPL, Xahau leverages the XRP Ledger Consensus Protocol to provide a sidechain of XRP Ledger. Without a doubt, the community is thrilled about the opportunities that the smart contract sidechain represents.

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However, the initial distribution of Xahau XRP to the Xahau Ledger launch parties is currently at the center of the discussion. For this purpose, 600 million XRP have been set aside.

According to the Xahau whitepaper, which details the distribution plan, 600 million XRP have been allocated to the launch parties to recognize their significant contributions.

Upon Xahau's launch, the distribution will take place as follows: each of the eight Governance Game validator seats was allocated 12 million XRP. GateHub has been allocated 16 million XRP to improve DEX stablecoin liquidity. XRPL Labs has been allocated 160 million XRP for intellectual property support. The XRPL Foundation has been allocated 328 million XRP to safeguard the health of the XRPL protocol.

Concerns remain, according to the report, since a segment of the XRP community believes that these 600 million XRP+ tokens will swamp the market at the current XRP mainnet price.

The Xahau XRP distribution approach, on the other hand, according to the report, highlights the launch parties' commitment to the network's growth and utility, which goes beyond short-term financial rewards for themselves.

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