Ripple’s Selective Funding Risks Future
  • A leading XRP Ledger (XRPL) developer has expressed concern that Ripple’s selective funding could jeopardize the project’s future innovations.
  • XRPL is one of the key drivers of XRP price volatility, mass adoption, and growth of the entire Ripple ecosystem.

The XRP Ledger (XRPL) has gained significant attention in recent months, driving network adoption and innovation. However, some developers and enthusiasts have expressed concerns that the network is lagging behind other networks. Bob Ras, a partner at CoreNest Capital and co-founder of Coreum and Sologenic, raised some of these concerns about the X platform and called on the Ripple team to implement a solution.

The developer revealed at the beginning of the post that prior to the launch of Sologenic, usage of XRPL DEX was minimal. As teams started building on his XRPL, the potential of XRPL was put into the spotlight and more projects realized that they could build on it despite its limitations. The developer further revealed that one of the main obstacles to adoption is regulatory pressure due to ongoing litigation, which undermines confidence in the entire XRPL ecosystem.

The developer further explains the launch of Coreum. As CNF highlighted, his integration of XRP with Coreum and Ripple via the XRPL-Coreum Bridge sets a new standard for compliance and innovation in the blockchain industry. XRPL-Coreum Bridge facilitates enhanced access to DeFi features and cross-chain swaps.

On the other hand, developers point out that Ripple and RippleX are undermining some of the work done by developers. Ripple, in particular, could not support all the projects built on its network.Developers accuse the company of only providing support “Former employees (e.g. $100 million to Coil) or funded partners (e.g. Axelar).”

Developers say Ripple’s mission to disrupt cross-border payments and potentially replace SWIFT faces hurdles, but like any successful Layer 1 project, it will continue to grow its ecosystem. It points out that we need to support all builders that add value to XRPL.

The developer ended the thread by clarifying that this is not an attack on the network or Ripple. “This is not an attack, but a call to action to make XRPL a potential innovation ecosystem. We all want XRPL to succeed.” he added.

As recently reported by CNF, XRPL has several notable developments, including the adoption of an Automated Market Maker (AMM) similar to Uniswap (UNI) in the Ethereum (ETH) ecosystem and Pancakeswap (CAKE) in the Binance ecosystem. Celebrating innovation. This allows XRP holders to earn passive income.

This development prompted Ripple CTO David Schwartz to build a trading bot that utilizes an algorithm similar to XRPL’s AMM. The CTO revealed that bot profits are currently limited to around 11 percent per year due to high transaction fees on some blockchains.

At the time of writing, XRP is trading at $0.63 after the stock price rise. 4% decrease within the last 24 hours.

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