- A leading XRP Ledger (XRPL) developer has raised concerns about Ripple’s selective funding that could risk future innovations on the project.
- XRPL is one of the key drivers of XRP price movements, mass adoption, and the growth of the entire Ripple ecosystem.
The XRP Ledger (XRPL) has garnered massive attention in recent months, driving adoption and innovation into the network. However, some developers and enthusiasts have been raising concerns that the network has been dragging behind its peers. Bob Ras, Partner at CoreNest Capital and Co-Founder of Coreum and Sologenic, has raised some of these concerns on the X platform and called on the Ripple team to implement solutions.
The developer began his posting by revealing that before the launch of Sologenic, the XRPL DEX saw minimal usage. Once the team began building on XRPL, it put a spotlight on the XRPL’s potential, and more projects realized they could build on the XRPL despite its limitations, which he reveals are many. The developer further reveals that one of the key hindrances to adoption is regulatory pressure due to the ongoing lawsuit, which compromises confidence in the entire XRPL ecosystem.
The developer further discusses the launch of Coreum. As CNF highlighted, Coreum’s integration with Ripple’s XRP through the XRPL-Coreum Bridge sets a new standard for compliance and innovation in the blockchain industry. The XRPL-Coreum Bridge facilitates enhanced access to DeFi features and cross-chain swaps.
On the flip side, the developer notes that Ripple and RippleX have been undermining some of the work done by developers. Ripple in particular has failed to support all projects built on the network. The developer accuses the company of supporting only “ex-employees (e.g., $100 million to Coil) or funded partners (e.g., Axelar).”
(7/10) Let’s face it, XRPL has limitations. If Ripple holds most of the XRP supply, it’s in their best interest to support ALL innovative projects building use cases for XRPL, not just those by ex-employees (e.g., $100M to Coil) or funded partners (e.g., Axelar).
— Bob Ras (@bobrasX) March 25, 2024
The developer notes that while Ripple’s mission to disrupt cross-border payments, potentially replacing SWIFT, faces hurdles, it should support all builders adding value to XRPL to grow the ecosystem, just like any other successful Layer 1 project.
Ending his thread, the developer is clear that this is not an attack on the network or Ripple. “This isn’t an attack, it’s a call to action to make XRPL the innovative ecosystem it has the potential to be. We all want XRPL to succeed.” He adds.
As recently reported by CNF, the XRPL has celebrated some notable innovations, including adopting an Automated Market Maker (AMM), which is akin to Uniswap (UNI) for the Ethereum (ETH) ecosystem and Pancakeswap (CAKE) for the Binance ecosystem. This allows XRP holders to generate passive income.
At the time of writing, XRP is trading at $0.63 after a 4% drop in the last 24 hours.
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