Featured on Twitter | Unlocking 1 billion XRP? You misunderstand Ripple too much

Author: March only hope

Source: Public Account Wildflower Saying

01

Ethereum network ecological status quo, Istanbul upgrade is imminent

Ethereum co-founder Joseph Lubin retweeted articles about Ethereum network activity, DeFi, and other statistics published by Consensys (Note: Consensys is an enterprise software application and tool building platform based on the Ethereum blockchain).

Ethereum network data:

  • The Ethereum network produced 9 million + blocks.
  • There are 6 Ethereum improvement proposals in the Istanbul upgrade (Note: Istanbul upgrade will be carried out at block height 9069000, expected on December 7th)
  • 15.6 million addresses with non-zero account balances.
  • The card game GodsUnchained has accumulated 7 million + transactions.
  • The 4 million + stablecoin Dai is locked in MakerDao.
  • Over 500 million US dollars are locked in DeFi. (Note: According to statistics from the DeFi Pluse website, as of now, the total amount of DeFi lockups has reached 672 million US dollars, of which MakerDao's lockup accounted for the largest proportion, 48%, and the lockup amount was 325 million US dollars.)
  • trufflesuite (note: the development framework on Ethereum) has accumulated 2.6 million downloads.
  • Gitcoin (note: an open source collaborative platform based on Ethereum with bounty) with a market value of $ 2.7 million.

Here is a special mention of the MakerDao multi-mortgage Dai data after the upgrade.

The multi-collateral Dai's stable rate has been adjusted to 4% in the previous few days, and Dai's deposit interest is 2%;

43.59% of the Sai supply has been converted into Dai. At present, the total amount of Dai is 43.1 million, and the total amount of Sai is 67.18 million.

02

Ripple hosted wallet 1 billion XRP unlocked the original way back

Cointelegraph reports that the 1 billion XRP (valued at $ 219 million) unlocked by Ripple's escrow wallet a few days ago will be reflowed into the escrow wallet via three transfers 7 minutes after the day of unlocking.

There is a need to correct a misunderstanding in the market about unlocking XRP by Escrow Wallet.

We usually see in various news that Ripple's managed wallet unlocks XRP, resulting in increased circulation and formation of selling pressure. This statement is actually very one-sided.

First of all, as early as December 2017, Ripple announced its distribution rules (55 billion XRP) in its hands-unlocking 1 billion XRP tokens every month for the next 55 months, and it is expected to be completed in 2022. Since January 2018, Ripple has unlocked XRP in the escrow wallet for the first time. We will now see Ripple ’s Escorow wallet release 1 billion XRP on the 1st of every month. This can be queried through the Ripple browser: XRP escrow wallet Browser

Therefore, don't be too surprised to unlock XRP with Ripple hosted wallet, this is the usual operation.

Secondly, the XRP that is unlocked every month is not 100% circulated. The unused XRP will be returned to the escrow wallet. This time on December 1, for example, the 1 billion XRP unlocks were returned by two transfers after 16 hours. Gave hosting wallet. (Note: This is the information seen from Ripple's browser, which is inconsistent with Cointelegraph's report. The author's browser information shall prevail.)

The actual average circulation ratio of XRP unlocked each month is between 5% and 20%, and XRP that is not returned to the escrow wallet will be unlocked 55 months after being unlocked in the current month (note: for example, 1 billion just unlocked in December) XRP is unused and returned to the escrow wallet, then these tokens will be unlocked for circulation after 55 months.)

According to the data from Ripple's official website, its escrow wallet XRP holdings were less than 50 billion in September this year (note: the total holdings are 55 billion). As of now, the total circulation is 43.3 billion, and the escrow wallet has accumulated 49 billion XRP, which means that after more than a year of unlocking 1 billion XRP per month, the actual number of XRP in circulation is only 6 billion .

03

Industry important news

1. Cointelegraph reports that SoftBank has partnered with American wallet developer Dynamics to develop a debit card with a built-in blockchain wallet, SBC Wallet Cards, which can be used as a traditional debit card or blockchain wallet .

2. CoinGeek posted that Calvin Ayre, a BSV investor, has increased his investment in the BSV ecosystem, and Calvin Venture Capital has invested in sCrypt. According to reports, sCrypt is a high-level smart contract writing language that enables developers to more easily write smart contracts on BSV without having to use more cumbersome Bitcoin scripts.

3. Jason Williams, co-founder of Morgan Creek, said that the halving of Bitcoin in May 2020 will not affect the price of Bitcoin. What do you think about this? Welcome to interactive discussion in the message area.

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