The XRP community is currently abuzz with speculation regarding the imminent release of the Ripple stablecoin, RLUSD. Contrary to popular rumors, Vet (@Vet_X0), a recognized UNL XRPL validator and co-founder of the leading NFT marketplace on the XRP Ledger “xrp.cafe”, has clarified that RLUSD will not be fully functional on XRPL this year. .
Why the Ripple Stablecoin will not be fully operational this year
In a detailed article on X, Vet explains the technical constraints: “Managing expectations! RLUSD will either be launched only on ETH this year or also launched on XRPL but without the possibility of being used initially in the AMM on the XRP Ledger, but with the DEX order book. I’m waiting, or rather hoping, for the latter.
Vet explained the reasons in more detail, highlighting the “recovery” functionality enabled on RLUSD, which the XRP Ledger does not currently support in its Automated Market Maker (AMM). “RLUSD is a stablecoin with recovery settings enabled. Tokens with this setting are rejected by the XRP Ledger for use in AMM. Amendments are being made to help resolve this,” Vet added.
The main amendments cited by Vet include XLS-73 AMM Clawback and XLS-77, which are designed to strengthen control over trustlines and restrict the transferability of RLUSD under certain conditions. XLS-73 aims to modify the AMM system to accommodate assets with recovery features, while XLS-77 is intended to enable a more complete freeze of trustlines, further securing the network against misuse by listed accounts black.
“In other words, because XRPL is decentralized, it is impossible to predict when these amendments will arrive, especially given the fatigue I have observed. I love seeing people get excited about things happening on-chain via the tracker I created, learning about trustlines and IOUs on XRPL is exactly where I want the attention is being carried, as opposed to screenshots of articles, partnerships, and live discussions from secret committees. », concluded the veterinarian.
Notably, David “JoelKatz” Schwartz, Ripple’s chief technology officer (CTO), did not dispute Vet’s overall assessment, but provided clarification on a specific technical point in Vet’s explanation. In a comment on On the contrary, it is less profound. Unless I’m missing something, in all cases where XLS-77 makes the difference, an asset that would have been frozen isn’t either.”
Vet responded to Schwartz’s criticism by refining his terminology, recognizing the complexity of the terms and their implications in the XRPL infrastructure: “Good point…hmmm…in my mind it made sense because the gel goes beyond the line trusted, it includes payment engine and dex – maybe that’s why “deep”.
Daniel Keller, another well-known figure in the XRP community, has requested further clarification whether the main statement regarding the Ripple stablecoin is pure speculation or fact. The vet confirmed the technical barriers: “Confirmed by the XRP Ledger that this is not possible. I haven’t confirmed which direction they will take, only ETH or ETH and XRPL but with AMM restrictions.
At press time, XRP was trading at $0.6344.
Featured image created with DALL.E, chart from TradingView.com
