- While Xahau’s XRP+ is a gas token, there are differing views on whether mainnet XRP is also a gas token.
- XRPL Labs CTO proposed a reverse Burn2Mint mechanism for mainnet XRP.
- However, Ripple’s CTO expressed skepticism about the feasibility of such a proposal.
Ripple’s Chief Technology Officer, David Schwartz, recently expressed doubt about the feasibility of a solution regarding XRP distribution on the mainnet. His view came following a clarification of Xahau’s XRP.
Specifically, in a recent tweet, Richard AH, the CTO of XRPL Labs, clarified the place of the XRP+ token in the coming XRPL sidechain, Xahau. Richard noted that the Xahau’s XRP+ is a gas token, a characteristic explicitly ingrained in its design. While he expressed that mainnet XRP shares this gas token characteristic, he acknowledged differing views on the matter.
Furthermore, Richard elaborated on the potential for mainnet XRP to support a reverse Burn2Mint mechanism for issued currencies. According to him, if implemented, it would enable the seamless movement of wrapped XRP in both directions.
Additionally, he proposed the possibility of wrapped XRP becoming counter-party-free if generated through a transactor on the mainnet. Yet, he acknowledged that such a development would require a policy amendment.
However, Ripple’s CTO, David Schwartz, expressed skepticism regarding the feasibility of such a proposal. Schwartz pointed out the challenges in determining a fair and sensible policy for distributing XRP on the mainnet. “I can’t really see any sensible way to do this, regardless of politics,” Schwartz remarked.
Moreover, he noted that the mainnet governance structure is primarily designed to address technical disputes and may not be suitable for making distribution decisions based on non-technical criteria.
Also, Schwartz highlighted the risk of centralization if such decisions were handed over to the governance of the other chain, as it could undermine the decentralization principles of the XRP Ledger.
Meanwhile, another XRP enthusiast argued that the Xahau team could have developed its gas token entirely rather than creating a competitor for mainnet XRP. “To avoid confusion, why not name it XAH or XAU?” the commenter remarked.